SHARK TANK - EPISODE 208
ENTREPRENEUR: Rebecca Rescate
ASKING FOR: $100k for a 15% stake
BEST PART OF THE PITCH: Cleaning a litter box is never fun. That's why Rebecca has devised a way to potty train cats. This becomes possible once the cat realizes the water in the toilet covers the scent of the waste better than kitty litter. The CityKitty seat has removable rings that you fill with kitty litter until the cat starts use the potty without them. It costs $4.76 to make and the retail price is $29.99. Rebecca has sold 40,000 units using her web site alone. She did $225,000 in sales last year and is doing $350,000 this year. She's sold $1.4 in cat training kits with no advertising.
DO THE SHARKS BITE? Robert has no interest in the business, so he's out. Kevin O. hates cats, so he's out. Kevin H. always looks for products that solve problems while having mass market appeal. CityKitty meets the criteria. He'll give her the $100k for 40% of the company. Daymond was on the fence, but he's out. Barbara offers $100k for $15% with the contingency that her TV partner will like the product enough to put it on TV.
THE RESULT: Rebecca knows Kevin H. is the go-to guy when it comes to TV deals. But 40% is way too high. She counters with a 20% offer and now he wants 25%. Barbara then offers to drop the contingency. At the end of the negotiation, Rebecca goes with Kevin H. for $100k for 20%. Here's hoping the product will be the cat's meow..
WANT TO KNOW MORE: Visit www.citikitty.com
ENTREPRENEUR: Kim Preis
PITCH: Samson Martin
ASKING FOR: $50k for a 15% stake
BEST PART OF THE PITCH: Kim designs t-shirts for pregnant women that basically tell people when the stork is arriving. The due date is front and center for everyone to see. Kim began selling the shirts in upscale boutiques. She wants to produce a more economical collection and take it to mass retailers. She's done $1.4 in sales out of her basement over six years. She has a trademark on the words "Due In" for clothing.
DO THE SHARKS BITE? Kevin O. doesn't like the fact that Kim can only sell to women who are pregnant. Robert actually likes the niche market appeal of it all. Barbara agrees. The problem is that sales have been going down over the years. Daymond says the women's clothing market is in a tough state right now, so he's out. Kevin H. is, too. Barbara isn't sold on the "Due In" appeal. She's out, as is Robert. Kevin O. feels he'd be killing money if he invested, so he's out. Here's hoping Kim can bring her baby-friendly biz back into prominence all on her own.
WANT TO KNOW MORE: Visit www.samsonmartin.com
ENTREPRENEUR: Aldo Orta
PITCH: Aldo Orta Jewelry
ASKING FOR: $180k for a 45% stake
BEST PART OF THE PITCH: Aldo has been very exclusive to royalty and celebrities with his products. Now he wants sell more affordable jewelry for the mass market. Aldo tries to unify all cultures with the design of his items. He designs everything himself, which has the Sharks wondering what happens to the business if something happens to Aldo. QVC wants $50,000 for the first order before he can do anything with them.
DO THE SHARKS BITE? Kevin H. is on the fence, but Kevin O. can't get past the fact that the business is all-Aldo. He's out. Daymond is worried that no one is buying jewelry right now. He's out. Robert thinks the price-point is too high for Middle America. He's out. And then there were two.
THE RESULT: Barbara likes the Aldo and will give half of what he's asking. Kevin H. comes off the fence to cough up the other half. Aldo leaves the tank with a jewel of a deal.
WANT TO KNOW MORE: Visit www.aojewelry.com
ENTREPRENEUR: Dominique McClain Barteet
PITCH: One Sole
ASKING FOR: $500k for a 20% stake
BEST PART OF THE PITCH: Dominique has created an interchangeable shoe where you can quickly and easily go from one look to another. She save lots of space when traveling by packing various sets of tops instead a bunch of different shoes. There are thousands of varieties. Barbara loves the comfort of the shoes. Dominique has grossed over $20 million in the last four years. She's in 2,000 stores in 30 countries. She's been on QVC five times. Dominique is a pharmacist by trade, so she fills both prescriptions and shoe orders. She went international just this year.
DO THE SHARKS BITE?Robert says he'll put in $100,000 for 10%. All Dominique needs to do is get the other four Sharks to go in on the deal to get the money she seeks. Daymond doesn't need any partners. He'll give Dominique the $500k for a 35% stake. Barbara's out, but Kevin O. offers $500k for 51% of the company. Kevin H. wants to team with Robert for 50% of the company.
THE RESULT: It is quite obvious that there's no way Dominique wants to give up control of her company. That's why she happily accepts Daymond's offer. That's shoe biz!
WANT TO KNOW MORE: Visit www.onesole.com