Season 4, Episode 1 – Season Premiere
I have always been intrigued by the idea of this show and finally sat down and watched it. I’m hooked.
Idea #1: Coatchex
Derek and his not present partner, his professor in college, are seeking $200,000 for 10% stake. He comes out enthusiastic and hyped up. Coatchex is a ticket less system. Instead of getting a ticket you may lose in exchange for your coat, your picture is taken and attached to your coat. You can also swipe your credit card and pay – super easy. Derek wants to franchise his idea. Problems – seasonal, people do not wear coats year round. Derek doesn’t have any clients, plus side he does own the patent on the system.
Sharks – Only Mark Cuban is interested. He offers $200K for 33% stake. Derek calls his partner. No deal is made.
Idea #2: Bev Buckle
Jake has a full time job to take care of his family, he seeks out bombs – think the movie Hurt Locker. In his spare time, he invented the Bev Buckle. You hook this buckle to your belt, it folds out and holds your drink. He is seeking $50,000 for 10% stake. He has sold 4000 units, but over a 4 year period. He does own the patent. He gives the sharks his lists of clients and people interested in the product. Problem, none of these clients have written checks. Jake has had a 26% defective stock – pretty high.
Sharks - Robert offers $50,000 for 75% stake – Way high. Kevin offers $50,000 for 12% royalty – not bad, but takes from your cash flow. Finally, Barbara offers $50,000 for 51% stake, taking control. Jake takes Barbara’s offer and she promises to make him a rich man.
Idea #3: Body WalKing
Todd is a certified masseuse and wants to walk on peoples’ backs rather than use his hands. He is seeking $100,000 for 10% stake. He gets Barbara on the mattress, he walks on her back, she likes it, but doesn’t know if it is the best idea ever. Problem – He has only trained like 4 people month and puts a lot of his time into training for marathons – rather than the business.
Sharks – No one was interested. No offers, no deals.
Idea #4: BuggyBeds
Maria and Veronica have been friends and partners for years. They have a great proposal and presentation and seek $125,000 for a 7% stake. Their product is the first of its kind and can early detect bed bugs – at home, in hotels – it is awesome. These 2 have been working and have deals with Home Depot and Burlington Coat Factory. They own the patent and have already rejected a $5 million deal to be bought out. They have a gold mine, I think! The glue trap sells for $6.99-$8.99 and only costs $1.35 to make. The ladies are asked to step out. The sharks talk. For the first time all sharks want in.
Sharks – Kevin, Robert, Mark and Daymond will put up $250,000 for a 25% stake. Barbara offered $150,000 for a 15% stake, then dropped her offer and went with the men. All sharks offered, collectively, $250,000 for 25% stake – offer excepted.