- The sharks hear pitches for a flavored mix-and-match lip balm.
- In the Shark Tank episode, several entrepreneurs presented their business ideas to the sharks including Mark, Daymond, Kevin, Barbara and Robert
"Kisstixx" - Dallas Robinson and Mike Buonomo pitched flavored mix-and-match lip balms. They asked for $200,000 for 20% equity. They make Barbara and Kevin kiss each other on live TV. Their sales in the last 12 months were $80,000. They had a big order from Walgreens for $540,000, with a profit of $337,000. 1 pack costs $.86 to $1, wholesales for $3 and retails for $6. Have new product ideas with mist and gum. Barbara & Kevin are out because of the valuation. The founders would use the money for order fulfillment and marketing. Mark offers $200,000 for 40% and order financing in the future. Daymond & Robert are out. The guys accept.
"The Smart Baker" - Stephanie and Daniel Rensing presented their line of home baking products. They asked for $75,000 for 25% equity. They had sales of $75,000 in the last 12 months, with $34,000 in the last 3 months, and projected $140,000 for the current year, with profits of $100,000. The cupcake tower is the bestseller, $40K in sales and retails for $60. Mark, Kevin, and Robert opted out for various reasons. Daymond offered $75,000 for 40% equity, and Barbara offered the same deal but with a 5% royalty on sales until $75,000 was recouped. Daniel countered Barbara with $100,000 for 40% equity and a 5% royalty, and they ended up accepting Barbara's offer.
"The Heat Helper" - Lyle Schuette pitched a laundry dryer heat-recycling device. He asked for $100,000 for 50% equity. Heat helper recycles the hot air from the dryer, filters it and blows it back inside the house, instead of blowing it out. The product had sold 680 units through the website at $99 each. It saved an average family $189 per year in heating bills. Lowes and Walmart had the product in the store as special order item (they order it and it gets delivered in 2 days), and only sold 20 units. Daymond is out. Kevin is out as it wont be a big business. Barbara is out since Lyle runs a full time dirt business and only does the heat helper part time. so are Robert and Mark.
"Technology Enabled Clothing" - Scott Jordan presented clothing designed for portable electronics. He asked for $500,000 for 15% equity. Scott had patented the clothing system and wanted to license the technology to other clothing manufacturers. He ran a separate retail business using the same tech, but it was not for sale. The retail business was on track to do $12 million in sales that year. Scott also reveals that other clothing manufacturers have infringed upon his patent & he has collected, and they pay him a royalty on their sales now. Mark says that the patent for running wires through clothing is nonsense and feels that this spurious litigation is killing USA. Barbara is out since she thinks Scott will be difficult to deal with. Mark challenges Scott that his patent will be worthless when wireless technology takes hold, he is out. Daymond is out since Scott didn't offer a part of the bigger business. Kevin and Robert offer $1 million for 30% for patent and the retail business. Robert asks Scott if he will consider selling his retail business at all. Scott makes a call to his advisor Steve Wozniak. After the call, Scott comes in and rejects both their offers as too low for his lucrative retail business..
Lastly, there was an update on Daisy Cakes from a previous episode. Kimberly Nelson's deal with Barbara resulted in a significant boost in sales, from 2,000 cakes a year to $100,000 in sales per month. The business had expanded, with a new bakery capable of baking 160 cakes at a time.
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