- Self-professed wine connoisseur Kevin O'Leary gives advice to a lady from Solano Beach, CA on her lighter, healthier alternative to a full-bodied wine. Likewise, Robert Herjavec has some suggestions for a former merchant marine from Anacortes, WA on his innovative, deep-sea treasure hunting business. Three men from San Francisco, CA hope to paddle their way into a deal with a collapsible kayak that folds up like the traditional Japanese art of origami, and a couple from Pleasant Hill, CA reveal to the Sharks the surprising twist they put into their decadent cinnamon rolls. Also, an update on Jim Tselikis and Sabin Lomac from Los Angeles, CA and their Maine lobster roll food truck business.
- In the Shark Tank episode, several entrepreneurs pitched their business ideas to the Sharks: Mark, Daymond, Kevin, Barbara, and Robert.
The first pitch was for "Oru Kayak," a unique kayak that could be folded into a compact suitcase. Ardy Sobhani, Anton Willis, and Roberto Gutierrez sought $500,000 for a 12% stake in their business. The Oru Kayak weighed only 26 pounds and had sold 1,228 units at a price of $1,100, resulting in sales of $1.1 million. The product was competitively priced with traditional kayaks and offered advantages such as being lightweight and easy to assemble compared to other collapsible boats in the market. The entrepreneurs projected $4 million in revenues for the next year. Mark declined to invest due to his lack of experience in kayaking, while Kevin felt that $500,000 was insufficient to implement the necessary manufacturing automation. Daymond expressed concerns about the manufacturing process, and Barbara, who owned two kayaks she rarely used, opted out. Robert made an offer of $500,000 for a 25% stake, which led to negotiations eventually settling at 20%. The entrepreneurs accepted Robert's offer.
Next up was "Bon Affair," a premium wine spritzer presented by Jayla Siciliano. She sought $150,000 for a 35% stake in her business. Bon Affair had a unique selling point with its low alcohol content of 6.5% and fewer calories compared to regular wine, targeting career women as its primary market. The company had generated $11,000 in sales over the past six weeks, but encountered setbacks with leaky caps during its initial production run, resulting in significant inventory losses. The original investors put in an additional $150,000, bringing the total investment to $700,000. Daymond believed that branding efforts would require $5 million and decided not to invest, while Robert expressed concerns about the diluted valuation. Kevin advised Jayla to approach Costco, the largest wine retailer, but ultimately opted out. Barbara felt that too much money had been wasted and chose not to invest. Mark made an offer of $150,000 for a 35% stake, and Jayla accepted his offer based on her positive impression of him.
Mark Hargitt pitched "Hargitt Marine Services," a treasure hunting venture seeking $250,000 for a 25% stake. The business aimed to salvage cargo from a sunken ship containing copper and gold ore valued at $2.4 million. However, Mark Hargitt's pitch did not impress the Sharks, as they believed similar treasure hunt ideas often failed to materialize as intended. Robert did not see the profitability and decided not to invest, while Barbara found the venture lacking sex appeal. Daymond and Kevin also opted out due to concerns about the high risk involved.
Finally, Shannon and Florian Radke presented "Cinnaholic," a business specializing in custom gourmet cinnamon rolls. They sought $200,000 for a 20% stake in their company. Cinnaholic offered 30 varieties of vegan rolls with various toppings, each serving containing 500 calories. They had one location and planned to use the investment to open a second store before expanding through franchising. With sales of $260,000 in the previous year and a net profit margin of 17%, the entrepreneurs aimed to tap into the online market as well. Barbara pointed out the success of Cousins Maine Lobster's food trucks and expressed doubts about Shannon's business volumes. Daymond believed the valuation was too high, and Kevin advised the couple to focus on online sales. Robert offered $200,000 for a 40% stake but limited to online operations only. Kevin offered a different deal, providing $200,000 at $1.20 per unit with a reduced cost of 60 cents per unit after the initial investment was repaid. After negotiations with Robert, Shannon and Florian accepted his offer of a 40% stake.
In an update on a previous investment, Cousins Maine Lobster, Sabin Lomac and Jim Tselikis had experienced remarkable success after partnering with Barbara. Their food truck business went from $150,000 in sales before appearing on Shark Tank to $700,000 in the last update, and had since expanded into franchising. The latest update revealed sales of $3.5 million per year, showcasing the significant growth and success of the business.
Contribute to this page
Suggest an edit or add missing content