Shark Tank Season 12 Episode 10 Recap
If you’re in a hurry, here’s a brief overview of the companies and deals made on Episode 10:
- Pitch 1: Slice of Sauce
- Result: $200,000 as debt which converts to 15% equity when $1.8 million in sales is reached deal with Alex Rodriguez
- Pitch 2: Love Is Project
- Result: No Deal
- Pitch 3: Luna Magic
- Result: $250,000 as a line of credit for 30% equity deal with Barbara Corcoran
- Pitch 4: Bubbly Blaster
- Result: $180,000 for 30% equity deal with Mark Cuban and Alex Rodriguez
If you have some time, then below you’ll find a full
Slice of Sauce
- Entrepreneur: Cole and Emily Williams
- Business: Dehydrated and sliced condiments
- Ask: $200,000 for 10% equity
- Result: $200,000 as debt which converts to 15% equity when $1.8 million in sales is reached
- Shark: Alex Rodriguez
The first product featured on our
All of the sharks acknowledged the cleverness of the product but questioned how big the market would be. Unfortunately, they never got their answer as Cole and Emily shared that Slice of Sauce wouldn’t be launching until November 2020. However, Cole and Emily did share that they are expecting to earn $1.8 million in sales within the first year by selling online. From there they are planning to go into retail stores.
The fact that the product hasn’t launched was enough to scare away some of the sharks, but Cole and Emily still found themselves with offers from Kevin O’Leary and Alex Rodriguez.
- Kevin: $200,000 for 5% equity with a $0.10 royalty until $700,000 was recouped
- Alex: $200,000 as debt which converts to 20% equity when $1.8 million in sales is reached
After giving it some thought, Cole and Emily negotiated Alex’s deal down from 20% to 15% and Slice of Sauce left the tank with a deal. If you’d like to buy your own Slice of Sauce, you can do so on the official website.
Love Is Project
- Entrepreneur: Chrissie and Gladys Lam
- Business: Handmade bracelets
- Ask: $250,000 for 5% equity
- Result: No Deal
- Shark: None
Chrissie and Gladys Lam appeared on
Despite a great mission, the business side of the Love Is Project is a bit messy even though it’s managed to amass over $4 million in lifetime sales. Due to a $25 customer acquisition cost via digital marketing, Chrissie and Gladys shared that the company has lost $80,000 in the last 12 months and has around $500,000 in small business loans. However, Gladys shared that they are expecting to be profitable this year because they have managed to cut their digital marketing costs significantly.
However, while all of the sharks commended the mission of the business, the debt and lack of a profit were enough to dissuade all five sharks from making an offer. If you would like to buy a bracelet, you can do so on the Love Is Project website.
- Entrepreneur: Shaira and Mabel Frias
- Business: Makeup for Latino women
- Ask: $200,000 for 10% equity
- Result: $250,000 as a line of credit for 30% equity
- Shark: Barbara Corcoran
The third company in our
After showing the sharks their product line, Shaira and Mabel shared that Luna Magic had earned $103,000 to date, through sales, grants, and a partnership with a subscription box. However, the sisters had managed to land a major rollout with Walmart and will be launching in half of their stores in the coming months. As Kevin O’Leary points out, this is a huge undertaking and Shaira and Mabel shared that they are in need of logistical help and funding support from the sharks.
Despite landing such a major deal, some of the sharks were a bit nervous to enter such a competitive market and the others already had conflicting businesses. However, after some hesitation, Barbara Corcoran decided that she was interested and offered the Luna Magic $250,000 as a line of credit for 30% equity in the company, which they accepted.
If you’re interested in a Luna Magic product, you can learn more on the official website.
- Entrepreneur: Stanson Strong and Brad Hall
- Business: Champagne water gun
- Ask: $120,000 for 20% equity
- Result: $180,000 for 30% equity
- Shark: Mark Cuban and Alex Rodriguez
The final product in our
The Bubbly Blaster is currently sold for $100 and costs just over $18 to make, but Stanson and Brad believe they can drive that cost down with bigger orders. Since its launch just over a year ago, the Bubbly Blaster has amassed $560,000 in sales through its website and Amazon. All of this was enough to interest Mark Cuban, who offered them $120,000 for 25% equity.
Stanson and Brad asked if Mark and Alex Rodriguez would consider partnering up at $180,000 for 30% equity. The two sharks agreed and Bubbly Blaster left the tank with a deal.
That’s a wrap on our
- Shark Tank Season 12 Episode 9 Recap
- Shark Tank Season 12 Episode 8 Recap
- Shark Tank Season 12 Episode 7 Recap
For updates on Season 12 companies, be sure to check out our Season 12 products page!