S09.E23: Eggmazing Egg Decorator, Hugo's Amazing Tape, Coolpeds, Coinout

[SnarkyTart]

Quote

Entrepreneurs from Amarillo, Texas, introduce a new way to decorate Easter eggs without all the mess; entrepreneurs from L.A. pitch their glue-less, self-clinging, reusable tape invention; an entrepreneur from West Covina, Cal., shares his line of transportation devices to help people get around efficiently and save money' and an entrepreneur from New York City presents his digital tool to turn loose change into effortless money.

[GoldenGirl90]

nvm

Edited February 19, 2018 by Alexis2291

[madpsych78]

I actually liked the first product with respect to Easter eggs, although I would have liked to have seen additional options for moving the eggs so that you can do more than just spin it around. I could see that design getting old quickly. I actually got the potential with the Christmas version - some people like to decorate ornaments as well. I thought those guys had good business sense.

So surprised the last guy got a deal. He seems like he would be a difficult person to work with.

[rhys]

Puns aside, the egg deal looked like a ton of fun.

I floved the sisters shilling Hugo's tape & was hoping they would get $0.50 per roll over & above the $100k that L\M gave them.

[LittleIggy]

The change thing guy was so arrogant.

[cooksdelight]

An interesting negative review of Amazing Tape on Amazon. They said they bought it a few years ago and it was thicker than it is now, that the thinner tape doesn’t hold as well. Everyone else seemed to love it. 

[BusyOctober]

Haaaated the Sisters & their shtick.  I couldn't stop wondering if the straight-hair sis was wearing a wig or not...that bob looked fake to me.  As for their deal, I don't get it.  The got $100k to walk away from the company?  No involvement in their father's legacy?  No royalty?  No spot on the board?  No stock options?  Just seems like they were happy to dump the biz and be able to say "OK Dad, your dream lives on, but we OUT!"

I think I missed a few minutes of the scooter suitcase pitch.  What was the problem about being allowed to use it in airports?  I have seen other kinds of scooters in use at the International airport near me; handicapped type and motorized, rid on suitcases.  I even saw someone with a ride on cooler once.  Personally I thought the suitcase was rather small.  And after you detach the scooter from the suitcase, then what?  Are you supposed to leave room in the carry on to stuff the folder scooter inside?  I don't know if storing the lose folded device in an overhead would be allowed.  Am I supposed to hold the thing in my lap (not that it would be allowed either)?  The car looked cool though.

The egg thing looked cool, but like madpsych 78 mentioned "STRIPES!" would get boring, even if you varied the width of them.  If I see it in a store for a reasonable price (i.e.- not $25), I might pick one up this year.  

Last guy should have stayed in Corporate Law...very assertive and he had a knack for arguing.  I don't get the appeal of his app, but I use a debit card mostly.  If I'm somewhere when the purchase is under $10 or $20, I do use cash, but the loose change goes into a jar when I get home.  My husband & I save all the coins and all $5 bills we get as change for our vacation fund from Jan-July.  Last two years we saved over $2000 & paid for our August week at the beach!

[cooksdelight]

41 minutes ago, BusyOctober said:

What was the problem about being allowed to use it in airports?

There isn’t a problem, but Barbara used that as her excuse to bow out. If she is as smart as she claims, she’d know that electrical motorized devices are allowed in all aiports. I’ve seen kids on scooters, electric wheelchairs, electric scooters. Heck, airport personnel drive golf carts through the terminal. I had sprained my ankle but still had to fly to LA. They took me in the cart right up to my gate.

[Whimsy]

1 hour ago, BusyOctober said:

Haaaated the Sisters & their shtick.  I couldn't stop wondering if the straight-hair sis was wearing a wig or not...that bob looked fake to me.  As for their deal, I don't get it.  The got $100k to walk away from the company?  No involvement in their father's legacy?  No royalty?  No spot on the board?  No stock options?  Just seems like they were happy to dump the biz and be able to say "OK Dad, your dream lives on, but we OUT!"

I think I missed a few minutes of the scooter suitcase pitch.  What was the problem about being allowed to use it in airports?  I have seen other kinds of scooters in use at the International airport near me; handicapped type and motorized, rid on suitcases.  I even saw someone with a ride on cooler once.  Personally I thought the suitcase was rather small.  And after you detach the scooter from the suitcase, then what?  Are you supposed to leave room in the carry on to stuff the folder scooter inside?  I don't know if storing the lose folded device in an overhead would be allowed.  Am I supposed to hold the thing in my lap (not that it would be allowed either)?  The car looked cool though.

The egg thing looked cool, but like madpsych 78 mentioned "STRIPES!" would get boring, even if you varied the width of them.  If I see it in a store for a reasonable price (i.e.- not $25), I might pick one up this year.  

Last guy should have stayed in Corporate Law...very assertive and he had a knack for arguing.  I don't get the appeal of his app, but I use a debit card mostly.  If I'm somewhere when the purchase is under $10 or $20, I do use cash, but the loose change goes into a jar when I get home.  My husband & I save all the coins and all $5 bills we get as change for our vacation fund from Jan-July.  Last two years we saved over $2000 & paid for our August week at the beach!

Ive seen a commercial lately about a ride on suitcase, so I didn’t get the shark’s concern. 

I debit literally everything, even if it’s a couple dollars, so I personally didn’t like that product. 

[eel2178]

4 hours ago, BusyOctober said:

Haaaated the Sisters & their shtick.    As for their deal, I don't get it.  The got $100k to walk away from the company?  No involvement in their father's legacy?  No royalty?  No spot on the board?  No stock options?  Just seems like they were happy to dump the biz and be able to say "OK Dad, your dream lives on, but we OUT!"

I don't think they realized that they would have no more involvement with company or be able to collect a royalty on what was sold.

[eel2178]

4 hours ago, BusyOctober said:

Last guy should have stayed in Corporate Law...very assertive and he had a knack for arguing.  I don't get the appeal of his app, but I use a debit card mostly.  

He seemed to think he revolutionized the way people spend their money. I don't know why no one brought up that, if you don't want to carry around the loose change, you can put it in the tip jar. I would think  the type of businesses he was targeting would prefer that to paying $20 per month to participate in giving people back their own money, minus 3% of course. 

I can see this as one of the deals that falls through immediately after the show.

[Destiny74]

The coin guy was arrogant and I wouldn't want to work with him.  Not to mention that I also Debit almost everything now so I don't have change that I worry about.  And I don't wear skinny jeans so that's not an issue for me either.  

The sisters were obviously looking to dump the company.  And that's fine.  They shouldn't give up their dreams and desires for their lives to work on something they are not passionate about.  They seemed thrilled with the deal.  However, in two years when Lori and Mark are raking in the cash, I wonder if they will still think the deal was good.

I liked the scooter guy.  Although it looked like a suitcase, he said it was a briefcase.  Smart because it is a little too small to make for a decent suitcase.  I think it would be great for kids at college.

Easter egg thing was a novel idea.  I might buy one and use it for a few of our eggs, but not all.

Edited February 19, 2018 by Destiny74

[eel2178]

13 minutes ago, Destiny74 said:

  The sisters were obviously looking to do the company.  And that's fine.  They shouldn't give up their dreams and desires for their lives to work on something they are not passionate about.  They seemed thrilled with the deal.  However, in two years when Lori and Mark are taking in the cash, I wonder if they will still think the deal was good.

I still think they didn't understand the deal. They seemed pretty naïve.

[hoodooznoodooz]

I'm confused about what one of the Easter egg guys said. "I don't want my children to see their parents eating the crusts off peanut butter and jelly sandwiches."

[Racj82]

5 minutes ago, hoodooznoodooz said:

I'm confused about what one of the Easter egg guys said. "I don't want my children to see their parents eating the crusts off peanut butter and jelly sandwiches."

Basically trying to make two meals out of one because you're poor.

[BusyOctober]

5 minutes ago, hoodooznoodooz said:

I'm confused about what one of the Easter egg guys said. "I don't want my children to see their parents eating the crusts off peanut butter and jelly sandwiches."

I think he said that because he grew up poor, and saw his own parents eating the crusts b/c maybe they couldn’t afford groceries.  He didn’t want his kids to see that scenario with him so he is trying to make a better life for his family.

[SnarkyTart]

I kinda feel like if the entrepreneur(s) are willing to sell 100% of their business, and all interest in it, for $100K, then they shouldn't be on Shark Tank.  That's antithetical to the definition of entrepreneurs seeking capital from venture angels, which is what this show is supposed to be about. 

The Coin Out guy's business premise didn't make sense.  When Mark asked him what the merchants would get in exchange for paying  $20/month, plus a 3% transaction fee, the guy said the merchant would get the benefit of building customer loyalty by offering such a terrific service.  Now, I do use all cash when I go to fast food places, coffee kiosks, and the like.  I don't like carrying around a bunch of change, but I would never intentionally choose a particular merchant only because they offer this Coin Out thing.  In fact, even if the kiosk or drive-thru window had the Coin Out gadget, I wouldn't use it because I'd be in a hurry and not willing to stand there and input my information into the device just so that I could accumulate that thirty-four cents in the cloud.  Also, the guy said, the merchant doesn't get access to any of my personal information, so it does nothing for the merchant's customer retention or future marketing purposes.  Actually, a lot of businesses offer cash discounts because it saves them the transaction fees (which are roughly in the same 3% range) the credit card companies charge the merchant on credit transactions.  Why would they want to pay for the "privilege" of making cash transactions?

Still, the Coin Out guy was just like a Kevin O'Leary mini me, which was cracking me up.  I was hoping like hell that he would choose Kevin to make the deal with just because it would've made me laugh to think of how they'd surely kill each other in the not-too-distant future.

[cooksdelight]

1 hour ago, eel2178 said:

I don't think they realized that they would have no more involvement with company or be able to collect a royalty on what was sold.

Me too. They are in for a rude awakening when Lori and Mark ramp this up and make millions, I predict. My husband is in the home construction business and he’s constantly looking for ways to organize his cords, wires, etc. He and I both looked up the tape and found the review I mentioned earlier.

 

45 minutes ago, hoodooznoodooz said:

I'm confused about what one of the Easter egg guys said. "I don't want my children to see their parents eating the crusts off peanut butter and jelly sandwiches."

As others have said.... he was poor growing up and doesn’t want his kids living that life.

[anonymiss]

Don't care about his business but it was fantastic tension watching the Coin Out guy manage to stay just above getting kicked out of the tank. Like Barb said, it was a rare sighting to see someone go toe to toe with the Sharks on attack and, in particular, Mark. I like and dislike Mark's (arguably warranted) arrogance so it was very fun to watch.

I felt bad watching the suitcase/"cool car" guy talk himself out of a deal for his original product. He had no idea how he would be perceived and was at a disadvantage of not being a student of the show and making classic errors.

[hoodooznoodooz]

13 minutes ago, cooksdelight said:

Me too. They are in for a rude awakening when Lori and Mark ramp this up and make millions, I predict. My husband is in the home construction business and he’s constantly looking for ways to organize his cords, wires, etc. He and I both looked up the tape and found the review I mentioned earlier.

 

As others have said.... he was poor growing up and doesn’t want his kids living that life.

Thank you to all posters who explained what he meant. I guess what confuses me is, does this mean his own parents would make pb&j sandwiches for the kids to eat, and the parents' meal consisted only of the crusts off those sandwiches? Yikes. 

[seacliffsal]

What frustrated me about the coin out guy was that if I was standing in line and everyone in front of me had to take the time to input their phone number, etc., I would probably just leave and go elsewhere.  It seems like it is a lot of effort for minimal change.  And, I agree with others, a lot of people just toss change into a tip jar.  I also pay cash for coffee, fast food, etc., when I get change I leave the line (so as not to hold other up) and then just GASP! put the change back into my wallet.  I know!  Who would have thought....  I do like the idea of putting change in a jar at home and then using it for a vacation or something else.  Oh, and sometimes people need change so it is a good thing.  I also didn't understand all of his "it costs so much money for businesses to use cash."  

Either the sisters didn't understand the deal or they were just that desperate to get rid of the company.  Maybe they were so worried about the 'cuteness and cleverness' of their presentation that they didn't think they needed to pay attention to pesky things like details.  

[KaveDweller]

6 hours ago, eel2178 said:

I still think they didn't understand the deal. They seemed pretty naïve.

I agree they didn't seem that savvy, and it seemed weird they were so excited about selling 100% of the business. But how do you not understand 100% means walking away?

[kimberwatch]

I hate the change guy so bad that I'm going to start paying in cash, just so I can start collecting change in a crusade against him.

He was arrogant and rude and there are already a million solutions to this supposed problem.  Heck, McDonald's drive-thru has had a thing you can toss your change into for charity for years underneath the window.  I also don't get why they were so impressed with the phone number idea.  Caribou Coffee has been using mobile phone numbers to check-in for years, as does another big fast food chain in MN, just to name two.  Finally, he was centered on baristas, but Starbucks and every other coffee retailer has their own app that they are trying to steer you to use.  Loose change isn't going to change their minds about capturing your money for their own selves.  

Stupid Robert for giving him a deal...  although, I doubt it is one that will be finalized.

[cooksdelight]

The change idiot reminded me of the guy who had the app that would round up your purchase to a solid number and deposit the difference in your college repayment fund. I have some of the old casino plastic cups (remember those??) and fill them up with my leftover change. My husband has a doohickey that counts your money as you dump it into the container and it gives you a digital readout of how much is in the thing. Money isn’t going anywhere, it’s been around for centuries.

[retrograde]

I hate change, but the only time I'm dealing with it is if the store doesn't take card and if the store doesn't take card I don't think they're the kind of place that will adopt the Coin Whatever-it-was program. The US is obviously moving away from cash, and fast -- an increasing number of stores now don't even take cash -- so this doesn't seem like a very sustainable business either way. 

The design of both the scooter and the bag were super dorky and I can't imagine any college kids using them. Wacky uncles maybe, I don't know.

[eel2178]

16 hours ago, retrograde said:

 The US is obviously moving away from cash, and fast -- an increasing number of stores now don't even take cash -- so this doesn't seem like a very sustainable business either way. 

 

Go to mafia controlled areas of big cities, and you will find plenty of cash-only business. It is a lot easier to cook the books if you don't have credit card receipts of every transaction.

20 hours ago, KaveDweller said:

I agree they didn't seem that savvy, and it seemed weird they were so excited about selling 100% of the business. But how do you not understand 100% means walking away?

I think they were just fixated on getting twice a much money as they asked for. I really don't think it registered that they had given away their entire business.

[BusyOctober]

Small business may be getting swallowed up by big chains, but for the “mom n pop” shops still hanging in there, many of them like cash better.  Credit/debit card companies already charge them for processing transactions.  Will they want to spend an additional $20/mo plus 3% to Mr. I Hate Coins? They are struggling enough to stay above water. As for cash going away, I don’t think it will be as soon as he thinks.  For example, people have been talking about getting rid of the penny since I was a kid in the 70’s.  They are still in circulation. 

[bilgistic]

The coin guy said that "it's expensive" for stores to use cash because they have to have real money delivered by armored-vehicle service. But what percentage of stores have to do that? What percentage just get cash from the bank, which costs nothing beyond what they already pay to have an account there? A locally owned store isn't getting armored-vehicle cash delivery (because they don't have the volume/need) but it seems like that's who he was trying to market to. I don't understand why no one challenged him on that.

[EtheltoTillie]

I really feel bad for those sisters. 

[cooksdelight]

2 hours ago, bilgistic said:

The coin guy said that "it's expensive" for stores to use cash because they have to have real money delivered by armored-vehicle service. But what percentage of stores have to do that? What percentage just get cash from the bank, which costs nothing beyond what they already pay to have an account there? A locally owned store isn't getting armored-vehicle cash delivery (because they don't have the volume/need) but it seems like that's who he was trying to market to. I don't understand why no one challenged him on that.

I’m glad you brought that up. I live in a town of around 2,500 and the only armored trucks I’ve seen are at the bank, or one of our larger grocery stores. As you say, everyone else has someone in the business who goes to the bank to make deposits, etc. Oh, and Harrah’s. :)

[BusyOctober]

4 hours ago, cooksdelight said:

7 hours ago, bilgistic said:

The coin guy said that "it's expensive" for stores to use cash because they have to have real money delivered by armored-vehicle service. But what percentage of stores have to do that? What percentage just get cash from the bank, which costs nothing beyond what they already pay to have an account there? A locally owned store isn't getting armored-vehicle cash delivery (because they don't have the volume/need) but it seems like that's who he was trying to market to. I don't understand why no one challenged him on that.

I’m glad you brought that up. I live in a town of around 2,500 and the only armored trucks I’ve seen are at the bank, or one of our larger grocery stores. As you say, everyone else has someone in the business who goes to the bank to make deposits, etc. Oh, and Harrah’s. :)

THIS!  I worked for a national retail chain for over 10 years.  I was an asst mgr, then manager for most of that time.  Every morning before opening, a mgr or asst mgr walked to the bank down the street to get change for the day.  At closing we walked in pairs back to the bank with the night deposit.  Never once did the Wells Fargo truck back up & dump a load of $10's & $20's on my delivery dock.

[cooksdelight]

I’m starting to lose faith in the Sharks’ knowledge base. 

[bilgistic]

Granted it was 20 years ago, but I worked as a cashier at Best Buy while in college, and we didn't have armored-vehicle cash delivery/pickup.

[SnarkyTart]

16 hours ago, bilgistic said:

A locally owned store isn't getting armored-vehicle cash delivery (because they don't have the volume/need) but it seems like that's who he was trying to market to. I don't understand why no one challenged him on that.

Barbara did try to challenge him, but everyone just kept yelling at each other over the top of her, so the coin guy got away with not having to respond to her question.  She asked him something like, "Are you saying Subway has an armored car showing up?"

[bilgistic]

I missed that. I wish they'd let each other speak without interrupting. And then when a presenter asks to let each Shark speak with their offer, they all start in about how this person's or that person's offer is going away. This isn't a game show. Let people talk.

[basiltherat]

I think the sisters were more than happy to get rid of daddy's business -- That may have been the only thing he left them, so its at least cash free and clear!  Also, it seemed like the patent had lapsed, so there wouldn't be the kind of guarantee that the Sharks like.

[sasha206]

On 2/20/2018 at 5:21 PM, BusyOctober said:

Small business may be getting swallowed up by big chains, but for the “mom n pop” shops still hanging in there, many of them like cash better.  Credit/debit card companies already charge them for processing transactions.  Will they want to spend an additional $20/mo plus 3% to Mr. I Hate Coins? They are struggling enough to stay above water. As for cash going away, I don’t think it will be as soon as he thinks.  For example, people have been talking about getting rid of the penny since I was a kid in the 70’s.  They are still in circulation. 

That guy, and his product, drove me insane.  With all the great rebates on credit cards, most people are whipping out their cards to pay for their drinks rather than carrying around money.  I may be in the minority, but I pay off my credit card bills in full every month so it pays for me to use it b/c of rebates.  So I don't deal with change and get a nice chunk of money at the end of the year with one card or redeem through Amazon on another card.  

[sasha206]

On 2/19/2018 at 8:01 AM, BusyOctober said:

Haaaated the Sisters & their shtick.  I couldn't stop wondering if the straight-hair sis was wearing a wig or not...that bob looked fake to me.  As for their deal, I don't get it.  The got $100k to walk away from the company?  No involvement in their father's legacy?  No royalty?  No spot on the board?  No stock options?  Just seems like they were happy to dump the biz and be able to say "OK Dad, your dream lives on, but we OUT!"

 

It was most def a wig!  I kept focusing on that too.

I also think they were happy as hell to get out of the deal.  I don't think they were confused at all.  They wanted the quick cash versus having to put time an effort into running a business they really didn't want.  Sure, if it goes big an Mark and Lori rake in the dough, it may be bittersweet but I think they just wanted out.

[seacliffsal]

I just had a thought about the coin out guy.  He mentioned how cash will be disappearing in the future with electronic purchases.  So, why is he asking so much for his app if he is really convinced that currency will be obsolete in the near future?

[Jillybean]

On 2/19/2018 at 8:01 AM, BusyOctober said:

Haaaated the Sisters & their shtick.  I couldn't stop wondering if the straight-hair sis was wearing a wig or not...that bob looked fake to me.

 

It was definitely a wig and it distracted me for their entire pitch. 

The Coin Out guy was a prick, and shouldn't have gotten a deal just because he is going to be impossible to work with. His idea is dumb, too, and I didn't hear any discussion of how it is going to make money for the investor.

Edited February 24, 2018 by Jillybean

[Amarsir]

Lori: "I hate coins. I don't even like to carry money. So I totally get your product."

Um, no you don't. If you don't carry money, you have no use for his product. He's only going after people who DO like bills but DON'T like coins. (Which has the additional burden of going the opposite way of how Europe is and how some want us to go - replacing the $1 bill with a coin.) I think the product was silly and was at best a gimmicky way of moving sideways into the payment provider space.

That said, I didn't mind the guy. He certainly exuded confidence, but it wasn't "I'm awesome and you should be delighted to work with me" arrogance. He believed in the business (again, wrongly) and fought pointedly on its behalf. Whenever Sharks offer a shot clock, we the audience often say "they should want a partner who hears all the offers." Well, they should also want a partner who fights strongly for the business. The phrase "with all due respect" certainly pushed into overuse, but overall I don't think he was anywhere near some of the obnoxious pitchers we've seen.

Similarly yet at the other end of the spectrum, I didn't mind the sisters either. Yes, their pitch was silly. But that's what ABC wants; it's what gets you on the show. Very importantly, they were able to turn it off. The annoying overly-energetic entrepreneurs that bug are the ones who keep going at level 11 the whole time. They knew what they were doing and when not to, and that's fine with me. Also I don't mind them agreeing to sell since it's probably the right outcome. That sort of thing doesn't come up frequently, but it's valid when it does.

[needschocolate]

I was surprised the sisters didn’t insist that the Sharks keep their dad’s name on the tape (and,  as others have mentioned, ask for a royalty)

Store owners aren’t going to want change guy’s screen taking up counter space snd store employees aren’t going to want it taking away their tips 

When I was a kid, we had a thing that you put an egg in and you could make it go around by turning a crank. It had a little arm to hold a marker, which would write on the egg as it turned.  It got boring quickly.  

I thought the egg/ornament thing was much too expensive to be successful. I wonder if people who bought one found another use for it that made it worth the price

I figured scooter guy wasn’t going to get a deal when the sharks didn’t even ask about the car - cost to make, how long a charge lasts, etc

[cooksdelight]

I quit making ornaments a long time ago. My mom did them, she got each month and it usually involved gluing ribbon and sticking in pins with sequins and beads. My last ornament making spree was about 20 years ago. I bought clear balls and filled them with popourri and glitter. I would never buy either decorating tool, I also quit doing real eggs a very long time ago. They don’t wind up getting eaten by anyone.  I use the plastic ones over and over again with candy inside.

[Diana Berry]

So what if she was wearing a wig...we don't know her personal situation.

 

I carry cash quite often because I feel it helps me with spending less money instead of whipping out the card each time.  I put my change in a bucket but wouldn't mind using the app.