SHARK TANK - EPISODE 409
ENTREPRENEUR: Lucinda Lent & Juliet Boydstun
PITCH: The Coop
ASKING FOR: $150k for a 15% stake
BEST PART OF THE PITCH: The ladies created a kids' place that they could enjoy as much as the children do. The Coop is filled with modern toys for the kids and a cappuccino bar for the parents. They sell out every weekend and cater to celebrities as well as regular folks. They throw a little shark-themed birthday bash for Mark right there in the tank. The ladies made $350,000 last year in sales. They hope to turn their business into a franchise.
DO THE SHARKS BITE? Kevin believes this could be a franchise in the future, but it's too early for him to invest in right now. He's out. Daymond wouldn't add any value to this venture. He's out. Robert thinks the ladies should open another location, but on their own. He's out. Mark knows how difficult it is to grow a business you are so personally invested in. He also thinks there are other, less-expensive options for parents. He's out. That leaves Barbara.
THE RESULT: Barbara says she'll give the ladies $150k for a 15% stake, but she wants a personal guarantee that she'll get her money back in two years. Kevin says that only a savage would ask for a loan deal like that. The ladies take the deal anyway, as they need Barbara's expertise.