PITCH: Addison's Wonderland
ASKING FOR: $90k for a 20% stake
BEST PART OF THE PITCH: The ladies have created a unique, versatile line of children's bedding. Brittany didn't like what was out there as far as decorative patterns when it came time to do up her daughter Addison's room. So she created her own line and partnered with Brooke. They have a website where customers can build an entire collection. They've sold $130k in a year. The average order size is between $800 and $1,200.
DO THE SHARKS BITE? Lori and Mark differ as to what business strategy the ladies should take on. She feels they need to bring their price down to cater to the masses. He believes they should continue to cater to those who can afford their high-quality product. Robert doesn't think he can offer any value to this product, so he's out. Lori reaffirms her stance that she likes products that are affordable to the masses, so she's out. Daymond doesn't think the ladies need the sharks. He's out. Kevin doesn't think there's anything proprietary here. He's out. Mark believes there's a market here, but he wonders if he'll get a return on his time. He also thinks the ladies don't really need him, so he's out.
ENTREPRENEURS: Steve Maloney and Steven Kirkpatrick
PITCH: Muddy Water Camo
ASKING FOR: $150k for a 5% stake
BEST PART OF THE PITCH: Steve believes they have created a new kind of camouflage that he feels will revolutionize the hunting industry. Steven has been a professional wildlife photographer for over 30 years. He knows how important proper camouflage is in his line of work. The guys teamed up to create a product that helps them truly become part of the great outdoors. They have $150k in sales so far in the year.
DO THE SHARKS BITE? All the sharks have trouble with the evaluation of the company. Robert doesn't believe it's worth $3 million so he's out. Lori and Daymond follow his lead. Mark doesn't like the fact that there are other investors involved. He's out. Kevin thinks the guys need to license their product. He'll give them $150k for a 20% stake.
THE RESULT: Steve says they aren't going to take an evaluation lower than what they already have. This has Kevin saying he's out, too. The duck-hunting duo thinks the sharks are birdbrains for not investing in their company.
UPDATE: Liquid Money
In Season Three, Pat McCarthy turned down an offer from Daymond John for his fragrance line that actually smells like money. Since his appearance in the tank, the Venetian in Vegas called to give Pat the largest order he's ever had. Sales ballooned to a million bucks in just nine months. That's the sweet smell of success.
ENTREPRENEUR: Megan Jackson Carreker & Aimee Miller
PITCH: Hip Chixs
ASKING FOR: $150k and a 35% stake
BEST PART OF THE PITCH: These two sorority sisters from the great state of Texas have created a fun, sexy denim line. Their jeans stop unsightly images like "whale tale" and "muffin top." You'll have to watch the episode if you want to know what those phrases mean. Anyway, the girls have $12,000 in sales in a year.
DO THE SHARKS BITE? Kevin says the ladies aren't making any money due to their problematic profit margin. Robert doesn't believe the one store they are in is enough for him to invest. He's out. Daymond believes they ladies should partner up with a female celebrity that may bite on their product, but he can't invest in them at this point in time. Lori thinks the ladies should design something unique and different, but jeans aren't it. She's out. Mark doesn't believe the ladies should stop what they are doing, but he can't help them. Kevin disagrees with Mark. He believes there is no chance they'll ever make it in the jeans business. He's out, too.
ENTREPRENEURS: Taylor, Brooks and Tanner Dame
PITCH: Proof Eyewear
ASKING FOR: $150k for an 10% stake
BEST PART OF THE PITCH: The three brothers from Idaho create hand-crafted eyewear from the most sustainable woods out there. They have eco-friendly frames and their family has been in the wood business for a very long time. Since no two trees are exactly alike, no two pairs of Proof glasses are either. They have $433k in sales over 12 months and they predict doubling it. People like Snoop Dogg and Beyonce have worn their glasses. They have a big order from Pacific Sunwear.
DO THE SHARKS BITE? Lori is partners with a large company that makes sunglasses, so she's afraid of a conflict of interest. She's out. Mark follows her lead. Daymond is bummed to hear that the guys don't want their product to be in a major retailer for fear of killing the brand. He's out. Kevin will give the guys $150k for a 25% stake. He also wants $2.50 per order until he gets his money back. That amount drops to a dollar after his investment is returned. Robert offers $150k for 25% with no royalty involved.
THE RESULT: Robert and Kevin bicker about the differences in their offers as the brothers make a phone call to their dad. The guys ask if either shark would be able to up their money offer. They ask Robert for $200k for 20% of the company, but Robert wants to stick with his original offer. That's not something the brothers can do. Robert is disappointed, but the brothers are proud that they stayed true to their vision.