ENTREPRENEUR: Jim Pittman
ASKING FOR: $250k for a 15% stake
BEST PART OF THE PITCH: AirBedz is the original truck bed air mattress. The cutout design allows the mattress to go around, and more importantly, go on top of the truck's wheel wells. This creates a sleep area that utilizes the entire back of the truck. It's rugged and durable. It's easy enough to inflate and deflate from a power source that uses a rechargeable battery. Jim had $210,000 in sales last year and may double it by the end of this year.
DO THE SHARKS BITE? Kevin believes this is a small niche market. That's why he believes Jim has such a big inventory at this time. He has no interest in investing in this product. He's out. Mark believes there's a market for this product, but Jim needs to get out there and sell it. He's out. Robert also believes that Jim hasn't proved this is the great product yet. He's out. Daymond follows his lead. Barbara is on the fence because she doesn't believe Jim is a good salesperson. She offers $250k for 50% of the company. She also wants Jim to get out of the way as a salesperson.
THE RESULT: Jim makes a counteroffer. He's only willing to give up 25% of his company. Barbara gives him a moment to reconsider, but that's Jim's final offer. Barbara says good luck to him just before declaring she's out. Looks like Jim will have to get into bed with an investor outside the tank.
ENTREPRENEUR: Scotty Olson
ASKING FOR: $3 Million for a 20% stake
BEST PART OF THE PITCH: Skyride is a thrilling ride that moves like a roller coaster, but is powered by the person riding it. Scotty says he's going to be launching fitness, transportation and recreation into the sky and getting people of all ages and ability flying and moving faster than they could possibly ride their bicycle. He claims to be the man who brought rollerblades to the market.
DO THE SHARKS BITE? Barbara respects Scotty for the dream he has, but she just doesn't see it happening. She's out. Daymond says the product looks incredible, but he wouldn't even know where to start with it. He's out. Mark says he has no construction management expertise. He doesn't have any of that, so he's out. Robert doesn't see the large scale consumer application for the product. He's out. Kevin believes this is a bad idea, so he's out. Scotty takes the news in stride. He was looking for an angel, not a shark.
ENTREPRENEUR: Andrew Goodrum & Queenie Davis
PITCH: Boot Illusions
ASKING FOR: $100k for a 30% stake
BEST PART OF THE PITCH: Boot Illusions allow you to go from a boot to a shoe or a shoe to a boot instantly. You can unzip the boot part to get to the shoe underneath. You can also purchase additional uppers (the boot part) without having to buy an additional shoe. You can also use the uppers on shoes you already own. Queenie got a manufacturer for her other show products in Turkey. As for Boot Illusions, they don't have a large retail presence yet.
DO THE SHARKS BITE? Robert thinks this is a pretty good idea, but it's not a product that he can add value to as a non-shoe guy. He's out. Mark's not into women's fashion, so he's out, too. Kevin thinks the company is being overvalued, so he's out. Daymond will give them the $100k for 75% of the boot technology because he wants to license it. Barbara will give them $100k for 55% of the company. She claims her experience is worth that much.
THE RESULT: Barbara says Andrew and Queenie should go into the hall to call any entrepreneur she's worked with to see if they are happy. That won't be necessary. Queenie believes in Barbara. That's why she accepts the offer. Barbara is in while it appears Daymond got the boot.
LEARN MORE: Visit http://www.queengraceshoes.com
ENTREPRENEUR: Fleetwood Hicks
PITCH: Villy Custom
ASKING FOR: $500k for a 33% stake
BEST PART OF THE PITCH: Villy Custom is the new way to buy your bike. You can go to the website to customize your bike by colors and style to create the product you want. There were $129,000 in sales last year and about $250,000 is projected for this year. All sales have been online and there's been no advertising.
DO THE SHARKS BITE? Daymond thinks the bike has a great design, but this isn't an area he wants to be in. He's out. Kevin likes the fashion statement that's being made with the bike, but can't invest. Robert buys into the concept and loves the bike, but he can't get there on the $500k. He's out. Mark and Barbara agree that this is the perfect showoff bike. They decide to partner together but they want 45% of the company.
THE RESULT: Fleetwood wants to know if they'd be willing to go down to 40%. Mark suggests they split the difference and settle at 42%. Fleetwood feels like he may be giving up a little too much of the company, but still agrees to the deal.
LEARN MORE: Visit http://www.villycustoms.com