but you know what? it's sour grapes. what we did was great. thank you. i love it. narrator: welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ first into the tank is a multi-use accessory for new moms. hi, sharks. my name is melanie disbrow, and i'm from allen, texas. my company is milk snob, and i'm here today asking for $125,000 in exchange for 5% equity in my company.

almost all new parents use some kind of infant car-seat cover, but the conventional blanket and canopy covers, they would not stay put. mm-hmm. my kids would pull on them, and they would fly off in the wind. [ cuban laughs ] -wow. -been there. [ laughs ] disbrow: this is the milk snob cover. it fits on any infant car seat within seconds. it is breathable, and you can peek at your baby any time without waking their precious slumber. it's super soft, which is great 'cause it's also a nursing cover. so, when you're ready to breastfeed, you just take it off and you put it on. it gives you 360 coverage, it's breathable, and you can nurse confidently in public, wherever you go. when you're done nursing your baby, you just take it off and you put it back onto the car seat.

the milk snob cover has become a must-have fro new parents everywhere. so, i'm asking you, sharks, who of you must have me as their partner? [ laughter ] i'm just gonna pass out samples. melanie, i would think that the best part about being a baby would be to see where you're going. no? in a carriage? [ laughter ] you can actually adjust it and you can lower it down the handle... thank you. ...which is really great. thank you. i appreciate it. it feels great. how long has the milk snob been around? what are sales gonna be this year? we've been selling this 18 months... yeah? ...and we made $1.2 million... that's good. ...in sales. -wow. -wow. -i didn't expect that. -congratulations. -thank you. -[ chuckles ] and where did you sell? was it all online? i only advertise on social media. i've actually seen you online. my wife showed me -- you were in the facebook "little mamas" group. yes.

when this showed up on "little mamas," she literally showed me, and i was like, "yes, that. i've been dying for that." is social media your background? no, social media is not my background. actually, i'm from germany. and i met my husband, he was in the military, so i move with him to the united states. and i did not really have the time -- we had children, you know, on the way. and so i couldn't go to college. so, when my son was born, i actually taught myself photography. what do you sell it for? i don't think you mentioned that yet. we sell it retail for $36. -wow. -what's your cost? what does it cost you? so, the cost is $7.60. and everything is made in dallas. good for you for manufacturing in dallas, in the united states. that's awesome. yes. in the last five months, we made $800,000 in sales. -wow. -i love this story. that's amazing. what a surprise. dallas, baby! [ laughs ] why are you here? this is one of the more successful businesses i've ever seen. i'm here because i'm looking up to you guys, and, actually, i'm a horrible public speaker

and i pushed myself just to meet you guys. and i'm just so happy that i'm here and i want to take this to the next level, because we also got approached by bigger retail stores, so i would need a great partner who just lets me know, "melanie, you have to do this and this." look, i'm blown away. i'm gonna make you an offer. i'm gonna give you 125k for 8% of the company. -8%? -say yes. say yes. that is a really great offer. my wife is my investing partner. we work from home together while raising our three daughters together. i literally am a driver of that device. i mean, the only contingency in my offer is that i get to take a couple of these home with me tonight... [ laughter ] ...because i need them now. [ chuckling ] yeah, yeah. you know what, i'm gonna go out, because i think that's a great offer. yeah. i really like what you're doing. i'm gonna give you 125k for 10%. and the reason i'm doing 2% more is because the value that i bring to it is worth it.

i'll give you $150,000 for 10%. oh! i'll raise the bid. oh, come on. yeah. it's my offer. i can make any offer i want, chris. i don't need your guidance. and i'm gonna clear the deck. i'm not gonna make you an offer, so i'm out. you have three offers. if i go home tonight without owning a piece of this company, i'm gonna have to answer to somebody, so... well, then pay her more. ...let's figure out how to do this deal. he's got tons of money. ask him for a lot of cash. see, what i was starting to say -- lori definitely has some incredible skills. right? -okay. but she's not hanging out on "little mamas" right now. she doesn't know some of the social-media channels you're using to generate some of this awareness. i don't know why he's saying that, 'cause he doesn't know me very well, but that's okay. look, look, qvc's amazing, but they still sell vcrs there, okay. i'm not just qvc, which tells you how little you know about me. "they still sell vcrs." i like that. so, you need to do a little educating. so, lori, would you go down to 8% equity? how about if i give you $150,000 and i keep the 10%? i think she just copied my deal because she has no creativity, unfortunately. [ laughs ]

-is it possible -- -i like the 10%, because i really want to be working hard for you. okay. and i know what kind of resources i would put behind you. well, here's the funny thing -- absolutely. i would love to do a deal with her, except i learned my lesson last year. he holds a grudge. that's not a good thing. i don't want to pre-empt her. i think there's value she brings -- i've been trying to say this for a few minutes now. would you join together? that would be -- make my dream come true. [ chuckles ] it would make so many of my dreams come true, too. i've been dying to work with lori. [ laughter ] but 5% is nothing. okay, so, if you joined, how would that look like? well, you make us the joint offer right now. you're gonna have the benefit of two sharks, and so there's got to be more equity. [ sighs ]

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saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $200 back when you when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. narrator: two sharks are out. melanie has three offers on the table for her car-seat cover, milk snob. but she wants lori and chris to partner together, so they've asked her to make them an offer. sacca: you're gonna have the benefit of two sharks, and so there's got to be more equity. [ sighs ] how much equity are you willing to sell? i work so hard for this company, and i don't want to give up more than 5%. but you can't get sharks interested in 5%. the highest that i would go is 10%. so, if you guys would split it... when you take a product like this, i feel you need to blitz the market. 'cause what happens with products is people get knocked off. -yes. -it just happens. so, you need to blitz fast.

i understand you don't want to give up more than 5%, but i think 10% is worth it to the shark. so, your offer was 10% for -- i went to $150,000 for 10%. okay. and you, chris? i'm out. i'm out, too, 'cause you're not even talking to me, so... okay, so...are you sure? i don't see you having the flexibility on the equity that it's gonna take to make us both interested. ♪ lori, you actually were my pick, so i would love to accept your offer. [ chuckles ] good. -yay. -good. yay. disbrow: thank you. we'll blow this up. yes, thank you so much, lori. it's great, it's great. thank you. -be proud. -yes, thank you. can i buy this one right now? yes, yes. i'll hook you up. okay, thanks. cuban: "i'll hook you up." [ laughter ] thank you, guys. -thank you. -congratulations. ♪ disbrow: i'm so excited that i partnered up with lori.

our sales are gonna skyrocket. it's amazing. it's amazing. narrator: in season 7, mike doyle and drew mitchell made a deal with mark cuban and chris sacca for their event-based home-rental business, rent like a champion. 10% total for 200k? correct. we would love to do the deal. narrator: let's see what they're up to now. doyle: today, we're in auburn, alabama, just blocks from campus. we're at a rent like a champion home, and it's game day. we're throwing a huge tailgate party, inviting homeowners and potential renters. the best part is mark and chris are coming down to make the event even more successful. -whoo! -yeah! cuban: we're out here in auburn, alabama. we promised our guys that we'd come out and tailgate with them, so here we are. sacca: you know, this is one of my first deals on "shark tank," and i was actually on the verge of going out, but these guys kept selling, and i'm so glad they closed me. when do we get to $10 million in revenue? i think next year's the year. doyle: the year before "shark tank," we did $2.3 million in sales. since partnering with mark and chris, we've done $5.46 million in total rentals. mitchell: mark just really stepped in

to help us focus on our business by taking back-end operations off of our plates. at chris' urging, we've been looking for new markets to expand into. we are now official partners with six pga golf tournaments, providing private home rentals for players, caddies, and tournament sponsors alike. all right, who's ready to watch some football? [ all cheer ] our business started with a small problem. we never had any idea that we'd have the opportunity to go on "shark tank." this has absolutely been a dream and a life-changing experience for the both of us. sacca: look, i've seen what it looks like when a company goes from zero to tens of billions of dollars. these guys have that same kind of vision, grind, hustle. they know they're just getting started. all: rent like a champion!

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narrator: next into the tank is a kid entrepreneur who wants to help other kids fulfill their entrepreneurial aspirations. hi, sharks. my name is jack bonneau. i'm the founder and ceo of jack's stands & marketplaces, and i'm from denver, colorado. hi, sharks. i'm steve bonneau. i'm jack's dad. i work for jack. sharks, i'm seeking $50,000 in exchange for 10% of my company. i'm 10 years old, but when i was 8 years old, i really wanted a lego set, but it cost $400. the good news was, my dad said i could have it. but he'd have to pay for it with his own money. so i did what most of you probably would do -- i started my own lemonade stand. after 12 weeks, i made $900 after expenses... wow. ...learned some valuable lessons, and, yes, i got my lego death star. [ laughs ] the experience is exactly why i created jack's stands & marketplaces. jack's stands & marketplaces

provides kids and their families opportunities to learn about entrepreneurship, business, financial literacy, while having fun and making some money. we provide everything except their mood and their enthusiasm. jack's stands offers kids the opportunity to sell lemonade and other drinks. we offer kids the opportunity to sell more than just lemonade -- jack's marketplaces provides young entrepreneurs the opportunity to sell their products in authentic and great marketplaces, and have kids sell those great products and tell the inspirational stories of these young entrepreneurs. so, sharks, our challenge and question to you is -- who wants to make money? while inspiring our nation's youth and entrepreneurship. so, jack, tell us about the actual business. i have seven locations, where the other kids operate my stands. i'll teach them how to greet and serve the customer, how to make -- is this all in denver? this is all in colorado right now. and where are they located in colorado? so, we have two locations in a mall, and then we have five other locations in farmers markets and -- jack, the mall locations -- how much do you pay in rent,

and what is your revenue from those locations per month? the rent's on a percentage basis, so it's 15% for the mall, and the revenues to date is approximately $15,000. -per stand? -$15,000 total. that's the two stands in the mall? two stands in the mall. and how many months have they been in there? nine months, approximately. nine months. this year, we're gonna expand into 12 locations. this year, we're projected to do $150,000 in sales. good for you, jack. way to crush it, buddy. thank you. $55,000 of that is from my stands, and $95,000 of that is from my marketplaces. next year, we're projected to do $1 million in sales. [ laughter ] so, jack, in order to know you're profitable, you have to keep track of all your numbers. how do you keep track of all your numbers? at the end of the day, we'll go through a mini profit-and-loss statement to figure out the kids' revenue, expenses, profit, and tips. so, what do you do to help jack? right now, i'm behind jack 100%. i had my own company, that was a modest success,

but the journey that we've been on for the last three years -- working with the kids, seeing jack grow -- it can't be beat. cuban: if i wanted my daughter alyssa to set one up in a local mall, what would i pay you -- or what would she pay you? the kids get between 10% and 15% commission of all the sales. the kids would show up, and jack would show them how to -- but i'm gonna be in dallas, right? you're not gonna just have people in colorado? well, we try to find families that are championing a location, and jack would come down and teach those kids how to operate the stands. let's get serious, now, 'cause $50,000 is not a small amount of money. i love the story. i love entrepreneurs. but i want them to be full-time when i invest in them. i don't want you to drop out of school. i want you to finish your education, then come back to me. but for now, i'm out. ♪ sacca: so, let me ask you a question. where'd you get the money to start this business? so, my parents loaned me $1,000

just for the first stands, the supplies, and then for working capital, but i've since paid my parents back. i've also gotten other loans from young americans bank, a great bank in denver. my first loan from them was $5,000, and then -- -what? -yes. are you serious? steve: young americans bank is the only bank in the united states that solely works with kids. hey, jack, have you paid back the $5,000? we're currently 60% paid off. what's that monthly payment like? um, it's about $250. jack, you're incredible. i mean... [ clapping ] one of the reasons i do this show is to inspire kids like you. i hope my kids, millions of kids watching can turn what they see into a dream and from a dream into a real company. you know, i started my first company when i was 10, so i definitely love what you're doing. the challenge is, there's millions of kids who might want to do the same thing. i don't know if you can manage it all.

you haven't really taken it to that point to demonstrate that you can support them outside of denver. and so, while i applaud you, i have to say i'm out. ♪ okay. thank you so much for your time. thank you, jack. corcoran: to the marketplace. i think that's the wrong road for you. i think the lemonade stand, kids are gonna learn. it's easier, it's cheaper, you're in, you're out, and you don't have an inventory issue. i worry about controlling the inventory, keeping it staffed, telling your stories. it complicates it times a hundred. i'm out. but a phenomenal job here today. a true inspiration. thank you so much. greiner: jack, you are amazing. i cannot believe how you came in here, spoke so eloquently, so sharp, so fearless, and you're 10. blows me away. thank you. but i think you should grow very slowly. because you are 10 and you are in school, i think that you should wait till you're a little older before you expand too much.

i wish you the best. i'm out. thank you so much. sacca: so, here's the thing. there's no way i'm gonna let the best pitch of the year get out the door without an offer there. you said you're financing some debt -- a couple-hundred dollars a month right now. jumping up to $50,000 is interesting. so, here's what i want to do, though. i want to offer you a $50,000 loan at 2% interest. but i've got some conditions on it. one is, you draw it down $10,000 at a time. and each time you draw down a $10,000, we wait a few months and we see how you're doing -- if you're keeping up on the payments, if the business is holding up. and if it is, then you can draw down another $10,000. okay. two is, i think you should start a video podcast. i think, whether it's on a youtube channel or facebook or periscope... that's a good idea. ...i think there's a great opportunity for you to share these lessons with other entrepreneurs and make some ad revenue doing that. o'leary: jack, if you take that deal, you'll be the most in-debt 9-year-old i know.

[ laughter ] um... we'd love to take your deal. cuban: congrats, jack. good job. -congrats. -good move. -congrats. -thank you so much. congrats, buddy. thank you. all right, good luck. thank you. -congrats, guys. -thank you, guys. good job. [ applause ] he's now $60,000 in debt. he's 9 years old. [ laughter ] yes! yes. nice job. thank you. jack: it was just awesome. just to get an offer made my heart skip a beat. but even though mr. wonderful said that i was the most in-debt 10-year-old in america, i will pay all of my debt back by growing the business.

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♪ my name is jae kim, and i live in austin, texas. i was born and raised in south korea. when i was 11 years old, my mom decided to bring my sister and i to united states to live a new life. soy, kimchi fries, and some more tacos, guys. korean food is passion for me. i graduated from college. i didn't have the money to start a restaurant, so i decided to start a food-truck business. hi. our food truck was so popular that we've grown to a fleet of food trucks and three restaurants. enjoy. we're serving korean barbecue in a way that people can eat every day. hi, jae. we miss you.

i owe everything to my mom. she taught me to never give up. i applied to "shark tank" four years ago, and no luck. i applied second time -- no chance. this time, i have a fleet of food trucks and restaurants. this is my big opportunity, and i don't want to blow it. ♪ yes! it's so great to finally be here. my name is jae kim. i'm the founder and ceo of chi'lantro bbq in austin, texas. i'm seeking $600,000 for 15% of my business. it's taken me a while to be in front of you today. four years ago, i tried with one food truck. any luck? nope.

two years after, i tried again with five food trucks this time. any love? nope, no love. [ chuckles ] and today, i have a full fleet of food trucks and three fast-casual restaurants that are extremely successful, and two more on the way. i envision chi'lantro empire. chris, i'd love to invite you, because i know that you've invested in restaurants. so, could you make korean barbecue bowl with me? let's do it. kim: thank you. just come right this way. you don't have to ask me twice for korean barbecue. all right. you know me well -- we're starting with the carbs. absolutely. we have brown rice, white rice, and noodles. let's so white rice. all right, let's do it. all right, and we have korean barbecue next -- soy-glazed chicken, korean barbecue beef, and spicy pork. you tell me. i'd say korean barbecue beef. we have all the veggies on the side... mm-hmm. ...so i would add some fresh veggies. lettuce, carrots, purple cabbage,

some cilantro, and onions. oh, but wait, it gets better. it gets better. we have some -- the original kimchi fries. -fries! -right. all right, and this is for you. and we have some signature sauces on the side for you to try. see, it pays to be the most handsome shark. [ laughs ] ♪ -thank you. -enjoy. can i ask what the sauces are here? -yeah, absolutely. -these look interesting. absolutely. it's our magic sauce. -yum! -thank you very much magic sauce. there you go, mark. enjoy. thank you, sir. appreciate it, jae. this has zero calories, right? uh... okay, what are we eating? what you have in front of you are two of my favorite dishes -- korean barbecue bowl and the other is the original kimchi fries topped with korean barbecue, caramelized kimchi, and our special magic sauce. where are you from? i grew up in korea. my mom is divorced, so we came to the states.

and it was really hard for us to be growing up... you know, for me, i really really needed to, you know, step up and really help out the family. and my first business was when i was 21. i ran a coffee shop. so, i worked there every single day while paying for my college tuition and going to school. and, obviously, having the first business, i failed. why do you think it failed? i didn't have a vision for the business, so i just worked every single day just to pay the bills. and when it came down to it, i just didn't see where i could take this. so, i called it quits. but afterwards, i just started thinking about, "i could have done this differently," and that really fired me up. when i first started this business, i had $30,000 in savings, and i maxed out my credit card just to survive for six months. no, but you know what, that says something. you started your coffee shop. yes.

you paid for your college, and you managed to save $30,000. that's right. let me just tell you, every day, people give me e-mails saying, "oh, my goodness, i need to borrow money. oh, my goodness, i need to go out and raise money." and they always say, "what's the best way?" and i always say, "save." right? and you're just the perfect example of that. if you bust your ass and you cut your costs, you can save. and so bravo, man. thank you. -that is awesome. -thank you, mark, so much. that's the american dream right there. the food was fantastic. really good. i like the fresh elements to it. i can see why it sells. let's get into the numbers a little bit. last year, we did $4.7 million. yeah! $4.7 million. that's badass. how much from the trucks? food trucks are around $300,000 to $400,000. restaurants are doing about $1 million to $1.5 million per unit. we've maximized our growth. but it really comes down to, you know, i need more money to really grow. hey, jae, can we take a step back? sure. now that i'm catching my breath,

that's some of the best food i've ever eaten. -thank you, chris. -it's absolutely delicious. and i can see why you've had this success. so, are you gonna hit $5 million-plus sales next year? yes, we're gonna be doing $6 million this year. so, you have actually lived the american dream and every essence of it. -amen. -mm-hmm. i try my best. how many restaurants, how many trucks do you want to have? my goal is 15 restaurants doing $15 million in revenue. jae, i've invested in a number of restaurants. i think our most well-known is "veggie grill." but when we invest in those restaurants, we're not the growth capital. we're the people who are helping them in the early days try and completely change the game. we're bringing plant-based food affordably. and really delicious food to a brand-new audience was what got us into that deal, not helping them scale from 20 locations to 50 to 100. you're kicking a lot of ass, and it's absolutely delicious. but, you haven't told me what you are uniquely doing to change the landscape for everybody else. and so, as they say, if it's not a "hell yes," it's a no. so, unfortunately, i'm out. thank you, chris.

my challenge with your deal, jae, is having invested in restaurants in the past and not having a good outcome as a result, it's made me a little more skeptical about that part of your business. so, when you open a new restaurant, if the location doesn't work for any reason, you can't just move it. you have a lease, you've got a lot of capital tied up. i don't like that part of your deal. for that reason, i'm out. thank you. jae, you're a shining-light example for every entrepreneur watching. this is the way you do it. brains are always a whole lot more valuable than cash. food was beyond spectacular. i love it. i'm just not a restaurant guy. i get pitched restaurants every day. in order to do them right, to be anything other than dumb capital, you've got to be there helping side-by-side. and that's just not a fit for me right now. i'm out. thank you. i am a fan of korean barbecue, and this is the best i've ever had.

i think that this is great, but i don't see it as a good investment for me. i'm a little bit leery about your model of growing. sometimes, i think it's better if you really get a good hold on what you're doing before you expand it too fast. so i'm out, but i love it. thank you. okay, jae, four sharks are out. what are you gonna do, barbara? i've learned that people that start a food business, if they're any good and worth their salt, that they're very good people in their soul. because you're serving food to people, and that takes a certain type of entrepreneur, right? i have one investment in tom + chee. that started out with $1.2 million when they were in "shark tank," and they were a baby business, but at least had one truck, two shops. and now they're doing $51 million in sales. i'm your ideal partner because i know exactly the structure problems they had in developing their business. i know the obstacles they jumped over. i know how to franchise, how not to franchise,

and i think this is a franchise play. i have an offer for you. and i could actually take more advantage and be more aggressive, 'cause none of the other sharks are interested. barbara, if you get greedy, i'll jump back in. i'm gonna offer you $600,000 for 30% of your business. -ouch. -whoa. but what i don't want you to do is judge me as a financial partner, because i'm a heck of a lot more than that. i'm really savvy in your space. and whatever your dreams are over the next three-to-five years, i have no doubt in my mind that i could get you there really fast without making a lot of mistakes. so, barbara, thank you for the offer. i really appreciate it. we're profiting at a 15% profit margin, which means i'm able to pay you back a lot more faster in case that this wasn't a good deal for you. so, 30% is a lot of a percentage. would you consider coming down to 20%?

you got yourself a deal. it's a fair deal. -yeah! -wow. -thank you. -congratulations. you are a straight shooter. i'm crazy about you. [ laughter ] yeah. i'm leaping to you, baby. -aw. -oh. oh, my gosh! ah! look what happened! -i'm sorry. -you're disgusting! i'm sorry! [ laughter ] oh, i'm sorry about that. -i'm very happy about it. -thank you so much. my pleasure. -congrats, jae. -thanks, guys. cheers on all your success. it's inspiring. whoo! i do what i do for my mom and my sister. [ voice breaking ] so, it's important for me... to make sure that i'm there for them, you know? that i do my best. that -- that -- that i don't give up.

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narrator: next up is a technology to make house hunting more convenient. hello, sharks. my name is junior, and i'm from the big "d" -- dallas, texas. -what! -yeah. [ chuckles ] i'm here seeking $500,000 in exchange for a 10% equity stake in my business, toor. as you know, buying a home should be fun and exciting, especially if you're touring with barbara. but for the rest of us, not so much. it's time-consuming and frustrating. imagine -- you're driving down the street, trying to look for that perfect property, and you spot one. now what? you can call an agent and wait days for an appointment, or, even worse, wait weeks for an open house. wouldn't it be great if you could tour that property right there, on the spot? well, thanks to me, you can. [ scattered chuckles ]

i'd like to introduce you to toor, the world's smartest lockbox. toor is the first lockbox that allows buyers and sellers to access the lockbox with or without an agent. wow. barbara, i know you've opened some doors in your career. i'd love some help. sure. thank you, dear. thank you. desinor: so, imagine barbara's driving down a street and she sees a property for sale. she pulls it up on the toor app. she immediately sends a request. the seller approves her showing, and immediately, barbara is able to tour the property. so, barbara, simply walk up to the box. mm-hmm, okay. press the power button until you see that color wheel. okay, now simply press "open" on the app. okay, easy enough. there you go. that's the coolest part! now the lockbox opens up. okay. that's the coolest part. she'll grab the keys, tour the property on her own or with a realtor. feel like a winner. now, once your done, put the keys back in the lockbox. okey dokey. and simply press "close" on the app. there you go. give it a second, and it will close right up.

the seller gets a notification saying barbara's completed her tour, and now barbara can leave feedback and be on her way. thank you so much. nice handshake. thank you. -nice suit. -thank you. desinor: so, sharks, which one of you guys wants to join me in opening this door to opportunity? o'leary: junior, while it's fresh on my mind... yes. ...what happens if the person who just did the tour does not redeposit the key, but closes it anyways? if that key is removed for a set period of time that you, the seller, sets, you get a notification if that key is not put back. greiner: but if it were my home, i'm not sure i would want somebody to go in unescorted. great question. so, the beauty of our product is that you, the seller -- you get to determine what type of showing you want in your house. so, if you want an agent present, you simply require an agent present. that's very cool, because, normally, you have to wait... absolutely. ...you have to find somebody, that have to go get a key back at the office. you got it, you got it, you got it. junior, numbers. how much have you sold? yeah, so, zero. -zero? -zero sales. junior, you're killing me! it's 'cause we're brand-new. but, fortunately, we had a --

do you want your punishment now or later? no, no, no, later. later. wait, hear me out. hear me out. so, fortunately, we had a successful kickstarter campaign. we actually sold over 800 boxes, raising over $100,000. -amazing. -wow. so, we have over $100,000 in pre-sales. how much are you selling them for? so, the lockbox itself is $199. what does it cost you to make them? $50, and then $75 delivered to the customer. i'm very curious what your background is. i'm a real-estate broker. you sound like a real-estate broker. [ laughs ] sure does! i flipped my first house when i was 18 years old. when i was at college at texas tech, i was president of the real-estate organization. were you really? why is it that you like real estate so much? great question. so, my parents are from haiti. they worked hard to put me in a very nice private school. all my best friends lived in literally the nicest -- mark cuban's neighborhood, to be exact. ever since i saw these big houses, i fell in love with real estate. okay, junior, defend your $5 million -- before you get to that -- let me let it roll off my lips -- $5 million. how much money have you invested in this, junior. i'm not gonna stop, i don't know why -- kevin, i'm ready. i'm ready. tell me why it's worth $5 million.

here's how we make money. we charge a monitoring fee for these lockboxes. how much is the monthly? $100 a month. -ooh. -wow! what? that's a lot of money. nooo, guys. barbara, please, educate these guys on how much... [ laughter ] ...realtors spend every month, guys. it strikes me as a lot of money. look, last saturday, i visited 15 homes in a day -- each with an electronic lockbox on it. right. the agents just held their phone up. that's it. you got it. with bluetooth, they get in. so, these devices exist already. yeah, but -- so you have one incremental change on that, which is an interface where a user can say, "yes, i'll let people in when there isn't an agent there." that's the only thing that you're doing that's different. no. no, no, no. tell me what's -- what's different? here's what's -- i mean, i literally used this -- whoa, whoa, whoa, whoa. give him a chance, cowboy. calm down. you had to wait on that agent to let you in, right? yeah. so, the only thing you have different is the interface that lets the seller say... that's a big difference. ...go ahead an open it up. no! chris, imagine -- it's a big difference, but that's not necessarily defensible. -calm down, calm down. -let him talk. imagine if you could see five properties in one day on your own, as opposed to calling your agent, the agent calls the showing company,

the showing company calls the listing agent... look, junior, junior, i -- ...the listing agent calls the seller, the seller confirms it. that's right. they go back to the listing agent, the listing agent calls the showing company, the showing company then confirms with the buying agent. junior, nobody hates wasting time more than i do. but why can't the company that already has massive market share do exactly this? if you look at the incumbents in our industry, they're old, they're dated. their technology's old. they have no platform. they're so disconnected from realtors today. anyone in real-estate -- you can't convince me that somebody who actually has a smart lockbox operated by bluetooth is old and disconnected. i mean, it's, like, two-year-old technology. but there's way-- our platform is more than just a lockbox. literally, the verification part of what you're doing is the easiest part. so, what is, would you say, your secret sauce? i don't know if you have any ip on this, or what. -we do, we do. -what is that? we're patent pending -- the ability to open and close the lockbox mechanically without physically closing, which enables our remote opening and closing. and no one else can do that?

-you got it. -what? correct. no, that technology exists today! no, not on a lockbox. absolutely not. where have you seen a real -- you're absolutely kidding me. there is not a single lockbox out there that can close on its own. you know what, don't be so arrogant. i'm not so arrogant. i just know this space, and i'm sitting here watching somebody tell us that the state of technology is what it is. so, what lockbox can close on its own? [ stammers ] so, let me see if i get this. hold on. my god. let me see if i get this. while chris is having his disconnect. [ laughing ] chris. when chris went to look at 15 homes, how did you schedule those 15? we had an agent take us to half of them. i saw half on my own. no, no, that's not what i asked. that's not what i asked. how did you schedule them? you made a plan to go see 15 homes in a development. yeah. some of us grew up -- when we dreamed and aspired to buy a house... oh, geez. should we get the violin music out? just listen. listen. o'leary: junior, you've got the sharks arguing about your business model. beautiful. now, we happen to have barbara. you're miss real estate here. are you gonna give this guy $500,000? corcoran: it's a tough call. he's entirely right.

it clearly answers a need, and you're not gonna get any innovation out of the old guys in the industry. they would have invented it a long time ago. they're asleep at the wheel. they don't want the change because they own the market. right. secondly, you are probably one of the best salespeople i've ever seen in my life. barbara, thank you. i mean, not only do you know your stuff, you kind of leveled the playing field with this daddy warbucks at the end, wearing the fake cowboy shirt. greiner: well, listen. i like when people create better mousetraps, and this is a better mousetrap, obviously, for your application. but my problem here today is just that it's really, really early. mm-hmm. so, because you're not ready yet, i'm out. thank you so much for your time. i appreciate it. o'leary: junior, everybody agrees you're a great salesman. thank you, kevin. so, the problem is, you blew it by asking for $500,000 in the prototype stage. it's too much risk. however, i'd like to be invested

in a damn-good sales guy. i'm gonna structure a deal this way. i'll give you the $500,000 in two components. a hunsky -- $100,000 -- and i get the 10% equity for that. then i loan you $400,000. i'm gonna charge you 18% for that, which is what you would pay in the market. would you like to take that offer? does that make sense to you? uh, i'd like to consider the offer. you've got to make a decision. ♪ every investor should ask questions. is our money in the right place? what am i really being charged? and is it eating into my returns? is my advisor a fiduciary? is he always a fiduciary?

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e shark is out. junior has one offer on the table from kevin -- $500,000 for a 10% stake, but $400,000 of it as a loan at 18% interest for his smart-lockbox company, toor. would you like to take that offer? does does that make sense to you? uh, i'd like to consider the offer. i'd like to hear from my guys on the end here. junior, i'll save you some time. if i knew the real-estate business at all... right. ...i would do something with you. i just don't see a path where i can say, "i can help you get from here to here." as much as i hate to say it, i'm out. -thank you, mark. -you're welcome.

so, barbara, my dear. junior, i'd like to join kevin on his offer. but i need to have a contingency, because it's enormously high-risk. okay. it's contingent that we can sell it to a giant chain to buy a ton of these lockboxes. o'leary: and we'll both help you do that. it's nothing but calling all the heads of these firms, all right, allowing you to make your sales presentation. you're the best salesman we've ever met. [ chuckles ] we'll just get the door open for you. i still haven't had a chance to go out. and you're not. let's save the best for last. whoa, be careful, though. -got to be careful. don't -- -be careful. but i think you were testing me. i feel like the very best products and the very best entrepreneurs are the ones worth arguing with, right? that's what's led to the creation of the greatest companies ever. backpedaling like the sucker you are. no, because that means we're both emotionally invested in something. that's right. we both care about this. i'm torn. you're one of the greatest salespeople i've ever seen, but this is an idea that i think is looking backwards. let's be honest. keys are going away. not today. not today, but here's the thing.

i don't want a better mousetrap. i want a bear trap that's gonna be around in 10, 15, 20 years -- a big public company worth billions of dollars. these guys like the short term -- the two-year, three-year cash flow. junior, kick his heinie back to the valley. so, look, look, here's the thing, man. prove me wrong, make me pay 10 times more for it next year, but today, i'm out. ah, that's sad to hear, chris. kevin, to have you as a partner, barbara, to have a partner in the real-estate industry, obviously would be a no-brainer. here's what i would counter you -- $250,000 for 10%, and a $250,000 line of credit. ♪ can we step into the hall? yes, yes, if you'd like. [ chuckles ] okay, we'll do $200,000 for the 10%, $300,000 loan. ♪

-deal. -okay. -good job, guys. -good job, guys. you're a good salesman. thank you, my man. barbara, my dear. my dear. and i want to discuss it over dinner tonight. okay. [ laughter ] desinor: it was brutal in there, but i'm super thrilled about my partners. i'm ready to get to work. you know, you make a good point, it's old tech. but there's a ton of old tech in real estate, 'cause it's so sleepy valley. i've already seen the new tech out there. it's there. i used it last week. no, no, that's not true, and that's deliberate. what do you mean, it's deliberate? that's denigrating to him, chris, because the key isn't the software. the software's the easiest part. no, no, no. like, mark, you're not making any sense at all, man. i'm making total sense! no, no, no. you're not. where -- no, no... how stupid are you? how is he making you aware of that place? i know this is going over your head. no, it's not, mark. do you think people drive down the street and look for houses? they see their dream home, they see a "for sale" sign, they'd love to get in. you don't understand, mark. -and what do they do? -and what do they do? mark, the device exists today. it lets you in by bluetooth from your phone. not in that circumstance. not in that circumstance. with one new line of code, it can let in anyone.

so, in your example, i drive by, and i want it now -- right now. uh-huh, yep. right now, who do i call? so, you ping in the -- no, look, look, look. with the existing -- exactly. -hold on. -exactly. shut up and listen. don't be mad at me that i understand this better than you do. [ scoffs ] look, you're saying he's got some special way of getting me in the house immediately? no! no, no, no! then they're already ahead of him. they have exactly that. you have to go through the agent to get... listen! no, you don't. guys, guys, agree for the sharks to disagree. like how any agent gets into a house with the other technology. they walk up -- boom -- they're in the house. so what you're saying -- what the agents do, you can enable for the consumer to do. -absolutely. -right, i get that. hey, thanks for catching up. i appreciate it. except if you're not using the agent, you don't want to call the agent, and you want to make it available... corcoran: right now. ...so that the keys are right there and somebody who's comfortable with keys can use it. but he can't do that. yes, he can! he doesn't have a natural advantage there. hey, why don't we agree to disagree? so, why are a million lockboxes -- the traditional lockboxes -- why are a million of them sold a year? and why does the other company have millions of dollars worth of sales already, doing exactly this? all they have to do is flip one bit and expand their audience, and they win. how do you connect those boxes?

good luck, guys. i wish you luck getting your money back. have a seat, chris. we all agree we disagree. no, you got it wrong, chris. i sometimes wonder how you made all that money, mark. ♪ lemonis: tonight on at a family furniture business with nearly 40 years of history... ana: we have great people, we have great clients, we do a great product. lemonis: ...but the future is growing darker by the day. ana: february, march, april -- we almost couldn't make payroll. lemonis: their margins are paper-thin. what jobs are you making money on, 'cause you're not making money on this. their process is non-existent. lemonis: yeah, really bad. steve: they didn't sand it properly. lemonis: and the founder's poor health... ana: he was diagnosed with parkinson's a couple years ago. lemonis: ...has his daughter living in fear. ana: i don't want to see my dad one day just drop dead. lemonis: if i can't help them build a more stable foundation, this great american success story could come to an end.