- A Dallas, Texas, real-estate broker's pitch leads to a battle of billionaires about his business model for a technology that makes house hunting more convenient; an impressive 10-year-old kidpreneur from Broomfield, Colorado, creates a lemonade-stand business to help other kids start their own businesses; and a mother from Allen, Texas, designs Made in America multi-functional covers for infant car seats.
- Sharks attending are Mark, Barbara, Kevin, Lori, and Chris Sacca
"Milk Snob," a soft baby stroller and car seat cover that also functions as a nursing cover, was presented by Melanie Disbrow. She sought $125,000 in exchange for a 5% stake. The product generated $1.2 million in sales within 18 months, with a selling price of $36 and a production cost of $7.6. Over the past five months, it achieved sales of $800,000. Chris offered $125,000 for an 8% stake, leading Mark to opt out due to the attractiveness of Chris's offer. Lori proposed a $125,000 investment for a 10% stake, while Kevin offered $150,000 for the same equity. Barbara decided to step out of the deal. Lori then increased her offer to $150,000 for 10%. As Melanie continued discussing the terms with Lori, Chris and Kevin withdrew their offers. Ultimately, Melanie accepted Lori's offer.
"Jack's Stands & Marketplaces" is a service that provides stands and training to young entrepreneurs for selling their products. Jack, a 10-year-old entrepreneur, presented the business alongside Steve Bonneau. They requested $50,000 for a 10% stake. The company currently operates seven locations, including two stands in malls and five franchised marketplaces in a farmers market. The mall stands generate $15,000 in total revenue, with rent calculated as a percentage. Jack's Stands & Marketplaces is projected to achieve $150,000 in sales this year, with $55,000 from stands and $95,000 from marketplaces. Under the franchise model, other kids pay Jack 50% of their revenues. Kevin opted out, emphasizing the importance of Jack's education. Mark decided not to invest since there were no proprietary aspects, and all locations were limited to Colorado. Barbara also stepped out due to ability to scale concerns with the business model. Lori withdrew for unspecified reasons. Chris offered a $50,000 loan at a 2% interest rate, allowing Jack to withdraw up to $10,000 at a time, and proposed starting a video podcast. Jack accepted Chris's offer.
"Chi'lantro" is a Korean BBQ food truck and restaurant presented by Jae Kim, who sought $600,000 for a 15% stake. The company operates a full fleet of food trucks and five casual dining restaurants. It achieved sales of $4.7 million last year, with each truck contributing $300,000 to $400,000 and each restaurant generating $1 million to $1.5 million. Jae aims to expand to 15 restaurants and reach $50 million in revenue. Chris decided not to invest as he focused on disruptive rather than growth opportunities in the food business. Kevin opted out due to poor margins in the restaurant industry and the critical importance of location. Mark, not having experience in the restaurant sector, also declined to invest. Lori stepped out without specifying a reason. Barbara made an offer of $600,000 for a 30% stake, leveraging her portfolio that includes Tom&Chee and Maine's Lobster. After negotiating, Jae and Barbara settled on a 20% stake for the investment.
"Toor" presented by Junior Desinor, offers a lock-box connected to an app that grants real estate buyers quicker access to properties. Junior requested $500,000 for a 10% stake. The lock-box, located at the front door of the property, can be opened or closed through the app and contains the apartment key. The product has not generated any sales yet but raised $100,000 on Kickstarter. The lock-box is priced at $200, with a production cost of $50 plus $25 for shipping and handling. Customers pay a monthly fee of $100 for the lock-box service. Chris pointed out that similar technology already exists in the real estate market, casting doubts on the novelty of the product. Lori decided not to invest, considering it too early. Kevin offered $100,000 for a 10% stake and an additional $400,000 as a loan at an 18% interest rate. Mark, not having a background in real estate, chose not to invest. Barbara joined Kevin's offer on the condition of a licensing deal with one of the major industry players. Chris decided to exit the deal as the product was already going to market. Junior negotiated with Barbara and Kevin, eventually settling on $200,000 for a 10% stake and a $300,000 line of credit at an 18% interest rate.
Update on "Rent Like a Champion" (Episode 704): Mike Doyle and T. Drew Mitchell closed a deal with Chris and Mark for their event-based home rental company. Sales increased from $2.3 million pre-Shark Tank to $5.46 million post-Shark Tank. Mark provided support in managing the back end, while Chris played a role in expanding into new markets, including golf tournaments.
Contribute to this page
Suggest an edit or add missing content