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Shark Tank Recap – March 9
Below is a recap of the March 9, 2012 episode of the ABC show Shark Tank (episode 306). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.
The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.
Don’t forget to check out our previous Shark Tank recaps.
Pitch #1 – The Original Profender
Tony Devin brought his creation into the Shark Tank seeking $75k/15% of the company. The Original Profender is basically a mock human that can be raised up or down/left to right by a basketball coach to help players learn how to shoot over a defender. The price of the Original Profender is $499.95.
Unfortunately Tony left the tank without a deal.
Pitch #2 – Nardo’s Naturals
The Mastranardo Brothers were up next with their line of organic skincare products under the brand name Nardo’s Naturals. The brothers were seeking $75k/12% of Nardo’s Naturals. When asked about sales, they explained that they have $30k in sales since 2009. Kevin O’Leary said there is nothing proprietary about the products and he didn’t care for the packaging.
Barbara Corcoran offered $75k for 50% of the business with the contingency that the brothers change the company name. The brothers accepted the deal – oddly, the company still uses the same name today so maybe the deal never came to fruition or Barbara backed down from her contingency requirement.
Update – Pork Barrel BBQ
Pork Barrel BBQ was on season 1 and signed a deal with Barbara for $50k. In the update they opened their full service restaurant in Arlington, VA. The 2 founders noted that they are sold in many stores nationwide and have had over $1 million in sales since their Shark Tank appearance.
Pitch #3 – Rent-a-Grandma
Todd was the third entrepreneur to enter the tank with his concept, “Rent-A-Grandma”. He was seeking %150k for 20% of the service. The concept is that instead of hiring a teenager to babysit, you can rent a grandmother. Todd noted that he has had $25k in sales YTD. Unfortunately Todd left with no deal from the sharks.
Pitch #4 – Litter Body Jewelry
Last up were sisters Rachel Mann and Mackenzie Burdick with their homemade jewelry business, Litter. They were seeking $80k for 51% of their business. They sold $78k last year and are on track for $150k this year.
Damond offers $80k for 70% of Litter and he will allow the two women to buy back to their original requested amount listed above and he will also pay them salaries. Mark Cuban joins into Damond’s offer and says he will handle the website and Damond will handle the production.
Kevin O’Leary offers exactly what Rachel and Mackenzie wanted with $80k for 51%.
Rachel and Mackenzie shake hands with Damond and Mark for the deal above but at 70% of the company.