Shark Tank
FRIDAYS 9|8c
Season 3
SHARK TANK - "Episode 302" - The Sharks tear into the business idea of a Phoenix, AZ man who wants them to invest in a watch he claims provides health benefits; a stay-at-home mom from Gilbert, AZ could lose her gourmet pretzel business if she leaves the Tank without an investor; a man from Bozeman, MT with a no-tools-required furniture system hopes he can assemble a deal; and an inventor from Fullerton, CA has a small but powerful idea that could make him a millionaire. Also, Johnson Barley from Broken Arrow, OK, whose Original Man Candle did not spark a deal with the Sharks in Season Two, talks about his business since his appearance, on "Shark Tank," FRIDAY, FEBRUARY 24 (8:00-9:00 p.m., ET) on the ABC Television Network. (ABC/MICHAEL ANSELL)RAVEN THOMAS (THE PAINTED PRETZEL)
Episode 302
Season 3 | Episode 2 | Aired 02/24/12

ENTREPRENEUR: Raven Thomas

PITCH: The Painted Pretzel

ASKING FOR: $100k for a 25% stake

BEST PART OF THE PITCH: Raven started her business over three years ago when she began selling chocolate-covered pretzels. The tasty treats now come in unlimited flavor combinations. They are topped with unique toppings. She's had $75,000 in sales over the past year, has another $64,000 order that just came in and she has $140,000 in orders that she doesn't have the capital to fulfill. She's also in stores like Neiman-Marcus.

DO THE SHARKS BITE? Kevin wants to know what's unique about the Painted Pretzel. That's easy. The taste. Mark adds that other companies don't have Raven's heart and soul. Lori wants to know why they should invest in her. Raven's answer is that she's showing her kids that she can be a success by following her dream. That's not a good enough answer for Kevin. He's out. Raven thinks he may change his mind when she tells him that she had to walk away from a $2 million deal from Sam's Club because she didn't have the capital to fill the order.

THE RESULT: Mark tells Raven he can sell the pretzels in his sports arena and movie theaters. He'll give her $100k for 25% if she'll say yes right now. Raven partners up with Mark. No other negotiations are heard in this very tasty deal.

WANT TO KNOW MORE: Visit http://www.ThePaintedPretzel.com

 

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  • Question: What is the best investment you have made to date on Shark Tank ? Answer: The Readerest was my 1st and in just a year since its' debut episode on Shark Tank we have hit 5 ½ million in sales, it is in major national retailers & 20 international countries. Rick has been a delight to work with and we've also gone on to create two other new items together which are also new successes on the market. Question: Have there been any deals that you had wish that you made in hindsight? Answer:No regrets Question: Any investment that you wish you hadn't made? Answer: I'm happy to say no, all the deals that went through that I did do, I'm happy I did them. Question: Any service/product that you wish you had invented yourself? Answer: No, I'm happy that the inventors invented them and that they're doing well and are successful…it's their turn. Question: Is there anything that has surprised you over the season in terms of the pitches? Answer: Yes, some entrepreneurs that I thought were very genuine in wanting the Sharks' help, I found were not. That was very disappointing & surprising. Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch? Answer: Yes, and we saw it happen this past season. Question: What's your best advice on how to pitch? Answer: Be confident, and likeable, know your product inside & out. Be prepared & try to practice and be ready for any questions that could possibly come your way about you, your product, or your business idea. Question: Do you have to be memorable to make a good pitch? Answer: It obviously would help if the person & the idea were something that were so compelling that they would be memorable. Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank? Answer: Be prepared, enthusiastic, know your idea inside & out, have all the facts, be polite & respectful-be someone people would want to work with. If you're not passionate about your product or idea, no one else will be. Question: What's been the most memorable part of being on the show for you? Answer: How much I enjoy the cast & crew, it's a wonderful team & one I'm proud to be a part of. See what Barbara had to say. See what Daymond had to say. See what Kevin had to say. See what Robert had to say.
  • Question: What is the best investment you have made to date on Shark Tank ? Answer: Chordbuddy comes to mind – great guy and an even better investment – product has found a niche and we have had spectacular growth. Question: Have there been any deals that you had wish that you made in hindsight? Any investment that you wish you hadn't made? Answer: No – my life has no rear view mirror – constant forward momentum. You can't change the past. Question: Any service/product that you wish you had invented yourself? Answer: No – I'm not a big believer in invention - I have lots of ideas, but the magic is not in the creation of ideas – it's in the execution of the plan. Question: Is there anything that has surprised you over the season in terms of the pitches? Answer: People know us – they study us – they are becoming more astute – we have to elevate our game – not only with the pitchers but also against the other Sharks. Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch? Answer: Yes – happens all the time. A great business is a mixture of the right entrepreneur, product, execution and so on. You can't have one without the other – a great idea without a great entrepreneur is not a business – it is simply potential. Question: What's your best advice on how to pitch? Answer: Get us interested ( quickly ) – bored Sharks make snap decisions – and not always in your favor. Once you have us interested – know your numbers. Question: Do you have to be memorable to make a good pitch? Answer: No – but you have to be able to make an impact while you are in front of us. Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank? Answer: If the 6 of us can be successful, anyone can – and more importantly any business, in any field can be a great business – look at the varied set of products and services people come to us with. Question: What's been the most memorable part of being on the show for you? Answer: Inspiring others – when I was growing up being in business was not cool. I think Shark Tank is making business cool in our own small way – and of course, as a boring old computer guy, I am appreciative that my name and cool would ever be used in the same sentence. See what Barbara had to say. See what Daymond had to say. See what Lori had to say. See what Kevin had to say.
  • Question: What is the best investment you have made to date on Shark Tank ? Answer: The Readerest was my 1st and in just a year since its' debut episode on Shark Tank we have hit 5 ½ million in sales, it is in major national retailers & 20 international countries. Rick has been a delight to work with and we've also gone on to create two other new items together which are also new successes on the market. Question: Have there been any deals that you had wish that you made in hindsight? Answer:No regrets Question: Any investment that you wish you hadn't made? Answer: I'm happy to say no, all the deals that went through that I did do, I'm happy I did them. Question: Any service/product that you wish you had invented yourself? Answer: No, I'm happy that the inventors invented them and that they're doing well and are successful…it's their turn. Question: Is there anything that has surprised you over the season in terms of the pitches? Answer: Yes, some entrepreneurs that I thought were very genuine in wanting the Sharks' help, I found were not. That was very disappointing & surprising. Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch? Answer: Yes, and we saw it happen this past season. Question: What's your best advice on how to pitch? Answer: Be confident, and likeable, know your product inside & out. Be prepared & try to practice and be ready for any questions that could possibly come your way about you, your product, or your business idea. Question: Do you have to be memorable to make a good pitch? Answer: It obviously would help if the person & the idea were something that were so compelling that they would be memorable. Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank? Answer: Be prepared, enthusiastic, know your idea inside & out, have all the facts, be polite & respectful-be someone people would want to work with. If you're not passionate about your product or idea, no one else will be. Question: What's been the most memorable part of being on the show for you? Answer: How much I enjoy the cast & crew, it's a wonderful team & one I'm proud to be a part of. See what Barbara had to say. See what Robert had to say.
  • Question: What is the best investment you have made to date on Shark Tank ? Answer: Chordbuddy comes to mind – great guy and an even better investment – product has found a niche and we have had spectacular growth. Question: Have there been any deals that you had wish that you made in hindsight? Any investment that you wish you hadn't made? Answer: No – my life has no rear view mirror – constant forward momentum. You can't change the past. Question: Any service/product that you wish you had invented yourself? Answer: No – I'm not a big believer in invention - I have lots of ideas, but the magic is not in the creation of ideas – it's in the execution of the plan. Question: Is there anything that has surprised you over the season in terms of the pitches? Answer: People know us – they study us – they are becoming more astute – we have to elevate our game – not only with the pitchers but also against the other Sharks. Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch? Answer: Yes – happens all the time. A great business is a mixture of the right entrepreneur, product, execution and so on. You can't have one without the other – a great idea without a great entrepreneur is not a business – it is simply potential. Question: What's your best advice on how to pitch? Answer: Get us interested ( quickly ) – bored Sharks make snap decisions – and not always in your favor. Once you have us interested – know your numbers. Question: Do you have to be memorable to make a good pitch? Answer: No – but you have to be able to make an impact while you are in front of us. Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank? Answer: If the 6 of us can be successful, anyone can – and more importantly any business, in any field can be a great business – look at the varied set of products and services people come to us with. Question: What's been the most memorable part of being on the show for you? Answer: Inspiring others – when I was growing up being in business was not cool. I think Shark Tank is making business cool in our own small way – and of course, as a boring old computer guy, I am appreciative that my name and cool would ever be used in the same sentence. See what Lori had to say.

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