BEST PART OF THE PITCH: Shane is a stay-at-home dad who has created a brand new kind of broom. There’s a built-in scraper the pops out of the bristles with the push of a button. Shane has a patent pending. There aren’t any sales yet because he’s only been working with prototypes. He’s asked business folks what they would pay for something like this and the prime number is usually $19.95.
DO THE SHARKS BITE? Barbara doesn’t think Shane’s the kind of guy who can go all the way with this thing. She’s out. Robert wants to license the product, but Kevin H. thinks you can make a fortune selling it directly to the consumer. Kevin O. wants to make money through distribution. He’ll give Shane $40k for 20%. He goes up to $50k when Kevin H. shows interest. Daymond offers $75k for a 33% stake to create an entire company. Kevin H. offers $50k for 25% because this product needs to go on TV. It’s a feeding frenzy!
THE RESULT: Kevin O. wants to go 50-50 with Kevin H., but that is not gonna happen. Robert then teams with Kevin O. with an $80k offer for a 25% stake. Daymond and Kevin H. team up to make the same offer. Kevin O. wants to talk to Shane’s wife, which causes Daymond to reduce his offer. Shane says if he goes back the original offer, they have a deal. That’s exactly what happens. Here’s hoping they all clean up!