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I love seeing products like this in the Tank. To be honest, this season there have been too many people selling food products and clothing for my taste. I like innovation, ingenuity, and new ideas. So Fiber Fix is right up my alley.
Kevin jumps right into the mix with an offer almost as soon as the pitch is finished. It's his usual "I won't take an equity, just a small percentage of your sales from now until eternity" deal.
Lori thinks they could do great in infomercials and makes them a HUGE offer of $250k for 18% and pitches THEM on the kind of dollars they could be making with her. This is a good sign.
Robert has a multi-billionaire friend with a chain of hardware stores, so he's really interested as well, and asks Spencer and Eric whether men generally shop on TV or at the hardware store. Fair point. Then he adds on a line of credit for $250k. This is looking really good now.
The guys take a minute to discuss. And then they come back with a RIDICULOUS counter-offer. Oh my good god - what are you thinking??? They want $120k for 12% from Lori, plus a $2 million line of credit!
Robert and Mark go out, Eric and Spencer drop Kevin, and all of a sudden they're left with Lori. Lori's keen on the deal (but not the line of credit), but you can hear her souring on it as they continue wheeling and dealing.
Finally they get the deal, but not the respect of the Sharks.
Eric Child & Spencer Quinn