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Shark Tank (2009)

Plot

Episode #9.15

Shark Tank

Edit

Summaries

  • An entrepreneur from New York City presents an innovative line of flatware, cups, and plates; the only airtight, self-sealing zip-top bag in the world made entirely of pure silicone with all the benefits of glass is introduced by an entrepreneur from California; an Arlington, Virginia, entrepreneur takes nap time to a whole new level; and an entrepreneur from Pennsylvania hopes to sell the Sharks on his non-toxic, super hydrophobic spray that repels stains.

Synopsis

  • In the Tank, several entrepreneurs pitched their innovative products and business ideas to the Sharks. Sharks attending are Robert, Barbara, Mark, Lori, Rohan Oza

    Kyle Donovan presented "iFork," a patented attachable plate, cups, and utensils set, with an existing presence in 500 Walmart stores and a retail price of $16. Kyle is seeking $100,000 for 5% equity stake in the company. Barbara extended an offer of $100,000 for a 20% stake, contingent on redesigning the plate to accommodate a standard cup. Kyle wants to be in the cups business as well. However, Mark disagreed with branching into cups and believed the real value lay in the plates, urging Kyle to focus on them. Lori bowed out due to marketing concerns, and Rohan also stepped back as Barbara made a strong offer. Robert followed suit, leaving Kyle to negotiate with Barbara, ultimately settling for a 15% equity deal.

    Next up was Kat Nouri with "stasher," reusable silicone food storage bags featuring a unique pinch-lock mechanism. Kat is seeking $400,000 for a 5% equity stake in the company. The product had a wide price range of $10 to $20, with $1.6 million in sales over the past year. 50% sales are from online and 30% from Amazon, 7% from website. The product has a 63% margin. Net profit of $100,000 in the first year. Robert is out as he doesn't get the advantage of the product. Barbara is out as she doesn't like the packaging. Mark is a bit angry that Kat is not coming up ideas to improve her own product and wants the sharks to be her mentor. Kat wants to work with Mark at all costs. Lori and Rohan go out, even though they were thinking of an offer. Kat offer Marks 7%. Mark offers $400,000 + $400,000 Line of Credit for 20%. Kat gets him for 15%.

    Daniel Turissini introduced "recharj," a power nap center where customers could book naps online, but cell phones weren't allowed. Daniel is seeking $75,000 for a 15% equity stake in the firm. Machine washed daily, but cleaned after every use. The service costs $10/nap for 25 mins. Invested $90,000 and took a $150,000 loan to finance the business. 12-13 beds in 1 facility till date. Sales of $130,000 this year. Daniel takes no salary, and has a full time job. Has an employee. Has 40 contractors going door to door selling wellness services. Mark is out. Rohan is out as this is a high investment business. Robert is out as most people in USA don't have the luxury of leaving their job for 30 mins for a power nap. Lori is out as this is not a fit with her portfolio. Barbara is out as she doesn't think the business model is sustainable.

    The youngest entrepreneur of the night, 19-year-old David Zamarin, presented "Detrapel," a liquid fabric repellent with sales of $350,000 that year. David is seeking $200,000 for a 20% equity stake in the firm. The product was not patented but boasted a unique formula that did not contain chemicals or carcinogens. David had a shoe cleaning business in high school and did $2500/month. Sold the business for $150,000 and started Detrapel. Selling B2B, carpets, furniture. Sells for $13, costs $1.14. Mark offers $200,000 for 25%, contingent on David's formula passing muster from Mark's Nano teams. Lori offers $200,000 for 25%, contingent on testing passing. Rohan offers $200,000 for 25%. Robert & Rohan join to offer $200,000 for 23%. Mark & Lori join to offer $200,000 for 25%. Barbara is out. David goes with Mark and Lori.

    In an update on a previous episode, Harriet and Patrick Mills had secured a deal with Kevin for their art class franchise, "Wine & Design." In just four months, they expanded to eight more franchises, amassing $3.5 million in sales. Their franchise was 100% women-owned, showcasing their remarkable progress since their Shark Tank appearance.

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