ENTREPRENEUR: The Nardo Brothers
PITCH: Nardo's Natural
ASKING FOR: $75k for a 12% stake
BEST PART OF THE PITCH: Kyle, KJ, Danny and DJ Nardo are four brothers who have created a hand-blended organic skin care product. They developed their first moisturizer in their kitchen. They got into the skin care business after their mom helped DJ soothe some burns. They have $30,000 in sales since 2009. They project to make $4.8 million in two years. They need money for production. They even got a letter from the White House thanking them for their product.
DO THE SHARKS BITE? Kevin says that cosmetics can be a brutally competitive market. Mark thinks the guys would have been able to get a loan by now if their product was so incredible. He's out. Daymond thinks it's a little too early to invest in this business. He's out. Kevin and Robert, too. Barbara doesn't like the projection of $4.8 million in sales with no justification of how to get there. She also doesn't like the name of the product. But she does believe that no great entrepreneur ever succeeded without great naivety. That's why she offers the guys $75k for a 50% stake with the contingency that they be open to changing the name.