Five well-stacked sharks are the only thing separating four budding
entrepreneurs from their dreams.
OWNER: Leslie Haywood; Charleston, SC
PRODUCT: Grill Charms
OFFER: $50K for a 25% stake
She's created a product that loves
grilling, and she says that it's the solution to every grillmaster's
problem. She's actually tried out for "Shark Tank" before, but got a
call from her mother about the sudden passing of her father. The last
thing he said was that he didn't want to be the reason she missed out on
this. But now that she's been given a second chance, she's going to take
full advantage of it.
The product itself is a stainless steel "charm"
that you put on your food before you grill it. That's really it. She sells them
in 103 retail stores in the US, Canada, and Sweden. So far, she's done $60,000 a
year. Six charms retail for $19.95. She's going to use the $50,000 to amp up her
pub at trade shows or direct to TV marketing, and Kevin H's ears perk up.
Kevin O would give $50,000 for 50% of the product with a 7% royalty. Kevin H,
saying that the product IS a business and bringing his expertise in the mix,
would give the money for 50%. Robert wants in on that deal. Daymond sides with
Kevin H... Barbara's the only one out. Robert says that he'll give what Leslie's
asking after withdrawing from the Sharks. Leslie doesn't like royalties. So
which of three deals will Leslie take? After she steps outside for a bit... she
tries to counter. No dice. Kevin O decides to give the money for 20% with a 7%
ACCEPTED: Robert's offer of $50,000 for 25%
And she was gunning for Kevin H, too. What a
REVISIT: A Perfect Pear
After going into the Shark Tank, sales
skyrocketed. The Sharks even managed to get her on HSN. Sales are ten times what
they were before her episode.
OWNER: David Adamovich & Todd Robbins,
New York City
OFFER: $300K for a 20% stake
They're magicians and sideshow
performers. David specializes in knife throwing. And he goes to work on
They want to start up a live entertainment
complex in Times Square called "The Funhouse" that has vaudeville, side shows,
the like. It'll cost $15 to get in, and it may gross $9.4 million in the first
year. With an annual expense of $7.4 million, they HOPE for a $2 million profit.
Will this really happen? Not with the Kevins. They're out. Robert and Barbara
are also out, having done the math and calculated the huge risk involved.
Will the victim bail the guys out? "There's an
old saying... The higher a monkey climbs a tree, the more you see his ass. I'm
The good news is that O'Leary knows how to throw
OWNER: Kathy Lamm & Dede
Barbanti-Parra; Ladera Ranch, CA
PRODUCT: Boogie Box Fitness
OFFER: $700K for a 70% stake
Dede weighed 200 pounds and separated
from her husband. At that time, she used her martial arts and dance
training to form Boogie Box. Kathy was introduced as a mutual
acquaintance, and she wants to get it out to the rest of the world.
They start with a little demonstration. They want
to launch a home DVD line. There is another part of the business that certifies
instructors. They grew that business, but they're only selling the DVD line.
Year to date, the entire business is $15,000.
One of the demonstrators, Brenda, lost 100 pounds
on the program.
Sales have been estimated to sell 1 million units
over three years. That's a little less conservative than Daymond would like, so
he's out. Robert has no way of knowing if this will work, so he's out. Kevin O
feels the same way, so he's out. Kevin H doesn't see a brand. Barbara likes the
brand name and that they're 100% genuine.... But they asked for too much money,
which proved to be fatal. All of the Sharks are out. But they will be successful
if they start small.
OWNER: Sawyer Sparks; Bloomfield, IN
OFFER: $125K for a 25% stake
One of his favorite college professors
mentioned that her child had celiac disease, which means that they're
allergic to wheat. That means taht they can't play with Play-Doh,
because they use wheat ingredients. Enter... Soy-yer-Dough, a soy-based
gluten-free modeling compound. He wants to use this product to help his
community and create jobs there. He's sold 11,000 containers since he
began in February, and there is a patent for it. There's also interest
in it... the largest player in the space wanted in on this. The highest
offer he got for it.. $500,000.
Kevin O sees this as a great licensing
opportunity. He wants 51% of the patent to take Sawyer out of the equation. AND
he doesn't have to close until the deal is done. Daymond considers this a "YOLO"
moment: "You only live once." The other Sharks step out of the way so Kevin O
can clear this deal. Sawyer counters with the money for 40%. Kevin O says he
needs the ability to close. Robert: "It's a great speech, and you know what? I
almost believed it for a second." Robert wants in for 40%, leaving the decision
in Robert's hands to try and negotiate with Play-Doh.
Daymond... comes back in with Robert, all three
joining for $300,000 for 51%. "We're gonna make a lot of dough with this dough."
ACCEPTED: Daymond, Kevin O & Robert's offer of
$300,000 for 51%
And this will do it for the tank this week.
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