ENTREPRENEUR: Barbara Lampugnale
PITCH: Nail Pak
ASKING FOR: $50k for a 20% stake
BEST PART OF THE PITCH: Barbara is a mother of six daughters. She and her little ladies enjoy painting each other's nails on Friday nights. She had the idea of putting the nail polish, pads, file and remover into one easy-to-use package. So, the Nail Pak was born. It costs $3 to make a bottle and Barbara sells it for $14.99. She's invested just under $300,000 of her own money so far.
DO THE SHARKS BITE? Robert can't add any value to a product like this, so he's out. Mark knows that Barbara needs a big support team to help this product grow. He's not the guy to help her build such an infrastructure. He's out. Lori likes the product. She'll give Barbara the $50k but wants 51% of the company. She vows that this product will sell out on QVC. She also promises to treat her product as if it was one of her own. Kevin jumps in saying he'll also give her the $50k for a 40% stake. He says there are many people who can get her on shopping channels. With him, Barbara will retain control of her company. Kevin also asks Daymond to go in with him. All of the sudden there's a feeding frenzy.
THE RESULT: Barbara asks Lori if she'd be willing to come down to 40%. She likes the idea of throwing a big party with her daughters once the product debuts on QVC. Lori does, too. They "nail" down a deal!
ENTREPRENEUR: Paul d'Auriac & Debbie Brooks
PITCH: Debbie Brooks Handbags
ASKING FOR: $540k for a 20% stake
BEST PART OF THE PITCH: Debbie and Paul met on a blind date. They've been married for 15 years and have a baby girl. One day, when money was tight, Debbie was forced to make her own handbag. A woman chased her down in the airport because she loved her homemade bag. One thing led to another and they took their designs to a retailer. They developed a "magna-fab" concept which is a removable magnet that attaches to the front of the bag so you can change designs. The line has had success in jewelry stores.
DO THE SHARKS BITE? Kevin is concerned about the evaluation of the company. Lori has some concerns about the patents. Daymond, too. He's out. Mark likes the fact that they sell their product in jewelry stores, but he's not a purse guy. He can't add value to the product, so he's out. Robert was a little confused by the presentation, so he's out. Kevin is also out. Lori follows suit, as she thinks there are lots of patent issues. Looks like Paul and Debbie will have to find someone else to put cash in their handbags.
ENTREPRENEUR: Nicole Bilsky & Lindsay Johnson
PITCH: Trimi Tanks
ASKING FOR: $57k for a 30% stake
BEST PART OF THE PITCH: Nicole and Lindsay feature the only tank top on the market with interchangeable straps. The ladies are two Pittsburgh hockey moms who came up with their concept during an early morning practice for their sons. They are hand-making the straps at home and have sold 100 to date. The product sells for $35.
DO THE SHARKS BITE? Lori wants to know how women reacted to the product. She gets concerned when she learns that people have said they loved the product but didn't buy it. She's out. Mark likes the hustle, energy and the vision of these two ladies. He just can't offer the expertise they need. He's out. Daymond thinks the business is in too early of a stage so he's out. Robert, too. You know what that means. Only Mr. Wonderful remains. Unfortunately, he's out, too. Looks like Trimi Tanks tanked in the tank.
LEARN MORE: Visit http://www.trimitank.com
ENTREPRENEUR: Mark & Hanna Lim
ASKING FOR: $100k for a 15% stake
BEST PART OF THE PITCH: Hanna and Mark's pediatrician wanted them to use straw cups for their nine-month old daughter as opposed to traditional sippie cups that can damage teeth. They couldn't find one that worked, so they created their own safe, quality cup. It's easy to use and easy to clean. They have $30,000 in sales over four months. They could make a bigger profit if the cups were made overseas, but that's not something the Lims want to do. Their two young daughters love the cup. They've just been issued a design patent.
DO THE SHARKS BITE? Lori loves the product. She thinks it's a great idea, but it's just not her market. She's out. Kevin will give them $100K for 50%. He wants to produce the cups offshore so they can make millions. That would compromise their "Made in America" contingency. Mark wants to know about the sales agent the just signed with recently. They pay the sales agent 15%. Robert sees this deal as an obstacle. Daymond matches Kevin's offer with the contingency that they get out of the deal with the sales agent. Then the counteroffers fly. Here's what happened.
THE RESULT: Robert considers the Lims offer of 40%, but Mark says he'll take the deal before he can respond. They have 24 seconds to decide. Then Daymond says he'll go to 30%. When the 24-second clock expires, Mark sits down and Daymond goes out. Mark reconsiders his decision to go out after the Lims ask if Robert will team with him. At 40%, the Lims strike a deal with both Robert and Mark for Lollacup. Oh, baby!
LEARN MORE: Visit http://www.lollacup.com