Lots of clever products in this episode……. sleep-over camp for adults, a car condom (Mark Cuban’s description!), and digital pin ball machines.
The star of the show and this week’s Sharky Award winner was 15-year-old Rachel from Gladiator Lacrosse. She absolutely crushed it!
Sharky Award–Gladiator Lacrosse
Rachel has developed two products that can help lacrosse players improve their games. She’s had $300K in sales, but that wasn’t the most impressive part of her presentation. With poise and confidence, this young lady ran through her schedule of a typical day. It started at 6 am and went late into the night . It included school, lacrosse (she was the captain of her team), studying, and using every spare moment to run her business. Great time management skills!
I was shocked that the Sharks didn’t make any offers. I predict great things for Rachel.
Best of the Rest………I liked Adam from Camp No Counselors. He will do about $800K in revenue this year and his company is cash flow positive. He charges an average of $478 for each person attending his camps. The average age of the campers is 30 years old. That said, Adam couldn’t convince the Sharks that he needed money to scale his business rapidly. I think if he had come into the tank with a breakdown of how he would use the money, he could have gotten a deal.
Mathew and Kenny from EVP created a car covering to protect cars from storms, floods, etc. They had limited sales history, but did a deal with Daymond. “We’re going with Brooklyn!” they proclaimed as they rejected Mr. Wonderful’s old-school Royalty in Perpetuity (RIP) offer.
Brad from VPCabs made digital pin ball machines. He was a former IT systems integrator who applied his skills and knowledge to the pin ball industry. Brad claimed that going digital would save lots of maintenance dollars for the owners, but never quantified the savings and never explained why maintenance costs would be reduced. In spite of the fact that Brad had to pay a 15% royalty to the software developer on each unit sold, he got a deal from Daymond…..$200K for 25% equity.
OVERALL RATING FOR THIS EPISODE…………B-