'Shark Tank' offers a life-changing deal to contestants who tempted the judges with their fish fry

Although innovative products on creative presentations do grab the attention of investors on “Shark Tank,” sometimes the simplest things carry the potential that sharks can smell. Food products often tempt investors on the show, and on an earlier episode, entrepreneurs Joe Dowell and Maranda Dowell asked for $150,000 for a 15% stake in the company, based on a valuation of $1 million.

Their company was called Joe’s Gourmet Fish Fry, and it sold a signature seasoned seafood breading mix. The sharks loved the taste, and the pitch was highly entertaining as well. The entrepreneurs predicted that they would hit sales in excess of $450,000 in the year when the episode was being filmed, after they had made $270,000 in the previous year. They claimed that the product was selling in more than 800 retail stores nationwide, including Wayfield, Kroger, Publix, and Walmart.

Joe said that he had opened up six restaurants in New Orleans, but all that got derailed when Hurricane Katrina hit and destroyed everything. "The only thing I had saved was two fryers in storage. I took a tent, grabbed those two fryers and went to any festival, any concert from Chicago to Miami and everywhere in between," he said. The entrepreneur had to do the tough hustle for 15 years, and was still doing so at the time.

It was Maranda who came up with the idea of packaging the breading mix and selling it to customers nationwide. However, most of the sharks did not want to invest in the company. Kevin O’Leary felt that the valuation was too high and would have to take 50% of the business for $150,000. That was never going to happen, so he didn’t even bother offering the entrepreneurs a deal.

Lori Greiner did not believe that the company needed an investor and refrained from offering a deal. Mark Cuban simply did not have enough experience in the food industry to be confident about making an offer. Robert Herjavec had a similar explanation as Mr. Wonderful when he refused to make an offer. He said that he’d have to take a big portion of the business, which he did not feel like doing.

The only one left was Daymond John, who liked the entrepreneurs and their product. He offered $150,000 for 25% of the company, and every other shark immediately asked them to take the deal. Maranda tried to negotiate for 18%, but she and her husband agreed to the offer on the table. O’Leary was impressed with their sales skills and made a comedic pass.

"You just sold fish fry for a $600,000 valuation," he said. "That is selling!" For the Dowells, the beauty of their product is in its simplicity. "Our breading is lighter than many of our competitors," Maranda said, according to The Atlanta Journal-Constitution. "It doesn't go on as heavy, doesn't absorb as much oil, adds a lot of flavor. It sounds really simple, but it's very unique in the taste."