SHARK TANK - EPISODE 205
ENTREPRENEUR: Deidrea Haysel
PITCH: Hot Mama Gowns
ASKING FOR: $30k for a 20% stake
BEST PART OF THE PITCH: Deidrea felt humiliated and insecure while in the hospital during the birth of her first child because of the ill-fitting hospital gown. She designed her own line of super-soft gowns. They have short-sleeves for blood pressure checks and a full snap-down back. These designer gowns are not for sick hospital patients. They are for beautiful, joyful moms-to-be. Deidrea has over $11,000 in sales. The gowns sell for $119 and cost about $49 to make.
DO THE SHARKS BITE? Daymond wants to know how the country can be educated about this product. Kevin O. believes this is a good idea, but it's not really a business. He doesn't want to go down that long road until it becomes one. He's out. Barbara wonders about a one-size-fits-all gown. As for Daymond, he doesn't believe Deidrea will ever be willing to learn from him. Robert thinks she's a great sales rep, but he's out. Kevin H. thinks it's too risky, so he's out. That leaves Barbara, who makes an offer of $30k for a 40% stake.
THE RESULT: Barbara is concerned about Deidrea's open-mindedness. She makes a few demands to which Deidrea initially agrees to meet. But the 40% is too high of an asking price, so Deidrea rejects the offer. That means Barbara is out. Deidrea will have to go from here to maternity on her own.
ENTREPRENEURS: Melissa & Ben Fossey
ASKING FOR: $60k for a 20% stake
BEST PART OF THE PITCH: Melissa defines the Caddyswag Golfer as your average, everyday golfer whose score is secondary to just having a good time. That's why Ben invented the Par 6 cooler which keeps six 12-ounce cans cold for 18 holes of golf. It fits in the shoe pocket of any golf bag. They are selling two Par 6 coolers for $19.99. They average $15,000 per year in sales.
DO THE SHARKS BITE? Daymond is out immediately. Guess he doesn't golf. Kevin H. doesn't think this product has enough punch to it to get folks to call in when they see it advertised on The Golf Channel. He's out. Robert thinks the product is trivial, so he's out. Barbara believes there's a need for the product, but feels it is too small to make any money back on her investment. She's out. Kevin O. is also gone, which is par for the course.
ENTREPRENEUR: Kim Nelson
PITCH: Daisy Cakes
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Kim makes her cakes from scratch using family recipes. She provides some tasty samples which go over well. Who knew sharks liked icing? You can call or order the cakes from Kim's web site. She packs them in dry ice and ships them nationwide. Cakes sell for $44.50 at a cost of $18 to make. In three months, there has been $27,000 in sales. Kim is also in the process of having her lemon curd carried in Whole Foods stores.
DO THE SHARKS BITE? The Sharks want to know how Kim will supply a huge demand, as only she and her mom are baking the cakes right now. Kevin O. thinks the cakes are great, but isn't ready to take on the task of turning this into a big business. He's out. Kevin H. doesn't think the growth will be fast enough, so he's out. Robert and Daymond can't invest in such a small business either. They're both out. That leaves Barbara.
THE RESULT: Barbara also thinks this is a small business. However, every Shark in the tank devoured Kim's cakes. She wants a dollar for every cake sold until she gets her money back. It's a sweet deal. Kim leaves the shark tank with a brand new partner. Whatever happens from here on out is icing on the cake!
ENTREPRENEUR: Shane Pannell
ASKING FOR: $40k for a 25% stake
BEST PART OF THE PITCH: Shane is a stay-at-home dad who has created a brand new kind of broom. There's a built-in scraper the pops out of the bristles with the push of a button. Shane has a patent pending. There aren't any sales yet because he's only been working with prototypes. He's asked business folks what they would pay for something like this and the prime number is usually $19.95.
DO THE SHARKS BITE? Barbara doesn't think Shane's the kind of guy who can go all the way with this thing. She's out. Robert wants to license the product, but Kevin H. thinks you can make a fortune selling it directly to the consumer. Kevin O. wants to make money through distribution. He'll give Shane $40k for 20%. He goes up to $50k when Kevin H. shows interest. Daymond offers $75k for a 33% stake to create an entire company. Kevin H. offers $50k for 25% because this product needs to go on TV. It's a feeding frenzy!
THE RESULT: Kevin O. wants to go 50-50 with Kevin H., but that is not gonna happen. Robert then teams with Kevin O. with an $80k offer for a 25% stake. Daymond and Kevin H. team up to make the same offer. Kevin O. wants to talk to Shane's wife, which causes Daymond to reduce his offer. Shane says if he goes back the original offer, they have a deal. That's exactly what happens. Here's hoping they all clean up!
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