September 06, 2009 08:45 PM by Cindy Adams
On this episode of Shark Tank, an overweight entrepreneur attempts to gain an investment into his fitness gadget; a woman makes surgical masks a laughing matter; a diabetic shares his gourmet treats; a savvy businessperson celebrates death; and two brothers offer psychoanalysis over the Web. Although some entrepreneurs leave the Shark Tank wounded, others are given the chance of a lifetime to expand their business and share the wealth with an investing Shark.
First into the Shark Tank was Cactus Jack with his daughter Kelly. What a character! He invented the Body Jac and is seeking a $180k investment for a 20% stake in his company. The Body Jac is a gadget that makes it easier to do push ups effectively.
His daughter, who was in great shape, demonstrated the product.
Kevin O. thought it was too risky, so he was out first. Robert was out next. But, Kevin H., who deals with fitness equipment on his infomercials, said he would invest $90k for 50% of the company. Barbara said she would join Kevin H. and would put up the other $90k, but on the contingency that Cactus Jack lose 30 lbs. by using the product. Jack, who had a pretty hefty belly, was happy to oblige agreed to the deal.
Irina Blok was next to present her idea, Face Blok, to the Sharks. She wanted $50k for 30% of the company. Face Blok makes fashionable surgical masks for people who have an edgy sense of humor and want to express themselves.
For example, one had a beard painted on it, another had a pigâ€™s snout on it, while yet another simply said â€œoink!â€ Cute idea!
But, Barbara thought the product was too freaky, so she was out. Kevin H. and Daymond were out next, thinking it was a novelty item. Finally, Robert and Kevin O. bowed out as well. Too bad, the masks were cute and would be great for pediatricians! Oh well.
Next to stand before the Sharks was Jeff Cohen with the Granola Gourmet. He wanted a $175k investment for a 25% stake in the company. He created special energy bars, because, as a diabetic, he had trouble finding a good snack. He said his product has been successful in the Southern California market with the grocery chain, Whole Foods. That sounded great, but after the Sharks discovered he used to have a software company and went bankrupt, they were skeptical.
Kevin H. was out first, and Daymond didnâ€™t like the bars, so he was out. Barbara was next out, and Kevin O. proclaimed Jeff to be â€œradioactiveâ€ because he would never be able to deal with a bank due to his bankruptcy, so he was out. Kevin O. is a real jerk. Robert adamantly disagreed with Kevin O. about Jeff being â€œradioactive,â€ but felt Jeff wasnâ€™t focused on maximizing his opportunity with Whole Foods, so he was out.
Rikki Farrar was up next with Good Grief Celebrations, which is a funeral concierge service. She wanted $50k for a 25% stake in her company, which specializes in celebration of life parties instead of having a traditional funeral after someone dies. Kevin O. loved the idea and said, â€œThereâ€™s never a better time to up sell than when a family is stricken with grief.â€ Nice Kevin! Rikki said that one of the ways she gets business was to visit hospices and nursing homes with a therapy dog. Robert was a bit surprised and asked, â€œYou wait for people to die?â€ The other sharks were outraged, but Kevin O. was totally on her side. It appears that Kevin O. and Rikki was a match made in heaven!
Robert thought she was taking advantage of people and opted out. Barbara thought the whole idea was creepy wanted no part of the deal. Daymond believed her low sales of only $11k last year were too low, so he was out. Kevin H. just didnâ€™t like the whole idea of the company and was out. Not surprisingly, Kevin O. really wanted to invest because he said he â€œlikes death,â€ but her sales were just too low for him as well.
Last up to speak to the Sharks were brothers Rodolfo and Alexis Saccoman, who founded and created the Website My Therapy Journal. They asked for $80k for a 20% equity stake in their business. Basically, their Website provides an online psychotherapy tool. It is software driven and users can log on to the site to see graphs, etc. and track their therapeutic progress. Right now the site has over 1,000 customers but, they only grossed about $4k last year. Thatâ€™s because each customer is given a 14 day free trial and only 10% actually become paying customer.
Barbara and Kevin H. bowed out. However, when the brothers mentioned they were in talks with Aetna and other insurance companies regarding the site, several of the Sharks became very interested. Kevin O. offered $80k for 50% of the company, but Robert stepped in and said he may be willing to up the money contingent on Aetna being part of the equation, but ended up offering $80k for 51% of the company. Daymond voiced his interest as well. The brother took a moment to talk about what they were being offered and decided to counter, by offering 49% of the company for the same amount of money.
Robert and Kevin O. didnâ€™t want Daymond in on their deal, so he made a separate deal of $120k for 50% of the company. Robert, who is an Internet mogul said he and Kevin O., who created a billion dollar software company, convinced the brothers they knew much more about an Internet enterprise than their fellow Shark, Daymond, who owns a fashion line. The brothers desperately wanted the expertise of Robert and Kevin O., so they took their offer. That was a great move! Hope Aetna actually comes through!
Donâ€™t miss next weekâ€™s episode when a new crop of entrepreneurs stand before the Sharks and pitch their ideas for a big investment and a stake in their companyâ€¦
Photo Courtesy: ABC Network