Skylar and Chloe come into the Den and ask for $25 000 in exchange for 10% of their business, which makes healthy pasta sauces that both kids and parents like. They developed their business plan while travelling the world with their parents for a year as a part of their homeschooling plan.
Their sauces are kid-friendly and use natural and healthy ingredients. Their sauces are sold in 41 stores in Western Canada, including IGA, Whole Foods, and 7 independent stores.
They sell their jars of sauce for "about $8" ($8.80 is the listed price online), and cost $3.46 to produce.
They have sold $3300 to date, and projected sales for their first year of business is $280 000, which would leave $72 000 in net profit.
They would like the $25 000 as working capital for production and marketing.
Manjit offers $25 000 for 20% of the business.
Jim and Michael offer $25 000 for 10% of the business (as requested).
Michele and Joe are out, as there are other good offers on the table.
Skylar and Chloe take Jim and Michael's offer.
Their sauces are kid-friendly and use natural and healthy ingredients. Their sauces are sold in 41 stores in Western Canada, including IGA, Whole Foods, and 7 independent stores.
They sell their jars of sauce for "about $8" ($8.80 is the listed price online), and cost $3.46 to produce.
They have sold $3300 to date, and projected sales for their first year of business is $280 000, which would leave $72 000 in net profit.
They would like the $25 000 as working capital for production and marketing.
Manjit offers $25 000 for 20% of the business.
Jim and Michael offer $25 000 for 10% of the business (as requested).
Michele and Joe are out, as there are other good offers on the table.
Skylar and Chloe take Jim and Michael's offer.