In an all new episode of ABC's "Shark Tank" BedRyder, Coco Jack, Twin Z Pillow, and Frill Clothing try to sell their companies to a room full of Sharks including, Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner and Robert Herjavec.
It was all in for America tonight as every company promotes products made here in the states.
About Coco Jack
Coco Jack is straight out of New York and it simply is a tool used to open up Thai coconuts which are apparently very hard to pry open. No matter the size or strength the product promises to allow its user to reach the delicious ingredient.
According to their FaceBook page, "Coco Jack is Patent Pending and is made out of 100% food safe stainless steel. Our beater is 100% food safe plastic. And our entire line of products is Made in the USA." After testing hundreds of prototypes Dave, the founder, can finally bring his product to the shark tank.
The Ask: 125k for 10%
How it Went Down: O'Leary started off the criticism claiming that coconuts were actually bad for your health.
Lori was the first to start the business and the owner revealed that company has made 325k so far. The Coco Jack is sold for 60 dollars and made at 26.
Barbara was the first to reveal her doubts and didn't trust the owners organization. Lori was next to back off because of a lack of a big market.
O'Leary made an offer for 125k at the insulting 50% stake. Cuban made the next offer at 125k but offered a convertible debt rate at 7% following by a 25% stake in the company if things went well.
The owner was left between debt or equity and made the deal with Cuban. So far so good on the American made episode.
BedRyder is a company that promotes a way to transform your pick-up truck into an SUV when you need additional passenger seating, yet can be completely removed in seconds when you need to haul cargo. By throwing a cover over the top and installing seats the whole family can drive in the big pick up.
Not every truck is compatible with the cover feature but the seats fit into any vehicle. Not every day that a product comes along with the ability to transform a car to a completely different make. Just like every product tonight it is made in America.
The Ask: 200k for 15%
How it Went Down: George, the owners friend, was making the sales pitch. But the idea was laughed at in all honestly right from the get go.
George admitted that the company had only sold 800 units over 4 years. He admitted that his friend has an 85% stake in the company.
It cost 300 to make the product and sells at 699. Herjavec was the first to begin the skepticism. He was adamant that the product cost way too much.
Lori and O'Leary were next up because the product was clearly unsafe. They backed away very safely and quickly. Herjavec felt similarly and he followed suit.
Cuban gave his normal excuse about a return on investment and was next to go. Clearly this idea was lacking both on intuition and potential money. Win some you lose some.
About Frill Clothing
Frill Clothing brought along some lovely ladies to promote their line of sorority clothing. Specifically for the recruitment part of the process. Frill works to create the perfect look for each and every sorority girl. Offering mix and match options.
Founded in 2012 by Kate Steadman and Sharon Bui. Their sorority product line is what they are trying to push the most. It allows the sororities to recruit and appeal to woman with confidence and a high degree of class. Not to mention all their products come right from the United States.
The Ask: 100k for 20%
How it Went Down: O'Leary was interested in the fact that the company went to each specific sorority and made them custom dresses.
The sharks found out that the company does about 70% in about a 3 month period. They also sold the sharks on the fact that each girl spends about 500 dollars per rush week.
Cuban was the first to bounce from the company and it was because he didn't he see himself working well with the girls.
Barbara made an offer finally of 100k for 33%. O'Leary matched the offer but Barbara fired back and told the girls he wasn't exactly a good fit for this company.
Herjavec loved the idea as well as the owners and agreed to what the girls offered from the start, which was 100k for a 20% stake.
Barbara and O'Leary decided it was time to team up. O'Leary admitted that the company needed to accelerate the business to more companies.
The girls finally decided to take the two shark offer but had them both lower the stake to 30% and it was a deal. 2 outta 3 for the American made companies, not to shabby.
About Twin Z Pillow
Twin Z Pillow is a very particular product that adheres to mothers of multiples. It claims to be the most comfortable and versatile pillow for twins. Promoting 6 uses for one pillow this is certainly not your mother's pillow. It is designed specifically to deliver help for all overwhelmed moms.
Michelle the founder had twins and was finding it extremely tough to breast feed them both. Laying on her side just wasn't comfortable for all parties involved and she decided it was time for a change. After finding no solutions she developed the Twin Z Pillow.
The Ask: 75k for 10%
How it Went Down: O'Leary was first to give a hint a doubt as to the fact that most parents may not be luckily enough to have twins.
The product sells for 99 dollars and it is made at 29. Overall the couple has made 500k and got a 1 million dollar projection.
Everyone was excited with this product but there was disagreement as to how and where the product should be sold.
Herjavec made a royalty offer that agreed to give him 2.5% for each sale after his initial investment was returned. Lori told the couple to throw this offer in the trash.
Lori also made a royalty offer for 5% stake when the company made her money back. She told the couple that she had a good relationship with Bye Bye Baby who could heavily promote the company.
Barbara made an offer of 75k for 20% for the company which was 10 percent.
O'Leary and Herjavec combined their offers to 150k for a 2.5% royalty when the company made the money back.
Lori outreached to Barbara in order combine their offers but Barbara refused. Lori changed her offer to the exact same as Barbara. The couple reached out to Lori and Barbara to lower the stake to 15%.
At the end of a very long and drawn out bidding the couple finally agreed to go with the retail king Lori at the 75k for a 15 percent stake.
Overall it was successful night for the sharks and the fishes that made the plunge. But on this special night it was America that was the real winner and maybe there is still hope for inventions in the country.