ENTREPRENEUR: Dave Mayer
PITCH: Clean Bottle
ASKING FOR: $60k for a 5% stake
BEST PART OF THE PITCH: The Clean Bottle is a water container that unscrews from the bottom as well as the top for ease of cleaning. Dave launched the product about a year ago without a lot of market money. He had to get creative. Someone dressed in a giant Clean Bottle outfit jogged along the side of the road during the Tour de France. Dave has had $750,000 in sales since the race. Inside the giant Clean Bottle which Dave brings into the tank is two-time NBA champ Bill Walton, who loves the product. But will it be a slam dunk with the Sharks?
DO THE SHARKS BITE? Daymond thinks Dave is smart, slick and greedy. So he can't wait to be his partner. He wants 25% equity. Kevin offers $100k with no equity, but he wants 50 cents for every bottle sold in perpetuity. Barbara is offended by the 5% offer, but Dave wonders if she would have taken 5% of Facebook. Good point. Robert offers $60k for 10% but goes down to 5% when Mark offers 8%. This has Daymond and Barbara saying they are out. It's time for Dave to make a decision.
THE RESULT: Robert is prepared to give the entrepreneur exactly what he asked for, but Dave seems to want to do business with Mark. He asks him to go down to 6%. This has Robert feeling ignored, so he's out. Dave makes a quick call to his dad who says he can't be afraid to walk away from the deal. He wants 7%, but Mark won't budge from 8%. At the end of the negation, Dave takes the deal. Mark says, "I'm a lean, mean Clean Bottle machine."
ENTREPRENEURS: Nancy Bush and Sue Kruskopf
PITCH: My Wonderful Life
ASKING FOR: $100k for a 10% stake
BEST PART OF THE PITCH: My Wonderful Life is a company that allows you to plan and personalize your own funeral. The ladies got the idea after Nancy lost her husband five years ago. The memorial she organized had others asking how they could have a similar celebration. Nancy and Sue use Mr. Wonderful himself, Kevin O'Leary, as a sample client to demonstrate how their product works. They have partnered with a large insurance company for a plan that gives people the opportunity to prepay for their funeral. The website has been up for three years, but they haven't made any money yet.
DO THE SHARKS BITE? Mark is worried because they haven't signed an exclusive deal with the insurance companies. Kevin feels there isn't anything proprietary here along with a slew of other issues he believes to be problematic. Mark also sees problems with their business model, so he's out. Daymond, too. Barbara believes the ladies came to the tank too early. She's out. Robert follows her lead. Kevin O'Leary wants a plan in which he can make money. This isn't it. He's out which means Nancy and Sue are dead in the water.
LEARN MORE: Visit https://www.mywonderfullife.com/
ENTREPRENEUR: Michael Levin
PITCH: Business Ghost
ASKING FOR: $200k for a 10% stake
BEST PART OF THE PITCH: Michael is a top-selling author, yet no one has ever heard of him. That's because he's a ghost writer. He helps people tell their stories from behind the scenes. If people come to him with a story, his team will organize it, write it, design it, publish it and market it. He has a crew of eight writers. They can charge up to $75,000 per client which includes a run of the book. They are grossing about $700,000 this year.
DO THE SHARKS BITE? Kevin says Michael is achieving what every writer never gets: profitability. But he doesn't know if this will be a supremely-profitable business. He's out. Robert is, too. Barbara feels that Michael may be looking for someone else to run his business because he's tired of it. She's out. Daymond believes that if he invested in this business that getting his money back will end up being a mystery book. He's out. Mark worries about the future of publishing books in general. He's out. End of story.
LEARN MORE: Visit http://www.businessghost.com/main/
ENTREPRENEUR: Alashe Nelson
PITCH: EZ VIP
ASKING FOR: $150k for a 15% stake
BEST PART OF THE PITCH: Alashe has a website where people can pre-purchase a night out on the town without the fear of getting turned away from a venue. They launched the company in Miami, one of the hottest nightlife spots in the country. The business netted $90k and grossed $250k just in South Beach. EZ VIP sets prices that are locked in after purchase. Alashe says his company has secured contracts in L.A., Vegas and New York.
DO THE SHARKS BITE? Barbara can't relate to the life Alashe is pitching. She's out. Robert isn't a club scene guy either, but he likes the idea. He'll put in $75,000 if Daymond puts up the other half. He will do just that, but he wants 45% equity. Alashe turns it down right away and counters with an 18% equity offer. Daymond still wants 45% but will throw in an "A-list" artist to be the face of the brand. This has Mark jumping in. He'll partner with Daymond, but wants Robert out of the deal. Harsh. Then Kevin offers $150 for 25%. Robert offers to partner with him. Daymond counters with 30% and Kevin goes down to 20%. It's a feeding frenzy!
THE RESULT: Barbara asks Alashe who he would have the most fun with by making the deal. He makes the deal with Daymond and Mark. Looks like these three are gonna go clubbin' real soon!
LEARN MORE: Visit http://www.ezvip.com/