‘Shark Tank’ premiere review: Coatchex, Bev Buckle, BuggyBeds, and moreby September 14, 2012
Are you ready to dive back into the “Shark Tank“? Let’s hope so. Our favorite guilty pleasure show of anything on network TV is back, and there was plenty of entertainment to go along with it:
Coatchex – Derek is a pretty young guy, but he had a pretty cool idea: a product that really could revolutionize the coat checking industry. Rather than dealing with complicated tickets and unreliable workers who can give you the wrong coat, this actually verifies who you are along with your coat. It does seem to be a little bit expensive and needs a stronger plan, but this could work if the technology makes this a little bit more affordable and something that is worth a business’ time. Ultimately, it was too early in the company’s life for this show.
Despite getting a pretty brilliant offer from Mark Cuban of $200,000 for 33% of the company, Derek did make one of the controversial decisions in the history of the show: walking away and saying no to more money than most people receive.
Bev Buckle – This may very well be one of the most ridiculous ideas that we have ever seen. Yet, we kind of like it. This is a guy who came up with a buckle that also can transform into a cup holder, and it’s a novelty gadget in many ways. No serious person is going to wear this around on a regular basis, even if it is a good way to have something to drink without having to carry it around.
Robert Herjavec made what was one of the craziest offers ever: $50,000 for 75% of his company. Meanwhile, Kevin O’Leary made a deal (after calling Robert a “robber baron”) that was solely a 12% royalty. Barbara Corcoran one-upped Robert, and wanted 51% for the 50K. This was the deal he took, and it may be the right one.
Body Walking – Even though Todd Miller wanting $100,000 for 10% of his company seems to be a little bit high, he actually does have a good bit of his stuff together. His method of massage therapy has employees and a concept that works … but he does not have many sales to back it up. Plus, it’s not like this idea was anything new. Should you be surprised that no one wanted to bite with this idea? You shouldn’t.
BuggyBeds – While this may not be the most glamorous product we have ever seen on this show, we have to be honest: bedbugs are something that has become a major problem in many hotels and locales around the world over the past fifteen years. With this in mind, this product is smart in that it is one of the few things available that can really combat bedbugs on a first response level.
Everything looked great here on paper, but as always, there was one problem: $125,000 for 7% of the company. It was a strong evaluation, and the Sharks decided that their services are worth them getting extra equity. Basically, all five of the Sharks came in on an offer of 25% for $250,000. It was a brilliant offer; not only did they get money, but they have five people at their disposal for the first time in the show’s history. This crazy offer was not only inspiring, but a great way to end an episode that was just as entertaining as we would expect from the show.
What was your favorite product you saw during this show, and are there any here that you would actually pick up and use in your own life? If you want to get a further taste at what is coming up during season 4, be sure to check out the trailer here.