- Everything is made in America on this week's episode. Two young women model off their pretty, custom recruitment clothing for sororities which is expanding into a bridal line-but will the Sharks "rush" to make a deal? Also, a native New Yorker showcases his simple tools that easily open a Thai coconut and extract the meat; a salesman from Chattanooga, TN touts the invention that can transform any pickup truck into what he calls "a Truck-U-V," by adding seats in the flatbed to accommodate more passengers.
- In a recent episode of Shark Tank, several entrepreneurs presented their businesses to the Sharks in hopes of securing an investment. Sharks attending are Mark, Barbara, Kevin, Lori and Robert
The first pitch was for "Coco Jack," a set of tools designed to make it easier to open Thai coconuts and extract the meat inside. Dave Goodman sought $125,000 in exchange for a 10% stake in his business. With $325,000 in online sales within nine months and a selling price of $60 per set (with a production cost of $26), the product showed promising potential. However, Barbara decided to pass on the opportunity due to Dave's lack of organization, and Lori didn't see it as a mass-market product. Robert couldn't envision the next steps, but Kevin offered $125,000 for a 50% stake. Mark, on the other hand, proposed a different deal, providing $125,000 as venture debt with a 7% interest rate, which would convert to a 25% equity share. After some negotiation, Dave accepted Mark's offer at a 25% equity stake.
The second pitch was for "BedRyder," a product consisting of seats with restraints that can be installed in the bed of a pickup truck, allowing passengers to legally ride in the truck bed. George Conway sought a $200,000 investment in exchange for a 15% stake in the business. Although he had sold 800 units online over four years, the product had not undergone legal testing. George also paid $100 per unit in sales commissions to his 800 customers. With a selling price of $700 and a production cost of $300, the product had potential profitability. However, Lori saw liability issues, Kevin didn't believe in the product, Mark doubted its sales velocity, Robert considered it too expensive, and Barbara didn't trust George. As a result, none of the Sharks made an offer for this opportunity.
The third pitch was for "Frill Clothing," a company that designs and produces custom clothing for college sororities. Kate Steadman and Sharon Bui sought a $100,000 investment in exchange for a 20% stake in their business. They had successfully tapped into a market of 3,127 sororities across the United States, with a skirt costing $24 to produce and selling for $60 to $70. They had generated $400,000 in sales since their launch, with $149,000 in sales in the previous year. Notably, 70% of their sales occurred between February and May. They offered unique designs, guaranteeing that no other sorority would have the same clothing. Mark wasn't interested in the fashion industry, but Barbara, Kevin, and Robert each made an offer. Barbara and Kevin teamed up to offer $100,000 for a 33.3% stake, while Robert offered $100,000 for a 20% stake. Eventually, Kate and Sharon accepted Barbara and Kevin's joint offer, giving them a 30% stake in the company.
The final update mentioned in the episode was about "The Twin Z Pillow," a specially designed pillow to aid mothers of multiple children in feeding two babies simultaneously. Michelle and Jason Barsosky sought a $75,000 investment for a 10% stake in their business. They had achieved sales of $510,000 in the current year, with a selling price of $100 per pillow and a production cost of $29. They projected sales of $1.2-1.5 million in the following year. While Mark loved the story behind the business, he didn't find it a good fit for him. Kevin, Robert, and Lori each made offers, but Barbara offered $75,000 for a 20% stake. Eventually, Kevin and Robert collaborated to offer $150,000, with $10 per unit until $450,000 was repaid and a 2.5% equity stake. Lori, on the other hand, offered $75,000 for a 20% stake. After a counteroffer from the couple, Lori and Barbara agreed to invest at a 15% stake, and the entrepreneurs chose Lori as their partner.
Additionally, an update was provided on "Mo's Bows" from a previous episode. Moziah Bridges, the young entrepreneur behind the business, had secured a mentor in Daymond John. Following his appearance on the show, Mo's Bows experienced a significant increase in sales, jumping from $55,000 before Shark Tank to $200,000 within seven months after the show. With Daymond's assistance, Mo's Bows also secured a manufacturing partnership with Stewart and Co. Furthermore, Mo's Bows gained entry into high-end retailer Neiman Marcus. It's worth noting that the featured products in this episode were all proudly made in the USA.
Contribute to this page
Suggest an edit or add missing content