ENTREPRENEUR: Marian Cruz
PITCH: Inventor of the Turbobaster, a battery-operated cooking device that siphons juice, has a silicone basting brush and an injector tip for marinades.
ASKING FOR: $35K in return for a 35% stake.
WORST PART OF THE PITCH: Marian reveals she doesn't yet have a working prototype of the Turbobaster. Things go further south for her when she says she has no idea what the estimated manufacturing costs would be for the product.
THE SHARKS BITE WHEN: Despite not knowing her numbers, they still find her to be charismatic. Kevin Harrington, who has experience selling products through infomercials, offers up the $35K for a licensing deal with a 2% royalty. Daymond offers $40K for only 51% of the company and a 2% royalty.
RESULT: In the end, Marian opts for Kevin and his selling-on-TV expertise.
WANT TO KNOW MORE: Visit www.turbobaster.com/.
ENTREPRENEUR: Brian Parks, from Eugene, Oregon.
PITCH: Creator of Chopstick Art, which recycles chopsticks and turns them into wine bottle holders and fruit baskets.
ASKING FOR: $100K in return for a 10% stake.
BEST PART OF THE PITCH: Through his research, artist/environmentalist Brian discovered that 25 billion chopsticks are thrown out each year. He explains that he came up with the concept for the art after living in China for six years.
DO THE SHARKS BITE? Despite thinking he's a nice guy, all five Sharks determine that he's offering a "nice-to-have" product rather than a "gotta-have" one. They all pass on investing in Brian's business.
WANT TO KNOW MORE: Visit www.chopstickart.com/.
ENTREPRENEUR: Lori Lite, from Marieta, Georgia.
PITCH: Creator of the Stress Free Kids line of books, aimed at calming children down. She's looking to grow awareness about her self-published materials.
ASKING FOR: $250K in return for a 20% stake.
BEST PART OF THE PITCH: Lori explains that it used to take her two hours to put her hyperactive son to bed each night. She turned her stress-management techniques into the line of children's books. Daymond says she's a star.
THE SHARKS BITE WHEN: She moved 30,000 units last year, working out of her kitchen. Kevin O'Leary offers $250K, but wants 100% of the company. Daymond offers $250 for 51%, and Barbara offers the same amount for 50%.
RESULT: Lori accepts Barbara's offer.
WANT TO KNOW MORE: Visit www.stressfreekids.com.
UPDATE: Barbara Corcoran's investment in Lori D. Lite's children's books publishing company, Stress Free Kids has been lucrative. Lori's book, The Angry Octopus, has become one of Amazon's top sellers and three additional titles are now sold in Border's bookstores nationwide. [break]
ENTREPRENEUR: Ken Bradford
PITCH: The 50 State Capitals deck of instructional flashcards. He has a prototype, but wants to turn his idea into a business.
ASKING FOR: $155K in return for a 10% stake.
THE PITCH GOES SOUTH WHEN: Ken admits he's had only one sale.
DO THE SHARKS BITE? No. They're quick to thank him for stopping by and get him out of the room.
WANT TO KNOW MORE: Visit www.sharpestkidontheblock.com/.
ENTREPRENEUR: Jeff Cohen and his son Josh.
PITCH: The Voyage Air Guitar, designed to fold in half and fit into a backpack or an overhead compartment on an airplane. They need capital to build more units.
ASKING FOR: $500K for a 5% stake. And you just know the Sharks won't be having that!
BEST PART OF THE PITCH: Jeff says he owns the patent for the folding hinge.
THE SHARKS BITE WHEN: Jeff says he's sold 800 units already this year, for a sales total of $400K. Kevin O'Leary offers $500K for 51% of a company that owns his patent. Kevin Harrington goes in on that deal, offering to put up half the cash and bringing his expertise with TV infomercials to the table.
RESULT: Jeff and Josh decline the offer. Kevin O'Leary responds, "I'm stunned of your greed. You're a human tragedy. You're dead to me when you say no to my deal."
WANT TO KNOW MORE: Visit www.voyageairguitar.com/.