What Happened to Total Merchant Resources After the Shark Tank Pitch?
What exactly is Total Merchant Resources?
Total Merchant Resources is a corporation that provides small businesses with working capital for repairs, short-term payroll needs, expansion, inventory, and other objectives.
They work in merchant processing, which means they set up businesses to take credit and debit cards.
They also provide extra services that may be interesting to many firms, regardless of whether they appear on Shark Tank.
Total Merchant Resources is in the business of factoring credit card receivables.
That is, they purchase future credit card receivables at a discount from a corporation and pay them in cash in a lump sum.
This allows businesses to receive operational money without the requirement for a bank loan in order to expand or purchase items.
It’s a pretty common approach, and businesses with a high number of credit card transactions may quickly obtain large quantities of money.
Who are the Total Merchant Resources Founders?
Total Merchant Resources was founded by mortgage industry veterans Jason Reddish and Val Pinkhasov to provide operational finance for small businesses for repairs, payroll, expansion, inventory, and other needs.
What Happened to Total Merchant Resources during the Shark Tank?
Jason and Val appeared on Shark Tank Season 5 Episode 6 and requested $200,000 for a 20% stake in their firm. This translates to a $1 million valuation.
They describe how they provide alternative financial options to small businesses.
Kevin asks about a hypothetical loan issue, and they explain how they collect loan payments using credit card processing.
These loans are utilized by firms to take over credit card processing.
They end up gaining 74 percent of their clients’ processing business as a consequence of their lending efforts.
Jason and Val explain that they had both worked in the mortgage industry.
They want the Sharks to put them in touch with larger processing accounts so they may earn residual money.
Lori withdraws from the contract since she is still hesitant about anything.
Robert states that an entire segment of small businesses are unable to acquire a loan, but this is not a market for him, and he too withdraws from the arrangement.
Mark believes the sector will be regulated, and he understands the necessity of the business, but he does not want to be the industry’s deep pocket – he is out. Daymond gets out as well.
Kevin says he’ll work with Total Merchant Resources, but he wants a $50,000 investment in the firm.
Mr. Wonderful promises to take them to places they can’t imagine. He’ll contribute funds as well as relationships.
O’Leary asserts that he is capable of handling the matter on his own. When Jason and Val go into the room, Robert claims that any Shark Tank venture may profit from his expertise.
They return with a counter-offer of $250,000 for 25%, which Kevin promptly refuses.
Kevin believes that putting his name on a corporation will treble the bottom line (annual earnings).
He lets the two of them exit the shark tank while staying little. The two haggle, seeking to reduce Kevin’s asking price to $240,000 for 25% ownership, but the Sharks insist on accepting the agreement in order to work with Kevin.
The Sharks advise Mark to flip a coin, to which he responds with a quarter.
Kevin approaches them with a quarter in his hand and informs them that they must respond with a binary “yes” or “no” – do they want him to flip the coin right now, thereby deciding their fate? Jason stops for a moment, looks at Val, and then says, “Heads, you’re our partner, tails, you’re our partner” – the deal is done regardless of the coin flip.
Jason and Val discovered their last $200,000 investment in 50 %, as well as a fantastic business partner in Kevin O’Leary.
What Happened to Total Merchant Resources Following the Shark Tank Pitching?
Since cooperating with Kevin O’Leary, Jason and Val’s business has developed enormously.
The pair appears in a video on the Total Merchant Resources website that describes how the industry has grown and become increasingly well-known to businesses all around the world.
Total Merchant Resources has seen a 500% increase in business since appearing on Shark Tank.
In addition to credit card receivables, the pair of entrepreneurs have expanded their loan program to include ACH payments and Point of Sale systems for small businesses.
Total Merchant Resources has developed to become a global business that supports entrepreneurs all over the world as a result of the strategic relationship with Kevin O’Leary.
The company is on the upswing, with annual revenues exceeding $5 million as of November 2021.
What is the Total Merchant Resources’ net worth?
Jason and Val appeared on Shark Tank Season 5 Episode 6 and requested $200,000 for a 20% stake in their firm. This translates to a $1 million valuation.
They accepted Kevin’s offer of $200,000 for 50% ownership of the company.
The current valuation is clearly greater since the company has developed.
Who are Total Merchant Resources’ competitors?
Capital Processing Network, Cardservice International, BancCard, Electronic Merchant Systems, PaymentSense, International Bancard, Gravity Payments, and UBC Bank Card are Total Merchant Services’ main rivals.
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Total Merchant Services FAQS
1. What is Total Merchant Resources?
Total Merchant Resources is a firm that provides credit card processing to small businesses through a partner network.
2. What is the name of Total Merchant Resources’ CEO?
Total Merchant Resources CEO is Jason Reddish and the company’s COO is Val Pinkhasov.
3. What is Total Merchant Resources’ Headquarters?
Total Merchant Resources have office in Piscataway, New Jersey
4. Has Total Merchant Resources ever been on Shark Tank?
Total Merchant Resources appeared on Shark Tank Season 5 Episode 6 and requested $200,000 for a 20% stake in their firm. This translates to a $1 million valuation.
5. Did they get the deal?
They accepted Kevin’s offer of $200,000 for 50% ownership of the company.
6. What are the available payment options for Total Merchant Services referral program?
Total Merchant Resources offer their payment options to support all types of payment systems.
7. How can they contact Total Merchant Resources?
Total Merchant Resources can be reached via their website or through the links provided in their social media.
8. What is the website address of Total Merchant Resources?
Total Merchant Resources’ website address is at www.totalmerchantresources.com
9. What year was Total Merchant Services founded?
Total Merchant Services was founded in 2009.
10. When was Total Merchant Services aired on Shark Tank?
Total Merchant Resources appeared on Shark Tank Season 5 Episode 6 aired on October 25, 2013.
11. Is Total Merchant Services still in business?
Total Merchant Resources is still in business with annual revenues exceeding $5 million as of November 2021.
