Ep 7. Week 7

In season 1 episode 7 of Shark Tank titled "Week 7," entrepreneurs from various industries come to the show seeking investment from the panel of five sharks. The sharks on this episode are Barbara Corcoran, Kevin Harrington, Robert Herjavec, Daymond John, and Kevin O'Leary. Each shark is ready to make a deal with the right entrepreneur but they also have their own criteria when it comes to investing.

The first entrepreneur who pitches his idea is a young man named Michael who has created a device that can help protect valuables in a shared living space. He calls it Fridge Locker and it's a lockable container that can be attached to a refrigerator. Michael claims that his product is necessary for any dorm room, office, or communal living space to keep people's food and other valuables safe. He is seeking $50,000 for 20% equity in his company. The sharks question him on his price point and customer base and they also debate whether the product has a wide enough demographic to make it successful.

Next up is an entrepreneur named Jason who is trying to revolutionize the flashlight industry. He presents his product, the iFork, which he calls the "world's smallest, brightest flashlight." The flashlight is compact and can easily be attached to a keychain. Jason asks for $100,000 for 30% equity in his company. The sharks are skeptical about the product since there are already many small and cheap flashlights on the market, but Jason tries to convince them that the iFork is different because of its brightness and durability.

The third entrepreneur on the show is named Lynn, who has created a tool for carrying multiple grocery bags at once without any strain. The tool is called the Bag Jacket and it's a small device that can hold up to six grocery bags at once. Lynn is asking for $40,000 for 25% equity in her company. The sharks are intrigued by the product but they question the price point and try to decide whether there is a large enough market for the Bag Jacket.

The fourth entrepreneur to pitch on the show is Akeem, who has created a new type of bedding called the Comfy-sack. It's essentially a bean bag chair made out of memory foam and Akeem claims that it's perfect for people who suffer from back pain or who need a comfortable place to sleep. He is asking for $500,000 for 10% equity in his company. The sharks are split on this one, with some believing that the Comfy-sack has potential while others are skeptical about whether people will actually want to sleep on a bean bag chair.

Finally, the last entrepreneur on the show is Jennifer who has created a line of fashionable medical IDs called Identify-Me. The IDs are customizable and can be worn as bracelets, necklaces, or even anklets. Jennifer is asking for $200,000 for 20% equity in her company. The sharks are impressed by the product and agree that there is a large market for stylish medical IDs, but they question whether or not Jennifer has the marketing skills to make her product successful.

Throughout the episode, the sharks ask tough questions and negotiate with each entrepreneur to find a good deal. Some of the entrepreneurs walk away with an investment while others are unable to make a deal. Overall, season 1 episode 7 of Shark Tank provides an interesting look into the world of entrepreneurship and the ups and downs of seeking investment from a panel of experts.