October 20, 2009 11:53 PM by Cindy Adams
On tonightâ€™s episode of Shark Tank, the Sharks get cloned and miniaturizedâ€”well, sort of; Mr. Pancho tries to hold an iPod and headphones to the Sharkâ€™s liking; urination on the golf course is encouraged by a doctor; and two young, savvy, businessmen spark conflict among the investors. Also, a saucy company in which one of the Sharks invested, is updated on Shark Tank.
First into the Shark Tank was Jeff Wolsky with his company, The Bobble Place. He was asking for $75k in exchange for 18% of his company.
Clients provide photos to him and the company then hand sculpts a bobble head doll in that image for less than $100. He provided each of the Sharks with their own personal bobble head likeness.
He said he is now conducting the business on the Internet making seven figures a year. But the Internet business was not on the tableâ€”Jeff only wanted to give the Sharks part of The Bobble Place, which will be physical mall kiosks. Daymond wanted some insurance with the investment by getting a part of the Online business. Kevin O. said he would invest in the existing business at the terms Jeff wanted, but does not want him opening up mall kiosks. Jeff declined, but Kevin O. came back with $75k for 15% of the company. Daymond was out first; next was Kevin H.; then Barbara dropped out. Kevin O. sweetened the deal by saying he would give Jeff $100k for 10% of his company. To that, Robert said he would give Jeff $125k for 20%. Jeff countered by saying he hoped both Kevin O. and Richard would join forces and offer him $225k for 20% equity. Kevin O. sent Jeff out of the room so he and Richard could talk. Both thought Jeff was messing around with them so they called him back and offered him $100k for 20% of the business. Jeff declined, but Robert said he would revert back to $125k for 20% without Kevin O. With that Kevin O. dropped out and Jeff countered by saying heâ€™d consider $100k for 7%, which created confusion in Robert, who said he was done.
Next, the company Pork Barrel BBQ was updated. The owners of the company, Heath and Brett, had brokered a deal with Barbara several weeks ago and now theyâ€™re testing the sauce at Costco. In addition, theyâ€™ve opened a restaurant, are in 130 stores, and have their own campaign bus.
The next entrepreneurs to face the Sharks were Sandy Hyun and Roman Peitrs who own Mr. Pancho. They wanted $50k for 25% equity.
Mr. Pancho provides MP3 player or Smartphone users with a case and a way to keep their headphones neat and untangled. Sandy and Roman make the unit at home, and couldnâ€™t tell Daymond what it would cost to have a manufacturer make the product for them if they received large orders. None of the Sharks thought the business was large enough or viable, so all bowed out.
Dr. Floyd Seskin was next to speak to the Sharks, and presented his product, The Uro Club. He wanted $25k for 51% of his company. Heâ€™s a board certified urologist and has patients who urinate a lot, but love to play golf, which encouraged him to create a self-contained receptacle thatâ€™s camouflaged as a golf club.
The device comes with a towel called the privacy shield, which fastens to the front of the club so urination can be accomplished right on the course without anyone seeing a thing or knowing whatâ€™s going on.
The doctor sells The Uro Club on the Net for $24.95 plus $9.95 shipping and handling, and it only costs him about $8.83 to make. Daymond, Barbara, Robert and Kevin O. all dropped out, but Kevin H. offered the doctor $25k for 70% of the company. Amazingly, Dr. Seskin accepted.
Next up were Brian Duggan and Adam McCombs from Jump Forward. They wanted $150k for 10% of their company. Their business empowers high school and college athletes and parents by placing athletic recruiting into their own hands through uploading information to the Jump Forward Web site. The site charges a subscription fee to colleges and the men believed the site will soon grow to $30 million in revenue. The software on their Web site controls and helps manage the strict rules and regulations on recruiter contact with athletes as well.
Barbara, Daymond, and Kevin H. were out. Kevin O. offered $200k for 20%, while Robert offered $300k for 30%. Kevin O. asked Brian and Adam to leave the room so he could speak with Robert. Kevin O. said to Robert â€œItâ€™s a big mistake f***ing with me on this one.â€ Robert asked â€œare you threatening me?â€ Kevin O. said no but claimed he wanted to make a smart, lucrative deal. So, they decided to join forces and offer $400 for 50%. The men returned and Brian said they appreciated the offer, but werenâ€™t comfortable with it. Instead Brian pulled out a calculator and countered with $200k for 16% of the business. Kevin O. and Robert didnâ€™t like that percentage, and offered $500k for 50%, but Brian declined. Robert increased the offer to $600k for 50%! Wow! To that Brian said they were prepared to give away 50% equity in the company if both Kevin O. and Robert were in and the monetary amount invested jumped to $750k. Brian said another option would be $300k for 25% of the business. Both Kevin O. and Robert stuck with $600k for 50%. After some haggling, Brian said â€œdoneâ€ and the entrepreneurs accepted the Sharkâ€™s final offer.
Photo Courtesy: ABC Network