ENTREPRENEUR: Ivori Tennelle
PITCH: The Swilt
ASKING FOR: $30k for a 35% stake
BEST PART OF THE PITCH: The Swilt is a comfy outfit that combines a sweatshirt and a blanket. It can be worn as a normal sweatshirt in its "on-the-go" mode. Then you can pop apart two snaps on the front to cover your legs in its "head-to-toe" mode. There's a foot pocket lined in water-resistant nylon. Ivori has only sold 100 to date at local marketplaces, but hopes to get the word out through website optimization.
DO THE SHARKS BITE? Mark thinks the design makes people look like a 13th Century monk, so he's out. Guest Shark Lori Greiner says that the market for a product like this is completely saturated. The Swilt is just another iteration of the Snuggie. She's out. Robert suggests that she go after Daymond for backing just before he bails. Kevin doesn't think the outfit is attractive. He's out. Daymond believes Ivori has a lot of drive, but he just can't warm up to the Swilt. He's out leaving Ivori free to cozy up with other investors elsewhere.
LEARN MORE: Visit http://www.theswilt.com____________________
ENTREPRENEUR: Shelly Ehler
PITCH: Show No
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Shelly brings her sons Max and Clark into shark-infested waters to help demonstrate Show No. It's a towel that is designed like a poncho so that people can change out of their wet bathing suits without anyone seeing. Shelly has her boys hand out custom-made towels to the Sharks. She patented the product and had the idea to showcase it at water parks. She has accounts with LegoLand and Six Flags Magic Mountain in California, but she only has $15,000 in sales.
DO THE SHARKS BITE? Kevin sees this as a seasonal business. He doesn't find that attractive as an investor, so he's out. Robert loves Shelly's passion. He's not as excited about the product as he is about her. He's out. Mark worries that Shelly may not be able to make a big meeting because she's a family woman. Shelly counters with the declaration that she has the full support of her family. Daymond offers $50,000 for a 50% stake. Lori likes Shelley so much that she writes her a check right there for the $50,000 for a 25% stake. Daymond counters by lowering his equity to 20%. Then Mark jumps in with a $75,000 offer with a 25% stake. Daymond and Lori also go up to $75k.
THE RESULT: Shelly steps out to have a chat with her husband as the Sharks have an intense discussion amongst themselves. When Shelly returns, she follows her heart to strike a deal with Lori. Outside of the tank, Shelly may need to use her towels to dry the tears of joy she shares with her family.
LEARN MORE: Visit http://showno.com
ENTREPRENEUR: Kelly Chaney
PITCH: Puppy Cake
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Kelly developed a canine-friendly cake mix that is safe for dogs to eat. She's had over $80,000 in sales over four years. She sells to about 150 retailers with some being international. She's also been featured in many dog-friendly magazines.
DO THE SHARKS BITE? Kevin thinks it may be too much of a chore to ask a person to bake a cake for their dog. He forbids her to continue with this venture. He's out. Robert thinks this a novelty product that he can't get behind. He's out. Lori also bails. Mark actually likes the product, but doesn't think she's committed enough to it. He's out. Daymond follows his lead. Lori just learned that it's tough to sell a puppy product to a shark.
LEARN MORE: Visit http://www.puppycake.com
ENTREPRENEUR: Eric Corti
PITCH: Wine Balloon
ASKING FOR: $40k for a 30% stake
BEST PART OF THE PITCH: Eric has created a product that will preserve wine inside the bottle after it's opened. The balloon inflates inside the bottle to remove the air from being in contact with the wine. Eric has a patent pending. He's invested $65,000 and has sold over 700 units at a $22.00 retail price.
DO THE SHARKS BITE? Kevin offers $40k but wants to go with Eric to an outside company to replace their product with this one. He wants a royalty deal where he gets a 30% stake in what they make in perpetuity together. Lori doesn't believe Eric should license the product. She feels he should go directly to the consumer. She wants to buy him out for $500k to own the company. Mark offers to partner with Lori to up the offer to $600k for the business. Eric wants a 2% royalty which has Mark going out. Robert is out, too. Daymond follows suit. Mark comes back in with Lori, but the deal is now for $400k.
THE RESULT: Eric's hesitation cost him $200k, but a deal for $400k still isn't bad. Lori and Mark buy his company for that price. Eric and now go home to celebrate with a nice bottle of wine. Hopefully, he kept at least one Wine Balloon for himself.
LEARN MORE: Visit http://www.wineballoon.com