Sharks invest $180,000 for 50% of Cactus Jack and Body Jac
Cactus Jack jumped into the Shark Tank first with his product Body Jac. Body Jac makes it easier to do a pushup by using rubber bands to lighten the load. Cactus Jack is not a new entrepreneur he has sold millions of dollars worth of other products. Body Jac is patented and will be produced in China for between $20 and $30 and then self them for between $89 to $120. Jack was asked why he needed the money if he has sold millions, Jack said he has filed for Bankrupts once and wants someone else to take a risk. Both Robert and Kevin O were out. Kevin H and Barbara offered 180K but wanted 50% and that Cactus Jack needed to lose 30lbs using the Body Jac. Daymond then offered 180k for 50% of Cactus Jack’s whole business and not just Body Jac. He took Barbara and Kevin’s deal and agreed to lose the weight.
Irina Block seeks 50% for 30% of Face Blok
Next up was Irina Block with her company Face Blok, which would, manufactures surgical facemasks with designs on them. She was looking for 50K for 30% of her business, the money would be used to develop the masks to make them surgical clean. Although it was an interesting idea the sharks felt it was too much of a niche market product to invest.
Sharks pass on Granola Gourmet diabetic treats
Jeff Cohen entered the Shark Tank with his business Granola Gourmet a Diabetic friendly granola bar. He was looking for 175K for 25%. Granola Gourmet came out of a personal need, Jeff is diabetic and was never able to find snack food that tasted good and didn’t make him sick. Working with his son he identified foods that would work well with a diabetic diet and that people would actually want to eat. Granola Gourmet is sold in southern California Whole Foods. He is on track to sell 90k worth of bars and is already getting reorders. He need the sharks money to expand, a few years back he had filed for bankrupts when his software company folded. Kevin O was out because of his bankrupts, and the rest of the sharks were out too.
Good Grief funeral service competitors leave Sharks cold
Ricky Farrar was next to enter the tank with her business Good Grief Celebrations inspired by her mothers death. Good Grief Celebrations is a funeral concierge that helps with funeral planning. The sharks saw no way to compete with funeral homes and were all out.
MyTherapyJournal.com owners seek $80,000 for 20% of online journaling business
Last to pitch to the sharks was Rodolfo and Alexis Saccoman and their business MyTherapyJounal.com. They were looking for 80k for 20% of their business. MyTherapyJounal.com offers a safe place to write a private online journal, you can also track your emotions, and the site is designed to help people dealing with depression. The sharks were not interested until they said that a major insurance company was looking at using their product. Kevin O, Robert and Daymond offered the 80k for 50% but it quickly changed to 51% after they found out about the insurance company. While the brothers deliberated back stage, Kevin O asked Robert why they needed Daymond and kicked him out of the deal. The brothers countered with 49%, Daymond still wanted in so her offered 120K for 50%. The brothers decided to go with Roberts and Kevin O’s offer because of their experience with online business.
Something I found interesting was they made a big deal about Jeff Cohen filing for bankrupts but they didn’t seem to care the Cactus Jack also lost it all… interesting.