ENTREPRENEUR: Jackie Courtney
PITCH: NEARLY NEWLYWED
ASKING FOR: $35k for a 10% stake
Jackie created an online boutique that offers a new way for women to shop for their wedding dress. The site offers wedding dresses for a lot less than the retail price. You can also sell it back to them after the wedding for half of what you paid. Brides can have an $11,000 dress for just under $2,000. They just launched their business, but the growth has been promising. Unlike a rental gown, you can alter these dresses if need be. They get all of their dresses on consignment.
DO THE SHARKS BITE? Barbara thinks that it’s too early in the business to invest. She’s out. Robert believes that the only time a woman is going to buy a used wedding dress is if she’s divorced. He doesn’t believe in this market. He’s out. Daymond loves the space of this business, as he knows it’s the only time a female has no rationale, but Jackie’s business doesn’t fit his own model. Mark likes the idea, but he feels Jackie’s tastes are too specific. He’s out. Kevin likes Jackie. He offers her $35k for 40% of the company. He’s willing to take a chance on her because he loves love.
THE RESULT: Jackie asks Kevin if he’s willing to come down just a bit. Mr. Wonderful says, “No chance.” He was actually going to ask for 51%, but he’s not that kind of guy. Jackie considers the lone offer on the table and then respectfully declines it. Looks like Kevin has been left at the altar.
WANT TO KNOW MORE: Visit http://www.nearlynewlywed.com
Update: ALDO ORTA
Entrepreneur Aldo Orta made a deal with Barbara and Kevin H for his designer jewelry collection. Since his appearance in the tank, Aldo has been able to show his collection on QVC. His sales have increased 70%. He was even commissioned to design a jewelry piece for the Queen. Thanks to Shark Tank, Aldo feels he is living the American Dream.
ENTREPRENEUR: Shane Cianciolo & Nathan Buffett
PITCH: CORKS AWAY
ASKING FOR: $105k for a 20% stake
People come from all over the world to experience an amazing wine adventure on the high seas. A Coast Guard captain greets guests as they board The Sunflower, a luxurious wine vessel. A wine host serves and explains selections during various cruises with atmospheres that are catered to their customers. Shane and Nathan are looking to expand on their sales of $250k from last year. They’ll sell a $35k boat to another skipper for $175k with their business plan. They also want to sell their tasty pesto torte to stores. They also want create an indoor boat experience somewhere down the road.
DO THE SHARKS BITE? Mark believes the boat factor limits them in regards to the number of places they can go with their business. He can’t see getting a significant return on an investment. He’s out. Robert likes the guys, but feels there are holes in the boat. He’s out. Daymond follows suit. Kevin likes the wine, but doesn’t feel the business is investible—at least until he drinks more wine. Barbara likes the fellows, likes the wine, but doesn’t like the business. She’s out. Shane and Nathan sail off into the sunset without a deal.
WANT TO KNOW MORE: Visit http://www.corksaway.com
ENTREPRENEUR: David Powers & Scott Tindel
PITCH: TIE TRY
ASKING FOR: $100k for a 25% stake
The business is essentially Netflix for neckties. David and Scott are attorneys who were always wearing the same tie over and over. They launched a service that delivers an unlimited number of neckties to a subscriber’s doorstep for a low monthly price. Their customers can wear hundreds of different neckties. They have over 100 subscribers as part of their proof of concept plan.
DO THE SHARKS BITE? Mark doesn’t believe these guys can sustain the business with the free press they’ve been using. He’s also worried about the number of people who will cancel their subscription. Robert agrees that they don’t have enough of a subscriber base yet. He’s out. Kevin offers to put up $50k if they can convince another shark to come onboard. That second shark will also set the equity amount. That second shark won’t be Barbara or Daymond, as they are both out. Now there’s just one shark left and he never wears a tie. Mark believes the guys are guessing as to how the business will work. He’s out. That means Kevin is, too. The tie guys will have to TieTry to find someone to help them tie up a deal.
WANT TO KNOW MORE: Visit http://www.tietry.com
ENTREPRENEUR: Rob Dyer
PITCH: RUCKPACK COMBAT NUTRUTION
ASKING FOR: $75k for a 10% stake
Rob is a Major in the Marine Corps. He was inspired to create his product while he was deployed in Afghanistan. Ruckpack is the world’s first peak performance nutrition shot. It was designed and tested by Special Ops forces. It’s caffeine-free which is important for those in combat. He needs capital for inventory and to work down the cost of creating the product. Rob is an accounting professor now, but he was Special Forces. He has partners that come from military-based families. He’s put up a lot of money for prepaid inventory.
DO THE SHARKS BITE? Robert feels the business isn’t doing well enough to generate enough cash to buy inventory. Daymond goes out right away, as he’s invested in similar products that would compete against this. Barbara is in love with this guy, but she’s troubled by the large sums of money he’s putting into the company. She’s out. Mark, too. Kevin likes the product a lot. He’ll give Rob exactly what he wants.
THE RESULT: Robert still feels Rob needs more cash. He wants to partner with Kevin to give him $150k for a 20% stake. It’s double the cash Rob was asking for. Rob appreciates the offer and accepts it. It looks like this Marine’s mission is a success.
WANT TO KNOW MORE: Visit https://ruckpacks.com/
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