“Shark Tank” got a little dirty this week, and then it got a little organized. But would you be surprised that the person with the mud business seemed so much more put-together than the one who sold the locker organizer? It was that kind of episode, at least in that it was both fun and also pretty insane. There were also at least some offers handed out to deserving products.
Just in case you are diving into one of our “Shark Tank” reviews for the first time just know that you can use any of the links below to go to the individual product websites. There’s no need to scour the internet looking for them!
Alaska Glacial Mud (asking for $100,000 for 20%) – There’s still something to us that just seems so dirty about mud. There are so many issues from the get-go that makes us feel like this product is just going to be stuck in the mud for quite a long time. There’s no way you’re going to convince anyone on TV that Alaska mud is better than any other mud. Not only that, but there is no way that you’re going to get someone to invest this kind of money into something that a big company can do more efficiently, and at a price point more attractive to consumers. No deal.
Invisiplug (asking for $125,000 for 10%) – We thought that was a very easy decision for the sharks to make, mostly because at first it seemed there is no way at all in order to invest in this. The evaluation was far too high, and we didn’t personally feel like there is anything that is altogether creative about it. Their patent doesn’t protect anything other than “the process,” and there are big companies that are going to eat them alive.
But, this presentation is exactly what happens when you come to the tank prepared with great answers, and honest understanding of where your business is at, and what you can do moving forward. The professionalism and candor they showed not only netted them an offer from Lori Greiner, but Robert Herjavec came back “in” to make them an offer. While they didn’t end up getting him, they did score with Lori for what they asked for … with a royalty that they negotiated heavily.
LockerBones (asking for $175,000 at 10%) – In some ways this is a smart product (which we said in our preview), and we say this as someone whose entire locker at school was a mess. It encourages organization, and makes it a whole lot easier for students to not look for something in the catacombs of their locker.
This is almost the example of the complete opposite of Invisiplug, and proof that you need someone selling a product just as much as one that is good. These guys came across as confusing and very uninformed. They’ve been around for years, but never contacted Staples, one of the biggest players in the industry? It feels like one of those things where they were just hoping for a “Shark Tank” boom, and weren’t really doing anything before that. We don’t know how they got two offers, let alone a deal with Robert and Lori that gave each one of them 25% for $87,500 each. This just shows that if you have a good product, you can overcome pretty much anything.
Balloon Distractions (asking for $250,000 for 30%) – This entire pitch was pretty hilarious, but it did in a way surprise us with the amount of sales this balloon-artist agency really has. We do think that there is a market for this and he is extremely passionate about what he does, but there’s not a lot of structure to it. That is what popped this company’s balloon, but he can at least leave with his head held high in one regard: He got an opportunity to at least not be told off from Kevin O’Leary. He got real advice. Grade: B+.
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