5. Grace and Lace
Grace and Lace has a solution if you’re excited about wearing your winter boots but not so excited about having to cover your snuggly cool socks. Grace and Melissa Hinannt, the company’s founders, were already quite successful; but they chose nonetheless to go on the Shark Tank because they knew that with their help they could accomplish great things.
Barbara Corcoran appeared in the picture, and gave Grace and Melissa what they were asking for, $175,000; half of which would be a line of credit. Sales continued to increase for the company, and they made $1 million in the week after their episode aired. Their total sales currently is over $6.5 million, and they even use some of it for charity work, helping orphanages in India.
