Enhanced Pet Products

Bill Harris of Oshawa, Ontario and Vinesh Lala of Montreal, Quebec pitched Enhanced Pet Products, asking for $100,000 for 3% of their company. Bill Harris invented the Enhanced Pet Bowl in 2011, a bowl with a sloped ridge designed to help brachycephalic dogs like French bulldogs eat more easily, reducing mess, gas, and the risk of bloat. The bowls retail online for between $20 and $30 depending on size and finish, cost about $6 to produce, and the founders projected $900,000 in revenue this year and $2.7 million next year, based on a valuation of $3.3 million. They reported spending just under $300,000 on marketing last year and getting back a little over $500,000.

Jim Treliving and Lane Merrifield offered $100,000 for 7%, but withdrew after further discussion. Vincenzo Guzzo went out citing lack of time to help build the business. Arlene Dickinson went out over concerns about the business plan and lack of clarity on growth strategy. Michele Romanow went out due to weak advertising return ratios and looming competition risk. Manjit Minhas went out, noting that the founders quickly cut their valuation in half during questioning, which raised concerns about how thought out the numbers were. No deal was made.

Enhanced Pet Products is still operating and sells through its website.