EPISODE 1
ENTREPRENEUR: Tod Wilson, from
Somerset, New Jersey.
PITCH: Tod owns Mr. Tod's Pie Factory, a wholesale and retail bakery, and wants to grow his business.
ASKING FOR: $460K in return for a 10% stake, so he can outfit a production facility.
BEST PART OF THE PITCH: Tod tearfully explains that he started off to big, too soon six years ago and ended up living in his car. But, undaunted, he regrouped and got his business off the ground again.
THE SHARKS BITE WHEN: Tod reveals McDonald's wants to open a kiosk with his pies in their stores. Three sharks are out, but Barbara and Daymond offer to go in, in exchange for 50% of the company.
RESULT: Tod accepts.
WANT TO KNOW MORE: Visit
whybake.com.
UPDATE: Since making a deal with Daymond John, Barbara Corcoran and Kevin Harrington, Tod Wilson's company, Mr. Tod's Pie Factory, has tripled its business, opened a new retail location and sold tens of thousands of pies on QVC.
EPISODE 2
ENTREPRENEUR: Craig French, from
Long Island, New York.
PITCH: Owner of Crooked Jaw mixed martial arts clothing line, which he's looking to expand from mom-and-pop skate shops to national chains.
ASKING FOR: $200K in return for a 20% stake.
BEST PART OF THE PITCH: Twenty-six-year-old Craig is very charismatic, and even mean guy Kevin O'Leary likes him. He explains that he came up with the name Crooked Jaw when he shot and scored a winning goal while playing Lacrosse in college, but got his jaw broken in the process.
DO THE SHARKS BITE? Despite the Sharks taking a liking to Craig, they're dismayed to learn he returned from his first trade show recently with zero orders, and only made $5,000 in sales last year. In the end, they tell all him they don't see how they'd ever make a profit from investing in Crooked Jaw.
WANT TO KNOW MORE: Visit
www.crookedjaw.net/.
ENTREPRENEUR: Robert Alison, of
Las Vegas, Nevada.
PITCH: Inventor of LifeBelt, safety equipment that prevents you from starting the car without first buckling the seatbelt.
ASKING FOR: $500K in return for a 10% stake.
BEST PART OF THE PITCH: Robert reveals that he owns the patent and the copyright for his invention.
THE SHARKS BITE WHEN: Both Kevin O'Leary and Robert Herjavec see this as a great opportunity to present to the major automakers, but think Robert Alison is the wrong guy to be selling the product. Kevin offers to buy the patent outright for $500K, and Robert ups the ante and offers $1 million for it.
RESULT: Robert, determined to set up a business rather than just sell his patent to someone else, passes on the Sharks' offers.
WANT TO KNOW MORE: Visit
www.nobucklenostart.com/.
UPDATE: A short time ago, entrepreneur Robert Allison turned down a million dollar offer from Robert for the patent on his Lifebelt invention. Since he met with the sharks, Robert signed a multimillion dollar deal with the Gillman Automotive Group, who will be offering Lifebelt to all of their customers in both new and used cars in all of their dealerships. Robert says this is just the beginning and plans to have sales in excess of $10 million. Buckle up, it's gonna be a wealthy ride.
EPISODE 3
ENTREPRENEUR: Marian Cruz
PITCH: Inventor of the Turbobaster, a battery-operated cooking device that siphons juice, has a silicone basting brush and an injector tip for marinades.
ASKING FOR: $35K in return for a 35% stake.
WORST PART OF THE PITCH: Marian reveals she doesn't yet have a working prototype of the Turbobaster. Things go further south for her when she says she has no idea what the estimated manufacturing costs would be for the product.
THE SHARKS BITE WHEN: Despite not knowing her numbers, they still find her to be charismatic. Kevin Harrington, who has experience selling products through infomercials, offers up the $35K for a licensing deal with a 2% royalty. Daymond offers $40K for only 51% of the company and a 2% royalty.
RESULT: In the end, Marian opts for Kevin and his selling-on-TV expertise.
WANT TO KNOW MORE: Visit
www.turbobaster.com/.
EPISODE 4
ENTREPRENEUR: Kwami Kuadey, from
Ellicott City, Maryland.
PITCH: Gift Card Rescue, a web-based company that buys back and sells some of the 10% of all unused gift cards each year in the
U.S.
ASKING FOR: $150K for a 30% stake in his business.
BEST PART OF HIS PITCH: With very little marketing, Kwami is on track to sell 120,000 gift cards this year alone.
THE SHARKS BITE WHEN: He reveals that he was contacted by Amazon with a partnership deal. Kevin O'Leary offers the $150K for 50% of the business, but wants a 5% royalty since it's a startup. Robert says Kwami is the real deal, and partners with Kevin and ups the cash to $200K.
RESULT: Kwami accepts Robert and Kevin's offer.
WANT TO KNOW MORE: Visit
www.giftcardrescue.com/.
EPISODE 5
ENTREPRENEUR: Cactus Jack, from
Iowa.
PITCH: Body Jac, a fitness machine with a series of bands that are different weights, to make pushups easier.
ASKING FOR: $180K for a 20% stake in his business.
BEST PART OF HIS PITCH: Explains that he's always been a risk taker, and has sold 10 million products. He also says he was a millionaire by the time he was 32, flat broke by the time he was 38 but that he got back up and started again.
THE SHARKS BITE WHEN: He's made $7 million off another product. Plus, his body builder daughter demonstrates the Body Jac for the Sharks. Kevin Harrington sees the potential, and offers to put up $90K for 50% of the company. But he says Jack needs to convince another Shark to go in with the other $90K, or his deal is off the table. Barbara offers the $90K on the condition that Jack loses 30 lbs. himself using his product. Daymond says he'll put up the full $180K, but wants 50% of the entire Cactus Jack company, not just the Body Jac.
RESULT: Jack accepts Kevin Harrington and Barbara's offer.
WANT TO KNOW MORE: Visit
http://www.bodyjac.com/.
EPISODE 6
ENTREPRENEUR: Jonathan Miller, from
Chicago, IL.
PITCH: Element Bars, custom energy bars, catered to the taste of the consumer ordering it. Currently shipping 1,000 bars per week, but he's looking to grow to the next step.
ASKING FOR: $150K in return for a 15% stake in his business.
BEST PART OF HIS PITCH: Jonathan explains that customers use the Element Bars website to create a custom energy bar by choosing whole, natural ingredients and choosing their own label. It shows up at the doorstep in seven to 10 days. He also did his homework, and created a customized energy bar for each of the Sharks.
THE SHARKS BITE WHEN: They're all completely wowed by this 29-year-old's savvy at pitching, as well as his ability to negotiate with them. Daymond offers $150K for 75% of the business. Kevin H. offers $150K for 100% of the company, and a 4% royalty forever, or in perpetuity.
RESULT: Jonathan turns all deals down. Kevin H. then counters, offering $150K and a 4% royalty for the licensing rights and 35% of the company. Finally, Kevin comes down to 30% and Jonathan accepts.
WANT TO KNOW MORE: Visit
http://www.elementbars.com/.
EPISODE 7
ENTREPRENEUR: Leslie Haywood,
Charleston, SC.
PITCH: Grill Charms, stainless steel identifying charms that you stick in your food before you grill.
ASKING FOR: $50K in return for a 25% stake.
BEST PART OF HIS PITCH: These charms are labeled so you can tell which foods are rare, medium, well-done or spicy once the grilling is done. Leslie has her product in over 100 retail stores in the
U.S.,
Canada and
Sweden and made $60,000 in her first year.
DO THE SHARKS BITE: Let's just say it's a feeding frenzy! Kevin O. offers 50K for 50% and puts a 7% royalty on it. Kevin H. offers the 50K but also wants a 50% stake. Both Robert and Daymond want in on the deal with Kevin H. When Kevin H. says he'll only partner with Daymond, Robert offers to give Leslie what she asked for at the start. Barbara, however, is out.
RESULT: Four out of the five sharks want a piece of the action. Leslie had been gunning for Kevin H. because of his expertise, but has a problem giving up 50% of her business. Kevin O., feeling a little left out, offers 50K for 20%. But in the end, Leslie partners up with Robert, as she believes he has her best interest at heart.
WANT TO KNOW MORE: Visit
http://www.grillcharms.com/.
EPISODE 8
ENTREPRENEUR: D.J. Stephan & Sean Conway
PITCH: Notehall, a Web site that allows college students to buy and sell class notes and study guides.
ASKING FOR: $90k for a 10% stake.
BEST PART OF THE PITCH: They launched at the
University of Arizona and within eight months, their site was being used by 40% of the students. The note-taker/poster gets a 40% commission per transaction and Notehall takes the rest. They want to use the money to expand in other colleges.
THE SHARKS BITE WHEN: Kevin H. and Daymond are out right away. Kevin O. offers them the $90k for 51%. Barbara offers the same amount of money for 50%. D.J. and Stephan offer 15% and will give up their portion of the company if they don't hit a million dollars in revenue in 24 months. Kevin O. wants 35% and Barbara wants 25%. Robert then offers $115k for 35% which steers Kevin O. to offer the same. Barbara doesn't change her money offer, but does say they can buy her out in six months if they don't like it. Robert and Kevin O. then join forces to match Barbara's offer.
RESULT: The guys opt to partner up with Barbara feeling she was authentic with them from the get-go. This doesn't sit well with Kevin O. It seems this shark can swim on land because Kevin O. leaves the tank and follows the guys out to the lobby. He still can't believe what happened, but offers his congratulations to D.J. and Sean on their business.
WANT TO KNOW MORE: Visit
http://www.notehall.com/.
EPISODE 9
ENTREPRENEUR: Dan Mackey,
Sausalito, CA
PITCH: Chill Soda, a healthy line of soda
ASKING FOR: $50k for a 10% stake
BEST PART OF THE PITCH: It's an organic beverage that has vitamins and antioxidants. It's compatible to regular soda and the sharks like the taste. There's only 85 calories per can. That's pretty good compared to the 140 calories typically found in regular soda.
DO THE SHARKS BITE? Kevin O. talks to Dan about the most important thing needed to be a player in the soda game. The answer: Distribution. There is silence when Dan tells the sharks he's only sold 250 cans to date. But it's all a big misunderstanding. The 250 was actually 250,000. Ohhhh! Daymond says, "Dan, you just gave yourself mouth-to-mouth." But then Dan says, he's a marketing guy and doesn't really know the beverage industry. That was the wrong thing to say because Kevin H., Daymond and Robert all quickly bail. Kevin O. doesn't want to get involved in such a competitive industry. Barbara, however, is impressed at how honest Dan is as he answers their questions, even if those responses are to his detriment. The guy's a straight-shooter and she likes that.
RESULT: All of the other sharks tell Barbara she should not invest in Dan's company. These naysayers are adamant about it. But she thinks they are being soda jerks and remains undeterred by their lectures. She offers to give Dan the $50k but for 20% equity. Dan happily agrees. Drink up!
WANT TO KNOW MORE: Visit
http://www.chillsoda.com/.
EPISODE 110
ENTREPRENEUR: Michele Kapustka and Melisa Moroko
PITCH: SENDaBALL, a "greeting" ball you send friends in the mail.
ASKING FOR: $86k for a 20% stake
BEST PART OF THE PITCH: SENDaBALL is an Internet-based greeting company that sends fully-inflated play balls through the mail. There's no box and no bubble wrap. The address and the stamps go right on the ball, as does the greeting. The $86,000 seems like an (forgive us) "oddball" number. But as Michele explains to Robert, that's exactly the amount they need to build a machine to help mass produce the balls. They make about $15 per ball and have had $100,000 in sales in a year.
DO THE SHARKS BITE? Kevin O. and Robert like the ladies, but can't see getting into in the ball business. Kevin H. and Daymond don't see anything proprietary about their idea. They are all out. Only Barbara seems to be bouncing back and forth with her decision to invest. At the end of the day, she doesn't think Michele and Melisa need her. They are going to be successful with or without the sharks. She's out. That's just the way the investment ball bounces.
WANT TO KNOW MORE: Visit
http://www.sendaball.com/.
EPISODE 11
ENTREPRENEUR: Jeff Wolsky
PITCH: The Bobble Place, producer of custom-made bobbleheads.
ASKING FOR: $75,000k for an 18% stake.
BEST PART OF THE PITCH: Jeff can make custom-made bobbleheads from photos provided by the client. He even brings in some sample bobbleheads of the sharks. All the heads bobble, but only the likeness of Kevin O. is seen holding a handful of cash. Jeff has an existing online business and wants to launch a separate company to set up retail kiosk locations in shopping malls.
DO THE SHARKS BITE? Jeff appears to be hiding the fact that he has an existing online business that makes seven figures. Several sharks want a piece of that action before investing in this new business. Kevin H., Daymond and Barbara are out right away. Kevin O. offers Jeff the $75k for an 18% stake in his existing business. He also forbids him from any more mall talk, as he thinks it's more important to see the already successful business grow. Jeff says he doesn't need the money for his existing company and declines the offer. Kevin O. then offers $100k for 20% and Robert offers $125k for 20%. Jeff counters by saying he'll accept both offers, but Robert and Kevin O. only get 10% each.
RESULT: Jeff is asked to leave the room while Robert and Kevin O. chat. They realize that Jeff doubled the price once Robert got involved. They call Jeff back and offer $100k for 20%. Jeff declines and Robert goes back to his original offer. That's still not good enough for Jeff, who offers 7% for 100k. Robert thinks this relationship is a little too complicated and he's out. The sharks do get to keep the bobbleheads though.
WANT TO KNOW MORE: Visit
http://www.webobble.com/.
ENTREPRENEUR: Sandy Hyun & Roman Pietrs
PITCH: Mr. Poncho, a protective covering for MP3 players and the like that solves the problem of tangled headphones cords.
ASKING FOR: 50k for a 25% stake.
BEST PART OF THE PITCH: They've been in business for two years and have shown a profit each year. They have a patent pending on the unit as a whole, but not the device that holds the headphones. The product sells for about $18 and cost about $3 to make. Sandy and Roman have been making them in their apartment and are looking to grow.
DO THE SHARKS BITE? Robert doesn't like the product. He feels that kids won't want to buy it because they likely won't want to cover their MP3 players. Barbara is out because they don't have a patent on the headphone holder. Kevin H., Daymond and Kevin O. can't invest either, but the couple is encouraged to continue their business as young entrepreneurs.
WANT TO KNOW MORE: Visit
http://www.mrponcho.com/.
ENTREPRENEUR: Dr. Floyd Seskin
PITCH: The URO Club.
ASKING FOR: $25k for a 51% stake.
BEST PART OF THE PITCH: Dr. Seskin is a board-certified urologist and golfer. A doctor who plays golf? How weird is that? Many of Dr. Seskin's patients also golf and, since he's a urologist, you may have guessed that many of them also urinate...a lot. He's designed and produced a receptacle device for those times you really have to go wee-wee while playing putt-putt. His product looks exactly like a seven-iron except for the wider grip that functions as the reservoir.
DO THE SHARKS BITE? Daymond says he wouldn't know how to market the product, so he's out. Barbara says she obviously can't relate to the product (guess she doesn't golf), so she's out. Robert says he can't invest in something he'd never use. Kevin O. is out, too. Only Kevin H. shows interest in making a deal.
RESULT: Kevin O. says to Kevin H., "You're gonna buy the pee-pee pole?" Kevin H. says he'll invest the 25k but for 70% of the company. Dr. Seskin takes the deal and feels Kevin will make the product a huge success. Congratulations, Dr. Seskin. You made a deal and now "urine the money."
WANT TO KNOW MORE: Visit
http://www.uroclub.com/.
ENTREPRENEUR: Brian Duggan & Adam McCombs
PITCH: Jump Forward, an online service allowing high school athletes and parents to profile their skills to market themselves to colleges.
ASKING FOR: $150k for a 10% stake
BEST PART OF THE PITCH: The colleges pay a subscription fee as well as fees for maintenance and consulting. They have 30 schools signed up, 300 college coaches and 60,000 prospective athletes in the system. They've generated $150k in contracts in three months and believe it could be a 35 million dollar business. They proactively enforce the recruitment rules of the NCAA and have a patent on the mobile application aspect of contact between coaches and recruits.
DO THE SHARKS BITE? Barbara and Kevin H. are scared off by the risk of the technology business. Daymond is afraid it's all a little too complicated. They are out. Kevin O. is very impressed with the knowledge and expertise Brian and Adam bring to the table. He offers them $200k for 20%. Robert is equally impressed and offers them $300k for 35%. For the second time this episode, Kevin O. asks the entrepreneurs to step out of the tank so he can chat with Robert. Kevin O. suggests they collude with each other so they don't compete and drive up the price.
RESULT: Robert and Kevin O. offer $400k for 50% of the business. That offer is rejected. Robert then offers 600k for 50%. Brian counters by saying 50% will cost them $750k. But Robert and Kevin O. don't budge. It's a tense showdown until Brian finally says, "Done."
WANT TO KNOW MORE: Visit
http://www.jumpforward.com/.
EPISODE 12
ENTREPRENEUR: Michael and Babz Barnett
PITCH: Romp N' Roll, a chain of children's play and learning centers
ASKING FOR: $300k for 10% stake in his business.
BEST PART OF THE PITCH: They have 10 Romp N' Roll locations from
Pennsylvania to
Puerto Rico. They've already done $4 million in revenue over the past five years. There are classes for gym, art and music all under one roof. Their tagline: "Nurture the genius. Unleash the goofball."
DO THE SHARKS BITE? Kevin O., Kevin H. and Daymond are pretty much out right away. Barbara had a bad experience at Gymboree, so she's out, too. Michael and Babz would like to respond to the issues that all the fleeing sharks have with their company. This bugs Robert. He's still in and yet they seem to be focusing their energy on those who are out. Nevertheless, he offers to give them the $300k for 51% of the business.
RESULT: As the Barnetts discuss the offer in private, Kevin O. offers to go 50-50 with Robert. When Michael and Babz return, they make it clear that they do not want to give up control of their company, so they counter with an offer of 20% equity. But Robert and Kevin just can't Romp N' Roll without control. They are out.
WANT TO KNOW MORE: Visit
http://www.rompnroll.com%20/.
ENTREPRENEUR: Marix Stone & Dr. Nancy Tanchel
PITCH: Hells Bells Helmets, designer helmets that are safer and stronger than the competition
ASKING FOR: $500k for 20% stake in the business.
BEST PART OF THE PITCH: They own a utility patent to place 3D designs on motorcycle helmets as well as any other kind of sporting helmet. They are on track to bring in $300k in sales for the motorcycle helmet alone. Kevin O. tries on one of the helmets bearing a fiery 3D skull design. Ever seen a shark ride a hog?
DO THE SHARKS BITE? The Kevins feel that the potential is great, but they can't bring themselves to cut a check for a half million bucks. It's not Barbara's cup of tea, so she's out. Daymond offers to go 50-50 on the deal with a plan to license the product to a bunch of companies. Robert was going to offer $500k for 70% equity, but knows that Daymond's offer is better. So he's out.
THE RESULT: Marix and Nancy know that Daymond has a great history with branding and sales. They take the deal and hope to wear these helmets while cruising down the road to riches.
WANT TO KNOW MORE: Visit
http://www.hellsbellscustoms.com/.
ENTREPRENEUR: Alfonzo Dowe, Sr.
PITCH: The Twister, a portable golf ball cleaner.
ASKING FOR: $85k for a 40% stake
BEST PART OF THE PITCH: Alfonzo says, "They call me Fonz. And I was Fonz before the Fonz was the Fonz." Now we all know that the Fonz of which he speaks has become infamous for "jumping the shark." But this Fonz has opted to swim with them. Fonz is not a businessman by trade. He's a policeman. Daymond would like Fonz to use his nightstick on Kevin O., who in turn would like him to arrest Robert (just for the heck of it). Fonz says, "After me and you get a deal, your wish is my command."
DO THE SHARKS BITE? Kevin H. sees this as a seasonal product and Barbara hates golf, so they are both out. Robert doesn't see it as a hole-in-one either. When Fonz admits he needs the money for inventory for orders he does not yet have, Kevin O. is out. Daymond likes the idea, but he knows nothing about the sport. He's out, too. Looks like Fonz will have to figure out another way to go for the green.
WANT TO KNOW MORE: Visit
http://www.thetwistercleaner.com/.
ENTREPRENEURS: Andy Sperry
PITCH: Ink Flip, ink cartridges for printers
ASKING FOR: $150k for a 20% stake
THE BEST PART OF THEIR PITCH: Andy provides Ink Flip customers with spare or backup cartridges for their computer printers in individually packaged boxes. The next time the ink runs run dry, customers take the full cartridge out of the box, pop the empty one back in, and mail it off in the prepaid, preaddressed box to go into the outgoing mail. Ink Flip then sends back a refilled cartridge.
DO THE SHARKS BITE? Robert says, "Your business model is predicated on getting customers, but you don't know the cost of getting those customers." Because he doesn't have that info, Kevin O. is out. Kevin H. and Daymond also bail fearing the risk involved. Robert and Barbara don't want to offer up their money to test the market. They are out as well. In the end, the sharks feel that Andy can still get what he wants, but the journey may take a little longer than he'd hoped.
WANT TO KNOW MORE: Visit
http://www.inkflip.com/.
EPISODE 13
ENTREPRENEUR: Nate Berkopec
PITCH: The Factionist, an ethical and environmentally-friendly apparel brand
ASKING FOR: $30k for a 20% stake.
BEST PART OF THE PITCH: Nate is a student at
New York University who makes organic t-shirts featuring socially conscious messages. He's easy to like and very enthusiastic. Regarding his product, Nate says, "The Factionist is not just another apparel brand. It's a movement. It's time for you to invest in
America's future." He has $3,000 in sales in six months but needs money to expand.
DO THE SHARKS BITE?The t-shirt business is brutally competitive. Robert says, "Nate, there are millions of other people with a movement who have more brand, more credibility, more PR, more everything." That seems to sum up what all the sharks are thinking. He doesn't have a brand on his shirt, so no one will know how to find what he's selling.
RESULT: As much as they like this guy's passion, no one can get behind the idea. Robert says, "You've got the passion. Don't ever lose that because that's infectious and you'll go a long way." Hey, Nate's only 19. Maybe we'll see him again someday back on Shark Tank with a better product.
WANT TO KNOW MORE: Visit
http://www.thefactionist.com/.
ENTREPRENEUR: Anthony and Tina Calvert
PITCH: The Podillow, a face-down tanning and massage pillow with storage pockets
ASKING FOR: $250k for a 33% stake.
BEST PART OF THE PITCH: Anthony is a 20-year veteran of the San Diego County Sheriff's Department. He admits that he's taken some razzing from his fellow officers over such a, well let's call it "fluffy" product. But it is practical because lying on your stomach is tough to do without the proper implement to prop up your head. They've sold about 6,000 units over two years. They cost about seven bucks to make and sell for $29.95. They are in two major catalogues and had to turn down purchase orders because they didn't have the inventory.
DO THE SHARKS BITE? Kevin O. doesn't believe the company is worth the asking price. Kevin H. thinks the Podillow is made for the beach. He doesn't want to invest in a seasonal/regional product. He's out. Daymond loves the product but thinks they missed the mark with the evaluation. He's out. Barbara and Robert feel the same way.
WANT TO KNOW MORE: Visit
http://www.podillow.com/.
EPISODE 114
ENTREPRENEUR: Jill Quilln
PITCH: LipStix ReMix™, a way to save the lipstick that gets stuck at the bottom of the tube.
ASKING FOR: $105k for a 30% stake.
BEST PART OF THE PITCH: Jill has created a product that melts, mixes and molds the last bits of lipstick in a tube that simply won't twist up. You microwave the leftovers from three used tubes and pour them into a mold. Freeze it for ten minutes and then pop it into a brand new tube.
DO THE SHARKS BITE? All of the sharks love the idea and are most-impressed with Jill. Unfortunately, Robert and Kevin O. just aren't lipstick guys, so they bail. Barbara is interested, but only wants to give her half the cash. Daymond offers the full amount for 40%. Kevin H. offers to partner with Barbara for 40%. Then Daymond suggests to Kevin that they partner and cut out Barbara altogether.
RESULT: Barbara is initially ticked by the snub and won't even consider the three-way deal Kevin H. offers. But she reconsiders when Jill steps out to call her husband. But now they want 50% of the biz. Jill says, "That's was the fastest 10% I ever lost." Nevertheless, she puckers up and takes the deal.
WANT TO KNOW MORE: Visit
http://www.lipstixremix.com/.
ENTREPRENEUR: Tim Gavern
PITCH: Captain Ice Cream, a mobile novelty ice cream vending business.
ASKING FOR: $48k for a 25% stake.
BEST PART OF THE PITCH: Tim has a very unique ice cream moped and a wholesome Captain Ice Cream experience that he hopes to franchise. Daymond is impressed that Tim has trademarked the phrase "Captain Ice Cream." Also, the ice cream is quite tasty.
DO THE SHARKS BITE? Tim only sells about $200 worth of ice cream per day. As Barbara points out, he's selling a concept. Daymond likes Tim's attitude, but the business isn't big enough. He's out. The rest of the sharks would happily buy ice cream from Tim; they just can't buy into his business. They are all out. Tim leaves the Shark Tank, but forgets to bring his "Captain Ice Cream" moped. That was a mistake, as the sharks raid the contents and Robert takes the vehicle for a joyride. We just hope he doesn't assume Captain Ice Cream's identity. After all, it is trademarked.
WANT TO KNOW MORE: Visit
http://www.captainicecream.com/.
ENTREPRENEUR: Michael Schiavone
PITCH: Caffeindicator™
ASKING FOR: $200k for a 25% stake.
BEST PART OF THE PITCH: Michael came up with his idea after a late-night stop for some grub where he was likely served some caffeinated coffee. He has placed a litmus-like indicator on sweetener packets. It changes color in the presence of caffeine. The sweetener packet market is about a $12 billion industry. Michael wants to create a sugar bowl brawl between all the major players out there fighting for market share. Sweet!
DO THE SHARKS BITE? Everyone is intrigued by Michael. Kevin O. says, "You know there's something nasty about you I really like." It's a compliment, in case you didn't know. Barbara doesn't think the public is as caffeine-conspiracy-minded as he needs them to be. She's out. Daymond, too. Robert offers the $200k for 60% contingent on getting a deal with one of the major players. Kevin H. will also give him the cash, but for 50%. Kevin O. can't seem to decide if he's in or out.
RESULT: Kevin H. is tired of waiting to hear from the wavering Kevin O. He says he needs an answer or he's taking his offer off the table. So, Michael gives him one. They have a deal. They can work out the details over coffee. Decaf, of course.
WANT TO KNOW MORE: Visit
http://www.caffeindicator.com%20/.
ENTREPRENEUR: Jeff and Annie Hughes
PITCH: LegalGrind, a coffeehouse that is also a legal resource center.
ASKING FOR: $200k for a 15% stake.
BEST PART OF THE PITCH: Jeff is a lawyer who was spending more time in coffeehouses than courthouses. So he opened up his own coffeehouse that offers legal info and services. They've been in business since 1996 and they net around $20,000-$30,000 per year. Jeff and Annie want to target the middle class and they have a list of franchisee requests.
DO THE SHARKS BITE? Some of the sharks question the coffeehouse aspect of the idea. Kevin O. wonders why this isn't done on the Internet. Jeff and Annie argue that people like the human interaction and prefer dealing with real people. It's all about making the client feel comfortable. But it all comes down to money and Kevin O. says there's no money in this. Annie disagrees, vehemently. At the end of the day, no one sees the possibility for a successful franchise venture. They are all out.
WANT TO KNOW MORE: Visit
http://www.legalgrind.com/.
SHARK TANK - EPISODE 115
ENTERPRENEUR: Jan Augenstein
PITCH: Fridge Fronts, a magnetic skin with a decorative finish that can be applied to any appliance
ASKING FOR: $100k for a 30% stake
BEST PART OF THE PITCH: When Jan had a home on a military base, Uncle Sam provided her with a less-that-attractive refrigerator. So, she developed a magnetic designer fridge front to pretty things up. She has a patent and has made sales through SkyMall. She also got a shout-out from Rachel Ray. Any success Jan's had has been plagued by setbacks, which she discusses openly and honestly. She wants the cash to keep her business going, but also to pay back her supportive brother, who invested heavily in the product.
DO THE SHARKS BITE? Kevin O. believes this could be a product that people buy but, because it's not a company, he's out. Robert and Daymond quickly follow his lead. Both Barbara and Kevin H. are interested. They'll do a tag-team deal where they'll invest $50k each. But they want a 50% stake.
THE RESULT: The Shark Tank is Jan's last hope for her product. She appreciates the fact that Barbara and Kevin are willing to take a risk. For that reason, Jan believes they deserve half her business. She has two new partners on the Fridge Fronts front. Cool!
WANT TO KNOW MORE: Visit
http://www.fridgefronts.com/
ENTERPRENEUR: Bob Kroupa
PITCH: New Era Brands, Clip 'n' Go cases for mints, gum and contact lenses
ASKING FOR: $500k for a 30% stake
BEST PART OF THE PITCH: Bob's product seems like a breath of fresh air in the world of tiny travel cases. The product holds your mints or gum in a protective case featuring a clip so you can attach it to your belt, backpack or whatever. Now he's introducing a new case to hold contact lenses. The sharks perk up a bit when Bob says he had $817,000 in cash last year in sales. But there's more to the story.
DO THE SHARKS BITE? The sharks don't understand how there can be $800,000 in sales without any profit. Bob explains that the overhead was ridiculous. Kevin O. says, "Well, that's your fault." The stores that sold the product placed it on the shelves for promotional periods but didn't reorder. Kevin O. believes Bob had a sugar spike with his product. The stores bought in bulk but couldn't justify keeping it on the shelves. And not one shark can justify an investment. Clip 'n' Go is a no-go.
WANT TO KNOW MORE: Visit
http://www.clipngo.com/
ENTERPRENEUR: April Morris
PITCH: Thin Gloss, an aromatic lip gloss that helps curb your appetite
ASKING FOR: $80k for a 20% stake
BEST PART OF THE PITCH: April discovered an herb from
South Africa that has been known to fool your brain into believing your stomach is full. There are other aromas that, when inhaled, help enhance your energy and boost your mood. She combined these ingredients into Thin Gloss. She had $26,000 in sales last year and hopes to break a million this year, as she has a contract with one of the largest cosmetic distributors in
India.
DO THE SHARKS BITE? Robert doesn't believe a lip gloss that's promoting weight loss would be a huge seller in a poor country like
India. Kevin O. worries about ticking off the government with weight loss claims, so he's out. Barbara, Kevin H. and Daymond feel the same. They're out, too. Robert simply doesn't believe the company can grow at the rate April thinks it will and he's out. April thanks the sharks for their consideration and plans to prove them wrong a year from now. That's not just lip service. That's confidence. You go, April!
ENTERPRENEURS: George Podd & Rolf Schwartz
PITCH: Lightfilm, a light-up decal for car windows
ASKING FOR: $100k for a 5% stake
BEST PART OF THE PITCH: First of all, the product is pretty cool. A motion/light sensor sets off an animated peel-and-stick decal that attaches to car windows. Though it could be used as a safety device, the key market is for sports fans looking to promote their teams. The sample they show the sharks needs a power cord, but their next version is wireless.
DO THE SHARKS BITE? Kevin H. thinks they need a lot more cash, so he's out. Kevin O. is intrigued by the product but feels that even if he gave them a million bucks, they still need a strategic distributor. He's out, as is Robert. Not only is Barbara the wrong partner, she's also the wrong customer. Daymond, however, is interested in the wireless version. He can offer some of his licenses and a manufacturing deal. But he wants 75% of the company.
THE RESULT: George and Rolf want to recoup their original investment. They would like $750,000 for a 51% stake. Some of the other sharks suggest that George and Rolf could get an accelerated share of the profits until the $750,000 is paid off. Daymond would go for that and Robert is suddenly interested again. George and Rolf still want a little more up front, but realize that's not going to happen. They make the deal to give up 70% of their company to assure that Lightfilm's future remains bright.
