Shark Tank Season Six is bounding toward the finish line, but the Sharks aren’t done making deals just yet. In case you missed the latest round of action in the Shark Tank, here’s how it all went down:
First into the Shark Tank are singer Pat Boone and Ethan Tucker, the guys behind Zero Pollution Motors. Pat and Ethan are seeking a $5 million investment in exchange for 50% equity in their company which manufactures green and clean vehicles. Zero Pollution Motors builds cars that run on compressed air. The cars will retail for about $10,000, and they have a range of about 100 miles and can be either charged at home or using a compressed air machine, like those used to pump tires at a gas station. The guys are seeking a Sharks investment to build a regional plan in Hawaii, which will serve as a test market for the first manufactured vehicles. The Sharks have immediate concerns about the regionally of the company, as their investment would secure them equity in only the Hawaiian branch. When Kevin proposes going directly to the car manufacturer, Pat and Ethan challenge Kevin to try it. Ultimately, the Sharks can’t get over the regionally of the offer, though Robert makes an offer. Robert offers $5 million for 50%, contingent on the ability to negotiate a US-wide deal with the owner. Pat and Ethan take a leap of faith and the deal is made!
Next into the Shark Tank were Todd and Shauna Sledge, the couple behind The Paleo Diet Bar, a Paleo-friendly protein bar. The Sledges entered the Shark Tank looking for a $150,000 investment in exchange for 20% equity in their company. The bars are grain-, soy-, gluten-, and dairy-free, and they’re even exclusively endorsed by Dr. Loren Cordain, the founder of the paleo diet movement. As a personal trainer, dental hygienist and entrepreneur, Shauna’s split attention quickly creates concern among the Sharks. However, the company’s $135,000 in sales are enough to keep them interested… for a little while. However, as Shauna continues to delve into the company’s financials and margins, the Sharks worry that she’s just doing too much to really devote herself fully to the business. With that, the Sharks are out.
Third into the Shark Tank is world record fisherman Greg Myerson, hoping to hook a shark for his business, World Record Striper Company. Grey entered the Shark Tank seeking a $75,000 investment in exchange for 20% equity in his company that specializes in rattling fishing flies. Greg, who owns the world record for catching the largest striped bass (82lbs!), developed the RattleSinkers to mimic sounds that bass hunt for. To date, he has sold 7,000 units of the flies which cost $2.50 to manufacture and retail for $6.45. When Greg lets the Sharks know that he just secured the IP and trademark for the product, they’re hooked. Mark makes an offer of $80,000 for 33%, which is the same offer he made Shark Tank veterans Shell Bobber. Hook, line and sinker, the deal is done!
Last into the Shark Tank are Konrad Billetz and Kevin Habich, the guys behind Frameri Eyewear. The duo asked the Sharks for a $150,000 investment in exchange for 3.5% equity in their glasses company. The concept behind Frameri is simple: sell interchangeable lenses and frames that allow wearers to change up their look as often as they change their clothing. Frameri sells six pairs of glasses for $500, or $100 each for frames and for lenses. While the Sharks are gaping over the $4.3 million valuation, the guys drop the bomb that they aren’t yet selling the glasses, and are still in the pre-order stage. Kevin wonders out loud why Luxxotica won’t just crush them like “the cockroaches they are,” but Konrad and Kevin defend their business. The Sharks quickly grow impatient, though, with both Lori and Daymond lecturing the guys that the Shark Tank floor is for people who are actually looking for an investment, not just for exposure. Mark jumps to their defense, saying that Shark Tank isn’t only for the desperate. And, when the guys continue to discuss their business plan and customer acquisition rate, it seems they may have recaptured the interest of some of the Sharks. Unfortunately the guys fumble on tougher questions about how their customer acquisition costs are spent and how they plan to build awareness. Still, Kevin makes them an offer of $150,000 as a loan in exchange for $25 per box set until he’s recouped $450,000. But there’s no happy ending in sight for this duo; Frameri rejects Kevin’s offer and leaves the Shark Tank without a deal.
What did you think about tonight’s episode Shark Tank fans? Let us know!