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GSNN
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Previous Episodes January 8 January 15 January 29 |
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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
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Episode 2.4 We've been here before, but now it's time to close up the Shark Tank with a new lot of entrepreneurs and five Sharks ready to give up their money for the right idea. OWNER: Michele Sipolt Kaputska &
Melisa Moroko; Chicago The company really is a family affair, with the kids helping out after school. They are slammed with orders and need the Sharks' help. The product is a greeting card and envelope... in one neat ball package. The outsourced manufacturing can't keep up with what they're doing. They need to bring that in-house. Their total sales: $100,000 a year, $20 a ball. Kevin O's out. He doesn't want to be in the ball business. Kevin H and Daymond join him. There's nothing proprietary. Robert joins them. Barbara is the last hope. She's been changing her mind back and forth. She's out, saying that they don't need the Sharks. Balls. REVISIT: Life Belt Robert Allison turned down the largest offer in Shark Tank history: $1 million for the whole patent. Since then, Robert has been pitching the Lifebelt to various dealers, with one in Texas offering a multimillion-dollar-deal. OWNER: Mark Burginger; Bend, OR Mark, like many architects, has been brought up on building blocks. These blocks are bendable. With $60,000 in debt, he hopes that the Sharks can help move them. The Qubits have been on the market since November 2007, having only sold $8000. Robert's very suspicious of the 51% stake offering. Mark says he's smart and that he wants to put together the best board of directors possible. He does own the patent. The market is owned by Lego, the 80,000 pound gorilla in the room. And Mark hasn't approached a toy company for this venture. There are four companies. They need to be called up. Until that happens. , there's no room for investment. Kevin O and Robert are out. Kevin H and Barbara joins them, saying that he can't compete with the big boys. Daymond doesn't know the market that well... but he likes the fact that he came in with what he did and how he did it. Daymond can brand this crazy. He accepts contingent on calling the top 4 guys. ACCEPTED: Daymond's offer of $90,000 for 51%. OWNER: Nicole Jones; Chicago Nicole's products... Shoes. A lot of shoes. And not just shoes.. the entire home shopping shoe party experience... Pink carpet. Fondue. And of course... her friends Jimmy Choo and Manolo Blahnik. Yes, it's a Tupperware party for shoes. She has three channels: brick & mortar, parties, and the internet. She needs to use the latter two to maximize her return. Those two make $134,000 last year. Each licensee will pay $100,000 for a pink SUV, a pink laptop, and everything they need for a shoe soiree. Kevin H has a disconnect about that big of a sum. He's out. Daymond sees nothing for him. Robert says her concept is ludicrous. Barbara agrees. Both of them are out, saying that she's asking them too much. O'Leary says that she's 70% entrepreneur, 30% nut bar. No way he's giving her $150,000. OWNER: Phillip & Aida Lough; La Habra
Heights, CA Phillip & Aida raise llamas, a great deterrent from mountain lions, by which they were attacked once upon a time. The product is a liquid organic fertilizer for home and commercial use. The product is... llama poop. All the manufacturing is done in house... needless to say. The hook is not only that it works, but it is also a green company. They have $4000 in sales. Daymond says that you'd have to educate people turd by turd. He's out. O'Leary says that there is no investor that will give that much for processing poo. He and the other Kevin are out. Barbara says that the numbers don't add up. Robert... may buy a llama for himself, but he's not buying the business. OWNER: Alan Kaufman; parts unknown His product is a new umbrella design. Nubrella is impossible to invert, can warm up the user, and can be used hands-free. It's an alien helmet, basically. So far, Alan has sold 3000, not selling a dime for advertising. He just sourced a manufacturer, so he can sell this for $29. US patents are there, European patents pending. He's invested $900,000, but he's out of money. He's got orders for 47 countries. Barbara's out, saying that he needs a sports angle. Robert joins her. Kevin H likes the product, but he has a challenge with the money. He would rather give the money for 65%. O'Leary can't compete with that, so he's out. Back to Harrington's offer. Alan says that he can go as high as 35%. Daymond wants to get in with Kevin... for 60%. That's 30% a piece. Kevin H's TV power. Daymond's retail branding. Alan plays hardball, offering 50%. Daymond's about to make it rain on him. He wants the control because it's his money. He can finance everything forever. Alan can keep running the business... It's a tough decision... And... ACCEPTED: Daymond & Kevin H's $200,000 for 65%. And with that, the Shark Tank is closed... for real this time. To see this episode in its entirety, go to www.abc.com/primetime/sharktank. |
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