- Professional dancers demonstrate their posture correction device.
- During the latest episode of Shark Tank, several entrepreneurs presented their businesses seeking investment from the Sharks. Sharks attending are Mark, Daymond, Kevin, Barbara and Robert
The first pitch was from Liz & Dan Holtz, the owners of "Liz Lovely Cookies," a company specializing in gluten-free and vegan cookies. They were looking for $200,000 for a 10% stake in their business, which had generated $1 million in sales in the previous year. However, Kevin did not like the taste of the cookies, and although the company had made 10% profits, it struggled due to costs and overheads. The cookies had a shelf life of 30 days outside the freezer, costing $1 to produce a pack of two cookies and retailing for $4-5. The majority of their sales, 90%, were wholesale, while the remaining 10% were online. Daymond is out as he didn't like the cookie. Barbara is out since she doesn't think this money would accelerate the business. Robert is out since he didn't like the business strategy. Kevin hates the cookie and is out. Mark likes the product but doesn't like the valuation. Dan offers $200,000 for 20%. Mark says no and is out (he needed 33%).
Next up was Lee Dahlberg with his product "Rock Bands," bracelets made with allegedly healing stones. Lee was seeking $100,000 for a 20% stake in his business, which had achieved $300,000 in sales over 5.5 years. He had licensed the trademark to an Italian firm, receiving a 40% royalty on net profits. However, one customer had backed out of a significant purchase order worth $150,000. The bracelets cost $12 to make and were sold wholesale for $50 and retail for $100-150. The product had a modest sales rate of 12 units per week. Kevin and Barbara offered $100,000 for full ownership and a 7% royalty in perpetuity, while Mark and Daymond offered $100,000 for 40% ownership. Lee ultimately accepted the offer from Mark and Daymond. Note: Entertainment reporter Robin Leach makes a cameo to pitch for Rock Bands;
Following that, Tereson Dupuy presented "FuzziBunz," a company that manufactured reusable baby diapers. Tereson was seeking $500,000 for a 15% stake in her business, which was focused on tackling the environmental impact of disposable diapers that took 400 years to decompose in landfills. Reusable diapers saved parents $2500 in diaper costs. The company generated $3.9 million in sales last year, primarily through internet sites. However, they faced manufacturing problems, as a distributor in Hong Kong stole their product and began competing in the US. Profits are $20,000 as a result. If the patent sticks, sales would be 70% higher. Many folks are infringing on her patent and all together are selling $30-40 million of product every year. Mark is angry as Tereson chose to go down the litigation route instead of out competing the imitators and is out. Barbara is out since she doesn't trust Tereson's judgment. Daymond is out. Robert is out since she is looking for a lifeline. Kevin is out as he thinks the business is not salvageable.
Finally, Mike Franklin and Mike Lane presented "Posture Now," a posture correcting device. The Mikes were seeking $100,000 for a 15% stake in their business, which had generated $330,000 in sales. The device retailed for $40, cost $5 to produce, and was sold exclusively online. Although the product had a pending utility patent, they had not secured any corporate orders yet. The Mikes had previously treated the business as a hobby until they realized its potential. Robert advised them to work on the business full-time, but Kevin's offer of $100,000 for 50% ownership plus a 10% royalty was declined by Mike. Daymond is out. Barbara is out since she doesn't know who the target market is. Robert offers $100,000 for 40%. Mike is disrespectful to Robert's offer by asking Mark for his offer and he pulls it back. Eventually, Mark offered $100,000 for 30% ownership and an additional $5 per unit until the initial investment was paid back. The Mikes accepted Mark's offer, with the condition that Mike had to be full-time on the business by quitting his job. Note:Dancing with the Stars pros Jonathan Roberts and Anna Trebunskaya make cameos to pitch for Posture Now.
In an update on a previous deal with Stephen Aarstol's "Tower Paddle Boards," Mark had invested in the business during a previous episode (Episode 309). The company had experienced remarkable success, achieving $1.5 million in sales in the current year.
Contribute to this page
Suggest an edit or add missing content