Speaker 1: Oh my goodness, I can't believe that I'm doing this. A chick with social anxiety about to go talk to a couple billionaire millionaires.

Speaker 2: First in the tank is a stylish and functional accessory.

Speaker 1: Hi, I'm Sophie Overton. I'm from Bentonville, Arkansas, and I'm seeking $30,000 for 15% equity in my company. Sharks, I'm 13 years old. And even though I'm still in the 8th grade, I have a PhD in sockology. Heck, I know more about thread counts than I do about the periodic table. I created a sock for kids, made by this kid, to make life easier for whatever we're doing. Introducing Wise Pocket Products. An innovative line of socks and leggings with pockets in them. Big enough for kids' most important items, like your phone. So you don't have to worry about the life-threatening event of missing a call or text from your mom anymore. And I know what you're probably thinking. There's got to be tons of socks like this. Well, I created a patent-pending sock design for kids to safely stick their important items into our sock pockets. So if you're playing soccer, rock climbing, or, you know, spontaneously breaking out into dance with your friends, Wise Pocket Products has you covered.

Speaker 3: Whoa. Nice. Wow.

Speaker 4: Oh.

Speaker 5: Wow.

Speaker 4: Love you guys. Are you alive? I just want to let you guys know you're all going to have arthritis when you get old.

Speaker 1: So as you can see, Sharks, even after all that, our design sock pockets will keep your important items in without falling out. And the best part is, for every pair of socks that we sell, we donate a pair of socks to kids in need. Sharks, I know I'm young, but give me five years and I hope I'll be sitting in one of those chairs. So tell me, who's wise enough to join me in getting Wise Pocket Products to kids everywhere? Thank you for letting me tell you about Wise, and thanks, guys.

Speaker 3: All right, good job. Excellent, excellent, excellent.

Speaker 6: You gonna show us some, Sophie, in person here? Yeah, sure. Here you go, you can take three.

Speaker 5: Thank you. You did great. Thank you.

Speaker 6: Thank you, Sophie.

Speaker 5: Thanks, Sophie. Thank you. Tell us about you, how you got into this business.

Speaker 1: Well, I got into this business when I was 11, and my cousin put her phone in her boot because, you know, kids in women's clothing don't have pockets. So I tried it too, and it was really uncomfortable because it slipped down to my ankle, and I couldn't reach it, and it was just all in all a bad idea. And so I asked around my school to see if other kids had this problem, and they did. And so I came up with my prototype where I cut off the top of another sock and stuck it inside the sock. That's cool. And I sewed it up the sides, and voila.

Speaker 6: How did you get your money for the business?

Speaker 1: I save everything that I earn, and I...

Speaker 6: How much money did you actually put in to make your socks?

Speaker 1: I invested $10,000 of my own money. $10,000? Wow. $10,000?

Speaker 6: I think your parents overpaid you for your job. Yeah.

Speaker 1: No, I had saved $5,000, and I earned $5,000 more through business pitches and competitions. Nice. Oh, wow.

Speaker 4: Good for you.

Speaker 1: Have you been watching Shark Tank very long? Since I was like six years old. Oh, my God.

Speaker 4: Yeah, make us feel old.

Speaker 1: You know, I'd stand up in the living room and say, I'm going to be on Shark Tank. This has been my goal since before I even had the idea for the business.

Speaker 4: Have you sold any of these yet? Yes.

Speaker 1: How much? A little under $16,000 in sales.

Speaker 2: Sophie, let me just tell you, you're a perfect example of what every kidpreneur should do, right? You got a job, you saved up some money, you did all the prototypes yourself, then you made actual products, then you sold those products, $16,000 worth of products. Now, the only question is, did you sell those products profitably? Tell us what it cost you to make a sock and what you're selling them for. To make the sock, it's $5.47.

Speaker 1: Because that's expensive. Yes, it's because of the process to make the double welt for my pocket. What are you selling them for? $15 retail and $11 wholesale.

Speaker 4: What do you want with the $30,000, Sophie? What are you going to do with it?

Speaker 1: Well, my main goal is to streamline the production because right now I'm only able to produce around 100 units per month because I have...

Speaker 4: Per month?

Speaker 1: Yes.

Speaker 4: That's horrible.

Speaker 5: There's other things out there on the market that hold in socks. They have pockets, right?

Speaker 1: I do have competition, although my competitors only have small pockets for keys and stuff.

Speaker 4: Well, Sophie, look, I love what you're doing and it's wonderful to see this at such a young age, but I don't want a sock company in my portfolio. So, I'm out.

Speaker 7: Thank you.

Speaker 2: Sophie, I think it's a great idea. I'm going to get some for my kids. For me, though, it's not a great fit as an investment simply because this isn't my strength. I couldn't tell you about thread counts, you know, but, I mean, congratulations. You should be so proud, but it's not a fit for me, so for those reasons, I'm out.

Speaker 1: Thank you very much.

Speaker 2: Congrats, though, Sophie.

Speaker 5: Do you feel that you want to be running a business right now or is it a little stressful when you're going to school and all of that?

Speaker 1: I mean, going into high school is stressful on its own, but with the Wise Pocket product, it's kind of a boost for me. I feel a confidence boost. Like, if I can own a business, then I can go through school and turn in that essay. Good for you, Sophie.

Speaker 5: Thank you. You're already out there hustling, thinking, creating, doing it yourself, so you've got everything that it takes to really be a great entrepreneur. And Damon and I want to help you. He does quite a bit in the sock arena, and he would like to do an offer with me.

Speaker 3: I started off with Bombers. They were doing $800,000, and they were donating to people, and they donated over 10 million pairs of socks, and they're doing $120 million now. And the donation is way more important to them than the money. Yeah. So, what do you think, Lori?

Speaker 5: We'll do the $30,000. We'll be a third partner. Our goal is to try to find somebody to license it, and then when we get to that point, we'll figure out what the licensing deal is.

Speaker 4: Do you want to take the $30,000 and give up one-third of your company? You've got to make a decision, yes or no.

Speaker 1: You are right, Mr. Wonderful. It's a lot of my company. I'd like to make a counteroffer. Yes, Sophie.

Speaker 4: Okay, let's hear it.

Speaker 1: $35,000 for 25%. Wow.

Speaker 2: Ooh. Sophie's got negotiating skills.

Speaker 3: She's got a little switchblade in her sock on that one. 25%.

Speaker 5: We will take that offer. Thank you so much. Yay.

Speaker 3: We're in the sock business again. Yes.

Speaker 1: High five. Thank you. Thank you so much. I'm so proud of you. I'm so impressed by you. Wow. Congratulations, Sophie. Well done.

Speaker 2: Thank you.

Speaker 1: I'm very overwhelmed, and I'm really excited that I got a deal with Lori and Damon, and I'm just, I'm in heaven. I mean, I'm so excited. Thank you.