ENTREPRENEUR: Bea Arthur
PITCH: Pretty Padded Room
ASKING FOR: $100k and a 30% stake
BEST PART OF THE PITCH: Bea created a place that provides online therapy to women. Clients are connected to licensed female therapists via video chats or digital diaries for a fraction of the price paid for seeing a real psychotherapist. Bea has set up a subscription service with various price structures. She did about $7,500 sales in her first year. She's on course to do $21,000 in sales this year.
DO THE SHARKS BITE? Robert is concerned because the drop-off rate after a person signs up for the sessions seems to be huge. The numbers just don't add up. He's out. Mark agrees that Bea needs to learn the language of business before she can move forward. He's out. Barbara likes the noble purpose of the service. She advises her to find a smart finance person to help with her business, but she's out. Daymond likes Bea's passion, but he can't invest because of the numbers. He's out. Kevin says that Bea did a service to entrepreneurs who come into the tank without knowing the numbers for their business. He's out, too.