ENTREPRENEUR: Abby Jordan and Becky App
PITCH: ECreamery
ASKING FOR: $250k for a 33% stake
BEST PART OF THE PITCH: Abby and Becky offer a service where you can design your own flavors of ice cream on their website. You can even name it. The personalized flavors can then be delivered to someone's front door. They provide shark-inspired samples such as Robert's InvestMint Mix, Barbara's Delicious Dividends, Mr. Wonderful's Shark Bait, Daymond's Fashionable Flavor Factory and The Cubanero. The ice cream is very creamy and tasty. They have $2 million dollars in sales since inception in 2007. They are on track for $750k in sales this year for a 60k profit.
DO THE SHARKS BITE? Robert loves the idea of selling the rather pricey product as a lifestyle experience as opposed to just pints of ice cream. What the sharks aren't crazy about is that the ladies have an investor who owns 70% of the company after putting in $600k. Still, Kevin is intrigued. He'll give a partial offer of $125k for 25%. He's looking for a partner. That's not going to be Daymond. He's out. Robert and Barbara follow his lead. Mark fears the ladies will be imitated by people looking to make a profit by delivering the product locally for less money. He's out. Without a partner, Kevin has no choice but to bail on what Abby and Becky describe as a very "sweet deal."
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