Shark Tank's 9-Month Journey

A detailed look at what it takes to get on Shark Tank and the process from application to air date, based on Julia Cheek's experience in 2017.

Application Process

• 50-page written application
  • Must be physically printed and filled out
  • Takes approximately 40 hours to complete
  • Requires signing extensive contracts with ABC

Interview Stages

• Voice interview with producers
• Initial video interview
• Pitch video interview
• 4 months of producer preparation
  • Focus on developing story and brand
  • Script development
  • Human interest angle refinement

Behind the Scenes Reality

• Show does due diligence before pitches
  • Has venture analysts on staff
  • Runs background checks on companies
• Actual filming vs. aired content
  • Pitches can last 15 minutes to 3 hours
  • Gets edited down to 5-7 minutes for TV
  • Much more discussion happens than shown

Deal Structure

• Deals shown on TV often change
  • Over 50% never come to fruition
  • About 25% change terms
  • Only 25% close as shown
• Each shark has different approach
  • Deals go through shark's management company
  • Detailed due diligence process post-show

Negotiation Reality

• Can take breaks during negotiations
• Allowed to:
  • Exit the room
  • Talk with partners
  • Call a friend for advice
• Expected to negotiate for TV drama
• Can accept deals immediately if desired