ENTREPRENEUR: Jill Quilln
PITCH: LipStix ReMix™, a way to save the lipstick that gets stuck at the bottom of the tube.
ASKING FOR: $105k for a 30% stake.
BEST PART OF THE PITCH: Jill has created a product that melts, mixes and molds the last bits of lipstick in a tube that simply won't twist up. You microwave the leftovers from three used tubes and pour them into a mold. Freeze it for ten minutes and then pop it into a brand new tube!
DO THE SHARKS BITE? All of the sharks love the idea and are most-impressed with Jill. Unfortunately, Robert and Kevin O. just aren't lipstick guys, so they bail. Barbara is interested, but only wants to give her half the cash. Daymond offers the full amount for 40%. Kevin H. offers to partner with Barbara for 40%. Then Daymond suggests to Kevin that they partner and cut out Barbara altogether.
RESULT: Barbara is initially ticked by the snub and won't even consider the three-way deal Kevin H. offers. But she reconsiders when Jill steps out to call her husband. But now they want 50% of the biz. Jill says, "That's was the fastest 10% I ever lost." Nevertheless, she puckers up and takes the deal.
WANT TO KNOW MORE: Visit www.lipstixremix.com .
ENTREPRENEUR: Tim Gavern
PITCH: Captain Ice Cream, a mobile novelty ice cream vending business.
ASKING FOR: $48k for a 25% stake.
BEST PART OF THE PITCH: Tim has a very unique ice cream moped and a wholesome Captain Ice Cream experience that he hopes to franchise. Daymond is impressed that Tim has trademarked the phrase "Captain Ice Cream." Also, the ice cream is quite tasty.
DO THE SHARKS BITE? Tim only sells about $200 worth of ice cream per day. As Barbara points out, he's selling a concept. Daymond likes Tim's attitude, but the business isn't big enough. He's out. The rest of the sharks would happily buy ice cream from Tim; they just can't buy into his business. They are all out. Tim leaves the Shark Tank, but forgets to bring his "Captain Ice Cream" moped. That was a mistake, as the sharks raid the contents and Robert takes the vehicle for a joyride. We just hope he doesn't assume Captain Ice Cream's identity. After all, it is trademarked.
WANT TO KNOW MORE: Visit www.captainicecream.com .
ENTREPRENEUR: Michael Schiavone
ASKING FOR: $200k for a 25% stake.
BEST PART OF THE PITCH: Michael came up with his idea after a late-night stop for some grub where he was likely served some caffeinated coffee. He has placed a litmus-like indicator on sweetener packets. It changes color in the presence of caffeine. The sweetener packet market is about a $12 billion industry. Michael wants to create a sugar bowl brawl between all the major players out there fighting for market share. Sweet!
DO THE SHARKS BITE? Everyone is intrigued by Michael. Kevin O. says, "You know there's something nasty about you I really like." It's a compliment, in case you didn't know. Barbara doesn't think the public is as caffeine-conspiracy-minded as he needs them to be. She's out. Daymond, too. Robert offers the $200k for 60% contingent on getting a deal with one of the major players. Kevin H. will also give him the cash, but for 50%. Kevin O. can't seem to decide if he's in or out.
RESULT: Kevin H. is tired of waiting to hear from the wavering Kevin O. He says he needs an answer or he's taking his offer off the table. So, Michael gives him one. They have a deal. They can work out the details over coffee. Decaf, of course.
WANT TO KNOW MORE: Visit www.caffeindicator.com .
ENTREPRENEUR: Jeff and Annie Hughes
PITCH: LegalGrind, a coffeehouse that is also a legal resource center.
ASKING FOR: $200k for a 15% stake.
BEST PART OF THE PITCH: Jeff is a lawyer who was spending more time in coffeehouses than courthouses. So he opened up his own coffeehouse that offers legal info and services. They've been in business since 1996 and they net around $20,000-$30,000 per year. Jeff and Annie want to target the middle class and they have a list of franchisee requests.
DO THE SHARKS BITE? Some of the sharks question the coffeehouse aspect of the idea. Kevin O. wonders why this isn't done on the Internet. Jeff and Annie argue that people like the human interaction and prefer dealing with real people. It's all about making the client feel comfortable. But it all comes down to money and Kevin O. says there's no money in this. Annie disagrees, vehemently. At the end of the day, no one sees the possibility for a successful franchise venture. They are all out.
WANT TO KNOW MORE: Visit www.LegalGrind.com.