- An artistic man hopes the sharks are interested in his cat drawing service.
- Sharks attending the pitch are Mark, Daymond, Kevin, Barbara and Robert
"I Want To Draw A Cat For You" is an online service founded by Steve Gadlin. The ask is $10,000 for 25%. It offers custom cat drawings delivered to customers for $9.95 each. People can order from his website. Steve positioned it as a fun novelty item, popular as a gag gift. The business can churn out 1000 drawings in a week and has sold 1200 drawings in the past year. Steve positions it as a stake in the cat business and a partnership with him and all the creative ideas he will come up with in the future. Kevin & Robert are out as its too small. Mark offers $25K for 33%. Steve takes the deal.
"Salespreneur" is a company started by Dave Greco, which teaches ordinary individuals how to become successful sales representatives. Dave sought a $90,000 investment for 40% equity. The company has achieved $40,000 in sales over the last three months, catering to five organizations with 10-20 people in each physical course. Dave claims 40% increase in sales after going through his course. Metlife bought 140 books at $295 a piece. Dave wants to do a mobile app version of his material. Robert challenges him as to why he didn't sell more at Metlife as Metlife has more than 100,000 sales reps. Daymond wants Dave to sell him a pen. He hates the pitch and is out. Robert doesn't buy in the vision of a mobile app. He believes that the product is Dave itself. Robert is out & so it Kevin. Mark offers $90,000 for 40%. Dave asks Barbara and she is out. Mark backs out now because Dave didn't close the deal when he had the chance.
"Vegas Magic Show" is an ambitious magic act presented by Rick Smith Jr., a professional magician from Cleveland, Ohio. Rick sought a $1.5 million investment for a 20% stake. His vision is to create an extravagant show on the Vegas strip featuring music, dance, and other entertainers. Has a Guinness record for throwing a playing card over the longest distance. Projects to gross $12 million in the first year. each show to have 400-600 seats with average ticket price of $60. 2 shows a day, 7 days a week. Made $200,000 last year as a travelling magician. Mark suggests that Rick start in a smaller town and build a brand before going Vegas. Daymond is the first out and he cant see Rick getting anywhere near Vegas. Kevin & Mark are also out. Then Robert and Barbara go out.
"Invis-A-Rack" is a collapsible cargo rack designed for pick-up truck beds. Donnie sought a $100,000 investment for a 10% stake in the business. The product can hold up to 1500 pounds and fits on 90% of trucks in the US. Donnie is committed to keeping production in the USA, despite facing challenges in selling the product at a competitive price point. Sold 150 units for $50,000 in last 12 months. Costs $250 to make. Doesnt want to go the distribution route as they offer 300-325$ per unit, which is too low. He doesn't want to manufacture in China as that would take jobs away from the USA. $75,000 of debt on the company. The group tries to convince Donnie to manufacture offshore, as if the business is successful he would be able to employ more people in the USA. Barbara and Kevin are out as Donnie is not willing to do what it takes to make the economics work. Robert tells a tearful tale of how his father was ridiculed and insulted in the factories of America (he was a migrant from Croatia), where he swept floors. He is out since Donnie wont do what it takes to make the business work. Mark is out as he thinks it will take more than $100,000 to fix Donnie's issues.
Update on "CitiKitty" (Episode 209): Rebecca secured a deal with Kevin Harrington and saw significant growth in her business. With the launch in Walgreens and an infomercial, CitiKitty's sales increased from $100,000 a year to an impressive $1 million a year.
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