January 09, 2010 07:37 PM by Candace Young
On Friday January 8, on ABC’s newest episode of Shark Tank, a brand new batch of wannabe entrepreneurs approach the panel of sharks in the hopes of snagging the investment they need to give their business a boost! Will any of them be successful? Read on to find out!
Michael and Babz Barnett are the first hopefuls in the tank this evening. They are offering a 10% stake in their already successful business, Romp n’ Roll, which is a group of children’s play centers, in return for an investment of $300,000. In spite of the fact that 10 Romp n’ Rolls already exist in the United States (one in Puerto Rico), only Robert is truly interested – he agrees to the $300,000 figure, but wants a 51% stake for that amount. Kevin O gets in on the deal – he’ll go 50/50 with Robert. The Barnetts consider all of this, then come back to the men at 20% stake in the company. Wanting control, the sharks pass.
The proprietors of Hells Bells, unique and artistic bike helmets, Marix Stone and Dr. Nancy Tanchel, are next up. They tout their helmets as being stronger than the current helmets already out there, and propose that an investor pay them $500,000 for a 20% cut of the business. Daymond counters with an offer of 50%, and he’ll bring in his connections with several companies. Marix and Nancy are in!
The Twister, a portable golf ball cleaner, is the next amazing product to make its way before the sharks. Alfonzo “Fonz” Dowe, the inventor, is putting 40% of the action up for grabs in return for $85,000. Fonz is an entertaining fellow, who also turns out to be a policeman, but doesn’t have his business plan in order, and cannot convince the sharks that his vision will fly – they all pass.
Salad-dressing and seasoning lady, Dorene Humason, is the next to try the tank. Her Jaden Chinese Salad Dressing and Seasoning Mix, proves to be a huge hit with the sharks – but will any of them pay $50,000 for a 10% stake? Barbara is impressed, and interested, enough to counter offer $50,000 for 40% of the business. Dorene is torn, and asks Barbara to consider dropping down to a 35% stake – after all, she’s invested $300,000 of her own money thus far. Barbara takes a mo’, then says she’ll do it! A deal is struck!
Last on tonight’s episode of Shark Tank, is Andy Sperry, who brings to the panel his ink-jet cartridge re-filling service, Ink Flip Service. He’s looking to net a $150,000 investment in return for 20% equity in his firm. Unfortunately, Andy can’t satisfactorily provide the answers to some of the sharks’ questions, and hasn’t made much money to this point with the venture – he’s turned down by all.
Photos Courtesy: ABC