PublicDomainPictures / Pixabay

Guest Shark, Daniel Lubetzky, joined longtime Sharks Lori Greiner, Mark Cuban, Kevin O’Leary, and Robert Herjavec to evaluate potential business investment opportunities in the Shark Tank. Four companies, Just the Cheese, Neuro, Seriously Slime, and First Saturday Lime, came to the Shark Tank to pitch their product ideas to the Sharks in hopes of securing both a financial investment as well as a long-term partnership with one of the Sharks. Although 3 of these businesses were extended offers from the Sharks, only 1 of these businesses accepted their offer and left the Shark Tank with a partnership deal with a Shark.

Just The Cheese Walks Away From Three Offers

Wisconsin native, David Scharfman, came into the tank to showcase the product that his family developed after many years of being in the cheese industry, Just The Cheese. This simple product is simply made by shredding their homemade cheese into a mold and baking it in the oven. No fillers or preservatives are added to this delicious snack. As its name indicates, it is made of Just The Cheese. David is looking for a Shark that is willing to help him increase his production runs to increase his margins and thus his profit. To do this, he is looking for a Shark who will invest $500,000 in exchange for a 5% equity share in his company.

The Sharks were surprised to learn that Just The Cheese is rapidly gainly popularity, in part due to the Keto diet, and at the time of filming in 2019 had already had $3.7 million in sales with 4 months left to go in the year. Initially, the Sharks showed concern that a bigger cheese company could easily knock the product off and the power of their brand would deplete Just The Cheese’s sales, however, two Sharks were still interested enough to extend offers. Kevin O’Leary and Lori Greiner both offered royalty deals. Kevin offered a $0.20 per package royalty in perpetuity while Lori’s $0.15 royalty would cease after she recouped $750,000. Mark Cuban also offered to invest $500,000 without a royalty for a 15% equity share. David felt that all of these offers would strain the company too much and he declined their offers, leaving the Shark Tank without a partnership deal.

Neuro Declines Two Sharky Offers

Best friends Kent and Ryan met in college where their collective love for chemistry and neuro-science brought them together. While combining their love for the sciences and their drive to always be on the go, these friends created a line of mints and gum that pack an extra punch. Neuro mints and gum have as much caffeine as a half cup of coffee and are cheaper and easier to keep on hand. Because the caffeine is quickly absorbed through the mouth, it’s effects are much quicker than drinking a cup of coffee and safer than drinking an energy drink.

Neuro is seeing great growth and has generated $3.5 million in sales at the time of filming in 2019. They began recently expanding into retail stores after primarily selling through Amazon and online channels. Neuro is looking for a Shark that is willing to invest $750,000 for 5% equity in their company. They need the money to help with the marketing and retail efforts, however, they also need a Shark that is willing to help them navigate retail sales. Robert Herjavec is concerned about how to scale their business but offers them $1 million for 20% equity. Kevin O’Leary takes a different approach and offers $0.50 cents in royalties until he recoups $1 million at which time the royalty would cease but his 5% equity share would stay. Kent and Ryan are afraid that this is asking for more than they were hoping to give up and it wouldn’t be fair to their other investors. They decline the offers from the Sharks and leave the Shark Tank without a strategic partner.

Seriously Slime Strikes Out In The Shark Tank

Shannon Valko and Sarah McDermott are offering to take the mess out of making slime for parents in Chicago and surrounding areas. These business partners offer a service-based party model as well as a storefront location where they can host slime-making parties both in their store and in your home. Each party includes all the supplies and they have designed a slime-buddy pouch to store the slime after the party to prevent it from getting into carpet and furniture. These parties are increasingly popular with children between the ages of 4-12 who are at the height of the slime craze.

Looking to move into a licensing model in order to expand their business, Shannon and Sarah are seeking $90,000 in exchange for 15% equity in Seriously Slime. Although the Sharks are aware of the slime trend, they are concerned about licensing being the correct move for them. They also are concerned that they have only generated $28,000 in revenue and are just trying to get the storefront part of their business off the ground. The Sharks suggest that they should take the time to build their brand and then expand into places like malls, which are hurting for foot traffic. Although the Sharks think that this is a great small business, they do not see this as a profitable business investment and decline to make Shannon and Sarah an offer.

First Saturday Lime Snags a Deal With Kevin O’Leary

Family members Zac and Jana McDaniel and Jessica Jacobs have learned a thing or two from their family who are third-generation farmers. Among the legacy their late father left for them, was his recipe for a natural and safe way to repel bugs from coming into your home or garden. These siblings have decided to continue chasing their father’s dream by bringing his product, First Saturday Lime, to market. The key ingredient in their proprietary blend is citric acid which repels insects but it totally safe for pets and children.

Because their business is starting to gain momentum and they have signed vendor agreements with large distributors, they need the assistance of a Shark who can help them scale and grow their business while helping them to negotiate lower shipping rates. To do this, First Saturday Lime is seeking $100,000 in exchange for 10% equity. Although the Sharks like the idea of the product, they believe that the brand will need to go through a marketing refresh to educate the market on why they have a superior product than the competition. All of the Sharks went out except Lori Greiner and Daniel Lubetzky who extended them a combined offer of $100,000 for 33.3%. In countering Zac tries to talk them into 25% equity instead but they refuse to go that low. Instead, Kevin O’Leary swooped back in and said he would do that deal and they agree to a partnership with Kevin.

What do you think about the companies featured on this episode of Shark Tank? Do you think that the businesses that walked away from offers with the Sharks made wise decisions? If you were a Shark and could only invest in one of these businesses, which would it be? Start the conversation in the comments below!