- A urologist has an unusual business proposal.
- Kevin O'Leary, Barbara Corcoran, Kevin Harrington, Daymon John, Robert Herjavec
Jeff Wolsky, "The Bobble Place" a custom bobble head doll company; $75 K for 18%. He wants to bring this in kiosk format to shopping malls and fairs to increase sales. Jeff has an online business with sales in excess of $ 1MM per year, but is not offering that business for the sharks. A kiosk costs $1500 a month, and footfall is uncertain. The existing business makes $ 600 K in profits every year. O'Leary is livid that Jeff is not offering the online business. Jeff is open to sharing 5% equity in the online business if sharks make a deal on the kiosk business. Harrington and Daymon think Jeff is asking for too much money to test a concept and are out. Barbara felt she was tricked when she found that the internet business is not included and is out. O'Leary offers $100K for 20% and Herjavec offers $125K for 20%. Jeff wants $225 K for 20% to bring them together. O'Leary asks Herjavec to stick to $100K for 20% and split 50-50. Jeff rejects and Herjavec counters $125K for 20% on his own. Jeff counters at $100K at 7%. Herjavec is out as well.
Update on: Pork Barrel BBQ (Episode 106). The guys have gotten into Costo, have a restaurant and a campaign bus.
Sandy Hyun & Roman Pieters, "Mr. Poncho" a poncho for mobile devices to avoid tangled headphones; $50K for 25%. in 2 yrs, 1st yr $11000 sales and 2nd yr $35,000 sales. Sells for $18. Herjavec feels its not very different to wrapping the cord around the phone itself. $3 landed cost, but they are making it themselves. Sandy reckons that it would cost under $1 to manufacture this in a factory, but is not sure. Herjavec feels that the spool should be tacked onto any mobile skin, as skins are important to people. But Sandy tells that the patent to the spool is owned by someone else. Barbara is out for that reason. Herjavec & Daymon is out since the business is small and not invest-able. O'Leary is out. Harrington thinks this is a small home business.
Dr Floyd Seskin, "Uroclub" a urologist who created a solution to bladder problems on a golf course; $25K for 51%. Priced at $24.95. Harrington thinks this is a gag gift, Floyd wants the sharks to take over and control marketing, manufacturing and distribution for his product. $8.43 cost. Sold about 3000 units ($70,000) till date. Invested over $300,000 of own money into this. Has 12000 units of inventory. Daymon and Barbara are out as they cant help market it. Herjavec cant relate to the product and is out. O'Leary is out as well. Harrington offers $25K for 70%. Dr Floyd takes it.
Brian Duggan & Adam McCombs, "Jump Forward" a technological solution for sports recruiting from high school to college; $150K for 10%. Basically an online database of high school going students allowing college coaches to pick the best. 30 colleges enrolled, subscription based model. Thousand of high school going students in the database. Jump forward is differentiated from the competition as it proactively controls campaign violations (unsolicited contacts from Coaches to High school going students or their parents). Barbara is out as she feels tech businesses always overspend their stated budget. Harrington is out as he also thinks this will be a cash hungry business as the guys scale up their platform. Daymon is out as he cant understand the business. O'Leary offers $200K for 20%. Herjavec offers $300K for 35%. They collude to offer $400K for 50%. Brian counters with $200K for 16%. Herjavec offers $500K for 50%. Ups it to $600K. Brian counters that Herjavec & O'Leary team up to offer $750K for 50%. Other option is $300K for 25%. Herjavec sticks to $600K for 50%. Brian and Adam take it because of Herjavec's track record with internet firms.
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