Shark Tank is an American reality show that made its debut a few years back. The format is a franchise of the international show dragon’s Den which originated in Japan in 2001.
Shark Tank 2018 Auditions Requirement:
Based on previous season below are the expected requirement:
- Age must be at least 18 years
- Legal resident of the U.S.
- You, your immediate family, and anyone in your household must not have worked for or with any company, investor, or affiliation connected to Shark Tank within the past two years.
- You must not be a candidate for public office or become one until one year after the first broadcast of the last episode you appear in if selected.
- You must not have been convicted of a felony.
- You must be willing to submit to a background check.
Shark Tank 2018 Auditions:
Currently not available. We will update when the auditions for Shark Tank is announced.
About Shark Tank:
Shark Tank invites entrepreneurs to contest in the show. They make business presentations to a panel of panel of “shark” investors, who on that basis judges to whom to invest.
Shark Tank has been a continuous success among its contemporaries and has won the coveted Primetime Emmy Award for Outstanding Structured Reality Program three times. The show is currently running its eighth season, which started on September 23, 2016.
Shark Tank is produced by Mark Burnett.
The format of the show includes a panel of potential investors, who have been named as “sharks,” The aspirants make varying presentations to them. They do these presentations to ask for funds for their business or product. They consider these options and make their choices. The sharks are paid to participate in the show but whatever funds they invest are their own.
The entrepreneur might be lucky enough to impress the panel and they could make a deal with them. While sometimes none of the panel member is interested and the entrepreneur leaves empty-handed.
The “sharks” are there to analyze critically the proposal made by the entrepreneur. They tend to find flaws and faults in an entrepreneur’s concept, product, or business model. Some panel members are polite with their rejection while others are quite curt and brutal. Robert Herjavec and Kevin O’Leary, have been two longstanding names in the panel. These Canadian sharks’ have been an active part of the show.
A majority of deals are never actually sanctioned, due to the follow up process of investors in which they find about the contestants’ personal and business financials. While there have been cases where the entrepreneurs themselves backed out confessing that they only participated to appear on the show for the popularity.
Initially, the show asked to sign an agreement with Finnmax, the producer of the show which used to have a “2 percent royalty” or “5% equity stake” in the business venture. But October 2013, saw the end of this requirement.
Because it was felt that this agreement would lower the quality of the entrepreneurs deal as investors would trade away a portion of the deal just to appear on the show. This is the reason many potential investors refused to appear on the show.
The first two seasons did not saw much success. It could barely attract 5 million viewers and the same happened with season 2. However, season 3 crossed 5 million viewers and was ranked among top 100 most viewed shows. Now, the demographic says that this show is the most viewed one especially on Friday nights by the people in the age group of 18- 49 years. This made ABC to add three more episodes to the original season order of 22. In its sixth season the series reached over 9 million an episode, becoming its most successful season to date.