Personal Finance

From Day Job to Deal: How NineteenTwenty Turned Hustle into $250K on ‘Shark Tank

Kristin Hitchcock

Published: November 26, 2024 2:23 pm

24/7 Wall St. Key Takeaways:

• Sankar’s perseverance paid off, but her story is also a reminder: entrepreneurship is a marathon, not a sprint.
• It is possible to balance a career and a startup. However, finding the right investors and strategies is important. 
• Also: Take this quiz to see if you’re on track to retire ^(Sponsored)

For many aspiring entrepreneurs, balancing a demanding career with a side hustle is a serious feat. Ashley Sankar, co-founder of the Phoenix-based clothing brand NineteenTwenty, is living proof that the hustle can pay off. 

After working 50 hours a week as a program manager at Amazon and dedicating her nights to her business, Sanker turned her clothing hustle into a true startup that earned $250,000 investment offer on ABC’s Shark Tank.

How did she do it? Let’s take a look.

From Side Hustle to Shark Tank

Sankar, a former U.S. Army logistics officer, launched NineteenTwenty in December 2022 with her husband, Zach, who also serves as the company’s part-time COO. Their company made innovative apparel, like puffer jackets and skirts, that converted into pillows or tote bags. 

Despite only managing one product drop per quarter due to limited funding, the brand generated $269,000 in its first year, selling out every batch.

Shark Tank’s Pitch

On the show, the couple sought $250,000 for a 10% stake in their company. However, like most companies, they hit several hurdles on the show, including a muddled financial presentation, a competitive industry, and Sankar’s dual employment. 

Investor Kevin O’Leary questioned her commitment, offering the funds only if she quit her day job. Fellow investor Robert Herjavec took a different stance, praising her drive and offering $250,000 for 25%. Ultimately, the Sankars accepted Herjavec’s deal.

Our Take: The Realities of Balancing Ambition

Sankar’s journey underscores a critical lesson for modern entrepreneurs: building a business often requires sacrifices. Her decision to reinvest the profits instead of pocketing them highlights the importance of having a long-term vision. However, it also raises the question of sustainability. How long could she keep working both jobs?

Here are some things entrepreneurs can learn from her story:

• Leverage small wins: The Sankars had a very small inventory and limited resources. However, they maximized their early success by focusing on sell-through rates and reinvesting all the profits.
• Focus on financial literacy: The missteps of Sankar’s financial presentation almost cost them their deal. It’s important to have a solid grasp of cash flow and profit margins when running any business.
• Don’t shy away from part-time CEO status: While O’Leary dismissed part-time entrepreneurship, many successful founders started their ventures while juggling other jobs. Very few people have the money to fund their lifestyle while also starting a new business.