- Pitches include a deodorizer for both breath and hands, a hair product for very curly hair, and an all-in-one suction mat and plate for toddlers.
- In this episode of Shark Tank, several entrepreneurs presented their business ideas to the sharks: Mark, Barbara, Kevin, Lori, and Robert.
The first product, called "Sprëtz," was a deodorizer for breath and hands. Tony Gauthier, Scott Hoag, and Wesley Osaze asked for $100K in exchange for a 20% stake in the company. They had sold 1000 units at a retail price of $4 each. However, Mark saw a significant challenge in marketing and customer education and decided to opt out. Kevin also declined the investment, considering it too risky and requiring more capital than the $100K offered. Barbara and Robert followed suit, not seeing potential in the product. Lori, on the other hand, decided not to invest because she didn't see a strong customer need.
Next up was "Hungry Harvest," a service that delivered surplus produce at lower costs. Evan Lutz sought $50,000 for a 5% stake in the company. He addressed the issue of 6 billion pounds of produce being wasted in the USA due to their appearance. Evan purchased this "ugly" produce at discounted prices and delivered it to subscribers as part of a monthly subscription service, with prices ranging from $15 to $35 depending on the bag size. They sourced the produce from farmers and wholesalers. In the past 12 months, they achieved sales of $141,000 but incurred a loss of $20,000. They had 500 active customers, and the average bag sold for $19, costing $8.25. Barbara decided not to invest since the business was not profitable. Robert offered $100,000 for a 10% stake, showing great passion for the cause. However, he felt offended when Evan started considering Kevin's offer. Just before Robert backed out, Evan accepted his offer.
The entrepreneurs behind "Controlled Chaos" pitched their hair care products designed for very curly hair. Maureen Emerson and Alanna York sought $50,000 for a 20% stake in their company. They primarily sold their products in hair salons, with one SKU dominating their sales-$30,000 worth of curl cream out of $85,000 in total sales last year. They had invested $300,000 in the business. Although they owned a salon that generated $1 million in annual sales, it was not part of the deal. The entrepreneurs required funding to re-brand their packaging and hoped the sharks' connections could help reduce the cost. Mark decided not to invest, while Kevin offered $50,000 for a 50% stake, focusing on the curl cream. Lori countered with an offer of $51,000 for 50%, and Barbara made an offer of $50,000 for 51% of profits (equivalent to 33.3% ownership). Lori then increased her offer to $60,000 for 50%, and Robert opted out. Alanna accepted Lori's offer.
The final entrepreneur, Lindsey Laurain, presented "Ezpz," an all-in-one place-mat and plate with suction cups designed for toddlers. She sought $1 million for a 5% stake in her company. The product sold for $25, wholesaled for $12.5, and cost $6 to produce. The sales for the current year reached $1.2 million, and Lindsey had secured a patent pending. She was also working on expanding international distribution. However, Robert decided not to invest, questioning the lack of solid data behind Lindsey's claims. Lori opted out due to the risk associated with the patent. Kevin offered $1 million for a 5% stake, with the potential to increase his ownership to 20% if Lindsey failed to reach $10 million in sales the following year. Mark chose not to invest, expressing skepticism about Lindsey's sales projections. Barbara then offered $1 million for a 5% stake, paid in installments of $250,000 per year, contingent on the patent and meeting sales benchmarks. Lindsey rejected all the offers and faced criticism from the sharks for lacking confidence in her own numbers.
In an update from a previous episode, it was revealed that Anna Stork and Andrea Sreshta had made a deal with Mark for their solar-powered inflatable light company called LuminAID. They experienced significant growth, with sales increasing from $1 million before their appearance on the show to $2 million in the nine months following the episode. They successfully partnered with the Container Store and also collaborated with Shelter Box, distributing 50,000 lights to disaster zones in over 50 countries.
Contribute to this page
Suggest an edit or add missing content