ENTREPRENEUR: Frank Scozzafava and Adam DiSilvestro
PITCH: Mix Bikini
ASKING FOR: $50k for a 5% stake
BEST PART OF THE PITCH: Mix Bikini is the world's first interchangeable swimsuit. All of the parts are sold separately and are interchangeable so ladies can mix things up without constantly having to buy a new bikini. Each bikini part sells for $9.99 which means it would cost between $40 and $50 to create an entire bikini.
DO THE SHARKS BITE? There was some miscommunication about the initial 5% stake that was offered. It's actually 10%. The sharks let the guys know that they need to have a solid business plan in place before they can give their guidance and money. Mark is out right away. Kevin says the only entrepreneurs that ever walk out of the tank with money have a clear focus on how they'll get rich. Frank tries to explain how this will happen, but Daymond says it's not that easy. He's out. The other sharks stay at bay while Barbara makes the guys an offer.
THE RESULT Even though the guys haven't provided any sales numbers, she does see a business with this product. She offers Frank and Adam the $50k for 25% of the business. Mark advises the guys to say yes right away, so they do.