ENTREPRENEUR: Steve Gadlin
PITCH: I Want to Draw a Cat for You
ASKING FOR: $10k for a 25% stake
BEST PART OF THE PITCH: You wouldn't know it to look at him, but Steve is quite the rapper. Through words, music and a few scary dance moves, he raps the first part of his pitch for his cat drawings. He charges people $9.95 for his drawings. $9.32 of that is profit. He posts drawings that people request on his website. He can crank out about a thousand drawings in a week. He's sold 1,200 cat pictures in three years. Steve says that he has many money-making ideas and is looking for a partnership.
DO THE SHARKS BITE? Kevin goes out immediately. Steve gets a laugh when he offers to counter. Robert is out, too. Barbara and Daymond don't even get a chance to respond. That's because Mark jumps in with an offer.
THE RESULT: Mark offers $25k for 33 percent of the business. He just wants him to say yes. Steve has one condition. He wants Mark to do one cat drawing every thousand or so. Deal! Soon, Mark and Steve are doing a dance to their new partnership. Who knew a Shark could be such a big cat lover?
ENTREPRENEUR: Dave Greco
ASKING FOR: $90k for a 40% stake
BEST PART OF THE PITCH: Dave has been selling things his entire life. His system to teach others his strategies consists of two components. The first is MiSSilLe, a step-by-step system that tells you what to say to your buyer. The second is RoadMapp, an industry-specific guide that teaches you how frame your pitch to your audience. He's looking to sell his product through a downloadable mobile application. He has $40,000 in sales in the last three months. He is in five organizations with three of them being Fortune 500 companies.
DO THE SHARKS BITE? When Dave mentions his deal with Met-Life, Robert wonders why he wants to go into mobile apps. Dave says his system is trademarked and copyrighted. He also says a startup company went from $30 million to $60 million after using his product. Daymond challenges Dave to sell him a pen. He goes out after hating the pitch. Robert thinks Dave should sell himself not an App. He's out. Kevin follows his lead. Mark wants to know if Dave will say yes if he gives him what he's asking. Dave wants to hear from Barbara first, who thinks he's going too fast. She's out. That leaves Mark, who is upset that he didn't take the deal when he offered it. He's out. This is one deal Dave didn't close.
LEARN MORE: Visit http://www.thesalespreneur.com/
ENTREPRENEUR: Rick Smith
PITCH: His Vegas Magic Show
ASKING FOR: $1.5 million for a 20% stake
BEST PART OF THE PITCH: Rick is a professional magician from Cleveland who wants to create a family-friendly magic show in Las Vegas. He'll be adding singers, dancers and a very unique juggling act among other things. Rick has Mark hold a piece of celery while he cuts it in half with a flick of a playing card. He hopes to gross $12 million a year.
DO THE SHARKS BITE? Kevin wants to know why he shouldn't just hire Rick to do his own magic show. Robert is worried that Rick won't make any money because he isn't a known brand name. Mark suggests he start in a smaller venue because Vegas is incredibly expensive. Daymond says the market is just so challenging in Vegas. He's out. Kevin feels that this is an insane risk. He's out. Mark feels Rick set his sights too high. He's out. Robert, too. Barbara thinks Rick is cute, but asked for too much too soon. She's out. Poof! Any chance Rick the magic man had of making a deal with a Shark has disappeared.
LEARN MORE: Visit http://www.RickSmithJr.com
ENTREPRENEUR: Donny McCall
ASKING FOR: $100k for a 10% stake
BEST PART OF THE PITCH: Donny's flagship product is an innovative cargo management system. He can transform a pickup truck into a bigger cargo-carrying vehicle in about 30 seconds with racks that folds out of the back bed. Donny was overwhelmed by the response he got when he took this to a trade show. He wants to do something that will help his own dreams and others, especially in the economically-depressed region of North Carolina where he lives. Donny has had $50,000 in sales in the past year, but there was no profit.
DO THE SHARKS BITE? Kevin wonders why Donny isn't going to distributors. He suggests getting cheaper distribution overseas. Donny doesn't feel the product needs a distributor if they sell directly to the retailer. He does not want go overseas. He wants to manufacture a quality product at home. Barbara thinks he's too resistant to suggestions, so she's out. Kevin can't invest either. Daymond is out as well. Robert thinks Americans can compete on a world-class scale. He gets choked up when talking about his dad who was a factory worker. He admires what Donny is doing, but he can't invest. Mark can't invest either as one of the most passionate, emotional negations ends without a done deal.
LEARN MORE: Visit http://www.invisarack.com