January 29, 2010 07:58 PM by Candace Young
Tonight on ABC’s reality hit Shark Tank another wave of hopeful entrepreneurs try their luck with the sharks – seeking the financial backing that might make their dreams come true! They must successfully convince the sharks to invest the amount they are asking for – or they walk away with nothing! Keep reading for tonight’s highlights!
This is a business designed for women, which is touted as not just a great idea, but also as a way to help save money. The entrepreneur is Jill Quillan, who explains that she started this business from her kitchen table. She needs the sharks to ‘get’ this product and take it to market successfully. Jill asks for $105,000 for a 30% cut of Lipstix Remix. The product is a mold to create lipsticks at home using the bottom third of old lipsticks that were previously unusable. Jill gives a quick demonstration, and Barbara pronounces it to be quite clever. Kevin O’Leary and Robert back out fairly quickly, with Kevin O’Leary saying he’s not a lipstick guy.
Barbara offers Jill half the cash, Daymond offers all the cash for 40%, and Kevin jumps in with an offer of half the cash to partner with Barbara, but they’d have to get a 40% cut. Daymond then stuns Barbara by suggesting to Kevin that they go in together and cut her out! The three sharks argue, and Barbara announces that she doesn’t want to do business with them after the way they’ve acted. Jill, meanwhile, phones her husband to get the okay on handing over 40%. While she was on the phone, Barbara reconsidered, and is back in with Kevin and Daymond, however, they now want 50% of the business! Jill seems slightly shaken, but makes the deal!
Treasure Chest Pets Update
Lisa Lloyd struck a deal with Daymond and Barbara earlier in the season – Shark Tank goes to see how she’s doing now. Treasure Chest Pets sales are up 1000% and are in Bed, Bath, and Beyond stores!
Captain Ice Cream
Tim Gavern is hoping to bring happiness to kids everywhere – he’s Captain Ice Cream! He’s a moped-driving ice cream man, who says he is a third generation ice cream man! He dreams of having franchises all over the US! He is offering 25% of the business for a $48,000 investment. He emphasizes the wholesome image, and tells the sharks he owns the trademark. The sharks then ask for ice cream! Tim says he is barely making a living at it now, and Barbara reasons that what he is actually selling a concept. In the end, the sharks all decide that he’s there too early on and is too unprepared – they all opt out.
Michael Schiavone is up next, hoping to send the sharks into a frenzy. He’s offering 25% of his Caffeindicator, which shows whether or not there is caffeine in your coffee, for $200,000. His product would be sold to one of the big sweetener companies as an add-on to their packet product – he’s hoping they would get into a bidding war for it. Barbara isn’t so sure that consumers are that paranoid and mistrustful about whether their decaf is actually caffeinated coffee. She opts out, but Robert offers $200,000 for 60% of the business. Kevin H says he has a better offer – $200,000 for 50%. Daymond is out, but Kevin O waffles about whether or not to trump the going offers. Kevin H insists on having an answer immediately. Michael jumps on it – he accepts, and a deal is struck!
Jeff and Annie Hughes are in the tank next. They run Legal Grind, a coffee house where anybody can access legal information, have legal documents drawn up, or find legal representation! They want $200,000 for a 15% share. They do a husband and wife routine as their sales pitch. Robert likes that the target market is the middle class, but isn’t sure about the coffee house part of it. The sharks go back and forth with Jeff and Annie for quite a while as they attempt to explain that the store isn’t a money-maker. Daymond is the first to bow out. Barbara is second. Kevin H doesn’t think they’re ready for franchising, and Robert thinks it’s a bad idea – they both say no. Kevin O remarks that all he saw today was some bad theater – he’s out.
Photos Courtesy: ABC