Episode 9 Recap – 100th Episode Celebration
Here is a quick recap on what went on in the Shark Tank on Friday night! (11/14)
Storm Stoppers – 100K for 10%
John Smith from Orlando stepped into the Shark Tank first with his hurricane window protection business, Storm Stoppers. Looking for 100K for 10% equity in his company, John demonstrated his product idea and why he felt his company was worth the 1M valuation. Unlike traditional plywood, this product will actually protect your windows in violent hurricanes. Additionally, it looks much cleaner and is far easier to install than heavy plywood. In the 10th year of business, the company has done over 5.5M in sales collectively. However, John admitted to the Sharks that this year the company only did 200K in sales. The reason for John’s decline in sales is due to the business’ dependency on hurricanes.
Kevin: “Sales are horrific” – He was out.
Robert: “So many challenges” – Robert was out as well.
Lori: “Concerned about how sales dropped” – She was out.
Mark: “I don’t trust you in terms of sales abilities” – Mr. Cuban was out.
Barbara: “Relying on hurricanes” was tough for Barbara to let slide, she was out.
No deal for StormStoppers, great idea though!
Pipcorn– 200K for 10%
Siblings Jen and Jeff from Brooklyn, New York were up next in the tank. Looking for a 200K investment for 10% of the business, the brother and sister duo proposed their brilliant popcorn dynasty, Pipcorn. While working at a health food store, a farmer introduced Jen to a popcorn kernel that would eventually be the start to their business. The product is vegan, GMO-free, healthy, and is even popped in olive oil. Pipcorn has done over 200K in sales over the past year, and the product is located in about 40 stores across the states. Pipcorn was even featured in Oprah’s “favorite things” in 2013, adding credibility to the incredible company.
Kevin: “Didn’t know how he would get his money back” – He was the first Shark out.
Robert: Offered 200K for 10% to try to steal the deal from Barbara
Barbara: Offered 200K for 10%, with 10% compensation
Mark and Lori: No chance for these sharks as Barbara sealed the deal!
Deal with Barbara Corcoran, 200K for 10% (with a 10% compensation) Awesome pitch!
Squatty Potty – 350K for 5%
The mother and son combo from St. George, Utah were up next in the Shark Tank with their revolutionary bathroom product, Squatty Potty. Bobby and Judy Edwards created a product that provides the healthiest way to use the bathroom. The Squatty Potty aligns your colon and keeps you comfortable! While 2/3 of the world squats while using the restroom, Squatty Potty now provides a product that mimic’s this posture. We learned that the company did 1M in sales the first year, 2.7M the second year, and already has done over 2M in the first 2 quarters of this year alone! What was most impressive about Squatty Potty was that the company has made 100% of revenues from their website and Amazon. Not to mention, the product price starts at $25, and only costs about $4.5 to make. Incredible idea and a great team!
Kevin: Offered $350K for 10%
Robert: “I just don’t see it” – He was out.
Lori: Offered 350K for 10%
Mark: Thought Bobby was “Speaking out of both sides of [his] mouth” – He was out.
Barbara: “Something about him makes her nervous” – She was out.
Deal with Lori Greiner, $350K for 10%. Congrats to Squatty Potty!
Heidi Ho -125K for 20% equity
Chef Heidi from Portland, Oregon was the last contestant to step into the Shark Tank on Friday night. Heidi created a vegan cheese (yes you heard me right) and calls her company, Heidi Ho, “the future of cheese”! Heidi explained that her organic cheeses do not involve dairy of any kind and removes all problems of eating regular, fatty cheeses. Right now, the company is primarily sold in Whole Foods across the states, but she is looking to be in over 400 stores by the end of the year. With 147K in sales this year, Heidi was in search for a Shark to help her scale her business.
Kevin: “Could never do this deal” – He was out.
Lori: Offered 125K for 30%
Deal with Lori Greiner, 125K for 30%. Congrats Heidi Ho!
After Lori made an offer, she reminded Heidi of the risks of waiting to hear from the rest of the Sharks as the offer could potentially no longer be available. Heidi ignored the risks only to find the rest of the Sharks “jumping out” quickly! However, Lori was kind enough to still keep the offer on the table as Heidi quickly accepted.
The celebration of the 100th Episode of Shark Tank was a fantastic one. All of the Sharks took a minute to recap the past 6 seasons and acknowledge the fun times along the way. It was noted by the Mark that Shark Tank is a “spark” for young and talented entrepreneurs. Also, it can’t go without mentioning the endless laughs in remembrance of all of Kevin’s royalty deals. Overall, really fun night in the Shark Tank!
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Photo’s from ABC’s Shark Tank.