Hear from Mike and Dean Herkenrath, father and son co-founders of Deckiez, caffeinated pouches that are nicotine-free and tobacco-free.
On the season 12 premiere of Entrepreneur Elevator Pitch, contestants hoping to transform their businesses and lives must convince a panel of elite investors that their dreams are worth making a reality.
And they only have 60 seconds to do it.
This season, the stakes are higher, and the deals are bigger — investors are ready to throw down to get their piece of the next world-changing idea.
On the season 12 premiere of Entrepreneur Elevator Pitch, contestants hoping to transform their businesses and lives must convince a panel of elite investors that their dreams are worth making a reality.
And they only have 60 seconds to do it.
This season, the stakes are higher, and the deals are bigger — investors are ready to throw down to get their piece of the next world-changing idea.
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NewsTranscript
00:00Welcome to The Elevator.
00:02Hi, my name is Dean Herkenrath and this is my dad,
00:05and we started Decky's Caffeine Pouches
00:08to help people get off nicotine.
00:09Over 100 million Americans use oral pouches.
00:12We are projected to be in 500 stores in
00:15the next 12 months with $1.5 million in revenue.
00:18We're seeking $300,000 for 10 percent of our company.
00:21So if you're willing to shape and develop
00:22future generations of entrepreneurs, then here I am.
00:26I love it when it's like a father and son,
00:28a family business, and they just come with so much energy.
00:31Well, usually when I see a father-son,
00:33mother-daughter thing, one person is by far the dominant,
00:36and I can't tell who is dominant here.
00:39They both seem to have the numbers under control.
00:41I didn't know it was such a big market.
00:43So that was pretty intriguing to me,
00:45and they nailed the pitch.
00:49Now, I kind of like where Mark's going with his investment.
00:54I like to match that investment.
00:57What we're also looking for,
00:59probably more than money, to be honest with you,
01:01is experience in the scale.
01:04This caffeine market.
01:05I understand the emerging market,
01:07and I actually understand the people that can scale the business.
01:10I mean, if someone has a million followers,
01:13two million followers, you're thinking about the world of TikTok.
01:15While he might have created the streaming world,
01:18he hasn't understood the social world.
01:23After that crack about social media,
01:26I'm going to do something else.
01:28I'm going to lower my offer
01:31just to make it clear the value add that I have.
01:35So he'll do, what, $150?
01:37I'll do $125.
01:47We're not going to look a gift horse in the mouth.
01:49We appreciate everyone having us here today.
01:51Mark, I have to choose you with my sandwich.
01:53Oh, come on!
01:55Are you serious right now?
01:57Are you serious?