ENTREPRENEUR: Aly Lessor
PITCH: Cozy Bug
ASKING FOR: $50k for a 25% stake
Aly created a children’s clothing line that was inspired by her daughter. Her pillowcase dresses grow with kids thanks to the way that they are designed. The dresses are tied with ribbons that allow for growth. Eventually the kids will sprout so high that the dress becomes more like a top to be worn with shorts or leggings. She also sells matching hair bows. She wants the sharks to help her pillowcase the world. It costs her $6 to make a dress. In just 30 days, they sold over $300k worth of dresses online. Aly also has a dancewear line called “Dance Bug.”
DO THE SHARKS BITE? The sharks have various opinions on how Aly should grow her business. Mark thinks she’s going too wide with her product, so he’s out. Robert can’t really offer her any expertise, so he’s out, too. Kevin offers Aly $50k for 0% equity, but wants $2 per dress up to $50k and then $1 per dress in perpetuity. He also wants her to make hair bows and pillowcase dresses only. Lori offers the $50k for a 30% stake in the company and the hope to make her a millionaire with this line. Daymond matches Lori’s offer and promises his expertise is more valuable. Aly needs to make a decision.
THE RESULT Aly weighs her options and questions the sharks about what they would do with her product. Lori writes a check for Aly right there in the tank. She also threatens to take away her offer. This has Aly swimming in Daymond’s direction to make a deal with him. Together they are off to pillowcase the world!
WANT TO KNOW MORE: Visit http://www.cozybugusa.com/
Brothers David and Stu turned down an offer from Kevin O’Leary because he wanted 51% of their company which brings games and entertainment to children’s parties and events. Still, their appearance in the tank gave them great exposure. They were bombarded with calls and emails from international investors. They are now in seven different countries. They went from of $4 million a year to $9 million annually. They are on their way to $20 million. Let the games begin!
ENTREPRENEUR: Roger Sullivan
PITCH: Wired Waffles
ASKING FOR: $75k for a 25% stake
Roger has taken an energy drink and put it into the form of a waffle. He gives some samples to the sharks. The product has a 30-day shelf life. It has the caffeine equivalent of a 20-ounce cup of coffee. Roger officially launched the product about a month ago. He has about $1,000 in sales. He has a deal brewing with a distributor on Texas that could be worth $100,000.
DO THE SHARKS BITE? Kevin worries that there’s nothing proprietary about the product. Robert is sick of hearing this speech from Mr. Wonderful. Lori worries about kids getting hold of a product with so much caffeine. She’s out. Daymond thinks the process of making an energy shot into a meal is too cumbersome. He’s out. Robert likes the idea of creating a new category in this caffeine energy product, but he doesn’t want it to be on waffles. Mark thinks it’s actually a good idea, but he just didn’t like the product. He’s out. Kevin doesn’t believe the product tastes all that good so, without any further waffling, he goes out as well.
WANT TO KNOW MORE: Visit http://www.wiredwaffles.com
ENTREPRENEUR: Cheryl Rigdon
PITCH: The Spatty
ASKING FOR: $50k for a 40% stake
The Spatty and the Spatty Daddy (a name that totally cracks the sharks and me up), are money-saving tools that help the consumer get every last drop of products that come in bottles or containers. They are small enough to get into any opening and scoop out things from the bottom that would have gone to waste otherwise. She has the prototypes and wants the money to start manufacturing the product.
DO THE SHARKS BITE? The sharks believe that people would buy this product because they want to get every last drop of expensive products. Kevin is intrigued by the product, but doesn’t feel Cheryl has a plan to get it into a hundred million households. He’s out. Mark doesn’t have the time to help her formulate an entire company, so he’s out. Robert thinks this product could be great or it could be dead. The doubts he has about the business force him to go out. Daymond follows his lead. That leaves Lori, who loves Cheryl. Unfortunately, she thinks it’s a better idea to find someone to help her distribute this as a promotional item. She’s out, but all hope is not lost for Cheryl. Daymond offers to give her the number of two big makeup companies so she can contact them on her own. Keep an eye out for that Spatty Daddy!
WANT TO KNOW MORE: Visit http://www.thespatty.com/
ENTREPRENEUR: Brandon & Keith Marz
PITCH: Marz Sprays
ASKING FOR: $200k for a 10% stake
This father and son team has developed a full line of oral sprays for health and wellness for folks who don’t like to swallow pills. For example, “C Spray” gives you a mega dose of Vitamin C. They have sprays for kids, people looking to lose weight, gain sleep and those looking for energy thanks to mega dose of Vitamin B-12. The men show the sharks their infomercial which is fairly impressive. Nature Made is interested in doing a licensing agreement in this product. They also have five pending purchase orders for over a million dollars.
DO THE SHARKS BITE? Mark thinks this pitch is a scam, but he may just be irritable after getting hopped up on B-12. Brandon says they aren’t hustlers, they have “first mover” advantage. Daymond thinks it’ll take too long to clear this product in foreign countries. He’s out. Robert isn’t a big supplement guy. He finds the whole thing hard to swallow. He’s out. Mark is, too. Lori likes what these guys are doing. She offers them $200k for 30% stake contingent on a deal being made with Nature Made. Kevin wants to partner with Lori, but she’d rather go it alone. This has Kevin offering $200k for 25%. Lori then matches Kevin’s offer.
THE RESULT Brandon counters Lori’s offer with a redemption option for them. At the end of all the negotiations, the guys end up taking Lori’s final offer with a buyback option to get back half the stock at four times her initial investment. This gives them a very natural boost of energy, not to mention a boost of cash. The sharks believe Lori just got out-sharked, but she believes it was the right decision.
WANT TO KNOW MORE: Visit http://www.MarzSprays.com
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