Shark Tank (TV Series)
Episode #1.11 (2010)
Andy Sperry: Self - Entrepreneur
Quotes
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Kevin O'Leary : Okay, let's have a very quick math lesson. We're going to keep it very easy, just to figure out if you'll ever make any money, okay?
Andy Sperry - Entrepreneur : Okay. Right on.
Kevin O'Leary : How many times does the average customer per year send back this InkFlip box?
Andy Sperry - Entrepreneur : Industry statistics say that the average customer is going to use 7 cartridges a year.
Kevin O'Leary : How much money per trip do we make at InkFlip?
Andy Sperry - Entrepreneur : $8 to $10.
Kevin O'Leary : Okay, let's say $10. That means each customer is going to make us $70 a year.
Andy Sperry - Entrepreneur : Correct.
Kevin O'Leary : Now here's the killer question, Andy: What is the cost of acquiring that customer?
Andy Sperry - Entrepreneur : [nervously] That is the killer question, and I'll be honest, I don't have the answer to that, and...
Kevin O'Leary : Wrong answer!