Last week LCU held its 5thannual Chap Tank event. Chap Tank is a spin-off of the ABC show Shark Tank, with LCU students presenting their business plans to the judges. The event had four serious contenders who entered their business ideas into the competition to be judged. There were four judges, all with expertise in the business world.
Who were the judges?
Four judges were selected to give insight about the business ideas and to select the winner. Each judge came from a different area of business expertise:
- Matt Bumstead, professor and CEO in residence at LCU
- Roger Lowe, founder of Lowes Foods
- Landon Holly, project management director, City Bank
- Rick Taylor, CEO of ARBOR Eyewear.
Students helping put on the event
Along with the four judges, a few students from the LCU School of Business were huge influences in getting Chap Tank going this year. Caleb Dansby, a senior business major, was very motivated to make sure this competition happened for the fifth time and continues to grow even after the competition this year. Dansby stated, “Momentum has been growing for this event and I hope it will continue to grow.”
The team responsible for putting on the competition made it so that everyone that took the time to create a presentation received an award, so four prizes were awarded.
Awards given out
Fourth place went to freshman math major Bo Franklin for his BINKS Customs company idea. Binks Customs is designed to sell custom-made LEGO figures. These LEGO figures can be creations that are already sold by LEGO but may be hard to acquire, or new creations for that his customers want which don’t already exist. This unique idea landed Franklin and Binks Customs $100 for the fourth-place finish. Dansby stated, “Hopefully having a freshman compete in the competition will encourage lower classman to enter into the event next year.”
Third place went to senior math major Keelyn McInroe. McInroe’s business is called Dry Bones Curb Painting. Dry Bones Curb Painting specializes in painting the numbers for addresses on the curbs of driveways. They offer unique and custom art, including American Flag graphics, skulls and crossbones (if you want something edgy) and other unique designs. This idea landed McInroe the third-place prize of $250.
Finishing as runner-up in the competition was junior business administration major Brandon Hackett. His company, Hackett Games, is an independent video game design company. Hackett came to LCU already having a degree in video game developing. He wanted to attend business school to further his knowledge in the video game development business. Along with Hackett’s idea for this business, he also wants to use LCU students as interns for his new company when it gets started. This would give LCU students wanting to get into video game design a chance to gain some great experience at Hackett Games. Hackett’s idea gave him the second-place prize of $500.
The winner of Chap Tank was senior business major Josh Ybarra, for his company called Bricks and Minifigs. Bricks and Minifigs is an already existing company that buys and sells Lego products. It can be described as the Game Stop for Legos. It is a place where kids and even adult collectors can come to find a Lego piece they are looking for. Bricks and Minifigs already has three locations in Texas, and Ybarra’s idea is to create a new branch of the store in the Houston area. His presentation landed him in first place and the prize of $1000.
Chap Tank success
The competition was held in the new Dobbs business building in the main auditorium, which holds 50 to 60 people. The room was packed for the start of the competition, with people even standing and sitting on the floor. There was also representation from different grade levels and different departments at LCU. The turnout for Chap Tank 2019 was definitely what Caleb Dansby was hoping for,.along with the good praise from students and faculty about the event and the great ideas presented