SHARK TANK - EPISODE 207
ENTREPRENEUR: Les Cookson
PITCH: Carsik Bib
ASKING FOR: $30k for a 15% stake
BEST PART OF THE PITCH: According to Les, 58% of the kids out there get carsick. He gives a demo of this in unfortunate occurrence using split pea soup and corn. Yum! The Carsik Bib gets strapped around the child with what looks like a feedback attached to the front. Actually, it's probably better to call it a reverse feedbag. The Sharks are amused by this presentation. Jeff Foxworthy says, "The only thing I think is worse than vomiting is riding around with a bag of vomit on your neck."
DO THE SHARKS BITE? Daymond can't cough up the $30,000. He's out. Kevin O. says investing in barf bags won't look good on his portfolio. He's out. Jeff worries about a liability issue. It's a question of having a child with something like this around his or her neck while you're not in a position to help them. Robert worries about this, too. They're both out, as is Barbara. Les isn't discouraged because you can't keep a good man down. And with kids, you can't always keep food down either.
ENTREPRENEUR: Chris Spencer
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Chris says there are 14 million kids playing football today. Some of them are dying due to lack of hydration. Hydromax is a product that allows them to get water in between plays on the field.The product is an impact-resistant hydration system that attaches to shoulder pads with Velcro. It costs $8.50 to manufacture it and sells for $49.99. Chris had $100,000 in sales in 2007.
DO THE SHARKS BITE? Kevin O. thinks he needs a large distributor to take on this product while he collects a license fee. He doesn't want to take on that challenge. Daymond thinks the evaluation of the business is way off, so he's out. Barbara bails, too. Robert thinks the product is very clever, he just thinks Chris needs to sell it himself. That leaves Jeff.
THE RESULT: Jeff knows Chris doesn't have the time to run this business. He'll partner with him 50-50 and put up the $50k. He thinks it's a great idea because once one kid on a team has it, everyone will want it. Chris takes the deal. Touchdown!
ENTREPRENEUR: Andy Humphrey
ASKING FOR: $90k for a 20% stake
BEST PART OF THE PITCH: The pollution a regular gas lawn mower lets loose on the environment is terrible. Andy says using a lawn mower for just one hour is like driving 10 cars. The EPA is getting ready to regulate emissions on lawn and garden equipment. That's why Andy invented the world's most eco-friendly lawn mower. It's a push mower that cuts the grass. The clippings drop behind the blades, which never need to be sharpened.
DO THE SHARKS BITE? Daymond is lost. He believes Andy is presenting them with a product that already exists. Kevin O. suggests this is a bait-and-switch. Robert believes this a branding play. Kevin O. agrees. The only value of this product is in the name Ecomower. None of the Sharks think this product will ever be able to mow down the competition that's already out there. Everyone is out. As they say, the grass is always greener on the other side of the tank.
ENTREPRENEURS: Stuart & David Pikoff
ASKING FOR: $500k for a 10% stake
BEST PART OF THE PITCH: The Pikoff brothers claim to have the first and only mobile entertainment company of its kind. They have specialized vehicles containing 4D movie theaters and mobile video game theaters. There are all kinds of other fun products like a giant robot (which Robert personally tests) and Booger Wars (we won't go into detail on that one). They have over 140 franchises sold in 28 states. They do over 2,000 parties and events every month. They did $3.5 million in gross sales last year and are currently up 65%. Franchisees pay them $100k plus a 6% royalty per month.
DO THE SHARKS BITE? The brothers net $125k on that $3 million-plus they mentioned. They Sharks don't believe the business is worth the money they are evaluating it at. Daymond and Barbara are out immediately. Jeff admires the fact that these guys make money off boogers. But it's hard for families to shell out the cost of this product in this economy. He thinks it'll take too long to get his money back. He's out. Robert thinks the need to constantly develop new product is not a good business model. He's out. That leaves Mr. Wonderful.
THE RESULT: Kevin O. offers the $500k for a 51% stake. He wants control of the company. The Pikoff brothers take a minute to discuss the offer. They counter with $500k with 25% stake. Kevin O. can't get there. The only thing that speaks to him is money. The deal does not get done, but that doesn't stop him from taking the robot for a test drive.