This episode was re-broadcast on January 23, 2015.
Tonite’s episode featured four niche businesses with very little revenue. No Sharky Awards tonite!
The one that came closest to winning a Sharky Award for entrepreneurial excellence was Alvin and Ray fromSoapsox. Their product made it easier for parents to give their kids baths by replacing a wash cloth with a “plush-like” cartoon character or action figure.
Alvin and Ray gave a nice presentation and knew their numbers (cost to produce, profit margins, etc.). They had a very aggressive Sales forecast (going from $300K actual sales to $2.4 million next year) and a very rich valuation of $2.6 million.
They ended up getting two offers….one from Daymond and one from Lori/Robert for $1 million to buy the entire company. They turned down both offers. Since Alvin and Ray are early in their company’s life cycle, I can understand why they turned down the million dollar buy out, but I think they made a mistake…
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