- A California entrepreneur wants to bring back old-fashioned ice cream men.
- Kevin O'Leary, Barbara Corcoran, Kevin Harrington, Daymon John, Robert Herjavec
Jill Quillin, "Lipstix Remix" a lipstick mold that combines used lipsticks into a new stick; $105K for 30%. Sold 800 units as a test. Sells for $19.95. Herjavec is out since he thinks QVC is the only way to go with this product and he has no access to that channel. Jill has a clear roll-out strategy. O'Leary is out since he is not a lipstick guy. Barbara wants to put half the cash and wants Jill to get another shark to invest. Daymon offers $105K for 40%. Harrington joins Barbara and asks 40%. Daymon and Harrington have retail and QVC and decide to dump Barbara to offer $105K for 40%. Barbara negotiates her way in and its 3 sharks for $105K for 50%. Jill accepts.
Update on: Treasure Chest Pets (Episode 108). Lisa Lloyd. Sales are up 1000% and is in buy-buy baby. Also in Bed Bath and Beyond online.
Tim Gavern, "Captain Ice Cream" an ice cream vending business; 3rd generation ice cream vendor. Wants to franchise his business. $48K for 25%. Has a national trademark for the name of the business. The moped is $7000 per piece. The moped generates $200 in a 4 hr shift. $25 per hr as vendor as profit. Income potential is $25-50K per year per moped. Daymon is out since he thinks its not invest-able. Tim thinks he can charge $12,500 for each franchisee. O'Leary is out. Herjavec points out that Tim barely makes enough money with his own moped, has no franchise and doesn't make his own ice-cream. He it out, so is Harrington. Barbara is out since Tim is too unprepared.
Michael Schiavone, "Caffeindicator" a decaf coffee testing system incorporated onto sweetener packets; $200K for 25%. Michael wants the sharks to help him negotiate with the sweetener companies to put his testing system inside their packs, so they can claim their pack is better and they can get more market share. Michael doesn't have a cost number, but claims that it can be made for fraction of pennies per piece. Michael wants to start a bidding war amongst the 5 big sweetener players even if they just want to win so the other guys cant use the product. Barbara is out as she thinks that the sweetener companies have to educate the consumer about caffeine testing and that's expensive. Daymon is out for the same reason. Herjavec offers $200K for 60% contingent on a deal with the sweetener companies. Harrington offers the same deal at 50%. Michael takes Harrington's offer.
Annie & Jeff Hughes, "Legal Grind" a coffee shop that provides legal services; $200K for 15%. They are both lawyers and want to franchise their concept. Annual revenues are $200K per year. Netting $20-30K per yr as they pay themselves a salary. Annie is adamant that it has to be a storefront and the services should not delivered via the internet. O'Leary is not sure why they want to go into a low margin business with providing legal services to the middle class. The couple claims that they have received many franchisee requests, and Daymon challenges them to take the money. But Annie and Jeff say that they don't know what to do after they accept the franchisee's money, and Daymon counters that they still wont know after they take his $200K. Annie is offended when Herjavec says that their concept barely makes any money today. Daymon, Barbara, Harrington and Herjavec are out since the concept is not successful.
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