- Helping men with marriage proposals; a baby-bump sound system; a maker of bread puddings seeks an investment in her business; a safe fur color for dogs.
- In this episode of Shark Tank, several entrepreneurs presented their business ideas seeking investment from the Sharks.
First, Sarah Schulz introduced her bread pudding dessert business called "Schulzies Bread Pudding." She requested $160,000 in exchange for a 20% stake in her company. Sarah had successfully opened a bread pudding parlor in San Francisco (SFO) and had generated $190,000 in sales the previous year. She had two stores, one in Miami Beach with 140 square feet and another in SFO with 800 square feet. The rent for her SFO store was $3,200 per month. However, her sales per square foot in SFO had dropped to $450, whereas in Miami, she was selling at $1,300 per square foot. Sarah had invested $300,000 from her late father. Despite the potential, Kevin and Barbara opted out due to their lack of confidence in Sarah's ability to execute her plans. Robert was not interested as there was no business plan, and Mark believed Sarah needed more discipline and was also out.
Next, James Ambler pitched his business, "Paparazzi Proposals," which specialized in capturing proposal moments through paparazzi-style photography. He was seeking $250,000 for a 20% stake in his company. James primarily operated in New York but wanted to expand into other cities. He planned to collaborate with jewelry stores to offer his service to their customers. He had generated $100,000 in sales over the past two years. While Mark warned against the challenges of keeping up with demand from potential partnerships, Lori believed the business had the ability to scale to high volumes. However, Kevin was not convinced about the valuation, and Barbara thought James should stick to New York. Lori offered $250,000 for a 50% stake, but James declined. Eventually, James accepted Kevin's offer of $50,000 for 33% equity and a $200,000 loan as needed, with Lori joining the deal.
Another business called "BellyBuds" was presented by Curtis Mark Williams and Matt Von Waaden. They sought a $500,000 investment for a 12.5% stake in their company. BellyBuds provided speakers that played music to the womb of expectant mothers. The product had generated $300,000 in sales the previous year, and they projected sales of $1.1 million for the current year. However, they faced challenges due to selling to distributors who undercut their other retailers. Despite having a unique adhesive feature and a patent-pending product, the Sharks had reservations. Lori and Barbara were concerned about inventory investments before sales, while Kevin and Robert found the product lacking differentiation. Mark believed the product would face competition from China. Consequently, all Sharks opted out.
The next entrepreneur, Abe Geary, pitched his business "PetPaint," which offered colored hairspray for dogs. He requested $200,000 for a 20% stake in his company. Abe had invested $240,000, primarily in inventory, and had generated $70,000 in sales so far. The product, which dried in 20-30 seconds and was safe for dogs if licked, retailed for $10. PetPaint had secured a deal with PetSmart for 50 stores, amounting to $12,000. Abe projected sales of $200,000 for the current year. Although Barbara and Lori were not convinced about the sales potential for a $10 product, Kevin and Robert had different concerns. Kevin did not see any proprietary aspects, and Robert believed Abe missed out on social media marketing opportunities. Ultimately, all Sharks opted out, with Barbara offering a deal of $200,000 for 60% equity, including website and social media marketing. Abe rejected the offer, and Barbara was out.
Finally, an update was provided on "SoundBender" from a previous episode. Moshe Weiss had made a deal with Daymond for his iPad accessory, and sales increased from $7,000 to $250,000 post-tank. Daymond secured a licensing deal with the Wish factory, guaranteeing a minimum of $2 million in sales.
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