SHARK TANK - EPISODE 315
ENTREPRENEUR: Erika Welsh & Keeley Tillotson
PITCH: Wild Squirrel Nut Butter
ASKING FOR: $50k for a 10% stake
BEST PART OF THE PITCH: The sophomore college girls from Oregon created their own homemade peanut butter in their apartment. They came up with four exciting flavors. They've sold thousands of jars on their website for a $14,000 gross and a $7,000 profit. They'll soon be on supermarket shelves throughout Oregon.
DO THE SHARKS BITE? Daymond doesn't know this business space, so he's out. Robert wants to know who is going to run this business if both of the girls are in college. He wants to know who will do this job fulltime if he gives up his money. He's out. Mark wonders the same thing. That's why he's out, too. Kevin follows his lead, as he believes the world of competitive peanut butter will crush them. That leaves Barbara, who says it would take a lot more than what they're asking for to make this a success. So she has an offer
THE RESULT Barbara offers the ladies the $50,000 but wants 40%. Erika and Keeley counter with 35%. That's not enough for Barbara, so the ladies eventually agree to the 40%. Hopefully they'll get a lot of bread to go along with their peanut butter.