By Erica Abbott
Last into the tank are Tom Hopkins and Nate Lawrie of Brazyn Life, seeking $225,000 for 10 percent equity.
Brazyn Life offers portable, space-saving foam rollers perfect for both professional athletes and fitness enthusiasts alike. According to their website, the company “aims to give you the tools you need to accomplish your goals. By providing products that are both innovative and dedicated to mobility, we cater to the lifestyle needs of anyone that takes their health seriously – from the professional athlete to the weekend warrior, the young surfer to the retired yogi.” Their Morph collapsible foam roller, which costs $68, allows for “true usability” by providing lightweight materials and instant expandability. They also offer extension kits, custom bundles and Morph skins, which are available in nine colors.
Kevin O’Leary finds it very intriguing and acknowledges that there’s definitely a market for the product. Lori Greiner calls it “clever” and the sharks are all very impressed. They are projected to do $2.4 million over the next year.
O’Leary questions the valuation but offers $225,000 for 20 percent. Daymond John jumps in with an offer of $225,000 for 15 percent. Guest shark Sara Blakely acknowledges that it’s a demonstration product, but finds it very unique. She and Greiner hesitate on making any offers until Mark Cuban goes out. Greiner and Blakely then team up and offer $225,000 for 20 percent. The duo counters Greiner and Blakely for 15 percent, which they decline since they would be getting two sharks. That prompts O’Leary and John to partner and combine their deals for 20 percent.
They counter again at $250,000 for 20 percent for either partnership and ultimately accept a deal with Blakely and Greiner.
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.
Would you try out Brazyn Life? Sound off in the comments section below!
Source:: Business 2 Community