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Kevin and Melissa Kiernan

December 30th, 2014 by

BEST PART OF THE PITCH: The Kiernans have been dealing with the issue of disappearing garbage can lids. This has led to numerous raccoons tearing through their trash. Retail stores want you to buy the entire trash can, so they don’t sell lids separately. That’s why Kevin created a water-resistant fabric replacement cover for the cans. The Last Lid clips to the handle and the couple claims their product is raccoon-resistant. They have no sales, but there are also no universal garbage can lids out there.

DO THE SHARKS BITE? Robert has no interest in this product. He’s out. Lori loves the passion Kevin and Melissa exhibit, but she can’t invest. Kevin doesn’t like the numbers regarding how much it costs to produce, what the retailers will need and the selling price. He’s out. Mark thinks this is a good product, but doesn’t think it is ready to blow up the marketplace. He’s out. That leaves Daymond.

THE RESULT: Daymond doesn’t like the $200k value attached to a company that has no sales. Kevin offers to raise his equity. Daymond will give him one shot to give him a good number. The offer is for a 60% stake, even though Melissa was thinking 50 would have been fine. Daymond accepts the offer largely because he found himself looking for a garbage can cover a month ago. Robert says he would have sold him one for a lot less than $40,000!

Talbott Teas

December 15th, 2014 by

Talbott Teas is designer whole-leaf teas and accessories that are steeped in style. There are 23 blends in this affordable, daily indulgence. The guys had $100,000 in sales in 2009. That grew to $350,000 in 2010. They were at $500,000 for 2011 before hitting the 4th quarter. They had a spike in sales after being declared one of Oprah’s Favorite Things. They’ve been on QVC and want the Sharks to help them capitalize their growth. They have a 50% profit margin before they pay themselves. They’ve invested $300,000 of their own money and believe they can grow the company to eventually sell it for millions.