Shark Tank moved to Tuesday night at 8, and by the looks of the amount of twitter activity I am seeing the new time has been a big success.
Grill Charms owner Leslie Haywood asks $50,000 in exchange for 25% of business
First up was Leslie Haywood and her business Grill Charms. Grill Charms are dime-sized stainless steel charms that are placed in your meat right before grilling. This will help to separate different flavors, spices and identify what degree stake is cooked. Leslie was looking for $50,000 in exchange for 25% equity in her business. There are four different collections and opportunity to license the product to sports teams and other groups. Grill Charms are currently available in just over 100 stores and their sales were $60,000 last year.
That was enough, the sharks attacked. Kevin O was first to bite with an offer of $50,000 for 50% and 7% royalties. Kevin H was next with an offer of $50,000 for 50% and all his experience behind it. Both Robert and Daymond wanted in on Kevin H’s offer but Kevin H would only partner with Daymond. Robert would not let the offer die so he offered $50,000 for 25%, which is what Leslie, had original asked for. The sharks were jumping at this deal, fighting each other off, one of the best moments of the night.
After talking to her husband Leslie countered Kevin H and Daymond deal with 49% equity. Then came the best line of the night, Kevin O asked why she was not looking at his deal. Leslie said “I do like you, I just don’t think I can work with you.” Kevin O then offered $50,000 for 20% and 7% royalties. Leslie ended up taking Roberts deal.
Not really sure if this is the deal I would have gone for, Kevin H and Daymond offer was sure to make her a fortune. Although I am sure Roberts deal will still work out.
On a side note I would like to pass on my condolence to Leslie and her family over the loss of her father.
Magician and knife thrower enter the Shark Tank to gain $300,000 for Times Square theme park
The Fun House Project was the brainchild of Todd Robbins and David Adamovich. Their goal was to build a magic themed, 20,000 square feet attraction in Times Square. They would have restaurants, theaters, bars and other attractions. They were looking for $300,000 for 20% equity in the idea. The idea was way too much of a risk for the Sharks and everyone was out.
It’s a little crazy to go from a performance magician to owning a 20,000 square foot entertainment centre in Times Square.
Boogie Box Fitness owner requests $700,000 for 70% of workout DVD business
Dedelle Barbarti-Parra developed Boogie Box Fitness after having three children, she used her experience in martial arts and dance to develop her own workout routine. Boogie Box was hoping to take their workouts to the home DVD market by developing a DVD and marketing through infomercials. Dedelle was looking for $700,000 for 70% of her DVD business.
The sharks were not interested and everyone was out.
Wheat-free Play-Doh substitute, Soy-Yer Dough, peaks Sharks’ interest at $125,000 but sells for much more
Last into the tank was Sawyer Skarks and his business Soy-Yer Dough. Soy-Yer Dough is a wheat free molding dough that is made out of soy. Play Doh and other molding clays are made out of a wheat-based product that children with celiac disease (an allergy to wheat) are not able to play with. Sawyer, a University student was looking for $125,000 for 25% of his business. Sawyer has a provisional patent on Soy-Yer Dough, although he was still making it in his mother’s kitchen he had been able to sell 8,000 units with 10,000 on order.
Play Doh has been knocking on his door, multiple times, their last offer was for $500,000 for his business. He turned down the offer.
Kevin O saw a huge opportunity in this business so offered $125,000 for 51% of the business. He argued that he would not be able to negotiate with Play Doh as effectively he had control of the business. For the first time ever it almost looked like Kevin was beggin an entrepreneur to accept his offer. He said he would bend over backwards to make the deal a success, he would get Sawyer everything he wanted including employment for his home town. But Sawyer was still not convinced and countered with 40%, Kevin added that he would negotiate the deal with Play Doh before the deal was done, and if Sawyer felt bad about it he could chose not to take Kevin’s deal.
Robert offered $125,000 for 40%, and Kevin O was not happy about it. Sawyer then asked for more money, and within a few seconds Daymond, Robert and Kevin O offered $100,000 each for a total of $300,000 in exchange for 51%.
Sawyer accepted their offer!
This episode featured two of the best deals in Shark Tank history, and it was the most entertaining episode I have seen. I am excited to see what next week holds.
Remember to follow on twitter @SharkTankABC
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