Nathan Buffet and Shane Cianciolo started the Corks Away Wine Adventures more or less as a lark. They would take six customers on a luxurious sail boat ride along the California coastline, serving wine and appetizers. They were tremendously successful and expanded into beer, mimosas and couples cruises. They had more ideas on how to expand further: open the business up to franchising, sell their popular pesto appetizer retail, and create an indoor dinner cruise in Las Vegas. In other words, they were a bit scattered.
The sharks loved the guys and that they were having so much fun. Their advice: just keep on doing what they were doing.
After the Tank, Corks Away purchased a second boat that seated 25 people, and they became even more popular. But it didn’t last. The business sank. They took their boats to Santos Marina in El Salvador, intending to start an Eco Tourism business.
Corks Away in the Shark Tank
In their Shark Tank pitch, Nathan Buffet and Shane Cianciolo of Corks Away asked for $105,000 in exchange for 20% equity in their wine cruise experience business. This valuation was based on their prior year’s sales of $250,000. Their pitch included providing each shark with a glass of wine and an appetizer, showcasing their service. The entrepreneurs’ expansion plan involved franchising, where they would purchase boats for about $35,000 each and sell them to franchisees for $175,000, along with their business model. This plan included the introduction of their pesto torte into grocery stores and an indoor dinner ride in Las Vegas. However, the sharks found issues with the feasibility and scalability of these plans. Mark Cuban was the first to opt out, citing a lack of a profitable scaling plan. Robert Herjavec followed, pointing out flaws beyond their initial stage. Daymond John, Kevin O’Leary, and Barbara Corcoran also declined to invest, leaving the entrepreneurs without a deal​​​​.
| Entrepreneurs | Nathan Buffet and Shane Cianciolo |
| Business Type | Wine Cruise Experience |
| Ask | $105,000 for 20% equity |
| Valuation | $525,000 |
| Sales | $250,000 in the previous year |
| Investment Deal | No deal |
| Sharks Invested | None |
| Expansion Plan | Franchising, selling boats, introducing pesto torte in grocery stores, and an indoor dinner ride in Las Vegas |
Corks Away After Shark Tank
After their appearance on Shark Tank, Corks Away experienced several developments, although not all were positive. Initially, the exposure from the show led to an increase in bookings, and the company experienced a surge in popularity. They continued operating their wine-tasting cruises out of Long Beach, California, and attempted to diversify their offerings. This diversification included introducing new experiences such as private yacht charters, wine blending classes, and a wine club membership.
Despite these efforts, Corks Away faced challenges in maintaining steady growth and profitability. The company was successful in purchasing a second boat and scaling the business slightly. However, it ultimately closed down in 2014, only two years after their episode aired. The exact reasons for the closure are unknown, but it’s likely that they encountered the same issues discussed by the Sharks during the pitch, such as scalability issues and dependency on weather conditions. Their Facebook page has not been updated since 2014, indicating the end of their business operations.
While Corks Away gained temporary success and attempted expansion post-Shark Tank, they were unable to sustain long-term growth, leading to the closure of the business​​​​​​.
Corks Away is no longer in business.
