- A man from Florida reinvents the umbrella.
- Kevin O'Leary, Barbara Corcoran, Kevin Harrington, Daymond John, Robert Herjavec
Michelle Kapustka & Melisa Moroco, "Send A Ball" greeting balls sent in the mail; $86K for 20%. Business has been growing 100% year on year and the manufacturer cant keep up with volumes. So, want to use the money to develop a new production facility. $100K in sales each year. Sells for $20 and costs $5 to fulfill the order. Michelle pays her boys to help in her garage blowing up the balls with air. The small boys get $6 /hr and the big one gets $8 /hr. O'Leary thinks this is too small for being invest-able and is out. Harrington loves the story but is out since there is nothing proprietary about it. So is Daymond. Herjavec is too. Barbara is out since she doesn't want to dilute the work ladies have done so far.
Update on: Lifebelt (Episode 102). The guy rejected a $1 MM deal with Herjavec for 100% of his product patent. Now he has signed a deal with Gillman automotive to roll out his device in all cars sold via their dealerships. Projected sales of $10MM a year.
Mark Burginger, "Qubits" a bendable construction toy; Debt of $60K and inventory in the garage. $90K for 51%. Only sold $8000 worth of toys in last 12 months. Has invested $60K and has not approached a major toy manufacturer yet. O'Leary is out as he doesn't want to compete with the toy biggies. Herjavec is out since the toys are not selling. Harrington is out since he thinks Mark will never be able to create a brand without matching the spend of the big boys, so is Barbara. Daymond offers $90K for 51%, but contingent on working out a deal with one of the big 4 manufacturers. Mark accepts.
Nicole Jones, "Pillars of Slippers" an in-home shoe party franchise; pink carpet, chocolate, champagnes.. $150K for 15%. Has a retail store and has 3 channels of distribution. But wants to give up the store to focus on online and mobile (home party) sales. $17K in online sales & $64K in home party sales in last 12 months. Nicole wants to franchise the home party business, for which the franchisee will pay $100K upfront, for which they will get the SUV and all the branded materials for the home parties. All the sharks feel that the initial ask is just too high. For the store Nicole has put in $200K and for the home parties, around $60K. Harrington is out since he thinks Nicole can sell shoes and make money, but hasn't proven if she can get the franchisees to make money as well. Herjavec cant see her selling franchises for $100K when she only sold $64 K of shoes in a year & is out. Barbara is out as she cant handle Nicole's energy. O'Leary is out as he thinks Nicole is 30% crazy.
Aida Camwich-Lough & Phillip Lough, "Llama Brew" liquid llama fertilizer; $125K for 10%. Have sold $4K worth of product. They have a process patent for the liquefying poop pallets. Valuation is crap, all the sharks are out one by one.
Alan Kaufman, "Nubrella" a wearable umbrella; $200K for 25%. Nubrella is impossible to invert and can be used hands-free. Weighs 2.5 pounds. Has sold 3000 umbrellas. Sells for $49, but will reduce MRP to $29 due to a new manufacturer. Costs $14 to make. Has a patent in US and Eur. Has an investor for $400K and has himself put in $500K into the product so far. Barbara is out as the idea is too out there & so is Herjavec. Harrington offers $200K for 65%. O'Leary is out since he cant compete with Harrington's distribution channel. Alan counters Harrington with $200K for 35%. Daymond and Harrington team up (Retail and QVC) and offer $200K for 60%. Alan counters with 50%. Daymond & Harrington counter with 51% + PO financing for everything forever. Alan accepts.
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