Summary of Oral Pitch and Sharks Discussion Paper Example

2021-08-02 18:06:51
5 pages
1264 words
University/College: 
University of Richmond
Type of paper: 
Movie review
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The oral pitch of the two ladies was captivating as they caught the attention of the Sharks by every single sentence they spoke. They consistently used the word bang which was interesting and enjoyable for the Sharks. They were detailed in explaining how they came to make the sauce and the fact that it could be used as a sauce in every food. They further offered a sample to the sharks to taste and give their remarks. Also, the ladies were fast to explain how their product has been successful in the market retailing in several Wal-Mart stores. They also narrated the price their product is sold in the market.

Sharks discussion

Throughout the discussion of the shark, they remained optimistic and kept reassuring the two ladies that their product would do well in the market. They also gave a positive remark about the sauce saying that it was good. Despite pulling out and saying that they would not be able to invest their money in the product, for now, they reminded them that if they made more effort, they would be successful in future. They also raised questions about how the ladies were going to distribute their products. The two ladies answered by saying they were in partnership with Wal-Mart to distribute their products. They also asked about the price of the product and its performance online. The ladies said they had not made good sales online. This was very disappointing as the Sharks were not ready to invest in a product that was not selling online.

Offer or lack of offer

For various reasons among them poor performance online, poor branding of the sauce as Barbeque sauce yet it was used for all food, breakage of the package, and low returns from the sales, the Sharks refused to offer the ladies any funds.

Where is the product/company now by searching online for this information

The product was currently being sold online on various platforms. However, the sales had been poor due to the competitiveness of the market sauce.

Segment 2

Company

The name of the company was UNPACK.

Summary of oral pitch

The presentation of the two was very interesting at the beginning. When they mentioned the name UNPACK, the sharks understood that they were going to offer services of packing and unpacking at the airport. The two further explained how they were offering the services to the market. They said that they would have a database of clients where they would have the clothing preferences and brand. They would then have them at different joints where one would check in and grab the clothes he wants, use them for the day then exchange at the next joint. They would mainly deal in second-hand clothes charging $20 per day. They believed that people were wasting time and extra cash at the airport. They made the presentation in shifts where each person had the time to contribute.

Sharks discussion

The sharks were not happy with the entire idea. They believed that the two gentlemen were confused and did not understand the business they were into. They stated that the idea was completely outrageous hence was not going to work. One of the shark members stated that the name was poorly selected and should be changed. Another said he wouldn't support the two because some people who traveled for a long time such as week were not going to save when paying $20 a day. According to another member, he believed that people do not like sharing clothes hence the idea would fail. Finally, another one opted out because of they had made very low sales and had only practiced the idea for six months.

Offer or lack of offer

With all the weaknesses identified in the business idea, the Sharks openly denied giving the two any offer.

Where is the product/company now by searching online for this information

The idea was being implemented online on the company website that the two had created.

Segment 3

Company

The company is called Sunscreenr.

Summary of oral pitch

The presentation was quite interesting as the presenter was quite a knowledge and audible. Dave started by explaining the fact that the people use a lot of money in sunscreen yet high cases of skin cancer are recorded. He states that sunscreen has been effective for protecting one's skin against the sun. However, it was difficult to check whether the sunscreen is protecting the screen. Therefore, he designed and produced a device that would show the protection of the skin. Dave does a prototype of two of the Shark members, and they prove that is effective. Despite the challenges that the team possess to Dave, he tries so much to explain to them. He is also good at bargaining to get a good deal.

Sharks discussion

The Sharks were all convinced that Dave had done a good research and perfectly produced a good device. However, all except one were not ready to invest on the product. The reasons that the members rejected to work with Dave was that they believe that parents wont constantly check the skin of the child every 30 minutes after applied the sunscreen on the childs skin. They believe that the product wouldnt be sold to many people since people wont get the time to use it. The members further pull out because Dave had only sold 1200 pieces of the device making the sales very low. However, Kevin believed that the business was viable and offered Dave $800,000 for 33.3% stake. This was a third of the total stake available compared to the 10% that Dave was looking for. Dave tries to bargain with Lori to take the deal but she pulls out making Kevin the only one.

Offer or lack of offer

Dave gets an offer of $800,000 for a higher stake of 33.3% from one member of the Shark who is Kevin.

Where is the product/company now by searching online for this information

The availability of the product is not discussed.

Segment 4

Company

The company is called the POTATO PARCEL.

Summary of oral pitch

The two gives very brief information about their company. They do a brief but interesting introduction, and immediately Riad pulls out a potato saying "Invest" while Alex pulls out one written "in us." They explain that the sharks had heard detailed and elaborate pitches, but they keep their brief. Robert asks for more explanation, and they explain that they sell potatoes with interesting messages. They also explain that they are very flexible and change their messages depending on the season. They ask for $50,000 for 10% stake. They also explain how much they have collected from selling the potatoes. The figures are outrageously high.

Sharks discussion

The sharks start by making fun of the two since they claim the idea is completely outrageous and they are not going to invest in them. Kevin comes up with an idea of investing in them. He gives his conditions of investing $50,000 for 10% stake and further asks for a $0.5 royalty for 60 days and further $1 royalty till an amount of $150,000 is paid. He then concludes by telling them that he offers the owner of the company work at his place when the company collapses. Also, Robert offers $50,000 for the 25% stake and proposes to other products such as cucumbers, carrots, etc. Riad takes the royalty deal where he says Kevin would get his request but would give him $1 royalty for 60 days and give Alex too $1 royalty as agreed before.

Offer or lack of offer

After the discussion, they get an offer from Kevin of $50,000 for 10% stake.

Where is the product/company now by searching online for this information

The business involves selling potatoes hence no online existence was discussed.

 

 

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