The following are actually REAL negotiations between entrepreneurs and investors (Guppies & Sharks). The sharks invest their own money at their discretion. The guppies get devoured into a belly of finance, or spit back into the ocean of hard knocks to fend for themselves. The entrepreneurs must convince the sharks to invest the FULL AMOUNT, or walk away with NOTHING.
THE GUPPY: Les Cookson
THE COMPANY: Carsik Bib
WEBSITE: carsikbib.com
SYNOPSIS: a hands free barf bag for kids
SEEKING: $30K for a 15% stake
PRODUCT/SERVICE: A strap on bib that allows children to vomit into a bag and conveniently prevents spilling and reduces odor.
WHAT'S THE SKINNY?: He's using prototypes, he's sold 160 online, he has $1,300 invested into the business.
STATS: Daymond is out. Kevin O'Leary is out, Jeff is out. Robert is out Barbara is out. Not much interest from the sharks in the barfing business. None of the sharks can see themselves investing into this product. Les walks out with no investment.
CAME IN SEEKING: $30K for a 15% stake
WALKED WITH: Nothing.
GRADE: (Guppy): D-
GRADE: (Sharks): Not Applicable
COMMENTARY: Whoa! I've seen it all. Not much to say behind this one. He said he had online sales. That means there is literally a market for everything. Good luck Les!
"Success seems to be largely a matter of hanging on after others have let go." - William Feather
CHECK OUT THE SHARK FINS SECTION FOR ARTICLES AND INTERVIEWS. ALSO CHECK OUT THE SHARK TEETH SECTION FOR HELPFUL TOOLS OF THE TRADE.
WHAT DO YOU THINK? COULD HE HAVE GOTTEN THE SAME CAPITAL (OR HIGHER) WITH A LOWER STAKE? WHERE THE SHARKS FAIR IN THEIR NEGOTIATIONS? DID BOTH PARTIES COME OUT ON TOP? POST YOUR COMMENTS AND TEST YOUR NOODLE AT THINKING LIKE A BILLIONAIRE...........
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