From interior design to personalized super heroes, there was no shortage of action in the latest episode of Shark Tank. In case you missed the action, here’s what went down:
First into the Shark Tank were Madeline Fraser, Elizabeth Grover and Beatrice Fischel-Bock, the women behind ZOOM Interiors. The ladies entered the Shark Tank seeking a $100,000 investment in exchange for 20% equity in their company. ZOOM Interiors aims to make interior design accessible and affordable by offering online design consultations and services for a variety of budgets. ZOOM users are first given a free 15-minute consultation. Then, they work with a designer to perfect their mood board and room design before they’re given a ZOOM cart with their final inventory and floor plan to complete the transformation. To date, the company has grossed $186,000, but the women will net only about $3,000 at the end of the year. The Sharks’ immediate concern is the free initial consult, but the ladies respond that they’re hoping to program their business model to take out the initial man hours. While they’re hopeful that a Sharks’ investment will help them build an app, Mark laughs off the $400,000 app quote they received. As they girls’ ship starts sinking, they offer that “they’re really young” and “they just graduated three week ago.” But for the seasoned Sharks who have seen much younger entrepreneurs succeed, their plea falls on deaf ears. They even mention their willingness to get part time jobs while working on the business, which is also met with disapproval from the Sharks. Still. real estate mogul Barbara sees something in ZOOM and offers the women $100,000 for 33%, which they accept. Deal!
Earlier in Season Six Shark Tank fans were introduced to Squatty Potty, a solution for the problem you might have never known you had. Squatty Potty aims to help with proper alignment while you well, squatty, hoping to give you an easier time at the potty. Since making a deal with Lori, Squatty Potty hit $1 million in sales in 3 days, and has now cruised past the $12 million mark since appearing on the show. Congrats team!
Next into the Shark Tank are Josh Kaplan and Tony Fayne, hoping to make a deal with their screen spray booth company, Sunscreen Mist. The guys entered the tank seeking a $400,000 investment in exchange for 15% equity in their company. Sunscreen Mist is a company specializing in spray booths that will cover users in a mist of sunscreen. The company offers both booths and spraying stations which are meant to be installed in hotels/resorts, theme parks, zoos, outdoor festivals, or other outdoor venues. The cost per use is $1-5, depending on where the booth/station is installed. The Sharks aren’t immediately impressed by the idea, but the guys continue with their pitch. The have two business models; one through exclusive distributors who buy and rent out the machines, and a second model where they work directly with large corporations (MGM Grand, for example). When Mark tries to ask more probing questions about their online marketing, the guys either skirt the questions or offer answers that do not impress Mark. With none of the other sharks seeing the sunny side of this deal, Sunscreen Mist leaves the tank without an offer.
Third into the Shark Tank is one of the strangest businesses we’ve seen in the history of the show. Dr. Christopher Sakezles entered the Shark Tank seeking $3 million in exchange for 10% equity in his synthetic cadaver company, Syndaver Labs. The “syndavers” are a near-exact replica of a human cavader, down to every muscle, bone, and organ found in the human body. In fact, Christopher spent 20 years studying tissue development in other to mimic the human body as closely as possible. The syndavers cost $40,000, as compared to a $5,000-10,000 human cadaver. However, the Sharks’ ears perk up when they learn Syndaver has $10 million in sales in the last 3 years, $5 million of which came last year. And, with sales doubling every year, Syndaver has its eyes set on a $150 million joint venture next year. Despite the business’ past success, the Sharks’ main concern is that Christopher isn’t motivated by money. By his own admission, his primary concern is the training that the syndavers are used for, which leads Lori to voice concerns that Chris wouldn’t protect her investment. Still, Robert is interested and makes an offer of $3 million for 35% and equal board representation. Christopher and Robert are able to settle an offer at 25% and the deal is done!
Last into the Shark Tank are Keri Andrews and Alesia Glidewell, hoping for a deal with their personalized action figure company, You Kick Ass. Keri and Alesia asked the Sharks for a $100,000 investment in exchange for 10% equity in their company. You Kick Ass lets users pick a body style and then upload a photo to create their custom doll. The ladies’ background in motion capture modeling, web development and marketing led them to You Kick Ass. Currently the company is not yet in market, but just finished a successful crowd-funded campaign. The dolls cost $15 to manufacture and are sold for $60. The Sharks are surprised to learn that the average customer isn’t a child or purchasing the dolls for a child, but instead is 30-45 and likely buying the doll as a novelty gift for a coworker or friend. Barbara is first to voice major concerns, as she simply doesn’t believe the dolls resemble the Sharks and that the face/body coloring isn’t well matched. However, Robert makes an offer of $100,000 for 25%, despite seeing the challenges of the company. Kevin makes the next offer of $100,000 for 5% equity, and he wants a $10/doll royalty until he’s recouped his investment, and then a $2.50/doll royalty in perpetuity. Mark makes the last offer of $100,000 for 10%, and he’s up to his old tricks when he demands an answer to his offer immediately. With Mark’s offer being exactly what the women had asked for, it’s an easy “yes!” and the deal is made with Mark!
What did you think about the businesses in the Shark Tank tonight fans? Let us know in the comments!