ENTREPRENEUR: Mike Lane & Mark Franklin
PITCH: Posture Now
ASKING FOR: $100k for a 15% stake
BEST PART OF THE PITCH: Anna Trebunskaya and Jonathan Roberts of Dancing with the Stars fame sashay their way into the tank to help Mike and Mark demonstrate the benefits of proper posture. The guys have created a strap that keeps your posture perfect. Jonathan is even wearing it as he dances with his lovely wife, Anna. They've sold about $330,000 to date over the Internet. They have a patent pending and a lot of support from chiropractors and HR folks in big companies.
DO THE SHARKS BITE? Kevin offers $100k for 50% and he wants a 10% royalty. That offer is rejected immediately. Daymond believes these guys shouldn't be in the tank. Mike says he's not begging for something, he's offering something. Daymond goes out because he feels Mike ran his mouth too much. Barbara likes these guys, but she still goes out. Robert offers $100k for 40% but pulls it almost immediately because he feels like the guys are just working the room to find better offers. That leaves Mark.
THE RESULT: Mark offers $100k for a 30% and wants a $5 royalty on each sale only until he gets his money back. The guys take the deal and Mike quits his day job on national TV so he can work on this business fulltime. He also shares a celebratory dance with Anna as they exit the tank.
WANT TO KNOW MORE: Visit http://www.posturenow.com