This episode featured products such as mud from Alaska, wood-grained surge protectors, school locker dividers, and balloons…….not a thrilling product line-up! Actually, the highlight of the show was an update on Tom + Chee from Season 4. They have doubled their employee headcount and have sold 3 new franchises. Shark Barbara even had a sandwich named after her…..The Barbara Blue!
These guys won my top Sharky Award for the Best Presentation by an Entrepreneur in Season 4 (see the “Best and Worst of Shark Tank” at http://sharktankseason3.wordpress.com ). As I indicated in my original analysis, these guys can “eat Subway’s lunch” if they continue to execute.
A quick review of tonite’s show…… Lauren from Alaska Glacial Mud Co. is an impressive young lady who is a commercial fisherperson in Alaska. She sells mud from a river bed that exfoliates the skin. She had only sold $36K of her product and was too early to get an investment. She’ll need to build her brand before returning to the tank.
Mike and Bryan from InvisiPlug sold wood-grained surge protectors for $14.95. The guys did a pretty solid job presenting. They got an offer from Shark Lori that included paying her a royalty in perpetuity. I’m not a fan of royalties with no termination point so I can’t give a Sharky here.
Greg and Stephen from Locker Bones gave a very confusing presentation. They didn’t appear to have a marketing plan or strategy. In two years they have only sold 500 units to one school. They needed to make their locker dividers in plastic instead of wood to fulfill larger potential orders. Somehow they received a $175K investment from Lori and Robert. I honestly don’t know how they pulled it off. Lori and Robert must have confidence in their ability to get this into Staples and/or QVC.
Ben from Balloon Distractions was a great salesman but not a very good sales manager. One thing he did well was present each of the Sharks with a cute, custom-made balloon hat or gift. That was the highlight of his presentation. He had a bad business model (wanted to sell franchises instead of building his own infrastructure) and showed no expertise in hiring and managing people or partners.