ENTREPRENEUR: Jeff and Annie Hughes
PITCH: LegalGrind, a coffeehouse that is also a legal resource center.
ASKING FOR: $200k for a 15% stake.
BEST PART OF THE PITCH: Jeff is a lawyer who was spending more time in coffeehouses than courthouses. So he opened up his own coffeehouse that offers legal info and services. They've been in business since 1996 and they net around $20,000-$30,000 per year. Jeff and Annie want to target the middle class and they have a list of franchisee requests.
DO THE SHARKS BITE? Some of the sharks question the coffeehouse aspect of the idea. Kevin O. wonders why this isn't done on the Internet. Jeff and Annie argue that people like the human interaction and prefer dealing with real people. It's all about making the client feel comfortable. But it all comes down to money and Kevin O. says there's no money in this. Annie disagrees, vehemently. At the end of the day, no one sees the possibility for a successful franchise venture. They are all out.
WANT TO KNOW MORE: Visit www.LegalGrind.com.