'Shark Tank' recap: Entrepreneur hammers out deal for safety device with a playful twist

On Friday’s “Shark Tank,” a Virginia Beach, Virginia, entrepreneur nailed down a deal, and shark Mark Cuban found his inner child.

Drew Zirkle is one of the founders of Safety Nailer, a device that holds a nail in place with magnets, making accidentally whacking your thumb a worry of the past. Zirkle was asking for $100,000 for 14% of the company.

“Whether you’re picking up a hammer or building a deck, there’s nothing more rewarding than doing it yourself, except sometimes starting a nail can be challenging,” Zirkle said before inviting shark Lori Greiner and guest shark Rohan Oza up for a demonstration.

The invention was created by Zirkle’s friend Dan, who showed him a prototype made from a retainer mold. Dan, medically retired from the Navy, allowed Zirkle to start a business with the invention, with Dan’s wife partnering to pursue the vision.

Together they bought an injection molding machine and made the first 2,000 by hand, but that proved challenging. They were almost swindled by a third party but found a factory in China to produce the product at scale. It costs $1.75 to make, and they sell the devices for $9.99 on their website, and on Amazon for $8.99.

Last week on'Shark Tank': One shark burns up the tank as another strikes deal for outdoor pizza oven

They made $40,000 in 2018, and Zirkle projected they would make $100,000 in 2019 but would show a profit of only $2,000 to $3,000. A deal-breaker for shark Kevin O’Leary was that Zirkle didn’t work for the company full time.

“You’re not full time on this deal. It’s not bad, but it also leaves it listless,” O’Leary said. “An investor like me wants to put in $100,000 and have someone to call in the morning, ‘How’s it going with the Safety Nailer?’ ”

For shark Barbara Corcoran, the device lacked a "wow" factor and had low sales that didn’t leave her confident in a partnership. Likewise, Cuban felt Zirkle was too early for the tank.

“It’s not even a question of the product. The product’s great,” Cuban said. “The challenge is, it’s not a company yet. Whether it’s you or somebody else, there’s got to be someone who eats, sleeps, breathes the business 24 by 7 by 365.”

Sensing he was losing the room, Zirkle decided to show the sharks a children’s toy that his friend invented. It was a clacker that didn’t clack because the magnets continuously repelled. Many of the sharks shook their heads with disbelief.

'Shark Tank' exclusive: The new list of the 20 best-selling products from the show

“What the heck does that have to do with Safety Nailer?” Oza said. “This is not just 'pitch anything you feel like,' Drew. What else do you have in your bag of tricks?”

Not sensing the sarcasm, Zirkle replied, “There’s two other products I can’t show you guys.”

“No, don't show anymore. I was joking,” an exasperated Oza said. The shark was close to forming a licensing offer with Greiner for Safety Nailer, but he sensed the clacker might have thrown the partnership into jeopardy.

One shark who loved the clacker was Cuban, who twirled it around like a kid and came close to pocketing the toy. “If you guys go in, I’ll put in money just to get the rights to the clacker.”

Ultimately, the three sharks offered Zirkle the $100,000 for 50% of the company plus the rights to the clacker. Zirkle managed to talk them down to 33% and allowed Cuban to keep the toy.

“How you pulled that out, buddy, was next level,” Oza said, shaking Zirke’s hand. Cuban continued to play with the clacker as O’Leary asked whether he was seriously going to put up a third of $100,000 for a toy.

This article originally appeared on USA TODAY: 'Shark Tank' recap: Entrepreneur hammers out a deal for safety device