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
PRODUCT: Lipstix Remix
OFFER: $105K for a 30% stake
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
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
PRODUCT: Captain Ice Cream
OFFER: $48K for a 25% stake
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....
OWNER: Michael Schiavone; parts
OFFER: $200K for a 25% stake
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
OWNER: Jeff & Annie Hughes; parts
PRODUCT: Legal Grind
OFFER: $200K for a 15% stake
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.
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