|
|
GSNN
Primes |
|
Previous Episodes August 9 August 16 August 23 August 30 September 6 |
||||||||||||||||||
|
You have the dream. They have the money. But do you have what it takes to swim with five of the business world's elite sharks? Recaps by Chico Alexander, GSNN
|
||||||||||||||||||
|
Copyright Statement Powered by 1&1 Internet |
|
Episode 6 Another day in the Shark Tank, and another five hopeful entrepreneurs want to take the Sharks for a swim. OWNER: Jonathan Miller; Chicago Jonathan and his wife make custom energy bars. He got the idea from seeing all the unpronounceable ingredients on OTC energy bars. He's grown his operations, and he's hoping to take his project to the next level. Users visit his website and they create everything from the ingredients to the labeling. to demonstrate, Jonathan's done his homework on the Sharks and made his own bars for each one. Barbara's "Sweet and Smart Bar" was chewy. Is the company valued at a million? They sold 30,000 to date. They doubled their sales and gross $12,000, $50,000 so far. Kevin O says that the value is insane. It's not a million dollar business. Robert asks: what's more important, the idea or the execution? They all agree that it's execution, but they don't believe it's worth a million. He's invested in $50,000 himself. He wants more than 100% of that, but he's willing to prove himself. Kevin O is struggling... but he's out. Barbara doesn't believe that the market is there, and if it is there, someone's going to knock it off. Daymond wants 75% of the business. Kevin H offers the money and a 4% royalty in perpetuity for everything. Daymond's offer would limit future growth, so he declines. Robert is out as he would not accept anything more than 50%. Jonathan turns down Kevin H's offer... Kevin H counters with this: 35% for $150,000 and 4% royalty. Jonathan wants to talk him down to 25%. Kevin H makes a final offer split down the middle... ACCEPTED: Kevin H offer of $150,000 and 4% royalty for 30%. REVISIT: Mr. Tod's Pie Factory. Mr. Tod's business is booming. Within five minutes on QVC, he's sold out of pies, and he's on course to make millions this year. OWNER: David Chodosh; Manhattan Beach,
CA David invents toys and games, and he's very passionate about his product, investing $50,000 in his product. He discovered the root beer float and decided to reawaken the sleeping giant by making a preloaded ice-cream product that fizzes upon the addition of soda. It's fun. Last year's sales are $84,000 from vendors and ice-cream stores. Coca-Cola wanted to order some for a giveaway, but they're not in the ice-cream business. He's not the ice-cream guy or a soda guy, so Kevin H, Daymond, and Barbara are out. There's only one real option: sell it to the ice-cream guy and have them license the idea. The two dragons-turned-sharks are also out. OWNER: Buck & Arlene Weimer Arlene has Crohn's disease, which leads her to episodes of gas. Buck decided to devise airtight filtered pants to alleviate the problem (and perhaps save their marriage). Last year, they sold 37,000. The year before, over 67,000. One pair costs $24.95. Robert's out. The market's small. Daymond agrees. Kevin H agrees. Barbara would feel "medical" in those, so she's out. Kevin O's indifferent, so he's out. OWNER: Kimberly Kayce; Venice, CA Kimberly's business was created by women for women, but for what? She's been a professional golfer, but had since retired, gotten divorced, and beta-tested a product. She's invested her life savings on this product, and she's running on fumes. Her product: a Kalyx sports bra with a specially designed underwire designed to alleviate breast pain by working with activities and body types. There is a wait-list of over 250 women to buy this product. There are five leaders in this market, and 250 women are somewhat disenfranchised by them. How will she compete with that market share? She also has no patent on file. The money would be used to manufacturing. Kevin H sees tremendous competition. He's out, as is Robert. Barbara probably would have to wait until year 5 to get a return on her investment. She's out. Daymond's also out. She's too early. Kevin O says that she's nothing. And $125,000 isn't going to get her anywhere. He thinks that she knows that this is a losing gamble. The Sharks are all out. "It's the beginning of something else... and the end of this." Finally... OWNER: Heath Hall & Brett Thompson;
Washington, DC They're taking pork-barrel spending to a new level with this product. Two self-described conservatives - Heath works for a think-tank and Brett is a lobbyist - believe in an age where everything is being bailed out that they can still use the power of the American Dream to win over a market. They call their inaugural product, a spice rub, a "bipartisan blend of herbs and spices". Daymond says that they're valuing their product at half-a-million. They have 10,000 units in production heading to stores this month. They have a 50% profit to produce, and based on their estimates, they're looking at over a million in profit in a year. Robert says that it's all about marketing, and they're too little to market. He and Kevin H are out. Daymond's out. Too crowded. Kevin O says that they're not full time. They say that this is about making money for their families. But it's too embryonic for Kevin O. He's out. Barbara says she's interested, but the money's crazy. They're prepared to invest another $100,000. Barbara makes an offer of $50,000 for 50%. Heath & Brett ask for 40% and a pig costume. Barbara doesn't budge. Heath & Brett... do. Typical Washington politicians buckling under a buck. But that's neither here or there. ACCEPTED: Barbara's offer of $50,000 for 50%. Remember, folks... Shark Tank moves to its new night and time starting September 29 at 8/7c. Until then, the Shark Tank... is... closed. To see this episode in its entirety, go to www.abc.com/primetime/sharktank. |
|