Shark Tank Sinks Their Teeth into The Painted Pretzel, Readerest, 5 minute Furniture and Esso Watches
The sharks left Nothing unsaid this episode calling one product a scam and threatening Kevin (the devil) physically if he invested, while telling another he couldn‘t be trusted. My favorite was definitely The Painted Pretzel (Yummmm) just seeing them and listening to the sharks after tasting them made me drool
First to Try and Get the Sharks to Swallow the Bait
Jared Joyce with his invention of the 5 minute furniture who is looking for a $250,000 investment for 25% of the company. He started off by showing the competitions instructions and bag of goodies needed to put together tables, book cases, etc. When he showed how easy it was to put together his by just sliding the pieces together without all the hardware it would make anyone who has ever put one together impressed.
Kevin wants to know his sales (which were 0) and if he just wanted to look at a licensing perspective. Surprisingly that is not the case at all. In fact when Mark digs a little deeper they find Jared has a research and development company with investors coughing up in excess of a million dollars in the last 7 yrs of which they have not received their money back. Hmmmmmm Shocking but Mark is out.
Daymond wants to know why he would only be getting a part of the one product and not the other 80-90 things he invented Jared responds by saying that would be like asking me to get married before you at least bought me a drink. (OK I think that was a little out there) Daymond tells him he is pretty slick and is out.
Robert expresses what a HUGE HUGE concern it is for his investors to get their money back. He really likes the product but doesn't trust him and is out.
Lori will give him the money if another shark goes in with her but she wants 100% of the patents, etc., and him to walk away. (Gee I wonder why) Kevin agrees to the offer telling him he is like the roach motel. After Jared tries to at least get some royalties from the product the sharks hold steady and Jared rejects the offer.
OK this is one deal I'm really sorry didn't go down because it would of made a lot of peoples lives easier when it came to putting furniture together. I Googled and all I could come up with was the video and that's not really great (Oh well Next)
An Update on The Man Candle
Last season even though he didn't get a deal with the sharks, Johnson Bailey and The Man Candle has gone from doing 70k a year to over 250k. He now has several employees, really feels like a CEO and the best part is he gets to give a little back.
I mean honestly how could it be helped when you have candles that smell like BBQ, pizza, beer, roadkill (for your favorite boss/kidding of course), a football, and yes even the famous fart candle
Congrats on the hard work and it just goes to show you that even sometimes when they don't get a deal with the sharks the payoffs can be incredible
Next Up My Favorite
First off if your like Kevin (hopefully nowhere close) and think that just anyone can make these I assure you that's not possible. When someone puts their heart and soul into something it's just not replaceable. That's like telling my x-mother in law that her Italian style Thanksgiving dinner could be made at Publix and we can just go pick it up. (Love ya Carol and I have never had better feasts than yours).
Raven Thomas started making the painted pretzels after she left her career in criminal intelligence to be a stay at home mom and save some money on X-mas gifts. She received so many compliments and encouragement to keep making them that she started selling them. Now she cannot keep up with orders for $140,000, 64k, from several stores including Neiman Marcus, Sams, etc
This is not your everyday chocolate covered pretzel She covers them in different kinds of chocolate, nuts, butterscotch, crushed candy, OK I have to go wipe the drool from my face now. As the sharks are tasting you hear everything from " Oh WOW", to "These are fantastic"
Kevin of course starts off with if I take this tin of pretzels and 400k I can get anybody to make them, there is no privilege Robert informs him this is not a computer business and Mark tells him how she puts her heart and soul into these. When Kevin pops off with that's bull, Mark quickly lets him know that's why nobody that goes with him stays working for him because he's an SOB to work with (Ba Bam !!!)
Before you know it Marks talking about putting them at the Mavericks games and in Landmark Theaters (which he owns), offers her the 100k for the 25% and it's a done deal.
Robert was I think kind of dumbfounded as he commented about there was no negotiations, no nothing, she got exactly what she was asking for. Sweet (no punt intended) I wonder if they do overnight delivery???????
You Be the Judge
Scam or Just the Negative Ions Talking
Let the teeth be sharp and white because the sharks are about to bite. Ryan Naylor is the founder of Esso Watches, a silicone watch with negative ions infused in it, and is asking for a $35,000 for a 20% stake
When Ryan starts his presentation he starts explaining how all the positive ions we get on our body from florescent lighting, computers, etc.is to much and the negative ions are needed to balance it out. Kevin states he is concerned, wanting to know if this is a real health concern, because it sounds like a coffee enema, (a coffee enema???).
He explains that this ion balance affects several different aspects of our body and asks for a volunteer to demonstrate. Lori volunteers and looks a little shocked at the difference in her ability to balance on one leg with and without the watch.
When Ryan begins to hand out a few of the watches he brought for the sharks, Mark states "No go ahead you keep it" and refuses the watch. Robert asks him if he's allergic to positive negative ions, and he replies, "No I'm allergic to scams." (Ouuchhh) He also goes on to say how this is nothing new and has been around for awhile It has been dis proven, a joke, a scam, and he is out
All Kevin wants to know is if he is selling any which Ryan proclaims a 10k investment has brought 120k in sales in the last 12 months of which 70k is profit. You can see Kevins eyes light up and the blood boiling right through his bald head. Then when he finds out he gets his customers for free I think he's having a moment.
Lori wants to know if there is any independent lab studies proving these benefits. Of course there is not as Mark belts out a few Hell No's. Robert questions lab testing and Lori explains to get it on tv you need the testing otherwise FTC will be all over you.
After Daymond asks who designed the watches and Ryan states he did, Daymond states he sells watches with the same design and is out
After going back and forth between the sharks they literally left little meat on the bone while ripping him apart. Mark literally told Kevin if he invested his money he would personally come over and beat the crap out of him
Needless to say Ryan left without a deal.
Hold on just one minute Mr Mark Cuban I seem to remember doing a write up on the show last season (just click here for more info) where you invested your money in a company targeting stay at home moms and day cares. You and the sharks called them extortionists and loan sharks but were so eager to invest your money. I'm sure it's much easier for you to take $150,000 (30k initial investment, $1000 monthly royalties minimum, 10 yr commitment) from a stay at home mom for a cd, some pictures and some help setting the "children dance video" in place, than to watch someone who pays $7.00 for a watch that gives them better balance (even if it is a placebo affect)
I may call Kevin the devil instead of his self proclaimed Mr. Wonderful, but at least you know where he's coming from
Finally Something to Hold My Glasses In Place
Rick Hopper and Readerest are the definite solution if you've ever walked around looking for your glasses in a tizzy, only to look in the mirror and see them sitting on the top of your head (you know you've done it). Or smacked yourself in the face with the granny glass holders or the best is when your working outside and come in to plop on the couch forgetting there in your back pocket. (You have to go to the er to get what out of your bottom???)
He is looking for a 150k investment for a 15% stake in the company Although after some research he found out he was not the first to think of the idea he did purchase the patent for $5000 If you watch the video you will see that it is basically two pieces of stainless steel with different designs that are applied to the inner and outside of your apparel and you just slip the glasses in. You can bend over, fall down, jump around and they stay in place.
Rick has had 65,000 in sales but then had to go back into production because he makes them all himself. He has glued over 160,000 magnets. I'm tired just thinking about it.
Daymond doesn't like the million dollar evaluation of the company when he paid 5k for the patent and would need his information and connections to make it work, so he is out.
Lori will give him the 150k but wants 65% of the company letting him know he needs this on tv and not sitting on shelves to die in the stores. Robert agrees with her evaluation and is out, along with Kevin Rick wants to hear from Mark but Lori wants an answer first
Lori lets him know that he will never have to glue another magnet again and she will make him a millionaire When Mark lets him know he is out Rick accepts the deal. Little does he know that after he left the tank Robert and Lori were talking about the business and Lori let Robert know she has sold over 21 million in glasses. Smart move Rick
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