ENTREPRENEUR: Beverly Vines-Haines & Charlotte Clary
PITCH: ICE CHIPS CANDY
ASKING FOR:$250k for a 15% stake
BEST PART OF THE PITCH: The ladies pitch their Ice Chips Xylitol candy as the yummiest, healthiest candy on the market. They have 17 exciting flavors for their natural sweetener. Beverly and Charlotte thought that, at this point in their lives, they'd only be playing with their 37 grandchildren. Instead, they are selling and shipping ice chips all over the world. The sharks love the taste of the chips. The product is sold in health food stores. Dentists love them, too. Of course, if you eat the entire tin of candy, there's a chance you'll get a little diarrhea. The grandmas have $342k in sales this year alone and they could hit a million bucks by the end of the year.
DO THE SHARKS BITE? Barbara likes the unique product. She offers $125k for 33% of the company. She guarantees getting the grandmas in 3,000 big box stores. Kevin offers to partner with Barbara for 40%, but she doesn't want to be in business with Mr. Wonderful. She will, however, partner with Mark for the 40%. Daymond offers $250k for 30% and they'll get someone else to do the manufacturing. Kevin then offers to partner with Daymond for 35%. Daymond, however, offers to go it alone for 25%. Robert, on the other hand, is out.
THE RESULT: After all the negotiations are done, the entrepreneurial grannies feel Barbara and Mark are the best fit for their personalities. The sweet deal is sealed!