Cupko

Quentin Crousle, from Toronto, ON, asked for $200,000 for 20% of Cupko Canada, a company selling reusable plastic cups and containers for events, festivals, and restaurants as an alternative to disposable items. Cups cost about 40 cents to make and sell for 80 cents to $1.50; a previous version of the business used a deposit model at events like Coldplay concerts and Osheaga, charging a $2 deposit split between Cupko and the promoter. Quentin previously ran a similar business in Quebec that grew to $1.5 million in annual sales before he sold his shares, but under the current company, Cupko Canada, he has made $50,000 in revenue with about 17% net margin.

Manjit Minhas went out due to distrust in his ability to turn a profit given the numbers presented. Arlene Dickinson and Vincenzo Guzzo went out citing insufficient margins and a pricing model that would not work for volume buyers like movie theatres. Michele Romanow said the business does not have enough revenue to justify investor returns, and Wes Hall said the business needs more patient capital than his investment timeline allows. No deal was made.

Cupko is still operating and sells through its website.