ENTREPRENEUR: Jerry & Naomi Hancock
PITCH: SubZero Ice Cream
ASKING FOR: $300k for a 12% stake
BEST PART OF THE PITCH: Jerry and Naomi literally blow the sharks away with burst of frozen air. They've developed a method for making frozen desserts in front of the customers using liquid nitrogen. They are asking the sharks to imagine an ice cream store without any freezers. They make fresh, frozen, custom-ordered ice cream in about one minute. If the ice cream starts to melt, they can actually refreeze it. The sharks say it tastes great and is creamier than regular ice cream. Costs go down because you don't need expensive freezers. They have 18 retail outlets and 8 more that have been sold. They are projecting about $4 million in sales by the end of the year, but they had to buy out a past bad business partner for $500k.
DO THE SHARKS BITE? Daymond likes the idea, but he doesn't have the hours or time to help them grow the business. He's out. Kevin can relate to this pitch because his first job was as an ice cream scooper. But this interesting idea isn't enough for him to invest. He's out. The idea Jerry and Naomi have of bringing in another outsider doesn't make sense to Robert, so he's out. Lori thinks this is a great idea. She believes they can achieve success on their own, so she's out. Mark likes the idea as well, but he doesn't want to be in the ice cream franchise business. He's out, but will still eat some more of their ice cream.
WANT TO KNOW MORE: Visit http://www.subzeroicecream.com