ENTREPRENEUR: Aaron Krause
PITCH: Scrub Daddy
ASKING FOR: $100k for a 10% stake
BEST PART OF THE PITCH: Aaron has a cute scrubbing tool that changes its texture by adjusting the water temperature that saturates it. Basically, it's a scrubber that goes from hard to soft to attack whatever job you may need it for. The smiley face design allows you to deep clean glasses and silverware easily. Aaron's been on QVC three times already and they've increased his order every time. He's had over $100,000 in sales in over four months. He has one patent and two more pending. He needs the money to increase manufacturing. He's looking for a partner to get into more retail stores.
DO THE SHARKS BITE? Robert doesn't think the product has a retail appeal. He's out. Mark likes the product, but he can't get involved with a product with sales that rely on QVC. Aaron says he has 3,000 stores lined up to sell his product. Still, Mark is out. Kevin offers $100k for 50%. Daymond offers $50k for 15% if he gets Lori to partner with him. Lori doesn't need Daymond. She offers $100k for 30%. This has Kevin offering $100k for a royalty of 50 cents per unit until he gets his money back. Then he gets 10 cents for every unit sold in perpetuity. Daymond then offers $125k for 25%. Lori drops her equity offer to 25% and ups the money to 150k then $200k after Daymond raises his offer, too. It's a feeding frenzy!
THE RESULT: Kevin drops his royalty request to 7.5 cents per unit, but Aaron likes Lori's offer. Still, he thinks the equity amount is too much. Aaron asks her to come down to 20%. Lori agrees. These two are all set to clean up with the Scrub Daddy.
ENTREPRENEUR: Matt & Meg Meyer
PITCH: The Bear & The Rat (cool treats for dogs)
ASKING FOR: $125k for a 20% stake
BEST PART OF THE PITCH: Matt and Meg have come up with an ice cream treat that's safe for dogs. Flavors include "Bacon Peanut Barker" and "Banana Peanut Barker." The Bear and the Rat are nicknames for their cute dogs. It's a human-grade treat, so you can eat it. Too bad it tastes better to dogs than it does to sharks. Robert lures one of the dogs over to his chair while Meg details a deal they have brewing with Petco. Unfortunately, Robert drops the dog during the pitch. Fear not. The Rat is all right. There has been $30,000 in sales so far.
DO THE SHARKS BITE? Daymond goes out right away. Mark says they shouldn't have overvalued their company by so much. He's out. Kevin believes the category of the product is too small, so he's out. Lori loves both Matt and Meg, but she's out. Robert thinks Matt and Meg are good operators and he loves the packaging. He also loves the dogs. But he can't get past the value they attached to the company. He's out, too. Looks like a rrruff break for Matt and Meg.
LEARN MORE: Visit http://cooltreatsfordogs.com
ENTREPRENEUR: Daniel Wood & David Martschinske
PITCH: SBU (Self-Balancing Unicycle)
ASKING FOR: $300k for a 10% stake
BEST PART OF THE PITCH: Daniel and David ride in on the first and only electric self-balancing unicycle, or SBU. The product has smart sensors that will always keep you balanced. There's no pedaling involved as the product is intuitive to your movements. It can go 10 miles on a single charge. Robert and Kevin try the unicycle out for size. The guys sold their first 100 out already at a price of $1,800. They feel they can do a million bucks in profit over the next year.
DO THE SHARKS BITE? Lori loves the guys, but she doesn't feel passionate about the product. She's out. Daymond was interested until he learned about a similar product that failed. He's not willing to take a risk. He's out. Mark has fears about the overseas manufacturing, so he's out. Robert perks up when he realizes the guys have patents on the technology. He offers $300k for 33%. Kevin wants to join him on that offer.
THE RESULT: Daymond says the guys have an offer from two sharks when it looked like they were all going out. He suggests they take it. Daniel and David fasten their unicycle helmets and take the deal with Robert and Kevin before happily wheeling out of the tank.LEARN MORE: Visit http://www.focusdesigns.com
ENTREPRENEUR: Shelton Wilder
ASKING FOR: $60k for a 20% stake
BEST PART OF THE PITCH: Shelton is bringing back the slip in a modern way with a simple, elegant, flirty design. She has two models in the tank to demonstrate all the different ways her product can come into play. Her Shemie is made for comfort. She has a verbal agreement with Nordstrom's. However, the sharks are confused by this entrepreneur's dealings with a company she was part of before. Shelton finally admits that she's been sober for two years and eight months. The company had a lot of bad memories for her. She didn't want to use the old name because she wanted a fresh start. Shelton has worked really hard to get back to a product she believes in so much.
DO THE SHARKS BITE? Kevin thinks Shelton's evaluation of her product is insane, so he's out. Lori thinks she can make it on her own without them. She's out. Robert thinks it is too early to invest, so he's out. Mark is not really into fashion, so he's out. Daymond loves Shelton's passion, but this is an area of fashion he doesn't know much about. He's out, too. It was an emotional journey inside the tank. No deals were made, but kudos must be given to Shelton for the comeback she's made not just with her business, but with her life.
LEARN MORE: Visit http://www.theshemie.com