ENTREPRENEUR: Taylor Gwiazdon & Jayson Sandberg
ASKING FOR: $100k for a 10% stake
BEST PART OF THE PITCH: The guys have created a cool cooler with LED lighting inside. Jayson came up with the idea while camping. He realized there were no coolers out there with interior lighting. The guys feel that their product is worth a million bucks, yet they don't have any sales, as this is just a prototype. They have three issued patents for the interior LED lighting.
DO THE SHARKS BITE? The sharks know that there are only a few people out there who make coolers. They also believe the guys need a licensing deal with one of the big companies if they are to ever get any shelf space in stores. Daymond believes the evaluation of the company is too high. He's out. Lori thinks the product is interesting, but doesn't know if there's a big need for it. She's out. Robert can set up a meeting with one of the largest manufacturer of coolers in the world. He'll give them $100k for 25% of the company. Mark advises them to accept that offer before going out. Kevin offers $100k for 33% of all royalties.
THE RESULT: When the guys ask if they can consult about the two offers, Robert says he's out. That leaves Mr. Wonderful. Taylor and Jayson take his deal. They are now ready to light up the cooler world.
ENTREPRENEUR: Dave Alwan
PITCH: Echo Valley Meats
ASKING FOR: $300k for a 20% stake
BEST PART OF THE PITCH: Dave's meats specialize in making quality, old-fashioned meats fresh from the farm. He gives the sharks some samples of his product. Everyone feels like the meats are very tasty. Dave did $1.25 million in sales last year. He's been working by word-of-mouth in his home of Peoria, Illinois.
DO THE SHARKS BITE? The sharks worry because there's a low profit margin in this business. Kevin thinks Dave wants to use his money to experiment in marketing. Robert worries about the fact that he's never heard of Dave before. Mark believes Dave came in unprepared to tell him why eCommerce is the way to go. He's out. Robert is also out, but he will take more sausage. Kevin thinks the product is spectacular, but doesn't see an opportunity to make money. He's out. Daymond is not typically a meat-eater, so he's out. Lori thinks Dave will make it eventually, but she can't see getting a quick return on her investment. She's out. Dave created a feeding frenzy with his fine meats, but left the tank without a deal.
LEARN MORE: Visit http://www.echovalleymeats.com/
ENTREPRENEUR: Colin Grussing
ASKING FOR: $100k and a 15% stake
BEST PART OF THE PITCH: Colin has created a full body costume the covers you completely including your entire head. He says that if you wear a RootSuit, you'll lose your inhibitions and surely be noticed at sporting events. There's even a RootSuit-wearing shark swimming around the tank. Last year, Colin made $525k in sales with $140k in profit.
DO THE SHARKS BITE? Robert knows that Colin created the market, but there's no way to distinguish his product from all the competitors that have popped up. He's out. Lori also fears the competition problem, so she's out. Kevin doesn't believe this business will make him lots of money, so he's out. Daymond offers $100k for 50% of the company. Colin still hasn't heard from Mark.
THE RESULT: Daymond feels that Colin waited too long before accepting his offer. He's out. That leaves Mark, who thinks that Colin doesn't need a partner to be successful. He's already doing well all on his own. Mark is out, but he's rooting for Colin. Daymond also believes he'll do well solo.
LEARN MORE: Visit http://www.rootsuit.com//
UPDATE: The Coop
Juliet Boydstun and Lucinda Lent created a kids' place that they could enjoy as much as the children do. The Coop is filled with modern toys for the kids and a cappuccino bar for the parents. They made a deal with Barbara to expand their business. They've gone from $350k in sales to being on track to hit a million bucks. They are expanding their franchises all over the country and launched a party-to-go Coop business.
ENTREPRENEUR: Rusty Allen
PITCH: Gobie H2O
ASKING FOR: $300k for an 10% stake
BEST PART OF THE PITCH: Rusty realized he was spending more money on single-use water bottles than he was on the gas he was putting in his car. That's why he created the most advanced filtered water bottle on the market. His filter can clean even dirty water. Rusty says his flex-flow technology allows for a different way of filtering water than the other products out there. His online sales have hit $285k over 17 months.
DO THE SHARKS BITE? The sharks don't believe there's anything special about this product. Lori is especially critical. She believes there's too much competition out there. She's out. Kevin believes the evaluation of the company is too high. He's out. Mark thinks Rusty should have stressed the coolness of his design. He's out. Robert thinks Rusty is going to get crushed because of the business he's in. He's out. That leaves Daymond.
THE RESULT: Daymond offers Rusty $300k for 40% of the company with the contingency that they get the product into a big box retailer. Rusty calls his business adviser for advice on the offer. He wonders about bringing in Mark and Lori in on the deal, but Daymond wants to do it alone. Rusty accepts the offer and believes the other sharks are going to regret not being a part of the deal.
LEARN MORE: Visit http://www.gobieh2o.com/