ENTREPRENEUR: Mike Hartwick and Sarah Ponn
PITCH: Surfset Fitness
ASKING FOR: $150k for a 10% stake
Mike and Sarah’s company is surf-inspired exercise equipment and group fitness classes. They have created the world’s first total body surf trainer that’s designed to mimic the instability of a surfboard on water. Pro surfer Lakey Peterson demonstrates how it works. Then @Robert takes a turn on the board. They made $150,000 in four months running classes and the PR boom that followed was amazing. They’ve had 200 inquiries for franchising.
DO THE SHARKS BITE? @Mark believes this is a great idea. He believes they could hire pro surfers to be their certifiers and trainers. He offers them $300k for 33% of the company. Robert offers $100k for 20%. @Daymond offers $150k for a 25% stake and unlimited manufacturing of the boards. Kevin wants to jump in on Daymond’s deal, but Barbara says the best person to partner up with is Mark Cuban and she wants in on his deal. It’s a feeding frenzy!
THE RESULT Mark wants to go it alone, so Barbara is out. He gives a 24-second shot clock on his offer. Kevin and Daymond are teamed up and Robert is still in solo. Mark drops his equity down to 30% and that’s enough for Mike and Sarah to take the deal. Surf’s up!
WANT TO KNOW MORE: Visit http://www.surfsetfitness.com/
Update: Element Bars
Jonathan Miller initially turned down all deals for his custom energy bars before finally reaching an agreement with Kevin Harrington. Business has boomed since his appearance in the tank. He went from working out of a small wedding cake bakery to his own facility. By the end of the year, they expect to have sold one million bars. They’ve also launched a new product line called Element Cereal. Got milk?
ENTREPRENEUR: Aaron Marino
PITCH: ”Alpha M” Consulting
ASKING FOR: $50k for a 10% stake
Aaron believes men are motivated by two things: money and sex. His company helps them get more of both. He’s developed a six-disc DVD series that helps a man analyze and build the perfect basic wardrobe. Kevin steps into the center of the tank so Aaron can give him some manscaping tips. He’s just launched the product and has sold 75 units in four weeks.
DO THE SHARKS BITE? Daymond believes that Aaron wants him to work for the company. He’s out. @Kevin thinks this is an interesting business, but he’s not sure how he can leverage things to his advantage. @Barbara thinks the $297 price tag on the DVD set is too high. She’s out. Robert follows her lead. Mark enjoys looking like a slob, so this isn’t the right fit for him. He’s out. They say every girl’s crazy about a sharp-dressed man. Too bad no sharks are.
WANT TO KNOW MORE: Visit http://www.aaronmarino.com
ENTREPRENEUR: Abby Jordan and Becky App
ASKING FOR: $250k for a 33% stake
Abby and Becky offer a service where you can design your own flavors of ice cream on their website. You can even name it. The personalized flavors can then be delivered to someone’s front door. They provide shark-inspired samples such as Robert’s InvestMint Mix, Barbara’s Delicious Dividends, Mr. Wonderful’s Shark Bait, Daymond’s Fashionable Flavor Factory and The Cubanero. The ice cream is very creamy and tasty. They have $2 million dollars in sales since inception in 2007. They are on track for $750k in sales this year for a 60k profit.
DO THE SHARKS BITE? Robert loves the idea of selling the rather pricey product as a lifestyle experience as opposed to just pints of ice cream. What the sharks aren’t crazy about is that the ladies have an investor who owns 70% of the company after putting in $600k. Still, Kevin is intrigued. He’ll give a partial offer of $125k for 25%. He’s looking for a partner. That’s not going to be Daymond. He’s out. Robert and Barbara follow his lead. Mark fears the ladies will be imitated by people looking to make a profit by delivering the product locally for less money. He’s out. Without a partner, Kevin has no choice but to bail on what Abby and Becky describe as a very “sweet deal.”
WANT TO KNOW MORE: Visit http://www.eCreamery.com/
ENTREPRENEUR: Neal Desai
PITCH: CATE APP
ASKING FOR: $50k for a 5% stake
Neal shows a video reenactment of a woman who believes her significant other is cheating on her after intercepting a text message. It’s a scene filled with melodrama and face slaps. Neal has created a Smartphone app that will help keep your indiscretions discreet. It hides a list of contacts that you never want seen in public. The app intercepts sensitive calls or texts and stores them for you. The screen will never indicate who called. Neal says that if Tiger had this app, he might still be married. Neal didn’t develop it, but he does now have full ownership of it with his sister. They have about 5,500 paid customers.
DO THE SHARKS BITE? Robert thinks this is a cheater’s app and wonders about the morality of the product. Kevin isn’t worried about that at all. He offers $50k for 50% of the company. Mark, on the other hand, doesn’t like the app. He’s out. Robert feels the same way. He’s out, too. Daymond offers to partner with Kevin. Barbara feels this product has a future as a privacy app. She offers $50k for 30% provided Neal is open to repositioning the product as a privacy app as opposed to a cheater’s app.
THE RESULT: Neal counters by offering 15% across the board. Kevin and Daymond drop their offer to 35%. This has Barbara dropping to 25%. Neal then asks Kevin and Daymond for $75k. They end up striking a deal at $70k for a cheater’s app that will hopefully prosper.
WANT TO KNOW MORE: Visit http://www.cateapp.com/
Follow @tvfishbowl for your Television, Movie, Celebrity, Pop Culture, and Gossip scoop— TVFishBowl (@TVFishBowl) April 9, 2013