Next up is Derrek Burr of Kwik Hang, seeking $80,000 for 20 percent equity.
Kwik Hang offers curtain rod brackets that require no screws or nails. The damage-free brackets leave no holes in the wall or window trims and they can be installed in seconds. Their single- and double-rod brackets range in price from $3.95 to $15.95. According to their website, “the brackets come out just as easy as they go in and you can take them with you when you move.”
The sharks are moved by Burr’s story, in which he explained that his late father founded the company in an effort to prove his boss wrong. In 3 years, they have done $120,000 in sales. Kevin O’Leary worries that he doesn’t have the time commitment given that he’s a full-time police officer. Burr assures him, however, that he would retire if he got a deal. O’Leary is also worried about his motivations: whether he wants to keep the business going to honor his father or because he wants to make money and grow the company.
Mark Cuban goes out, followed by Lori Greiner, who saw it as more of a licensing opportunity. Daymond John thinks the business needs to be grown slowly so goes out, as does O’Leary. Robert Herjavec commends his dream and purpose but finds the price point too small. He goes out.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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Source: Business 2 Community