ENTREPRENEUR: Nick Romero
PITCH: The Ave
ASKING FOR: $125k for a 15% stake
BEST PART OF THE PITCH: Nick says his business allows people to custom-create any article of clothing within minutes. You can turn any idea into wearable art from head to toe. He uses an image of the Sharks to demonstrate how their faces can decorate the exterior of a pair of shoes. They don't actually make any product until someone orders it which helps drive up profit margins. He's generated $570,000 in his first year of business with $150,000 in profit. Nick wants to put an Ave store in every city in the country.
DO THE SHARKS BITE? Daymond thinks Nick is an incredibly cool guy who is working hard instead of working smart. He's out. Robert doesn't agree with Nick's business model, so he's also out. Kevin hates retail, so he's out. Barbara follows his lead. Mark believes the most unique thing Nick has going for him is the plate that's used to do the printing. A red flag goes up for Mark when Nick says that he'd be comfortable with a six-figure salary. It would have been better if he'd said he'd be willing to live on macaroni and cheese. Mark believes there's no greater motivator than adversity, so he's out, too.
WANT TO KNOW MORE: Visit www.theavevenice.com
UPDATE: Ride On Carry On
Last season, Darryl and Randy Lenz struck a deal with Barbara for their product that instantly converts carry-on luggage into a travel stroller. The attachable seat can carry kids from 8 months to 5 years old. It then folds onto the luggage for easy storage. Sales have gone from $40,000 to half a million dollars. Barbara helped them redesign their product which has certainly taken off!
ENTREPRENEUR: Blake St. Clair
PITCH: Bark'em's To Go
ASKING FOR: $100k for a 51% stake
BEST PART OF THE PITCH: Blake has created a prepackaged meal for your pet that you can easily pack anytime you take a trip with your pooch. There are separate compartments that contain full servings of premium food portioned for different sizes and species of pets. There's also vitamin-enhanced water and a treat in two other compartments. It all comes in a cute container.
DO THE SHARKS BITE? Kevin wonders why not just fill up a few baggies of dog food when traveling with your pet. He believes there may be zero value to this idea. He's out. Mark, too. Barbara also feels like people aren't going to spend money to solve a problem that doesn't really exist. She's out. Daymond likes the idea, but he's also out. As a pet owner, Robert likes the convenience of the product as well as the packaging. But he feels it's way too early to invest. He's out, but encourages Blake to keep going with it.
LEARN MORE: Visit www.barkems.com
ENTREPRENEUR: Steve Albert, Larry Blackwell and Jason Conroy
PITCH: Brewer's Cow Ice Cream
ASKING FOR: $125k for a 15% stake
BEST PART OF THE PITCH: Brewer's Cow is a beer-infused ice cream. The ideas for flavors are only limited by the number of good beers out there. The guys want to place their product in supermarkets across the country. A barmaid serves up some samples. The Sharks make a toast before trying the tasty treat. They men have had about $5,000 in sales and say their product is going to be placed on the shelves at Whole Foods markets, but not for a huge order.
DO THE SHARKS BITE? Daymond is lactose intolerant, so he's out right away. Mark is also lactose intolerant, but he doesn't care because the ice cream is so good. Barbara doesn't like the way the guys answer questions, so she's out. Robert also wonders about their business savvy. He's out. Mark believes it would take too much of his capital to eventually make a profit. He's out. Kevin, too. Looks like these ice cream makers just got frozen out of the tank.
LEARN MORE: Visit http://www.thebrewerscow.com
ENTREPRENEUR: Arlene Battishill & Desiree Estrada
PITCH: GoGo Gear
ASKING FOR: $300k for a 15% stake
BEST PART OF THE PITCH: The ladies enter the tank on a couple of cool motorcycles. They have a line of fully-protective fashionable safety gear for people who ride scooters and motorcycles. They have $172,000 in sales for the year and are in 25 retail stores. They want the money to go to Europe where there are so many more registered riders then there are in the U.S.
DO THE SHARKS BITE? Mark feels that the idea of going to Europe is a horrible one, as you need to grow your business at home first. Daymond feels that the ladies have valued their company way too high. Kevin agrees, so he's out. The remaining Sharks want them to reevaluate their business and come back with a different number. Desiree offers 38% equity. Mark thinks that the ladies will get crushed by any brand because there's nothing proprietary. He's out. Barbara follows his lead. Robert doesn't believe Arlene and Desiree are very focused, so he's out. That leaves Daymond.
THE RESULT: The ladies step away to discuss bringing up their offer to 50% equity. While they were out, Robert agrees to partner with Daymond for more control of the company. The ladies offer 55% which Robert can't go for. They go to 65%, but Robert still can't invest. The good news is that Daymond is in. Gear up, ladies! You have a brand new partner.
LEARN MORE: Visit http://www.gogogearla.com