- Pitches include a mother and son from Grand Rapids, MI whose business can give every bride a gorgeous wedding cake but for a slice of the price; and a restaurateur from Houston, TX has a solution to a common problem encountered while dining out.
- In this episode of Shark Tank, the entrepreneurs presented their business ideas to the Sharks: Mark, Barbara, Kevin, Lori, and Robert.
First up was "FunCakes Rental," a company owned by Koray and Kimberly Aya. They offered $285,000 for a 25% stake in their business, which specialized in renting fake wedding cakes. Their sales for the year reached $150,000, with profits of $76,000. Having been in business for seven years, they had 150 cakes in inventory and charged a rental fee of $150, significantly lower than the cost of a real cake which averaged $1,200. However, Lori decided to opt out due to her preference for real cakes. Mark pointed out the potential for the business to generate $1 million in rentals based on their inventory and turnaround time but concluded that the entrepreneurs were not aggressive enough, leading him to pass as well. Kevin dismissed the valuation as unsatisfactory, and Robert criticized the entrepreneurs for their lack of knowledge about their numbers. Barbara, unimpressed with the progress made by the team so far, also decided to pass on the opportunity.
Next, the entrepreneurs behind "Paper Box Pilots," Noah (13 years old), Brian, and Milo Cahoon, pitched their business. They sought a $35,000 investment for a 25% stake in their company, which focused on selling decorative stickers to transform cardboard boxes into vehicles. Unlike their competition, they did not sell pre-folded boxes, only the stickers. Their stickers were priced at $8, while the competition offered sticker sets with boxes at four times the price. With $7,500 in sales over eight months, 30% of which came from online channels, they had 23 retail accounts. Kevin made an offer of $35,000 for 50% ownership, but he wanted them to sell boxes as well and required Noah to work full-time. Mark opted out, stating that the toy business was not his area of expertise. Lori deemed the business unable to scale and decided to pass as well. Robert matched Kevin's offer, while Barbara proposed a different deal of $35,000 for 35% ownership with a focus on creating a gender-neutral version of the product. Robert countered with an offer of $50,000 for 50% ownership. Ultimately, Noah chose Kevin's offer as he was the only Shark who had successfully sold his company to Mattel for $4 billion.
Then came the pitch for "Table Jacks" by Steve Christian, who was seeking a $100,000 investment for a 25% stake in his business. "Table Jacks" provided a solution for wobbly tables. With $200,000 in sales over two years and a patented product, Steve was not enthusiastic about Kevin's proposal to license the idea, leading Kevin to back out. The product was priced at $15, with a cost of $3.65. Barbara chose not to invest, as she had earned tips as a waitress by pretending to fix tables herself. Lori didn't see a significant market and opted out, while Robert believed door-to-door sales were not the path to profitability. Although Mark expressed his admiration for Steve, he ultimately decided to pass due to the small scale of the business.
Finally, the entrepreneurs behind "Reviver," Ben and Eric Kusin, offered a 5% stake in their business for $150,000. Their product was freshening wipes that masked odors on clothing, with a pending patent. They had invested $2 million so far and achieved $510,000 in sales within ten months. The wipes effectively masked odors for over an hour and were sold in Petco's 1,200 stores. With manufacturing improvements and a test order from Walmart, they projected sales of $4 million in the next 12 months. Mark chose not to invest, skeptical of the entrepreneurs repeatedly referring to their formula as a new technology. Kevin, on the other hand, anticipated that their sales of $208 per store would lead to Delisting and declined to make an offer. Barbara decided not to invest in what she referred to as "rich kid businesses," as the entrepreneurs' father was the founder of GameStop. Lori, impressed by the product, offered $150,000 for a 15% stake, while Robert countered with a $150,000 offer for a 10% stake. The entrepreneurs ultimately accepted Lori's offer.
As an update on a previous episode featuring "ScreenMend" (Episode 504), Brian Hooks negotiated with Lori for his screen repair product. Within two months, the product appeared on QVC, resulting in $4,000 in sales before the show and a remarkable $900,000 after the airing. The company had introduced new packaging and secured deals with Home Depot, Lowe's, and BBB. They had also established a new manufacturing facility to support their growing business.
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