- Two brothers and a friend originally from Nepal, India now living in Mukilteo, WA, hope the Sharks will make their American Dream come true by investing in their yak and cow milk dog chews; and two women from Brooklyn, NY ask the Sharks to pucker up and invest in their organic and colorful lipsticks. Also, an update on Peter Ferriera, Dennis Iannotti and Neil Cameron from Pawtucket, RI and their Nuts N' More high protein organic nut butters that Robert Herjavec and Mark Cuban invested in during Season 4.
- In this episode of Shark Tank, several entrepreneurs presented their business ideas to the sharks: Mark, Daymond, Kevin, Lori, and Robert.
The first pitch was for "Himalayan Dog Chew," a company founded by Nepalese brothers Suman, Nishes, and Sujan Shrestha. They offered $750,000 for a 5% stake in their business, which manufactures high-nutrient dog treats made from specially processed yak cheese sourced from Nepal. The company had impressive sales of $5.6 million the previous year and was projected to reach $8 million in sales this year. Mark decided to opt out, believing that the brothers didn't need the sharks. Lori and Daymond also declined to invest. However, Kevin and Robert offered $750,000 at a 10% interest rate for three years, along with 10% equity. Lori joined their offer, increasing the equity to 15%. The negotiation continued, with the entrepreneurs seeking more money in exchange for additional equity. Eventually, Lori and Kevin withdrew their offers, leaving Robert as the sole investor. However, the entrepreneurs declined Robert's final offer of $750,000 for a 15% stake.
Next up was "The Lip Bar," a business founded by Melissa Butler and Rosco Spears. They presented a line of lipsticks in nontraditional colors. Ask is $125,000 for 20%. The company had achieved sales of $107,000 over two years, with $8,000 in sales in the previous month. The lipsticks cost $3 to produce and were sold for $20 each. The entrepreneurs also offered a service on their website where customers could mix shades and create a custom color for $32. Robert was the first to opt out, expressing his dislike for the branding. Kevin followed suit, stating that the market was highly competitive. Daymond and Mark also decided not to invest, with Daymond citing similar concerns about the competitive nature of the industry. Lori declined due to the strong competition as well.
The third pitch was for "BeverageBoy," a floating beverage Koozie presented by Kevin Waltermire. He sought $50,000 for a 15% stake in his business. The product had sold 2,500 units, generating $10,000 in sales over six months. The cost to produce the Koozies was $2, and they were wholesaled for $5 and retailed for $10. Kevin had attended a trade show but forgot to bring order forms, which resulted in no immediate sales. Mark and Kevin decided not to invest, with Mark expressing his lack of interest and Kevin criticizing the product. Robert also declined, citing the lack of sales. However, Lori saw potential for the product as a promotional item and offered $50,000 for 40% ownership. Daymond made a matching offer of $50,000 for 40% and successfully negotiated Waltermire down to 35%.
The next entrepreneur to pitch was Bobbie Rhoads with her business "FunBites." The company offered plastic devices for cutting food into fun shapes, targeting picky eaters among children. Rhoads sought $75,000 for a 20% stake in her business. FunBites had achieved sales of $400,000 over three years, with $150,000 in the previous year and $40,000 in the last three months. Costs $1.72, wholesales for $6, retails for $13. They recently got into Target. The company recently made packaging changes based on retailer feedback and had attracted interest from Disney for licensing Marvel characters on the packaging. Kevin opted out, jokingly remarking that he would rather starve kids for two hours. Robert declined as he considered the competition to be a simple knife. Daymond offered $100,000 for a 30% stake, emphasizing the potential for licensing. Lori then made an offer of $75,000 for 25%. Daymond matched Lori's offer, and Rhoads ultimately decided to partner with Lori.
Lastly, an update was provided on the progress of Nuts 'n More, a peanut butter company pitched in a previous episode (Episode 418). The company, founded by Neil, Dennis, and Pete Cameron, struck a deal with Mark and Robert. Following their appearance on the show, Nuts 'n More secured a partnership with GNC, resulting in expansion to 2,000 stores. The company experienced substantial growth, going from $100,000 in sales prior to the show to $6 million in sales within two years. With the expansion through GNC, they were projected to reach $20 million in sales.
Contribute to this page
Suggest an edit or add missing content