Lively show tonite……two contestants stood out and are the clear winners of this episode’s Sharky Awards.
Jim from The Wall Doctor Rx has created a very simple product that allows anyone to repair holes in walls for very little money. He had three patents and had a some impressive sales history. He was forecasting sales of $500K to $1 million in sales for the next year. Jim knew his costs and profit margins and was very impressive. The Sharks swarmed and fought for a deal.
He had some interesting options including Lori’s offer to make an infomercial featuring his products. He ended up taking Robert’s offer that called for Robert to have exclusive rights to all international sales. He tried to convince Lori and Robert to get together (“they could be like Batman & Robin” he said afterwards) but they refused.
Brian and Julie from Groove Book ended up doing a deal with Mark Cuban and Mr. Wonderful. Their product allows people to have photo album’s made from pictures on their smartphones. Their prices are low ($2.99 per month) and their proprietary printing technology (the grooves make the paper flexible) allows them to ship the albums very inexpensively.
They had an interesting, unique product, had 18,000 subscribers, and were totally passionate about their enterprise. They had invested $400K of their own money to get their business off the ground. All the ingredients for a successful business were there, and it paid off for Brian and Linda. They will do well.
Shark Chum……Thomas from Bounce Boot Camp had a nice business but it was simply too soon for him to seek outside investment……he hadn’t sold a single franchise and his local sales were too small. He received some great guidance from the Sharks that will allow him modify his business model and build a successful business.
CJ from Eyebloc created a plastic piece that covers the web-cam on a laptop or tablet to improve security and privacy for the end-user. CJ has a great sense of humor but limited sales. All I could think of during his presentation is that he should team up with Moshe from Soundbender (a previous Sharky Winner) who had a somewhat similar plastic product for enhanced sound from an iPad. I’m surprised Daymond didn’t see this opportunity since he was the one who backed Soundbender.