ENTERPRENEUR: Megan Gage
PITCH: Hot Tot Children's Hair Care
ASKING FOR: $50k for a 15% stake
BEST PART OF THE PITCH: Megan says her company produces professional hair care products for children without the use of harsh chemicals. She does a demonstration with her toddler son to show how it all works. Megan has been in business for 15 months with about $20k in sales. Lori thinks the packaging of the product needs to show that it's for children. Megan is resistant to that idea because of all the other similar, less-safe products out there with cutesy characters on their design.
DO THE SHARKS BITE? Kevin doesn't believe people will care about this product. He doesn't know if this is a real business or not, so he's out. Lori feels work still needs to be done before she can invest. She's out. Mark likes the product. He offers her $75k for 40% of the company. Robert thinks Mark's offer is better than any he could make, so he's out. Daymond knows Paul Mitchell, but doesn't think that his one contact is better than Mark's offer. He's out, too.