‘Shark Tank’: An Accidental Product Saves One Entrepreneur in the Tank (RECAP)
Guest Shark Rohan Oza joined Mark Cuban, Kevin O’Leary, Lori Greiner, and Barbara Corcoran in the tank to hear the business proposals of four hopeful companies — Bohana, GroupHug, Safety Nailer, and Boho Camper Vans. Read on to find out who walked away with a deal on tonight’s episode of Shark Tank!
Boho Camper Vans
Seeking: $300,000 for 10%
David Sodemann and Brett Ellenson were first up in the tank ready to introduce the Sharks to their mobile real estate company that sells and rents stylish camper vans. They currently charge $200 a night with a three-night rental minimum and have sold 12 vans so far.
Mark didn’t see it as a fit for him, so he dropped out of the running, but all of the other Sharks felt this business had potential. Kevin was first to throw in an offer of $300,000 for 33.3% and later revised it to $300,000 as a loan at 9% interest for 7% stake, but the entrepreneurs quickly dismissed it. Rohan also expressed interest by offering $300,000 for 25%, while Barbara offered $150,000 plus $150,000 as a line of credit for 10% stake. Lastly, Lori offered $300,000 for 20% plus a charitable donation to the homeless. David and Brett countered Lori with 15% but she wasn’t interested in going that low.
Ultimately, Derek and Brett decided to go with Barbara. “Barbara knows real estate. We are glad to have her on board because she’s going to take us places,” they said.
Seeking: $200,000 for 10%
Nadine Habayeb was next in the tank with her alternative snack to popcorn — popped water lily seeds. With 50% more protein, fewer calories and fat, and no kernels, the Sharks became immediately impressed with Nadine’s food trend.
Lori, Rohan, and Mark all opted to go out, but Barbara seemed to be most interested in pursuing business with Nadine. She threw out an offer of $200,000 for 30%, which she felt was “fair.” But Kevin wasn’t willing to allow Barbara be the only Shark fighting for a deal, so he threw out an offer of $200,000 as a loan for 8% to compete with her.
Nadine asked if Barbara and Kevin would join forces, but they weren’t willing to comply. “I don’t even like Kevin,” Barbara joked.
Kevin ended up landing a deal with Nadine, as she expressed that equity was most important to her. “[Kevin] realizes what our company needs is money, so I feel that was the right decision,” she said.
Seeking: $150,000 for 10%
Krystal Persaud introduced the Sharks to her solar panel company, GroupHug, which offers a sustainable, portable solution to powering small tech devices. The solar charger that hangs in a window allows customers to charge any of their tech products — day or night.
Lori felt Krystal was too early on in her business, so opted to go out. Kevin referred to GroupHug as a “commodity business” that would struggle to make money and also removed himself from the running. Barbara and Rohan also decided that GroupHug wasn’t the business for them.
With Mark being the final Shark, Krystal desperately tried to get him on board — and ultimately it worked. He offered $150,000 for 25% to which she happily accepted.
Seeking: $100,000 for 14%
Drew Zirkle was the final entrepreneur of the episode, ready to teach the Sharks all about his device that keeps fingers safe when using a hammer. Safety Nailer is a handy tool that straps to your fingers and ensures nails are kept straight to prevent them from buckling upon impact, therefore lessening the chance of any injury while hammering.
Currently, the company is showing minimal profit and Derek isn’t working full time on the company, which seemed to be an issue for the potential investors.
“I don’t think this deal has room for any partner,” Barbara said before dropping out. Kevin and Mark also removed themselves, taking issue with the company not having a full time worker dedicated to it.
After seeing that he was starting to lose interest from the Sharks, Derek decided it was time for damage control. He pulled out a separate product, called “the clacker” made of pieces of metal magnets that repel against one another that was accidentally created when making the Safety Nailer. “You’re probably going to want it to clack,” he said. “Kids loves the magnets.”
The Sharks thought the clacker was a hilarious product, and it ended up being what saved Derek in the tank.
Rohan and Lori expressed interested in doing a licensing deal with Derek for Safety Nail and they were able to get Mark in on the deal, but only if it also included the rights to the clacker. And so he agreed — $100,000 for 33.3%.
Shark Tank, Fridays, 8/7c, ABC