- Boneless baby back ribs that only take two minutes to cook in a microwave; detachable mohawks for kids' safety helmets; a reality interface for video gamers.
- During the episode, several entrepreneurs pitched their business ideas to the Sharks: Mark, Daymond, Kevin, Barbara, and Robert.
The first pitch was for "SpiritHoods," a line of furry hoods that resembled animals. Marley Marotta and Alexander Mendeluk sought $450,000 for a 15% stake in their company. They had achieved impressive sales of $9.3 million in just three and a half years, with major retailers such as Harrods and Nordstrom carrying their products. They experienced a significant spike in sales from September to December, accounting for 70% of their total sales. Retails for $100 per unit, and costs $29 per unit. Last year sales were $3 MM, year before $4.5 MM, year before that $1MM. Year before made $1MM in profits, last year lost $500K. Hired a lot of folks to expand into new markets to increase sales (which were dropping). However, their profitability had declined, and they had recently cut costs and refocused their efforts on their core products. Kevin decided to back out due to declining sales, while Robert believed the business might be a passing fad and also opted out. Barbara withdrew her offer due to concerns about the declining sales, and Mark believed the price point was too high for his stadiums, leading him to decline as well. Daymond made an offer of $450,000 for a 50% stake and proposed a licensing partnership, but the entrepreneurs countered with $450,000 for a 22.5% stake and a percentage of licensing deals. Daymond rejected the counteroffer and exited the deal.
Next up was the pitch for "Virtuix Omni," a virtual reality platform that allowed users to move freely. Jan Goetgeluk requested $2 million for a 10% stake in his company. The product was sold online for $500 and had raised $1.1 million through a successful Kickstarter campaign, generating orders for 3,000 units. The virtual reality glasses needed for the system were sold separately at a cost of $300, bringing the total price to $1,000 per kit. Jan projected sales of 2,500 units or $12.5 million for the following year. Barbara decided not to invest as the product required too much store space for demonstrations. Daymond opted out, believing that the average gamer, who was often overweight, would not use the product for more than 30 minutes. Robert also declined, expressing doubts about its ability to scale, while Kevin felt the valuation was unreasonable and the risk too high. Mark believed the competition in the market was fierce and found Jan's plan lacking, leading him to withdraw his interest as well.
The entrepreneurs behind "FoHawx" presented their line of accessories that attached to bike helmets. Jocelyn Fine and Kelly Dineen were seeking $150,000 for a 30% stake in their company. FoHawx aimed to make safety helmets cool for children aged 4 to 10, with a production cost of $5 and a selling price of $20. They had sold 5,000 units in the past 12 months, generating $50,000 in revenue. The product was currently being tested at 80 stores, including Toys-R-Us and Walmart. While Robert and Kevin expressed concerns about the intense competition in the market, Kelly disagreed. Kevin also criticized the low sales volume. The entrepreneurs expressed interest in launching more product variations and pursuing licensing opportunities, which drew laughter from the Sharks. However, the girls revealed that the product had sold out when they lowered the price to $9.99 during flash sales on websites. Barbara decided to opt out, concerned that the entrepreneurs were not recognizing the warning signs. Mark also withdrew his offer as he felt the entrepreneurs were expecting the Sharks to do all the work for them, including navigating the Chinese market and managing licensing. Robert believed the entrepreneurs lacked focus, and Daymond concluded that the product was not selling well. Kevin, not mincing his words, stated that the entrepreneurs needed to wake up and face the reality of potential bankruptcy.
The final pitch was for the "De-Boned Baby Back Rib Steak," presented by Al and Sabina Baker. They sought $300,000 for a 15% stake in their company. Their product involved cooking ribs with the bones inside the meat, then removing the bones, allowing consumers to eat the ribs with a knife and fork. The Bakers held a product and process patent and had generated $154,000 in sales over the past 12 months through 48 stores. Kevin questioned the valuation but expressed interest in a licensing deal. He offered $300,000 for a 49% stake contingent on securing a licensing agreement. Daymond made a similar offer of $300,000 for a 30% stake, also contingent on a licensing deal. Robert decided to withdraw since Al would be making the licensing decisions independently, and Barbara believed the other offers were more favorable. Mark opted out, citing the small scale of the business. Ultimately, Al chose to partner with Daymond.
In an update segment, it was revealed that Daymond and Mark had attended the "Kingonomics Conference" to celebrate minority entrepreneurs on the 50th anniversary of the March on Washington. Mark disclosed that the Sharks had no control over who entered the tank for their pitches and that they only knew the entrepreneurs' first names.
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