Nick Romero, a resident of Venice Beach, California, visits the Shark Tank for episode 306 to present his company, The Ave Venice, to the Sharks.
While on vacation, Romero visited a t-shirt printing shop in Chicago and discovered iconic local designs.
The idea was born from Romero’s belief that Venice Beach deserved its custom shop.
He customized the machine and developed software to provide sneakers with unique artwork for two years.
The Ave Venice is a sneaker selling business in Venice Beach, Los Angeles (LA). They were founded in 2010 and are located in California.
Nicky Romero founded The Ave Venice after discovering a t-shirt printer in Chicago that sold t-shirts with original artwork designs, encouraging him to open his store in Venice.
The customer can customize the artwork they want to be printed or choose from several pre-designed options. Romero researched printing and purchased his t-shirt printing machine.
It has been his life’s ambition to create a clothing line that allows teenagers to express themselves, which is why he started this.
The Ave Venice was previously on Shark Tank when Romero sought $125,000 in financial assistance and offered 15% of the shares in exchange.
Will the Sharks go for Romero’s custom printing business?
What Is The Ave Venice?
The Ave Venice is a custom and unique printing firm that prints designs on shirts, hats, and various other clothes.
A custom printing enterprise specializing in clothing and sneakers, The Ave Venice, was presented by Nick Romero of Venice Beach, California.
A shirt printing machine was purchased, and he spent the next two years customizing it and creating software that could print bespoke artwork on sneakers.
He brought out his “secret sauce” in the form of a patent-pending locking plate.
Nick allows customers to bring in their artwork or choose one of his designs to have their clothes or sneakers printed while they wait.
|Company Name||The Ave Venice aka The Ave Los Angeles|
|Product||Footwear and apparel with custom screen-printing|
|Investment Asking For||$125,000 for 15% equity in The Ave Venice|
|Final Deal||No Deal|
|Episode||Season 3 Episode 10|
|Business Status||In Business|
Who Is The Founder Of The Ave Venice?
Nick Romero is the founder of The Ave Venice.
The Ave Venice Before Shark Tank
Nick Romero resides in a community in Venice Beach, California, that appreciates the beauty of the environment.
Yet, it was not until he visited Chicago that he found the perfect means of expressing himself.
Romero discovered this handmade t-shirt company while on vacation.
There was a certain level of exclusivity in this shop due to the artwork composed entirely of classic local designs.
Romero then determined that Venice Beach required its own handmade shirt business.
Therefore, he set out on a mission to acquire his shirt printing machine. After acquiring it, Romero spent at least two years customizing the software to print bespoke art pieces on shirts and sneakers.
Once his establishment was established, The Ave Venice drew much interest.
People loved the capability of bringing in their artwork and having it printed on t-shirts or shoes.
Romero has done quite well for himself thus far, but he wants to do more with his business, which is why he chose Shark Tank.
He wants to establish a partnership, not just because of the monetary commitment but also because of the Sharks’ business skills.
How Was The Shark Tank Pitch Of The Ave Venice?
Romero appeared on Shark Tank seeking an investment of $125,000 in exchange for a 15% equity in The Ave Venice.
He already has a business set up when he arrives with the Sharks. Customers can bring their artwork or choose from available design options while waiting, and apparel is printed as soon as they arrive.
Romero displays his attire to the Sharks, explaining that dress is an expression for young people.
His printing machine operates on stage, producing sneakers within a few seconds.
Daymond John gets right to the heart of the matter, posing the question, “So, it’s all about the machine?”
Romero’s secret to success is the attachment he uses to hold the sneakers in place, a patent-pending plate.
Romero’s 470-square-foot store has earned $570,000 in sales and a profit of $150,000 since it opened.
Daymond John is intrigued by Romero’s business concept even though the Sharks are thrilled with the data.
He plans to expand his existing retail location and franchise the Ave Venice, operating as a retail outlet during the day to service walk-in customers and as a “fulfillment center” at night to process online orders.
Daymond John refers to Romero as “cool” but claims to have lost a substantial amount of money “on the cool guys.” They remained cool, but I was out of money.” He has departed.
However, they acknowledge Romero’s commitment to his current business model and enthusiasm for customizing art, despite urging him to change his business plan and license his adopted technology.
Robert Herjavec is adamant that he will not “modify his business strategy.” He has departed.
Romero asserts that he is “all about money” and seeks a partner to assist him in expanding his firm.
Kevin O’Leary affirms that he despises shopping despite respecting Romero’s attitude and exiting the store.
Barbara Corcoran claims Romero “has fallen in love with retail.” She has escaped retail. Mark Cuban is the sole survivor.
Cuban is interested in learning how much Romero wishes to be compensated as he creates the business.
When Romero refuses to give him a number, claiming he is already surviving off the store’s profits, Cuban informs him that he cannot provide him adversity, which “makes all the difference.”
He believes Romero is not hungry enough. Romero exits the Shark Tank without a deal.
What Happened To The Ave Venice After Shark Tank?
Although Nick failed to convince the Sharks to invest in his business, he established a name for himself and The Ave Venice.
Romero has established himself as an exceptionally popular designer with a notable clientele.
Nick Cannon, Aaron Paul, and Johnny Knoxville are just a few celebrities who wear his clothing.
He has had top-tier celebrities wear his outfits, and he has also been featured in numerous publications.
There have been articles about The Ave Venice in Rolling Stone, MTV, and The Wall Street Journal.
If you’re interested in learning more about the rave, you can visit their official website at http://www.theavevenice.com/.
Additionally, The Ave Venice maintains a Facebook page and other social media profiles that provide daily updates on the business.
It is almost certain that Nick Romero will continue to be a huge success in today’s culture, and it is almost certain that the Sharks are coming up blanks right now.
The Ave Venice Shark Tank Update
Romero continues to build The Ave Venice despite his defeat in the Shark Tank. Today, he is a well-known designer, offering bespoke outfits in his Venice boutique.
He has many fans and has had his shirts and shoes worn by celebrities.
Romero could not sell his idea to the Sharks, but he has developed a business model that will continue to sustain his “LA lifestyle” for many years to come.
Nick was ultimately granted a patent for his invention in 2014. They relocated from Venice to a 5000-square-foot facility in downtown Los Angeles and rebranded as The AVE, Los Angeles.
The patented technique allowed him to obtain licensing deals in the United States of America, Europe, and Canada.
This resulted in collaboration with NVR SHOES, the world’s first casual shoe brand with a shoe specifically developed for direct-to-garment printing.
Customers can design their shoes or choose from various pre-printed, licensed pictures on shoes.
The Ave Venice is growing beyond Sharks expectations and generates above $3 million as 2022.
Is The Ave Venice Still In Business?
The Ave Venice obtained a patent for its shoe technology and now licenses exclusive shoe designs via their online/wholesale business.
They now have a company that produces an exclusive shoe for The Ave Venice, making this an amazing niche business. Still, Nick Romero misses a huge opportunity to license the technology.
He could have generated significantly more money by licensing his technology to other companies, important companies. He is now constrained by the amount of material he can make.
Nick’s shoes have been featured in various media, and they are rather cool. Nick receives substantial attention for his work, which indicates he doesn’t care about the money but more about the LA lifestyle, even though he preaches the opposite.
The Ave Venice is still in business as of 2022, with annual revenue of $3 million.