The last episode of the season is upon us, and if the first 25 episodes have been any indication, we’re in for a good one. In case you missed out on the final bloodbath of Shark Tank Season Four, here’s what happened in the tank:
Val Brennan – Seeking $200K for Three Day Rule
First is Val Brennan seeking $200K for 10% of her co-founded online matchmaking company, Three Day Rule. Val started Three Day Rule after having trouble on the dating scene because she was a lawyer working 16 hours/day, with no time for online dating. Three Day Rule claims to be different than other dating website because everyone must be invited or endorsed to get in, resulting in a quality pool of singles. Once applicants are accepted, there’s a $100/month membership fee, and they can take a quiz and then receive matches and can start communicating immediately. Val says that Three Day Rule seeks to fill their roster with members who make at least $50,000/year, and who are established and accomplished, both personally and professionally. This online matchmaking company actually grew from her profitable offline venture that charged members $1,000 for three dates and brought in $70,000 in revenue last year. Three Day Rule is pre-revenue right now (they are in the process of building their core user base fee-free), which leaves the Sharks with concerns about the business model, and unclear on the company’s differentiating factors. Despite the fact that they already have investors—to the tune of $150,000—at a $4 million valuation, the Sharks just aren’t biting. They’re all out.
Mother, Son Seeking $25,000 for a 25% stake in Ryan’s Barkery
Next up is 11-year-old Ryan, his mom, Daniela Kelly, and their dog, Barkley, presenting their company, Ryan’s Barkery. Ryan is seeking $25,000 for a 25% stake in his fresh and all-natural dog treat company. After noticing the unnatural ingredients that make up most dog treats, Ryan and his mom were inspired to make treats that smell (and taste!) delicious for dogs. Thus, Ryan’s Barkery was formed, and he specializes in pumpkin apple, banana oat, and low-fat cheddar treats. With a Shark’s investment, Ryan hopes to start a website and begin fulfilling orders with the use of a commercial kitchen. Thus far, Ryan’s sold about 200 bags at $4 apiece, and each bag costs him only $0.36 to produce. Ryan currently works for the company by baking treats before school, and his only debt is the $200 his mom gave him to start the business. The Sharks all seem to love Ryan’s entrepreneurial spirit, however most of them want Ryan to continue to develop this business all on his own. Still, Barbara is in $25,000 for 25%, but the other Sharks attempt to convince Ryan that Barbara’s investment isn’t worth giving up a piece of his business. Ryan thinks otherwise, and the deal is made!
Founders of Tom + Chee agitate the Shark Tank with a $600K request
Third into the Shark Tank are Corey Ward and Trew Quackenbush from Cincinnati, OH, founders of Tom and Chee, a grilled cheese and tomato soup shop. The men are seeking $600K for 10% of their sandwich company. Tom and Chee has been successful thanks to a menu of over 20 unique and creative sandwich options, including one top seller made on a donut instead of bread. The business began humbly in 2009, with the first restaurant opening one year later. Soon after, a mall offered them an opportunity to open their second store, and their first franchise opened in Kentucky in 2012. Corporate sales were $1.5 million in 2012, and the business now has over 70 employees. Tom and Chee’s franchise location did $100,000 in sales in one month in 2012, with 7.5% of that coming back to corporate. Always on the hunt for her next great food deal, Barbara is first to make an offer of $300,000 for 15%, looking for other Sharks to join her. Kevin and Robert each agree to put up $100,000 for 5%, leaving room for one more to jump in. Mark, however, has other thoughts. He wants a deal just between him and Barbara at $300,000 for 15% apiece, and Mark wants the exclusive rights to Texas. Sensing a power play, Kevin and Robert step out, just as Barbara lays claim to New York. With a great deal on the table, the men smell a match made in cheesy heaven and they accept the deal with Mark and Barbara.