February 05, 2010 08:03 PM by Candace Young
Tonight ABC, it’s the season finale of Shark Tank, the reality show that brings hopeful entrepreneurs before a panel of ‘sharks’, aka, potential investors. The hopefuls must convince the sharks to pay what they are asking for a stake in the company, or it’s no deal! Will anyone successfully strike a deal tonight? Read on to find out!
Send a Ball
Michelle Kapustka and Melissa Moroko are two sisters who will be first into the Shark Tank this week. Their business is Send a Ball, which they run out of their garage. They have so many orders that it’s necessary for them to put their own children to work! The sisters are asking for $86, 000 for a 20% stake in the company. The balls have greetings printed on them. Sales have doubled each year they’ve been in business! Kevin O doesn’t want to be in the ball business, though he likes their story – he’s out. Barbara wonders why they need a partner as opposed to a bank loan. Kevin H and Daymond agree – they bow out. Robert follows suit. Barbara is their last hope, but she passes, telling the ladies that a year from now they would resent paying her a whole bunch of money – they don’t need her!
LifeBelt was pitched for the Sharks previously, and Robert had made a million dollar offer in return for 100% of the concept. The entrepreneur turned down what was the largest offer ever made on the show, and is now successfully marketing the product on his own!
Calling the sharks his ‘last hope’, Mark Burginger, goes in looking for $90,000 for a 51% stake in his Qubits construction toy business. As Barbara checks out the product, Robert tells Mark he’s suspicious of him offering a controlling interest in the company. Mark says he owns the patent, but has to admit he’s only sold $8,000 worth so far. They ask if he’s approached a large toy company, seeing as Lego is currently the leader in the market. Mark hasn’t done that. Kevin O says either the toy companies will like it or not – either way, there’s no opportunity for investment. When four sharks bow out in rapid succession, Daymond becomes Mark’s only shot at saving his toy company! Daymond offers 51% for $90,000, but it’s contingent on calling the top four guys in the toy business and garnering interest. Mark accepts – he’s pleased.
Pillars of Slippers
Nicole Jones is in love with shoes. For her business, she puts out a pink carpet and throws shoe parties! Nicole begins her presentation with a little dance, which seems to perplex and amuse the sharks. She wants $150,000 for 15% stake in the business. Nicole starts talking sales and distribution with the sharks. Kevin O is impressed with her idea to ditch her brick and mortar store and focus on home parties and Internet sales. The sharks are thrown, however, when Nicole says that women wanting franchises would have to come up with $100,000 up front for an SUV and the initial stock. One by one the sharks bow out, saying she’s asking too much. They also feel she’s too crazy. Nicole tells Kevin he missed out on working with the ‘shoe professor’!
Aida Camwich-Lough and Phillip Lough come before the sharks with their product, which is an affordable liquid fertilizer. Daymond wonders what makes people pick up llama poo and make it into a juice. The Loughs explain that their fertilizer is natural as opposed to chemical types. The sharks like the concept, but find the price tag of $125,000 for a 10% stake way too much considering they only have $4,000 in current sales. They all pass.
Alan Kaufman enters the shark tank with his invention Nubrella, which is impossible to invert and can be used hands-free even in the worst weather! The sharks are intrigued. Alan demonstrates. He is looking for $200,000 for 25% of his business. He says they sell for $49, but only cost $14 to make – he has orders from 47 countries and gets hundreds of wholesale requests from outside the United States. Alan also owns the patent. Barbara opts out first. Robert is convinced he’s got a real business, but it’s not for him – he’s out too.
Kevin H offers $200,000 for 65% of the company. Kevin O says it’s hard to compete with Kevin H who has his own distribution channels – he’s out. Alan turns down Kevin H’s offer, saying he can only go as high as 35% equity. Daymond jumps in and says Alan could have both of them in on the deal for 60%. Alan says it’s still too rich – he counteroffers 50%. Daymond says they’ll do 51% – they need control because their money is at risk in manufacturing and distribution. Alan is torn, but ultimately makes the deal!
Photos Courtesy: ABC