skeeze / Pixabay

Pennsylvania native, Joe Balistreri, is on a mission to keep wild animals away from his property. Raccoons and other wildlife can find their way into trash cans, swimming pools and even into homes. Joe’s product, the Critter Pricker, is designed to deter animals from getting into these areas. These plastic spike strips can easily mold around trash cans, stairs and any areas where you’d like to deter an animal from entering. Because these animals have very sensitive pads on their feet, when they reach the spikes they will avoid the texture of the Critter Pricker and leave the area.

Joe is looking for a Shark who is willing to invest $115,000 for 15% equity in his humane pest control solution. This year, he has sold approximately $80,000 worth of Critter Prickers. After taking the product to a tradeshow, they sold out completely and are struggling to keep up with the demand. He would like to partner with a Shark who can help him keep up with the growth of the company while maintaining healthy inventory levels.

Although the Sharks believe the product has merit, they are all worried about being sued if a pet or child would walk over the Critter Pricker as the spikes are pretty sharp. The safety of the product is dependent upon the user remembering to pick it up before their pets or people enter the area where it has been deployed. Struggling to balance the risk-to-reward, most of the Sharks decline to make an offer, with the exception of Kevin O’Leary. Kevin offers Joe an investment of $115,000 in exchange for 15% equity, but he would like a $2.50 per unit royalty in perpetuity. Joe agrees to Kevin’s offer.

If you were one of the Sharks would you have invested in the Critter Pricker? Do you think that Joe got a fair deal from Kevin O’Leary? Start the conversation in the comments below!