In The Shark Tank

(sorry for the delay)

First into the tank was Marian Cruz with her business Turbobaster. Her product is a battery-operated baster that is also a flavor injector. She wanted 35k for 30% but had no working prototype and no idea what the manufacturing costs would be. Marian was unable to prove their was a market for her company, Kevin O, Barbara and Robert were all out. Kevin H offered 35k for 100% and 2% royalties. Daymond also offered 40k for 51% and 2% royalties but latter upped his offer to 50K. Marian accepted Kevin H’s offer

Brian Parks entered the tank with his business Chopstick Art looking for 100K for 10%. His business recycles chopsticks and turns them into art, his best selling item was a foldable basket. Brian has invested 100k into the business with sales of 500k, with 45k net profits. The sharks didn’t invest.

Lori Lite of Stress Free Kids presented her line of books that help children deal with stress and go to bed. She was looking for 250k for 20% of her business. Lori has sold 30,000 units, which is around 180k in sales and 50k in profits. When she first started out she sold two of her books to a publisher, but found that the publisher didn’t promote her books enough. Kevin H was first to offer 250k for 100% but was turned down and out. Daymond offered 250k next for 51% and Barbra offered the same amount for 50%. After calling her husband she countered with 40% but the sharks would not budge and she accepted Barbar’s deal.

Next into the tank was Ken Bradford with his business 50 State Capitals in 50 Fun Minutes. He was looking for 155k for 10%, he had only sold one set of cards so everyone was out.

Father and Son Jeff Cohen and Josh of Voyage Air Guitar were looking for 500K for 5% of their business. Voyage Air Guitar is a guitar that folds in half at the neck and stays in tune. The own the patent and have sold 800 units so far, they are not able to keep up with demand. There sales are around 400K but they are losing money. The Sharks asked what they would sell the patent for and they said 1 million for 49%. Kevin O offered 500k for 51% of the patent. Jeff still wanted to produce the guitars while Kevin said it would be better to license the patent. Kevin has a lot of experience with licensing deals already. The best exchange of the night “Hit me with on example (taking about licensing)” says Jeff “my whole company that sold for $3.1 billion was all licensing” say Kevin O, “did you say 3.1 with a B” “Yes I did”
Kevin H jumped into the deal and said he would bring it to TV, but Jeff turned down the deal.

Beyond the great deals there was also a change in the music that made the show feel a lot more exciting.