ABC has renewed Shark Tank for a second season to air sometimes in early 2011. Although the season is smaller then last with only 8 episodes its still better then nothing.
All the Sharks will be returning this season, real-estate mogul Barbara Corcoran, infomercial pioneer Kevin Harrington, technology expert Robert Herjavec, fashion owner Daymond John and financial expert Kevin O’Leary. Comedian Jeff Foxworthy will join the Sharks for 3 episodes, adding a little mainstream star power to the group.
At first glance Jeff Foxworthy may not seem like a business tycoon like the rest of the Sharks but he has turned “You Might Be A Redneck If…” into an empire. Publishing over 25 books, selling 15 million records, creating a line of greeting card, owning restaurants, staring in a game show, his own brand of beef jerky, and BBQ sauce.
There is no information about casting as of yet but when it becomes available I will let you all know.
“You may be a redneck if . . . you think you are an entrepreneur because of the “Dirt for Sale” sign in the front yard.” – Jeff Foxworthy
There will be no Shark Tank this week, instead ABC will air the Hope for Haiti Telethon. This live event will bring together concerts in London, Los Angeles and New York City and live reports from Haiti.
Money raised from the telethon will be spilt evenly between the World Food Programme, UNICEF, the Red Cross, Oxfam, the Yele Haiti Foundation, the Partners in Health and the Clinton Bush Haiti Fund.
ABC will not be the only network airing the telethon, it has been reported that this commercial free telethon may be the most widely broadcast telethon ever, airing on more than 25 networks around the world.
ABC has found a time slot for the remaining 5 episodes of Shark Tank. Shark Tank will replace Ugly Betty, in its Friday 9pm time slot. Ugly Betty will move Wednesday at 9pm starting January 8th
The final 5 episodes of Shark Tank season 1 were ordered last month. The episodes are include three unaired episodes, and two episodes to be put together from already existing footage.
The Friday night slot is not traditionally a reality TV show hot spot, I do not thing we will see huge ratings for the final 5 episodes.
This week is the Shark Tank season finale, and it hasn’t been a runaway hit, ratings wise. I believe that Shark Tank is a quality show that just keeps getting better. Each week new viewers tune in and watch the Sharks sink their teeth into quality deals. Shark Tank provides entrepreneurs with needed investment and media exposure to bring their businesses to the next level. On top of that the show is entertaining, addictive, educational, and funny. I believe that ABC and Mark Burnett Productions should produce a second season of Shark Tank.
If you agree with me that Shark Tank deserves a second season than please pass on your comments to ABC by clicking this link. Once there fill out the information, select the show Shark Tank, and use the subject complement. Send your own personalized message and let them know what you think about Shark Tank. Make sure you tell them InTheSharkTank.com sent you!
If you are like me you are looking forward to tonight’s episode of Shark Tank on ABC. A new batch of entrepreneurs will pitch their business to The Sharks who will have to decide whether they will fund the business or if they are out.
This week you will notice that the set has changed, gone is the large desk replaced with leather chairs.
This is a very similar look to Dragon’s Den that Shark Tank is based on and airs around the world.
Tonight on Shark Tank:
“Episode 103″ — An entrepreneurial newbie comes to the Shark Tank with high hopes for her kitchen accessory, but her presentation is less than stellar. Will the Sharks shred her vision to pieces or will there be a Shark fight to get a piece of the idea? A passionate stay-at-home mom (Lori Lite from Marietta, Georgia) with her own line of self-published children’s books seeks much-needed funds to grow her business. Also, a father and son business team impress the Sharks with a revolutionary new musical product, but their need to control could derail the opportunity to make a fortune, on “Shark Tank,” SUNDAY, AUGUST 23 (9:00-10:00 p.m., ET) on the ABC Television Network
From the preview I have been able to pull out the following companies:
Jeff Cohen CEO of Voyage Air Guitar will present his business to The Sharks. Voyage Air Guitar holds the patent and manufactures full size guitars that fold in half for easy travel.
Shark Tank episode 2 started out with Craig French from Long Island NY and his company Crooked Jaw. Crooked Jaw is a clothing company that targets fans of extreme sports and Mix Martial Arts. Craig started the company after he broke his jaw playing rugby freshmen year of college. Craig wanted $200k for a 20% investment in his company. CJ is being sold in 10 mom and pop shops in Long Island, after attending a tradeshow they received no orders. Daymond (the founder of Fubu) said he was one in ten thousand (nothing new) although he had great energy and passion he was not willing to invest. All the sharks were out.
Robert Allison was next into the Shark Tank. Lifebelt is a device that would not allow cars to start without the seatbelt being buckled up. Traffic accidents are the number one killer in the country. Lifebelt cost around $229 installed. Robert wanted $500k for a 10% stake in the company. The sharks were wondering why he was even bothering with creating a product since he owned the patent he could just enter a licensing deal with a major car company. He was worried that it would take to long, he believed his major problem was that no one knew his product existed. Kevin H, Daymond and Barbara were all out. Kevin O offered $500k for 100% ownership of the patent, Robert countered for $1 million but for the same percentage. He turned both offers down. Personally I would have tried to negotiate for a royalty deal, but it’s not my business.
Susan Knapp was the next entrepreneur to take a dip in the tank. She was looking for $500k for a 15% stake in her company, A Perfect Pear. Her company sold gourmet food products such as jam’s. A Perfect Pear was sold in 650 stores and had sales of $700k with $100k in orders that she was not able to fill. Banks were unable to lend her the money to fill the orders because of the credit crunch. Kevin O offered $500k for 70% then Daymond offered $500k for 51%. Kevin H and Robert offered the full amount for 50%. Susan counted with 49% but The Sharks would not accept, so she accepted Robert and Kevin H’s deal. Although she gave up more than she wanted, she gained a huge amount of business experience which should help her company get to the next level.
Mary Ellen Simonsen pitched her odd product Sticky Note Holder (great name). She was looking for $100K for 20% equity in her company. Sticky Note Holder was basically a larger sticky note that other sticky notes could be posted on the side of a laptop. She was hoping to sell them for $10 each, she had no patent and had only spent $1k on the product so far. The male sharks thought the idea was useless and were all out. Barbara said it would sell on a QVC type show, but was not willing to invest. This was not a real product, it was an idea… and a useless one at that.
The last in front of The Sharks was Marc Furigay and his product Classroom Jams. Classroom Jams is an educational record label and publishing house. He was looking for $250k for 10% equity in his company. Marc is a teacher who was having a hard time relating Shakespeare to his class. He composed songs that helped his class relate to Shakespeare. The song was actually pretty good, a class set with 30 CD’s and a teachers guide would sell for $499. Shakespeare is the most taught playwright in the English language but Marc had plans to expend to different subjects. The Sharks talked about the deal together, and offered $250k and 5% royalties, but he would have to give up 100% of his company. Marc wanted to be one of the partners. Robert then offered $250k for 100% with an option to buy 49% back with the profits from the business, but there would be no royalties. Marc still wanted to have a deal with all five sharks so Robert sweetened the deal for the same price but this time lowered what he wanted to 51%. Marc rejected Roberts deal and wanted the royalties from the first deal increased to 8.5%, The Sharks said no but agreed to let him use his royalties to buy into the company and become a partner with The Sharks. This was one of the best deals of the season, I have no dough this company will be a success.
Next week:
“Episode 103″ — An entrepreneurial newbie comes to the Shark Tank with high hopes for her kitchen accessory, but her presentation is less than stellar. Will the Sharks shred her vision to pieces or will there be a Shark fight to get a piece of the idea? A passionate stay-at-home mom (Lori Lite from Marietta, Georgia) with her own line of self-published children’s books seeks much-needed funds to grow her business. Also, a father and son business team impress the Sharks with a revolutionary new musical product, but their need to control could derail the opportunity to make a fortune, on “Shark Tank,” SUNDAY, AUGUST 23 (9:00-10:00 p.m., ET) on the ABC Television Network.
Shark Tank premiered Sunday, running against NBC’s NFL “Hall of Fame Game” averaged only 4.2 million viewers. Not exactly the strongest numbers but its something to build on. (so tell your friends)
Five money hungry sharks decide weather to invest their own money into a hopeful entrepreneurs business. The Sharks of “Shark Tank” are real estate mogul Barbara Corcoran, “infomercial” industry pioneer Kevin Harrington, technology innovator Robert Herjavec, fashion icon Daymond John and financial expert Kevin O’Leary.
Tod Wilson of Mr. Tod’s Pie Factory was first into the tank, he needed money to expand his business to meet demand. Although he ran a profitable retail pie business over 50% of his business came from wholesaling sweet potato pies, he had sales of over $850,000 last year. McDonald’s is interested in carrying his product in the southern states. He was asking $460,000 for a 10% stake in his business. Barbara and Daymond offered the money for 50% of his company and Tod accepted the deal.
Darrin Johnson presented his invention called Ionic Ear. He was looking for $1 million for a 15% stake in his company. The Ionic Ear is a Bluetooth device which is surgically implanted in the ear. As expected the Sharks laughed at him, and he didn’t get any investment. I actually wonder if this was a real business because I am unable to find any reference to a Darrin Johnson or a Bluetooth device called Ionic Ear anywhere online…
The next entrepreneur was Kevin Flannery who had to mortgage his house to keep his company WiSpots afloat. WiSpots is a content delivery system (advertising) which would be set up in doctors offices allowing patients to surf the net while waiting for their appointments. He was seeking $1.2 million for a 10% steak in his business. The units cost a little over $9 thousand and the sharks were positive doctors would not pay for it. They all opted out, and encouraged him to give up his business.
Next to enter the tank was Tiffany Krumins. She was looking for a $50 thousand investment for a 15% stake in her business, Emmy, an elephant that helped deliver medicine to difficult children. Tiffany was in need of mentorship, she had no patent, no mold, and nothing much more than a idea. Barbara offered Tiffany the money for a 55% stake, which she accepted.
Last was Omar Solomon and Nick Friedman with their business College Foxes Packing Boxes. They would send good-looking girls to help pack up boxes on moving day. This business was a sister business to College Hunks Hauling Junk which sent guys to help move. Omar and Nick were only offering an investment in College Foxes Moving Boxes but the sharks wanted both. Omar and Nick asked for $1 milling for a 10% stake in both business. No one was interested, Robert counted with $250 thousand for a 10% take in College Hunks Hauling Junk and a 50% stake in College Foxes Packing Boxes. The guys were not interested.
Next week the Sharks hear a pitch from Mark Furigay an inner-city schoolteacher who has a unique way to get kids to learn. Sensing that a gourmet food business is about to make it big, Susan Knapp the owner watches as the Sharks fight it out for a piece of her business. Also, the Sharks are so impressed with a life-saving idea that an astonishing one million dollar offer is made. Will this headstrong entrepreneur accept the offer or will his ego stand in the way?
As I said last time, arrive early, make sure you fill out this application (tell them you found out about it from InTheSharkTank.com) and be prepared to answer these questions.
ABC has renewed Shark Tank for a second season to air sometimes in early 2011. Although the season is smaller then last with only 8 episodes its still better then nothing.
Shark Tank premiered Sunday, running against NBC’s NFL “Hall of Fame Game” averaged only 4.2 million viewers. Not exactly the strongest numbers but its something to build on. (so tell your friends)