- An old-fashion premium golf putter.
- In the Shark Tank episode, several entrepreneurs pitched their businesses to the panel of Sharks including Mark, Barbara, Kevin, Lori, Robert.
The first entrepreneurs, Alice Brooks and Bettina Chen, presented "Roominate," a construction set toy targeted at girls aged 6 and above. Their ask is $500,000 for a 5% stake. The wire-based set had generated $1.7 million in sales over 18 months, with an expected $5 million in sales for the current year. While the product was initially sold mainly through Amazon and online platforms, it had recently gained entry into Toys-R-Us stores and other big box retailers. The set retailed for $30, with a production cost of $8.75, and wholesale prices ranging from $16.5 to $24. The entrepreneurs had raised $850,000 in investments at a valuation of $6 million. However, Kevin decided to opt out due to the uncertainty of their sell-through rate, and Barbara declined to invest since the packaging did not specifically mention "girls." Mark made an offer of $500,000 for 55% on the condition that the girls would mentor his daughters, which was accepted by the entrepreneurs. Robert opted out, and Lori expressed her interest in joining Mark, which was also accepted.
Next up, Tigere Chiriga presented "The Floating Mug Co.," which offered mugs and glasses with built-in coasters. Her ask is $750,000 for 15% The porcelain-made products initially cost $12 but were produced in China to reduce costs to $4. The selling price was set at $30, providing a 100% premium over regular porcelain mug and coaster combinations. Tigere was working on a glass version with a built-in coaster, and the product was patented. Kevin decided not to invest due to pricing concerns, and Robert believed it would not gain mainstream popularity. Mark opted out because the online channel was not the right fit for him, while Barbara saw it as a one-time purchase and gift item. Lori declined to invest because the glass product was still in the prototype stage.
James Cass and Adrian Gonzalez presented their business idea, "Wedding Wagon," which involved using a van as a mobile wedding chapel. They are asking $125,000 for 20%. They had conducted 6-8 weddings per day, generating $243,000 in sales in Vegas the previous year. They sold their initial van and territory to a new owner and sought to start a franchise business. Mark opted out, as he didn't see the potential for franchising outside of Vegas. The franchise fee was set at $25,000, leading Lori and Kevin to opt out due to the high cost. Barbara declined to invest, considering it a gimmick.
The final entrepreneurs, Eric Williams and Phillip Lapuz, pitched "Kronos," a brand of premium golf putters. Their ask is $150,000 for 15%. They had achieved $260,000 in sales, with 95% of that coming from Japan. The putters were priced at $500 and were not distributed in the US, as American consumers sought validation from professional golfers, whereas the Japanese appreciated the artistry and craftsmanship behind the product. The production cost was $120, and wholesale prices were set at $230. The entrepreneurs had invested $100,000. Mark and Barbara both opted out due to their lack of interest in golf. Lori declined to invest, citing the unproven concept in the US market. Phillip shared a personal story about his fiance being in Japan and unable to come to the US until the business succeeded, as her parents no longer approved of him. However, even after this emotional appeal, Kevin decided against investing. Robert made an offer of $150,000 for 35%, leading to negotiations and ultimately settling at a deal of $150,000 for 30%.
In an update on a previous episode, Lani Lazzari of Simple Sugars informed Mark that sales had increased to $3 million over 18 months. They had also signed a deal with a maternity brand to carry their product in over 500 stores, expecting to achieve $4 million in sales over the next 12 months.
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