If you just focused on the products on this week’s episode you would not be impressed. They included pizza, toilet seats, toilet paper, and brownies. If you looked at the entrepreneurs that offered them, you might be intrigued. None of them were impressive enough, however, to win a Sharky Award for entrepreneurial excellence.
First up was Thomas from Table 87 Coal Oven Pizza. Thomas was very passionate about his pizza business in Brooklyn, NY. He had developed a pre-cooked, frozen pizza-by-the slice product that could be sold in supermarkets, restaurants, bars, and other venues. Shark Lori bought into Thomas’s vision of world domination and made a deal for $250K for 18.5% equity. Lori had a vision, and I would never bet against her.
Brian from E Z PeeZ had invented a toilet seat insert for small kids. I loved the name, but Brian was a great example of a good sales person who tried too hard. For example, he had read all the Sharks’ books (this was a good thing), but when asked about his background , he tried to compare himself to each one of the Sharks individually. His answer was obviously scripted and went on way too long. He seemed like the stereotypical over-reaching salesman and didn’t get a deal.
Marquees and company from Brookies were a fun group who had only sold $14K of their combination brownie-cookie but had a lot of fun making them. They danced and sang while they were baking their brookies, but couldn’t convince the Sharks that they had a real business. They did, however, receive lots of good advice from the Sharks. They were told they needed to increase their prices by 100% (Mark Cuban), and cut the number of SKU’s (Stock Keeping Units) from hundreds to four (Mr Wonderful). This will help them increase their revenue and become profitable.
Sean, Ryan, and Jeff from Wipes for Dudes had created wet wipes for dudes to wipe themselves after pooping. On the strength of their deal with Kroger, they got a deal with Mark. I don’t know why men wouldn’t just buy wet wipes or baby wipes given the fact that they’re 50% less expensive, but the brand name may convince guys that there is a special product just for them.
Update: Season Six Top 5 presenter Roominate had sales of $4.5 million in one year after their appearance on Shark Tank. Good work Stanford ladies! See the Best and Worst of Shark Tank for more information on Roominate.