ENTREPRENEURS: Nancy Bush and Sue Kruskopf
PITCH: My Wonderful Life
ASKING FOR: $100k for a 10% stake
BEST PART OF THE PITCH: My Wonderful Life is a company that allows you to plan and personalize your own funeral. The ladies got the idea after Nancy lost her husband five years ago. The memorial she organized had others asking how they could have a similar celebration. Nancy and Sue use Mr. Wonderful himself, Kevin O'Leary, as a sample client to demonstrate how their product works. They have partnered with a large insurance company for a plan that gives people the opportunity to prepay for their funeral. The website has been up for three years, but they haven't made any money yet.
DO THE SHARKS BITE? Mark is worried because they haven't signed an exclusive deal with the insurance companies. Kevin feels there isn't anything proprietary here along with a slew of other issues he believes to be problematic. Mark also sees problems with their business model, so he's out. Daymond, too. Barbara believes the ladies came to the tank too early. She's out. Robert follows her lead. Kevin O'Leary wants a plan in which he can make money. This isn't it. He's out which means Nancy and Sue are dead in the water.