ENTREPRENEURS: Erica Cohen & Lori Barbera
PITCH: Baby's Badass Burgers
ASKING FOR: $250k for a 30% stake
BEST PART OF THE PITCH: The ladies have a unique bright pink mobile food truck that sells gourmet burgers served by a fun, friendly and attractive staff. Their motto is, "Come for the burgers, stay for the buns." The meat-loving sharks love the burgers. The ladies want the money to open a real brick and mortar restaurant. They've made $815k over three years.
DO THE SHARKS BITE? Kevin says operating a store in a physical location costs hundreds of thousands of dollars. He thinks they should continue with the truck business. Mark also thinks they should follow the money. The rest of the sharks agree. Robert says none of their data works in a brick and mortar business. He's out. Barbara feels like the ladies are looking to escape what they are doing now. She's out. Mark sees the value and constraints of the truck. He doesn't feel their numbers work for a restaurant. He's out. Kevin feels the ladies have charbroiled a great idea. He's out. Daymond was ready to give them the cash showed any sign of flexibility about not opening a restaurant. That never happened. He's out. The ladies leave the tank without a well done deal.
LEARN MORE: Visit www.babysbadassburgers.com
ENTREPRENEURS: James Lavitola & Brian Pitt
PITCH: Track Days
ASKING FOR: $5 million for a 34% stake
BEST PART OF THE PITCH: Mark is out almost immediately. As soon as he hears that "Track Days" is a full-length action film, he bails. James and Brian hand out popcorn and candy before showing a movie trailer. It's all graphics, no actors. The guys say they are putting together a package where they won't spend a dime until they lock down foreign markets and product placement deals. They don't have a script or talent attached for their motorcycle racing movie hopes.
DO THE SHARKS BITE? Daymond had a bad experience producing a movie. He's out. Kevin feels it's a horrifically bad idea. He's out. Barbara follows his lead. She won't let her son ride a motorcycle, so why would she part of a movie about them? That leaves Robert, who doesn't feel North America loves this particular sport of motorcycle racing. He can't invest in something where all the risk is on him. James and Brian leave the tank without a movie deal and much search for some new Executive Producers.
LEARN MORE: Visit http://www.trackdaysthemovie.com
ENTREPRENEUR: Mary Beth Lugo
ASKING FOR: $300k and a 20% stake
BEST PART OF THE PITCH: KaZam is a balance bike that is revolutionizing the way kids learn how to ride. The bike doesn't have pedals, so it allows kids to learn balance at their own pace before transitioning onto a real bicycle. The concept has been popular in Europe for some time. She has a patented frame design with a footrest area on the bike. They have $1.4 million in sales in a little less than three years.
DO THE SHARKS BITE? Kevin thinks Mary Beth needs to increase her profit margins significantly for him to get his money back. He's out. Robert is afraid that Mary Beth is going to steer away from what she's doing well. He's not the person to join her on this journey. Daymond fears he won't get his money back. He's out. Barbara doesn't think Mary Beth has the fire to step on the throat of her competitors. Mark wants to find out just how much killer instinct she has. He offers her $300k for 40% of the company if Mary Beth can convince Barbara to go in on the deal. She has 24 seconds.
THE RESULT: Mary Beth does a quick pitch on her business and herself. At the end of the speech, Barbara is sold. She's in. But Mary Beth feels 40% is too high. She counters with 32%. Mark and Barbara share a knowing look with each other. They agree to the deal. Mary Beth pedals out of the tank with two new business partners.
LEARN MORE: Visit http://www.kazambikes.com
Cheryl Rigdon failed to make a deal for the Spatty and the Spatty Daddy. They are money-saving tools that help the consumer get every last drop of products that come in bottles or containers. Since her appearance in the tank, she's sold out of product and has reached $32k in sales. She's made a prototype into a real product. Daymond worked with Cheryl to help her get a licensing deal. The future looks bright for the Spatty and the Spatty Daddy.
ENTREPRENEURS: Tom Kanemoto & Lance Yabut
PITCH: Pink Shutter Photobooths
ASKING FOR: $300k for an 10% stake
BEST PART OF THE PITCH: The guys have taken the fun and nostalgia of the old-fashioned photo booths to a whole new level. They can fit lots of people into their spacious booths with lots of props to make for lots of interesting pictures. The sharks take lots of shots of themselves inside the booths. Tom and Lance pulled in $190k in their first year.
DO THE SHARKS BITE? Kevin doesn't feel the company is worth $3 million because there's nothing proprietary about it. He's out. Mark thinks the price for their service leaves their competitors an opportunity to come in and undercut them. He's out. Daymond doesn't like the fact that the guys are taking a big salary for themselves. He's out. Robert can't afford to give the guys the time they need. He's out. That leaves Barbara, who believes in what the guys are doing. If she invests, she wants a salary, too. She offers $300k for a 33% stake and an equal salary distribution. This deal has Mark considering coming back in.
THE RESULT: Mark offers $300k for a 33% stake and an equal salary distribution once sales reach $1 million. He will also bring them into the concert world. Barbara offers them a real working partner. The guys propose that the two sharks partner for $300k with a 25% equity and no salary. Barbara doesn't like that the deal got worse. Mark doesn't like the percentage either. He's out. Now the guys are forced to accept Barbara's original deal. It's not picture perfect, but it's better than nothing.
LEARN MORE: Visit http://www.thepinkshutter.com