- A mask made of Alaskan glacial mud; powerstrips and surge protectors that blend in with hardwood floors; fanciful balloon designs; gourmet grilled cheese business update.
- Sharks Mark, Barbara, Kevin, Lori, and Robert were presented with several business pitches.
The first pitch was for "Alaska Glacial Mud Co.," a facial mask made from Alaskan glacial mud. The entrepreneur, Lauren Padawer, is a commercial salmon fisherman and was seeking a $100,000 investment for a 20% stake in the company. The mud goes through a refining process and is sourced from the Copper River, a wild Alaskan river system. The product had sales of $36,000 per year and was wholesaled to spas worldwide, retailing for $34 with a production cost of $3. Lori decided to opt out due to the highly competitive spa market, while Lauren had already invested $50,000 in the business. Mark believed there was a significant gap between ambition and reality and chose to pass. Robert felt that educating consumers about the product's superior qualities would require substantial investment and decided to opt out. Barbara, who had invested in a similar industry, learned that focusing on either retail or spa was essential, so she decided to pass as well. Kevin opted out due to the lack of proprietary features and the business's lack of profitability after three years.
The second pitch was for "InvisiPlug," power strips designed to blend in with hardwood floors. The entrepreneurs, Michael Barzman and Bryan O'Connell, sought a $125,000 investment for a 10% stake in the company. They had a design patent for the process and had already sold 1,500 units in 6.5 weeks, resulting in gross sales of $10,000 and net sales of $6,000. They received a purchase order from Costco for 3,000 units and were planning to reorder 120 units with a 785% margin if successful. Mark believed the product was not suitable for mass-market appeal and opted out. The entrepreneurs had also received features in Oprah Magazine, but Barbara and Kevin decided to pass as well. Lori made an offer of $125,000 for 10% equity and a royalty structure until the initial investment was returned, followed by a reduced royalty rate. A counteroffer was made, and Robert offered $125,000 for a 25% stake. The entrepreneurs agreed to a 20% stake with Robert, but ultimately Robert withdrew his offer, and the entrepreneurs accepted Lori's offer.
The third pitch was for "LockerBones," customizable shelving for school lockers. The entrepreneurs, Stephen A. Coachys and Greg Cronin, sought a $175,000 investment for a 10% stake in the company. The product retailed for $30, and they had already sold 500 units. They needed the investment to create moulds for a plastic version of the product, as the moulds for the metal version cost $28,000. They had received an order from Amazon for 10,000 units of the metal version, but retailers expressed more interest in the plastic version. Mark passed on the opportunity, as he felt the entrepreneurs were more focused on their vision than the financial aspect. Kevin and Barbara also chose to pass. Robert believed that selling to Amazon on consignment was not a wise move and suggested pursuing a path through Staples. He offered $87,500 for a 25% stake, and Lori joined him in the offer. The entrepreneurs accepted their offer.
The final update was provided on "Tom + Chee," a grilled cheese restaurant owned by Corey Ward and Trew Quackenbush. They had previously made a deal with Barbara in a previous episode. Before appearing on the show, they had achieved $1 million in sales over a year. However, after their appearance, they had already surpassed $1 million in sales within just three months. They had 80 employees across six locations and signed deals with three franchisees.
Contribute to this page
Suggest an edit or add missing content