Shark Barbara landed two deals in this episode.
The first was the winner of The Best Deal of the Episode…..Holly from Fried Green Tomatoes. This one was right up Barbara’s alley. She loved Holly and she’s had good luck investing in food companies. Holly had annual sales of $268K with one food truck. Barbara offered $200K for 30% equity and got the deal despite Shark Daymond offering the same amount for 25% equity.
This was a good deal for both Barbara and Holly. They will make a great team.
Best of the Rest……Emily from Mural Painters sells large mural projects and then hires the artists to paint/create them. At one time Emily was a high school dropout. She has overcome lots of challenges and has managed to build a company with $800K in sales.
Shark Lori came up with a great metaphor that she used to describe Emily’s determination. “The strongest swords are forged in the hottest fires”.
Shark Barbara suggested that Emily concentrate on one city (like NYC) rather than spread out across the country prematurely. Barbara got the deal by offering $100K in cash and a line of credit of $200K for 15% equity.
Mollie and Bob from Little Burros have invented a “storage unit” that sits on top of a wheelbarrow that allows people to put their tools and personal belongings in it while working in the yard. They had YTD sales of $400K and came into the tank asking for $250K for 10% equity. They received a couple of royalty-based offers from Mr. Wonderful and Lori, but had to turn them down. The royalty payments would have hurt their margins and cash flow too much. No all-equity offers were made.
LaDonte from Jiggaerobics has leveraged his dancing skills to create a company that helps people get in shape and have fun doing it. With just $62K in sales it was too early for a Shark Tank appearance. No deal here.
OVERALL RATING OF THIS EPISODE…………………………………..B-