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GSNN
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Previous Episodes January 8 January 15 |
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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 2.3 Dreams... You have them. Five venture capitalists want to fund them. But you're going to have to prove to them that you are worth their time AND money. Time to reopen the Tank... OWNER: Jill Quillin; Knoxville, TN Jill's product "enhances" a product that most women love and use every day. Not only is it unique and useful, it also helps women save lots of money. But the biggest hurdle is that it's a female-targeted product in a world where the men with the money just don't get it. The secret weapon is the mold that creates a new tube of lipstick out of the third that is usually trapped inside the old tubes. She demos the product, which involves scraping out the used lipstick, putting it in the microwave for 45 seconds, pouring the molten wax into the mold, sticking the mold into a new tube, and presto... new lipstick. Barbara thinks that it's clever, saying that nothing is more exciting than a new lipstick. Jill has sold over $6000. The kit is $19.95. Robert says that this can only be sold through Harrington's format. He's out because he can't help out. Jill has a model to work on, starting small and going through the channels to market it to stores. O'Leary's out... but with huge reservations. Barbara can give half the cash. Daymond will give the entire asking price for 40 percent. Kevin H... joins Barbara's half of the offer, but it's for 40 percent. Daymond suggests joining up with Harrington... and screw Barbara's half. Daymond has retail. Kevin has direct. Barbara... has nothing. Kevin suggests a three-way deal... but Barbara says three's a crowd. Jill needs to call her husband while the Sharks turn on each other.... then swim with each other. BUT the deal is now $105,000 for 50 percent. "That's the fastest ten percent I've ever lost." After hemming and hawing... ACCEPTED: Kevin H, Daymond & Barbara's deal of $105,000 for 50% Dream team, baby. Dream team, baby. REVISIT: Treasure Chest Pets Daymond and Barbara struck a deal with Lisa Lloyd for $150,000. Sales are up 1000%, and Daymond has organized a deal to get the toys into Buy Buy Baby and Bed Bath & Beyond stores. OWNER: Tim Gavern; parts unknown Tim wants to bring happiness to kids everywhere as ... Captain Ice Cream! He's not just an ice-cream man. He's an ice-cream man on a moped. He's looking to franchise the business across the US. Tim owns the trademark to Captain Ice Cream, and he serves his product to the panel. He sells $200 worth in four hours. A day. It's easy to make $25 an hour, but Tim's barely making a living. What he's selling is a concept. The Sharks don't know where the investment is. Daymond is out. The business is too small. O'Leary says that the concept is not unique or valuable. Robert says that the business model is not there. He's out. Harrington goes that same way. Barbara says that she'd buy ice cream from him, but she's out as well. The Sharks will send your moped back.... LATER. OWNER: Michael Schiavone; parts
unknown The indicator changes color in the presence of caffeine. If it's caffeinated, the Caffeindicator turns pink. The idea is to put these on sugar packets. Manufacturing and distribution is in place, all we're looking for is market share. The Sharks want a number... Michael doesn't have it. If someone doesn't buy it, there's no market. Michael's basically trying to create a bidding war. Barbara says that the consumer isn't too paranoid and that the packet guys don't really have an easy inroad to this product. Barbara is out, as is Daymond. Robert will give him the money for 60 percent, contingent on an offer from one of the companies. Harrington has a better offer... same contingency for 50 percent. And O'Leary's too slow. ACCEPTED: Kevin H's deal for $200,000 for 50% OWNER: Jeff & Annie Hughes; parts
unknown Jeff's a law school graduate who opened up a coffeehouse... that doubled as a legal resource center for the unmet needs for the middle class. They're looking to franchise this location. They're grossing $200,000 a year, grossing $20,000 to $30,000 a year. They take $50,000 off the top for themselves already. And I'm corrected... Coffee has nothing to do with this. Maybe. O'Leary brings up a sticky point: it's a lot cheaper to upkeep an internet site that does the same thing. Jeff & Annie show a list of franchisee requests. And all the while, Jeff & Annie don't have a plan. They make no money, and they've had a little too much coffee. Daymond's out, because he's afraid of getting into a business with a bunch of lawyers. Kevin H and Barbara follow suit, saying that they don't really have the franchise machine down. The rest of the Sharks are out, as the only thing they saw was "bad theatre". And they didn't even get a coffee. To see this episode in its entirety, go to www.abc.com/primetime/sharktank. |
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