ENTREPRENEUR: Tony Devine
PITCH: The Original Profender
ASKING FOR: $75k for a 15% stake
BEST PART OF THE PITCH: The Original Profender is the only mobile training device that simulates a basketball defender. Tony wheels out one of his devices featuring Kevin O'Leary's face on the front. Mark makes a few shots around the Profender. Tony has $25,000 in sales over the first year. The cost is $500 each, but a retail version will sell for $200.
DO THE SHARKS BITE? Mark believes there's value in the product but wonders if it's a big business. Barbara and Robert like Tony, but quickly bail as investors. Daymond likes the product, but believes $500 is too high of a price tag. He's out. Kevin feels that even the $200 version is too much. He's out. That leaves Mark, who could certainly help the product if he had the time. He doesn't, so he's out. Game over.
LEARN MORE: Visit www.theoriginalprofender.com____________________
ENTREPRENEUR: The Nardo Brothers
PITCH: Nardo's Natural
ASKING FOR: $75k for a 12% stake
BEST PART OF THE PITCH: Kyle, KJ, Danny and DJ Nardo are four brothers who have created a hand-blended organic skin care product. They developed their first moisturizer in their kitchen. They got into the skin care business after their mom helped DJ soothe some burns. They have $30,000 in sales since 2009. They project to make $4.8 million in two years. They need money for production. They even got a letter from the White House thanking them for their product.
DO THE SHARKS BITE? Kevin says that cosmetics can be a brutally competitive market. Mark thinks the guys would have been able to get a loan by now if their product was so incredible. He's out. Daymond thinks it's a little too early to invest in this business. He's out. Kevin and Robert, too. Barbara doesn't like the projection of $4.8 million in sales with no justification of how to get there. She also doesn't like the name of the product. But she does believe that no great entrepreneur ever succeeded without great naivety. That's why she offers the guys $75k for a 50% stake with the contingency that they be open to changing the name.
THE RESULT: The four men step away for a minute to consider Barbara's offer. After a brief huddle, they welcome her into their family. Oh, brother!LEARN MORE: Visit http://www.NardosNatural.com
UPDATE: Pork Barrel BBQ
Pork Barrel BBQ founders Brett Thompson and Heath Hall only had their products in three specialty stores before teaming up with Barbara Corcoran. Now they've opened up a Pork Barrel BBQ restaurant and their products are carried nationwide in stores like Safeway, Whole Foods and Costco. They are in over 2,000 stores in 40 states with over a million dollars in sales. Sounds like everyone has tasted success with Pork Barrel BBQ.
ENTREPRENEUR: Todd Colby Pliss
ASKING FOR: $150k for a 20% stake
BEST PART OF THE PITCH: Todd pitches a company that provides trustworthy senior citizens to provide childcare, household services and cookie-baking. He's been in business since late last year. He has about 50 grandmas available in Los Angeles. He's had $25,000 in sales.
DO THE SHARKS BITE? The Sharks learn they would only get 15% of whatever the grannies take in. Kevin doesn't think the profit margin is big enough. He also wonders what happens if grandma dies. Todd explains they have a replacement program in place. Daymond, Robert and Kevin go out early. Barbara likes the name, but it's not her type of business. She's out. Mark thinks it's too early to invest in this business. He likes it, but he's out.
LEARN MORE: Visit http://www.rentagrandma.com
ENTREPRENEUR: Rachel Mann & Mackenzie Burdick
ASKING FOR: $80k for a 51% stake
BEST PART OF THE PITCH: Sisters Rachel and Mackenzie are San Francisco-based jewelry and accessory designers. Litter was started when they made a series of successful headpieces. They expanded their jewelry to other parts of the body. Their designs have been worn by celebrities and featured in fashion magazines. They had $78,000 in sales last year. This year they are on track for $150,000. The average piece goes for $100 and cost about $2.00 to make. They just got picked up by Urban Outfitters to design an exclusive collection.
DO THE SHARKS BITE? Kevin doesn't know what to do with these two. He likes the product and the ladies, but doesn't want to work for them. Robert also doesn't want to work too hard, so he's out. Daymond says he'll give the ladies $80k for 70% of the company, but they will also get an annual salary. He'll go back down to 51% if the ladies want to run the company. Daymond will back out if they entertain other offers. Mark offers to partner with Daymond. He'll handle the website side of the business while Daymond deals with manufacturing and retail. Kevin offers them the deal they are seeking.
THE RESULT: Daymond gives them a 24-second time clock to give an answer. Barbara wants the ladies to tell him to take a walk so she can make an offer. Too late. Rachel and Mackenzie decide to partner with Daymond and Mark.
LEARN MORE: Visit http://www.littersf.com