On last night's edition of "Shark Tank," the sharks; Kevin O'Leary, Barbara Corcoran, Daymond John, Robert Herjavec and Mark Cuban were judges and jury for entrepreneurs looking for an investment in their companies.
The first was a woman selling her idea of "Gotta Have S'More." She hates camping, and wanted to show her twist on a camping favorite; the smore. Her sales were estimated at $165,000 projected for the year. The product is called "S'Muffin." The price of $60 per box was outrageous, but she called it the next dessert craze. The problem is, to ship these; the shipping cost is outrageous. No sharks bit on her idea.
In season three, a man who invented the "Invis-A-Rack," did not make a deal with the sharks. For an update, he made a licensing deal with a company in Iowa called "DeeZee," and his sales have boomed, and more Americans are at work because of his awesome idea.
Next, two brothers came to meet with the sharks to hawk their sushi restaurants called "How Do You Roll?" They are seeking a million dollars for a 12% stake in their corporate business. Their restaurant is a fast-food sushi place where a franchise can be purchased for about $300,000. There a person walks in and chooses how they want their sushi made, then it is made right before their eyes like a sub shop would do. Kevin O'Leary, aka Mr. Wonderful offered them a million for 22% of their business. Kevin stated that he wanted a stake in his investment and would bring a wealth of franchise experience to them, that would be invaluable in the future. Kevin dropped his offer to 20%, and they accepted his offer.
Next was a woman who was founder and CEO of "Pretty Padded Room." She asked for $100,000 and 30% of her business. This service avoids a psychiatrist and provides licensed therapists who can be accessed from anywhere in the world. It makes therapy sessions easy for the client. It is accessed by either virtual session or online digital diary. She had very little grasp on the exact figures her business generated; she got some good information from Barbara; find a numbers person to get for a partner. They all admired her passion and intelligence; however, no sharks would take the bait.
Next into the tank was a group of kids called, "The Inventioneers." Their cause was to solve distracted driving by teenagers who take their hands off the wheel for various reasons. They invented the "Smart Wheel," a prototype right now, but they need "Shark Tank," money to get this product on the road where it belongs. President Obama endorsed this product and told these kids that he would like to use this when his girls are old enough to drive. The item will bring a report back to the parents if the driver takes their hands off the wheel or is distracted in any way. Mark Cuban offered them the $100,000 for a 30% stake in the invention, with the contingency that they present this to the car companies to design and implement this item into their plans, rather than have the "Inventioneers," attempt to make the product themselves. Robert Herjavec partnered with Mark in the venture, and the kids were thrilled that they were respected and treated like adults on "Shark Tank."
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