S15.E06: KrappStrapp; Mini Materials; TIK PIK; Supermix

[JTMacc99]

Quote

Entrepreneurs enter the Tank to present a handy accessory for using the bathroom outdoors, a collection of tiny building materials for hobbyists, a stickable guitar pick and a line of customizable children's clothing.

 

[CrazyInAlabama]

3 November

Sharks-Mark, Kevin, Lori, Daymond, Robert

Knapp Strapp-tree strap to help outdoor enthusiast answer nature’s call.  From Bob and Keith of Air Boss Outdoors, Jacksonville, TX.  They want $65,000 for 10%.    For 'Doing the deuce outdoors'.    It will hold 400 lbs, pockets on each side for whatever you want to put on it.  THis is one of the funniest pitches ever on the tank.    Mark will demonstrate.   The company started with motion hunting decoys.   They spend 4,000 units with zero advertising all on ecommerce.   First thousands sold from one social medial posting. Robert drops out. Kevin drops out, no outside pooping for him.  Mark is out for now.   Daymond is interested, and wants Lori to go in on it with him.  Lori and Daymond offer $65,000 for 35%.  Counteroffer is 25%, Lori says 33 1/3%.

Lori and Daymond make the deal at 33 1/3% for $65,000. 

 

Mini Materials-model building supplies.  Jared Waters from Portland, OR wants $100,000 for 20% equity.  Miniature building supplies for doll houses, dioramas, etc.   Real building materials, not plastic stuff.    Tiny cinder blocks are real concrete, mortar is really mortar, etc.   Jared bought the business a year ago, for $200,000.  Margins go from 50% to 93%, sales are $200,000 in one year.  This is for enthusiasts or hobbyists, from ages 12 to adult.   He needs marketing help.  Daymond is out, Kevin is out, Lori is out, Robert is out.  Mark is out. 

No deal. 

Tik Pik- the pick that sticks- guitar picks, Nicholas and Keith want $75,000 for 10%.  The picks stick where you put them.  No more lost picks.   $29.95 for a set of 6, margins are fantastic.   Kevin really can play guitar.   The back of the pick is silicone, so it grips to the guitar, without glue or residue.   Mark knows about Nick's father the Barefoot Man from the Cayman Islands.   There are five partners in the business.  They sell on their own website and Amazon.  Big box stores aren't interested.   Mark is interested $75k for 16%, so he would be the sixth partner.  

Mark makes the deal for $75k for 16%. 

Supermix Studio- Custom Kids’ Clothes- Jennifer from Brooklyn, NY, $ 250k for 10%.   interactive kids clothing brand so kids can design their own clothes.   Go to the webiste, choos an item and style, and customize with over 500 choices of patches to place on the garments, they produce the custom project.   $69 for a jean jacket, they produce for $13.75, so 75% margins.  They produce all of their own patches.   She's worked for Gloria Vanderbilt junior line, Tommy Hilfiger, and another designer. They have kiosks in Claires, resorts, cruise ships, boutiques, department stores.   The kiosks would be in addition to their current online site.   Kevin hates the kiosk idea.  Mark is out. Daymond is out,   Kevin is out.  Jennifer is rethinking the kiosk idea.  Claires gets 30% of the sales. 

Robert and Lori are discussing a deal. They offer $250k, 25% and 5% royalty until they make their investment back.  $250k, 3 1/2% royalty until the investment is paid back, and 20% equity.

Lori and Robert make the deal.  

Update: Wondry Wines, a wine based cocktail wines and creams, (I don't drink so I have no idea if that's right), with Mark Cuban.   Sales are over $1.1 million.   

A look back at Citikitty, a toilet training kit for cats. 

Edited November 4, 2023 by CrazyInAlabama

[Quickbeam]

I loved the mini materials guy. They kept talking about kids as a target but it’s adults buying this stuff. Dollhouse people, miniaturists, model railroad buffs. They are the ones who will pop for the realism. 

[DEL901]

6 hours ago, Quickbeam said:

I loved the mini materials guy. They kept talking about kids as a target but it’s adults buying this stuff. Dollhouse people, miniaturists, model railroad buffs. They are the ones who will pop for the realism. 

I hope his appearance give him a nice sales bump. He had a great product for the demographic.  

[bilgistic]

Supermix Studio (that name...) was a mess. There's zero difference between that and the beach shops where you pick out a shirt and decal for the front and whatever letters/name you want on the back. They use the iron/press thing in the store and voila, you have a custom shirt.

My boyfriend is an amateur luthier (guitar repairer [tinkerer]) and will buy literally anything guitar-related. He has 14(?) guitars. Even he said he wouldn't pay $30 for six picks.

[DrSpaceman73]

11 hours ago, Quickbeam said:

I loved the mini materials guy. They kept talking about kids as a target but it’s adults buying this stuff. Dollhouse people, miniaturists, model railroad buffs. They are the ones who will pop for the realism. 

I think he doesn't really know his target audience which is a problem as Damon pointed out. But I like the idea were pretty cool. Given the cost probably is more adults but also agree that's a pretty niche market and not very investable 

I was shocked Mr wonderful could play the guitar. The guitar picks seemed like a good idea. More expensive but still pretty cheap and probably worth it. Last longer and don't lose them better quality

 

I liked the clothes idea but agree about kiosks. Just do online awhile first then the kiosks.  She compared it to build a bear but it's not if you're mailing it go them. Anyone remember the t shirt shop where you could go in pick a design and they'd then make a t shirt for you with that design?  Reminded me of this. But again they mail it. 

1 hour ago, bilgistic said:

Supermix Studio (that name...) was a mess. There's zero difference between that and the beach shops where you pick out a shirt and decal for the front and whatever letters/name you want on the back. They use the iron/press thing in the store and voila, you have a custom shirt.

My boyfriend is an amateur luthier (guitar repairer [tinkerer]) and will buy literally anything guitar-related. He has 14(?) guitars. Even he said he wouldn't pay $30 for six picks.

Yes that's the shops I was thinking of but they had them in the mall too. Maybe they Still have them in malls ....wherever malls still exist. 

Edited November 4, 2023 by DrSpaceman73

[bilgistic]

I just remembered that on one of those annual beach trips, I "designed" a turquoise muscle tee with a hot pink "Choose Life" decal on the front when Wham! made the phrase famous. I must've been about 11.😂

[30 Helens]

I guess I never thought about how hunters go to the bathroom when they’re out in the woods all day, but now I’m envisioning people all over the forest, hugging trees and squatting. Thanks, Krap Strap. Honestly, I can see the need for peeing, but can’t you just hold the rest until you get home? Please? I’ll never be able to go hiking again without being very, very careful about where I step.

[lh25]

It seems like anyone could replicate the Krap Strap for themselves, unless I missed something.  The sharks are usually all over that, but it didn't come up.

Personally, I think a little of the older owner would go a long way.

[eel2178]

7 hours ago, 30 Helens said:

I guess I never thought about how hunters go to the bathroom when they’re out in the woods all day, but now I’m envisioning people all over the forest, hugging trees and squatting. Thanks, Krap Strap. Honestly, I can see the need for peeing, but can’t you just hold the rest until you get home? Please? I’ll never be able to go hiking again without being very, very careful about where I step.

Through the whole presentation, I was thinking, "Don't you have to dig a hole first?" Isn't that the "proper" way to do things in nature?

[Vermicious Knid]

Not just hobbyists for the miniatures. City planners, engineers and architects also build scale models. 

Supermix is not letting kids design their own clothes. They're picking basic already prepared clothing pieces with added patches. The kind of thing kids order once on a whim, not sustainable. 

Krappstrapp is meant to be used in the woods, but a good chunk of the world still uses squat toilets. I remember reading an article, that of course I can't find now, that having a pole or grab bar to aid the elderly, disabled, anyone who has difficulty balancing really helps. If they only knew, they could market the strap overseas.  

[eel2178]

15 hours ago, Vermicious Knid said:

Supermix is not letting kids design their own clothes. They're picking basic already prepared clothing pieces with added patches. The kind of thing kids order once on a whim, not sustainable. 

I can also see those "modestly priced" jackets and sweatshirts becoming very expensive once kids have finished doing all their customizing.

[EXEAL]

It was fun seeing the flashback to Season 2 with CitiKitty and how young the Sharks looked.😊

[potatoradio]

Robert looked like he had some plastics done. His face looked...kind of taut? 

I would really like to think that if my stomach was in such a condition that I might need a krap strap to haul along with me that I would refrain from going on a hike. I can see it being useful, maybe, for hardcore campers who go to remote areas for days or weeks and will need to attend to their business, but then, I don't think those types of hikers would have any problem squatting. 

Mini Materials really missed out by not understanding their demographic, so good on Daymond for spotting that business blind spot, though I wondered why it was deal breaking. Couldn't you make a deal with the understanding that there was work to be done on the marketing to a freshly defined demographic? 

SuperMix already reads dated to me. Can't you do the same thing on Zazzle? 

There's a reason I don't watch this show for consistent business decisions....

[Kenz]

I'm no fashionista, but those Supermix clothes looked dated and cheap. Couldn't you buy a jacket or sweatshirt on your own and iron on some patches you found at a craft or fabric store ? I didn't see anything unique about them.

[EtheltoTillie]

Potty humor always makes me laugh like a little kid, so I kept laughing every time I heard Krapp Strap. 

[Vermicious Knid]

Was this the 'fall finale'? It's not on the schedule the next few weeks. 

[tired and hungry]

12 hours ago, Vermicious Knid said:

Was this the 'fall finale'? It's not on the schedule the next few weeks. 

I'd like to know too. I guess there may be a couple more episodes to air before the mid season break. I'm assuming there will be a holiday theme episode as well.