Get Caught Up!
Here is a quick recap on what went on in the tank on Friday night:
Curt Campbell from Egg Harbor, Wisconsin, stepped into the tank first looking for a 500K investment for 35% of his business. After taking a trip to Poland and spending a great deal of time in fantastic olive oil boutiques, Curt and his lovely wife decided to take the idea back to America. The couple has 6 franchises and has done nearly 3.1 million dollars in revenue. With high margins, the Campbell’s need to scale their olive oil business with the help of a shark.
Robert: “isn’t sure if its ready to scale” He was out.
Lori: “concerned that he isn’t up for the stress” She was out.
Barbara: “doesn’t think he’s cut out for franchise” Barbara was out as well.
Kevin: “not investable” Mr. Wonderful was out.
Mark: “don’t see himself being a partner in this sort of business” Mark was out.
Really admire and appreciate the hard work that Curt has put into the Oilery. Mark and a few other sharks only had the best things to say about Mr. Campbell and his business. Best of luck to Oilerie!
Josh and Sarah were up next in the tank, looking for a 400K investment for 10% of their business. When the couple got married, they created a website for their friends and family to donate to their honeymoon. Instead of receiving countless toaster ovens, the couple raised 5K for their honeymoon. After the success they found on their own, Honeyfund was created. The website is a hub for couples looking to have their honeymoon funded, and the company is growing exponentially.
Lori: “I think crowd funding is crowded” She was out.
Mark: “thinks the business is on the autopilot” Mark stepped out.
Robert: “thinks they’ve done a phenomenal job at branding”, offered 500K for 50%
Barbara: liked them a lot, offered “400K for 30%”
Kevin: wanted 1/3 of the transactional fees until he is paid 1.2M
Deal with Mr. Wonderful! 1/3 of transactional fees until he reaches 1.2M
Friends Phil and Jason from Emergensee were up next in the shark tank. The idea? Emergensee is a mobile technology that turns your tablet or phone into a personal security system. With a touch of a button, the app begins recording and send notifications instantly to roommates, family, and Emergensee’s own back-end security system. The company is currently working on getting the application on university campuses’ all across the country.
Mark: “Have to know the technology in and out” Mr. Cuban was out.
Barbara: “I don’t have the faith that this business with work” She was out as well.
Kevin: “I’m not going to be part of this journey” Mr. Wonderful wasn’t interested.
Lori: “Not sure if it’s being executed properly or not at this point” Lori was out.
Robert: “not the two guys to execute this” He was the last shark out.
Overall, the sharks were hesitant due to the lack of knowledge involving the technology paired with the small cash flow. Really great idea and the sharks agreed that the app was a great way to keep people safe. Sounds like the sharks gave Phil and Jason some great feedback on what they need to do and know in order to take their Emergensee to the next level. Great pitch from Emergensee!
Justin, Aimy, and Brad were up last in the Shark Tank on Friday night. Seeking 200K for 10% of their business, the team pitched a whole new way to party, BeatBox Beverages. Justin’s company is not just a box, it’s an experience. With almost 7 bottles of wine in one box, BeatBox Beverages is a “party in a box”. The company is looking to compete against boxed wine companies with a new and inventive way to party with friends. In one year, BeatBox Beverages did 235K in revenue and were looking for a shark to scale the business. The team isn’t selling wine, they are selling fun!
Barbara: 400K for 20%
Kevin: 200K for 20%
Mark: 1M for 33%
Robert and Lori: Were both working on a deal while BeatBox Beverages struck a deal with Mark.
Deal with Mark Cuban! 1M for 33%
Make sure to tune in to Shark Tank on ABC this Friday, October 31st at 9/8CT!
Photo’s from ABC’s Shark Tank.