First in the newly refurbished Tank
OWNER: Marian Cruz
OFFER: $35K for a 30% stake
She believes that every home cook will
want her new product after years of using bulb basters that don't baste
and basting brushes that don't brush. The battery-operated gizmo is a
bulb baster, a basting brush, and an injector tip for marinades. She
only has a non-working prototype and a dream. And her rationale for the
product? "It does more than one thing." That's all she has.
She's a nice enough person who couldn't
tell O'Leary if he could make a profit, so he's out. Barbara's out for
the same reason. Robert follows suit, as he says that Marian has only a
bubbly personality that the Sharks love and little else. Harrington
knows that there is a market. He decides to make an offer of $35,000
plus a 2% royalty for 100% of the product.
But we're not done yet. Daymond counters
with $40,000 for 51% plus a 2% royalty. He wants to build a bigger brand
as a manufacturer. He raises to $50,000.
So Marian could take Daymond's offer and
be a partner on the manufacturing side... or give it all to Kevin H and
focus on marketing. In the end...
ACCEPTED: Kevin H's offer of 100% for
$35,000 and 2% of the profits
OWNER: Bryan Parks; Eugene, OR
PRODUCT: Chopstick Art
OFFER: $100K for a 10% stake
Living in Eugene, Brian stays true to his
goals of being a "green" advocate. He was aware of a resource that was
going to waste thanks to living in China for a time. That product
specifically... art made of chopsticks. He has recycled a few chopsticks
into lamps and wine racks. His best selling product is a fruit basket
worth $30 that folds up.
He's done 500,000 in sales, but he only
started making a profit when he made the fruit basket, charging over
$100,000 for the capital.
O'Leary does the math and calculates
Bryan's guesstimation as a million dollar business. Harrington says that
this is not a "gotta have" product. It's a "nice to have". He's out.
Robert thinks that it's a small business. He's out and so is Kevin...
and Daymond... and Barbara basically says that he's got no business
being here. All the Sharks are out, but Robert does get a fruit basket
for his wife.
OWNER: Lori Lite; Marietta, GA
PRODUCT: Stress Free Kids
OFFER: $250K for a 20% stake
She's a mother of three who has a very
stressful brood. Her aunt forced her to go to stress-management classes.
She used the techniques she learned on her son... and it inspired a home
business. Her house is on the market, and she believes that parents need
to know about this product. Will the Sharks bite?
She created a story that entertained and
incorporated a stress-management technique. That turned into a line of
books and CDs that promoted such things. She wrote, produced, and
published her own material, her best being "The Angry Octopus". She
moved 30,000 units totaling $180,000, making $50,000 in profit. O'Leary
wants to know why she hasn't gone to a publisher. She did go for the
first two books, but they didn't pay well. The only way she'll make
money is massive distribution through Borders, Barnes & Noble, and
Robert's lost by having all of the
distribution channels, yet nothing's happening. He does the math as a
million-dollar business is only making $50,000. Lori thinks that some of
this is from belief. Robert's out. Harrington would only focus on ONE
item. He's out. O'Leary offers up $250,000 for EVERYTHING. Lori...
refuses. Kevin's out. Daymond offers $250,000 for 51%. Barbara counters
the same deal for 50%. So does she want equal partnership or does she
want the Angry Octopus brand to be out there?
Lori decides to phone-a-friend, her
husband Rick. He says that she has to play hardball and that Daymond's
offer wasn't what they were considering. She comes back with an offer
for only 40% for $250,000. She thinks that it's fair. Barbara withdraws
her offer then and there. Daymond also withdraws his offer if he cannot
Lori loves Daymond's idea... but
Barbara's deal is more attractive.
ACCEPTED: $250,000 for a 50% stake
And no, Lori doesn't know what happened.
OWNER: Ken Bradford
PRODUCT: 50 State Capitals in 50 Fun Minutes
OFFER: $155K for a 10% stake
Flash cards... CD... Guy in a funny suit.
Example: PENCIL-vania through a HAIRY BURGER (Harrisburg). Ar-CAN SAW
through a can and find a LITTLE ROCK. COW-lifornia has his TOE on a SACK
of MINTS (Sack Mint Toe... Sacramento).. I got a million of these!
He sold... ONE. The business is not worth
anything right now, so Kevin O is out. Barbara thinks that it's an
adorable idea, but again, the business is not worth anything. Same with
Harrington and Daymond. Robert has a couple of cards for him... Eye...
Last into the Tank tonight...
OWNER: Jeff & Josh Cohen, Pleasanton,
PRODUCT: Voyage Air Guitar
OFFER: $500K for a 5% stake
The Cohen boys love music and credit it
for fostering a father-son relationship. This all may be for naught if
he doesn't get the backing that the Sharks can provide.
The guitars don't just look good or sound
good... they also fold in half thanks to a patented hinge. It fits on
her back. Kevin O wants to see if he'll have to retune it after putting
it back together... He also wants to show off his mad guitar skills.
The Cohens own the patent to the hinge.
They launched earlier this year and sold all 800 of their units. They
want more capital to build more units. So far, they sold $400,000 of
guitars, but are still in the red. The math suggests that the business
is worth $10 million. Kevin O sees greed... but there are three million
guitars sold in the US every year.
Robert suggests collecting royalties from
the hinge on the back of other guitar manufacturers. It's easier if he
can demonstrate market acceptance. But in the end, Robert suggest
selling him the patent. Jeff says 49% for $1 million. Kevin O counters
with $500,000 for 51% of the company that owns the patent. He has
experience in licensing. His whole company, sold for $3.2 BILLION, is in
Jeff doesn't want to give up 51%. Robert
pulls out. Kevin O says that he wants to protect Jeff from himself.
Harrington says go 25% to bring the TV to the table.
Barbara's too nervous to be in. Daymond
isn't sure of what Jeff wants out of this, leaving the two principles
and their deal, a combined 51% for $500,000.
Jeff Cohen... doesn't accept for more
than 50%. BIG MISTAKE. Kevin O says that there is no tomorrow. "You're
dead to me when you say no to my deal."
Robert? "I'll send you an invoice for my
That was painful to watch. He could've
made some money... instead, he's going to try and has something out on
his own, and with that, we put the Sharks back in their gilded cage for
To see this episode in its entirety, go to