ENTREPRENEUR: Erika Welsh & Keeley Tillotson
PITCH: Wild Squirrel Nut Butter
ASKING FOR: $50k for a 10% stake
BEST PART OF THE PITCH: The sophomore college girls from Oregon created their own homemade peanut butter in their apartment. They came up with four exciting flavors. They've sold thousands of jars on their website for a $14,000 gross and a $7,000 profit. They'll soon be on supermarket shelves throughout Oregon.
DO THE SHARKS BITE? Daymond doesn't know this business space, so he's out. Robert wants to know who is going to run this business if both of the girls are in college. He wants to know who will do this job fulltime if he gives up his money. He's out. Mark wonders the same thing. That's why he's out, too. Kevin follows his lead, as he believes the world of competitive peanut butter will crush them. That leaves Barbara, who says it would take a lot more than what they're asking for to make this a success. So she has an offer
THE RESULT: Barbara offers the ladies the $50,000 but wants 40%. Erika and Keeley counter with 35%. That's not enough for Barbara, so the ladies eventually agree to the 40%. Hopefully they'll get a lot of bread to go along with their peanut butter.
ENTREPRENEUR: Tom Callahan
ASKING FOR: $200k for a 20% stake
BEST PART OF THE PITCH: Tom says Cab20 is the brainchild of 18-year-old music prodigy Bert Hoover. Cab20 is a band that performs a song right there in the tank. They group is very good, but the deal Tom seeks does not include any publishing rights. Mark says the music business is the worst business on the planet, so he's out. Daymond had a bad experience in the music business, so he's out. Barbara likes the group, but she doesn't buy into Tom.
DO THE SHARKS BITE? Kevin likes the band, so he has an offer. He'll give them $200k for 50% of EVERYTHING. Tom says he'll go to 40% for 300k. Robert says he'll partner with Kevin. Tom and the band want $250k. That offer is rejected. Kevin and Robert won't budge, but neither will Tom. Looks like the band will have to rock on with a shark by its side.
ENTREPRENEUR: Frank Scozzafava and Adam DiSilvestro
PITCH: Mix Bikini
ASKING FOR: $50k for a 5% stake
BEST PART OF THE PITCH: Mix Bikini is the world's first interchangeable swimsuit. All of the parts are sold separately and are interchangeable so ladies can mix things up without constantly having to buy a new bikini. Each bikini part sells for $9.99 which means it would cost between $40 and $50 to create an entire bikini.
DO THE SHARKS BITE? There was some miscommunication about the initial 5% stake that was offered. It's actually 10%. The sharks let the guys know that they need to have a solid business plan in place before they can give their guidance and money. Mark is out right away. Kevin says the only entrepreneurs that ever walk out of the tank with money have a clear focus on how they'll get rich. Frank tries to explain how this will happen, but Daymond says it's not that easy. He's out. The other sharks stay at bay while Barbara makes the guys an offer.
THE RESULT: Even though the guys haven't provided any sales numbers, she does see a business with this product. She offers Frank and Adam the $50k for 25% of the business. Mark advises the guys to say yes right away, so they do.
LEARN MORE: Visit http://www.mixbikini.com
ENTREPRENEUR: Billy Blanks, Jr.
PITCH: Billy Blanks Jr.'s Dance With Me
ASKING FOR: $100k for a 20% stake
BEST PART OF THE PITCH: Billy's dad is the creator of Tae Bo. He wanted to create a fun, all-inclusive dance workout for people of all ages, shapes and sizes. He provides a sample of how his dance workout works. He has the Sharks dancing in their seats and even gets Mark out on the floor. Billy has two DVDs on the market and four more on the way. He's looking for an investor for an instructor certification program so he can train teachers for live classes.
DO THE SHARKS BITE? The Sharks want a piece of the retail business, so they want to know if Billy is willing to combine businesses. He is. Barbara wants to know why his dad isn't an investor. Billy is very diplomat in his answer. The nicest way to say it is that he's making Billy earn his money. Barbara isn't clear about the business, so she's out. Robert, too. It's not an investment for Kevin either. He's out. Daymond asks Mark if he wants to partner on a deal. It'll be $100k for a 50% stake that's contingent on a deal with the established dance music company Zumba.
THE RESULT: Billy doesn't want to hurt the uniqueness of his product by teaming with Zumba. He has a chat with his wife about the possible extension of their brand through this other company. Billy simply doesn't want to bundle his brand with another. Mark and Daymond try to convince him that's not what's happening here. Billy just can't see it though. He declines the deal and leaves the tank. Daymond actually follows him out. He convinces a tearful Billy and his wife that he will do whatever he can to help them be a success. Billy believes him. They have a deal.
LEARN MORE: Visit http://www.meettheblanks.com