ENTREPRENEUR: Jeff Wolsky
PITCH: The Bobble Place, producer of custom-made bobbleheads.
ASKING FOR: $75,000k for an 18% stake.
BEST PART OF THE PITCH: Jeff can make custom-made bobbleheads from photos provided by the client. He even brings in some sample bobbleheads of the sharks. All the heads bobble, but only the likeness of Kevin O. is seen holding a handful of cash. Jeff has an existing online business and wants to launch a separate company to set up retail kiosk locations in shopping malls.
DO THE SHARKS BITE? Jeff appears to be hiding the fact that he has an existing online business that makes seven figures. Several sharks want a piece of that action before investing in this new business. Kevin H., Daymond and Barbara are out right away. Kevin O. offers Jeff the $75k for an 18% stake in his existing business. He also forbids him from any more mall talk, as he thinks it's more important to see the already successful business grow. Jeff says he doesn't need the money for his existing company and declines the offer. Kevin O. then offers $100k for 20% and Robert offers $125k for 20%. Jeff counters by saying he'll accept both offers, but Robert and Kevin O. only get 10% each.
RESULT: Jeff is asked to leave the room while Robert and Kevin O. chat. They realize that Jeff doubled the price once Robert got involved. They call Jeff back and offer $100k for 20%. Jeff declines and Robert goes back to his original offer. That's still not good enough for Jeff, who offers 7% for 100k. Robert thinks this relationship is a little too complicated and he's out. The sharks do get to keep the bobbleheads though.
WANT TO KNOW MORE: Visit www.webobble.com.
ENTREPRENEUR: Sandy Hyun & Roman Pietrs
PITCH: Mr. Poncho, a protective covering for MP3 players and the like that solves the problem of tangled headphones cords.
ASKING FOR: 50k for a 25% stake.
BEST PART OF THE PITCH: They've been in business for two years and have shown a profit each year. They have a patent pending on the unit as a whole, but not the device that holds the headphones. The product sells for about $18 and cost about $3 to make. Sandy and Roman have been making them in their apartment and are looking to grow.
DO THE SHARKS BITE? Robert doesn't like the product. He feels that kids won't want to buy it because they likely won't want to cover their MP3 players. Barbara is out because they don't have a patent on the headphone holder. Kevin H., Daymond and Kevin O. can't invest either, but the couple is encouraged to continue their business as young entrepreneurs.
WANT TO KNOW MORE: Visit www.mrponcho.com.
ENTREPRENEUR: Dr. Floyd Seskin
PITCH: The URO Club.
ASKING FOR: $25k for a 51% stake.
BEST PART OF THE PITCH: Dr. Seskin is a board-certified urologist and golfer. A doctor who plays golf? How weird is that? Many of Dr. Seskin's patients also golf and, since he's a urologist, you may have guessed that many of them also urinate...a lot. He's designed and produced a receptacle device for those times you really have to go wee-wee while playing putt-putt. His product looks exactly like a seven-iron except for the wider grip that functions as the reservoir.
DO THE SHARKS BITE? Daymond says he wouldn't know how to market the product, so he's out. Barbara says she obviously can't relate to the product (guess she doesn't golf), so she's out. Robert says he can't invest in something he'd never use. Kevin O. is out, too. Only Kevin H. shows interest in making a deal.
RESULT: Kevin O. says to Kevin H., "You're gonna buy the pee-pee pole?" Kevin H. says he'll invest the 25k but for 70% of the company. Dr. Seskin takes the deal and feels Kevin will make the product a huge success. Congratulations, Dr. Seskin. You made a deal and now "urine the money."
WANT TO KNOW MORE: Visit www.uroclub.com.
ENTREPRENEUR: Brian Duggan & Adam McCombs
PITCH: Jump Forward, an online service allowing high school athletes and parents to profile their skills to market themselves to colleges.
ASKING FOR: $150k for a 10% stake
BEST PART OF THE PITCH: The colleges pay a subscription fee as well as fees for maintenance and consulting. They have 30 schools signed up, 300 college coaches and 60,000 prospective athletes in the system. They've generated $150k in contracts in three months and believe it could be a 35 million dollar business. They proactively enforce the recruitment rules of the NCAA and have a patent on the mobile application aspect of contact between coaches and recruits.
DO THE SHARKS BITE? Barbara and Kevin H. are scared off by the risk of the technology business. Daymond is afraid it's all a little too complicated. They are out. Kevin O. is very impressed with the knowledge and expertise Brian and Adam bring to the table. He offers them $200k for 20%. Robert is equally impressed and offers them $300k for 35%. For the second time this episode, Kevin O. asks the entrepreneurs to step out of the tank so he can chat with Robert. Kevin O. suggests they collude with each other so they don't compete and drive up the price.
RESULT: Robert and Kevin O. offer $400k for 50% of the business. That offer is rejected. Robert then offers 600k for 50%. Brian counters by saying 50% will cost them $750k. But Robert and Kevin O. don't budge. It's a tense showdown until Brian finally says, "Done."
WANT TO KNOW MORE: Visit www.jumpforward.com.