Liquid Money from Shark Tank

Liquid Money shark tank

The former VP of Sales at Microsoft, Patrick McCarthy, founded the company Liquid Money, which is a his and her fragrance line. The USP of his product is that the fragrances smell like real, crisp money.

McCarthy drew inspiration from a Japanese study that found that the smell of money makes people work more efficiently. Researchers tested this on factory workers who worked harder when they could smell money through the air vents.

As a sales leader, McCarthy wanted to create unique perfumes for his sales team. He worked closely with perfumers like Larry Murrison to achieve the product he had in mind. McCarthy instilled his money perfume with silk, cotton, and linen extracts that are the actual ingredients of the US dollar bill.

The perfume is packaged as His Money and Her Money. McCarthy went a step ahead and added real shredded money into the packaging. He brought this real money from the Treasury Department.

Liquid Money perfumes are not cheap. Individually His Money and Her Money were worth $52 (when the episode aired), while a collection costs $125.

McCarthy first appeared on the premiere of season three of Shark Tank, where he pitched his company Liquid Money. He asked the Sharks for an investment of $100,000 for a 5% share in the Liquid Money. This gives the business a $2 million valuation.

Before Shark Tank, McCarthy sold $52,000 a year. He also did not have enough retail space. Although McCarthy mentioned that CVS had shown interest, they had not signed a deal.

McCarthy invested $50,000 from his pocket into this business venture. He was ambitious about turning his fragrance line into a global brand.

Although the fragrances were unique, Liquid Money failed to sway the Sharks for varying reasons. Mark Cuban thought the valuation for Liquid Money was too high, and Barbara could not connect the scent of money with the perfume. .

Robert and Mr. Wonderful were also not convinced.

Daymond John thought the company would require a massive advertising budget to publicize the product. However, he liked Liquid Money’s unique concept but did not agree with the valuation of the business. He didoffer McCarthy $100,000 but for 80% of Liquid Money. McCarthy declined his offer and left Shark Tank with no deal.

Though he didn’t bag an investment, McCarthy’s appearance on Shark Tank worked in his favor. He got adequate exposure from it that served as great marketing capital. Liquid Money became the official fragrance of Las Vegas and the Mrs. America Pageant. The perfume also became a hit with sports stars, celebrities, and money managers.

Apart from its website, the perfume is available at 200 retail outlets across America and projected tomake annual revenue of $4 million by 2021.

Our Review of Liquid Money

The his and her fragrance by Liquid Money smells like the real deal and is unique. You will certainly smell like a millionaire!

Customer reviews are divided. Female customers have taken a liking for the perfume because of the interesting combination of scents. The scent is a combination of floral, citrus and tropical accords. The vibrant pink grapefruit, mandarin, Hawaiian wedding flower, and hint of melon in Her Money definitely has hit the right notes with its consumers.

His Money fragrance failed to impress the men. They loved the idea of the perfume but not the actual scent of it. It is largely a blend of woody, grassy and marine notes. It has been most criticized for not being long-wearing. The men have labeled this a novelty gift and not a fragrance they would invest in to be their signature scent.

The perfume market is saturated with brands and flooded with options. Customers have been candid in their reviews; they’d rather buy some other high-end designer perfume than this one that simply fades away. Liquid Money’s social media marketing is faltering, and their own online presence is weak. However, customer reviews about the product are in abundance on fragrance directories.

Liquid Money has made its space in the market, but there are pros and cons to its fragrances.

Pros of Liquid Money

  1. The perfume will make you feel like a millionaire
  2. You can gift Liquid Money as a fun Christmas gift.

Cons of Liquid Money

  1. The scent for his and her Liquid Moneyis weak and does not last long. Customers will have to re-apply the perfume again to maintain the scent.
  2. The fragrances are novelty products and not actual perfumes someone would wear and take seriously.
  3. There are no other sizes available for the fragrances. It is only available in one standard size50ml.
  4. You have to pre-order it and it takes 8 to 10 weeks to be delivered.

Who Is Liquid Money For?

Patrick McCarthy created this fragrance line initially for his sales teams. He wanted to improve their performance. But this fragrance line is for men and women who want to smell like a million bucks at a small price. There are also people who would want to buy Liquid Money fragrances as a collectible item and not actually wear the perfume.

Are There Any Other Alternatives?

Patrickul McCarthy also has secured a trademark on this unique fragrance that smells like actual money. This means that nobody else can manufacture a fragrance that smells like money.

However, there are tons of other perfumes available in the market. There are brands like Tom Ford, Paco Rabbane and Versace available at similar price points.

Our Final Thoughts

The Liquid Money fragrance has garnered popularity through press releases and by being featured on Shark Tank. Financially speaking, the company has earned a lot, but the fragrances have failed to leave a meaningful impression on the market. These fragrances are likely a one-time purchase, and perhaps that too out of curiosity.

The company did have satisfactory sales prior to featuring on Shark Tank, but the Sharks foresaw Liquid Money’s weaknesses and did not invest in it. Patrick McCarthy did not back down and continued building his dream brand. This goes to show his commitment to his business.