Plot

A man from Cumming, Georgia promotes unique exercise clothing that provides hyper-gravity weight training; a Spokane, Washington entrepreneur has a product to appeal to today's "urban beardsman" with beard oils, mustache waxes and a community for facial hair aficionados; two New Yorkers have a karaoke machine that adds jaw-dropping vocal harmonies to help users sound like their favorite stars; belts that are easy for kids to use from a St. Louis, Missouri woman; and a follow up story on Barbara Corcoran's deal from last season, Grace and Lace, hand-knitted socks and legwarmers.

In this episode of Shark Tank, several entrepreneurs presented their business ideas to the panel of Sharks: Mark, Daymond, Kevin, Lori, and Robert.

The first pitch was for "Titin," a weighted workout shirt designed to enhance exercise performance. Patrick Whaley sought a $500,000 investment for a 5% stake in the company. The patented vest weighed 8 pounds and had generated $1 million in revenue the previous month. The product was sold online through retailers, targeting military and CrossFit customers. The selling price was $250, with a wholesale price of $137. Despite some concerns from Mark about the lack of product testing, Robert expressed uncertainty regarding the target market and generalizations made by Patrick. Lori opted out due to her gender, but both Kevin and Daymond made offers. Patrick ultimately accepted Daymond's offer of $500,000 for a 10% stake.

Next up was "Beardbrand," a kit of facial hair maintenance products presented by Eric Bandholz. Eric sought a $400,000 investment for a 15% stake in the company. The business had generated $800,000 in sales over 17 months, with $760,000 in the last 12 months. Projected sales for the current year were $1.2 million, with a 25% profit margin. The kit cost $60 to produce and sold for $170, with the beard oil being the primary revenue driver. Mark opted out due to concerns about the company's rapid expansion, while Robert cited his lack of personal interest in beards. Lori felt the market was too limited for her and Kevin dropped out due to valuation concerns. Daymond also declined due to valuation, leaving Eric without a deal.

The third presentation was for "SingTrix," a karaoke system featuring pitch correction and vocal effects. John Devecka and Eric Berkowitz sought a $1.5 million investment for a 5% stake in the company. The system was priced at $345, and sales over the last six months amounted to $1.2 million. Manufacturing costs were $150, with a wholesale price of $265. The entrepreneurs had a potential licensing deal with a consumer electronics company and anticipated selling 30,000 units that year. Mark expressed doubts about the sufficiency of $1.5 million for marketing and supporting sales through the licensing deal, leading him to bow out. Kevin made an offer of $1.5 million for 50% equity, with adjustments based on repayment and royalties. Robert offered $1.5 million for 20%, while Lori proposed $1.5 million for 30% with similar adjustments. Daymond offered $1.5 million for 25% and provided PO financing. Ultimately, the entrepreneurs countered at 7%, causing Daymond to step back, and the remaining Sharks also withdrew their offers.

The final pitch was for "Myself Belts," a Velcro belt designed for young children, presented by Talia Goldfarb. Talia sought a $60,000 investment for a 10% stake in the company. The business had generated $205,000 in sales the previous year, with declining sales over the last three years due to the recession. Production costs ranged from $2.20 to $3.50, with a wholesale price of $8.45 to $9.45. Kevin pointed out that the kids' belt market was worth $100 million, and Talia's market share was extremely low. Lori opted out, criticizing Talia for not taking action to address the stagnant sales during the recession. Robert felt Talia's approach was too high-level for him and decided not to invest. Mark believed Talia lacked the necessary sales skills and declined as well. Talia then made a counteroffer of $75,000 for a 25% stake, which she later adjusted to 20% when Daymond expressed interest. Talia ultimately accepted Daymond's offer.

As an update from a previous episode, "Grace and Lace" by Melissa and Rick Hinnant, a fashion sock company, experienced tremendous success after partnering with Barbara. The company was featured in Cosmopolitan magazine, reaching 17 million readers. Sales had increased from $1 million before appearing on Shark Tank to $6.5 million within a year. Additionally, the entrepreneurs had opened two orphanages in India, providing a home for 100 children who were previously living on the streets.