S15.E19: Richualist Hair Styling Tool; Hibear Insulated Bottle; Veba Baby Bottle; Splash Swim Goggles

[CrazyInAlabama]

Sharks-Guest Shark Emma Grede, Kevin, Robert, Lori, Mark.

Richualist Hair Styling Tool-an all-in-one styling device for textured hair.  She wants $150,000 for 10%. The Mint is a 3-in-1 styling system.   Load pod with styling products, it streamlines the curling and matting problem, and saves time. It works on 4C hair, but works on any hair texture.   She sells the tool, and the pods with a possible sponsorship with major beauty lines for specific products (L’Oreal, and Proctor & Gamble).   The unit costs $400 each, but the price to manufacture is down to $60, reduce the styling tool price to $200, and the pods will be a subscription service.    It took Dawn five years to build and manufacture this product.   She owns 72% of the company after the convertible notes are paid off.

Kevin drops out, in favor of a Shark with hair.  Robert drops out too.   Lori has a conflict of interest, and drops out.   Mark has great advice to sell the styler, to let the pods be a sponsored item later.  Emma is interested, but says the styling tool is the star, not the pods.    Emma makes an offer, with Mark, for $150,000 for 20%.  

Emma and Mark make the deal for $150,000 for 15%, and 5% advisory shares. I’m so happy for her, and think she should stay at $400, it’s equivalent to Dyson hair dryers and stylers.  

Hibear Insulated Bottle-a water bottle $150,000 for 5%, multiple use water bottle.  The bottle has multiple uses because it has sections, tea or cocktail strainer, thermal core keeps items cold without diluting them.  It all nests in the bottle.      The perfect corporate gift, with different colors and boxes that can be customized.    $15.50 to make, $95 to sell.  They do 40% corporate,  direct to consumer, projecting $1 million this year with adding Amazon.  Company isn’t profitable yet.    Kevin says don’t do retail, just direct to consumer and corporate should be emphasized.   Mark agrees with Kevin.   Mark the seller wants to expand the line too.   Mark is out.  Emma is out, it’s too early for her.   Kevin is out.  Robert is out.    Lori is out, too much competition in the space, and it’s too early for her.

No deal. 

Veba Baby Bottle-a baby bottle monitor that signals spoiled milk, and expired breast milk using an app.  Monitor attached to bottle, and tracks the temperature, sent to the app.  They want $150,000 for 15% equity.   You need one device per bottle, and they sell one bank at a time.   Consumers purchase an average of two devices, at $89 per device.   They only launched five weeks ago.    They want the money for marketing.  They have 2,000 units in inventory.  There’s also a ‘find my bottle’ feature.  Emma is out, and doesn’t see the need.  Robert is out.  Mark gives the sellers great advice, says pitch to buyers for gift reasons, and he’s out.   Kevin is out. Lori is out, says it’s too early.

No deal. 

Splash Swim Goggles-swim goggles designed to be gentle on hair. Ashley and Karen want $200,000 for 5% of the business.   Swim goggles that are strong elsatic, easier than elastic straps, it has a stretchy fabric goggle instead of the straps.   They are patent pending, with the swimsuit fabric strap. 

After family tragedies Ashley started the business to support her family.   Sales are $6.1 million lifetime.   Business started in 2017.  Anticipate $1.8 million for 2024.   They have a website, retail, swim schools, and on Amazon.   They have home sewers that produce the goggle straps.    Margins are great.   Less than $150,000 lifetime for advertising.  They want mentors, and development money. 

They want to make larger goggle molds. No outside investors.     Kevin says they don't need a Shark or other investor.   Robert is out, but will be a customer.   Lori offers $200,000 for 10%.      

Deal with Lori for $200,000 for 10%

 

Update: The Duo, two handle umbrella with Robert.  They have a partnership with Shed Rain.  Selling at Target, REI, Macy’s, and on Amazon.  Robert, Kevin and Candace Nelson appeared at the entrepreneur’s high school.

Iconic Moment: Wicked Good Cupcakes, deal with Kevin.   This was the first royalty deal in Shark Tank history.  Company later sold for a huge deal to another company. 

Edited April 6 by CrazyInAlabama

[Diana Berry]

I wish the hair tool lady had said how much time she saves using the tool ( she said normally it takes 3 hours).

[hifihifi]

Today I saw the best product ever shown during Shark Tank. It wasn't shown during the actual episode but during commercials for the Hose demonstated by Richard Kern! Seriously.

[CrazyInAlabama]

8 hours ago, hifihifi said:

Today I saw the best product ever shown during Shark Tank. It wasn't shown during the actual episode but during commercials for the Hose demonstated by Richard Kern! Seriously.

I saw the commercial and bought one too.   They do have it on Amazon.   

[jabRI]

I didn't get the baby bottle.  I think they didn't do any marketing research to determine if there was an actual need to fill.

[SoMuchTV]

As a former swim team kid mom, I would have been interested in buying that stretchy thing as a replacement for broken goggle straps. Assuming it really was stretchy enough to hold the goggles in place. 
 

and as a parent of a mom who had a bluetooth cradle and WiFi breast pumps, I really can’t see her paying 89/bottle to tell her the milk was too old. Sharpies, duh!

[KaveDweller]

3 hours ago, jabRI said:

I didn't get the baby bottle.  I think they didn't do any marketing research to determine if there was an actual need to fill.

I felt bad for that couple. It seemed like they had this problem themselves and assumed others did, then felt really hurt when all the Sharks discussed how they didn't have this problem with their babies. Emma was kind of harsh when she talked to them too. I have no kids so I have no idea if it is an issue for normal people or not.

I liked the goggles. When the two women came out and started their pitch, I thought they were going to have a dumb product. But then they showed it and I thought it was really smart. I am surprised no one has done goggles like that before. Glad they got a deal. 

[CrazyInAlabama]

I think the goggles company will have a major surge in demand when they do the adult size goggles.   I know so many adults who use goggles, for lap swimming, water aerobics, or playing in the pool.   

Edited April 7 by CrazyInAlabama

[katycat74]

I was thinking the goggles would be a great branding opportunity.  Just think going to Disney resorts and having all sorts of Disney character choices to go to the pool with, ect..

[CrazyInAlabama]

On 4/7/2024 at 6:35 PM, katycat74 said:

I was thinking the goggles would be a great branding opportunity.  Just think going to Disney resorts and having all sorts of Disney character choices to go to the pool with, ect..

Since they got the deal with Lori, I bet that Lori was already thinking about deals with big name companies like Disney, Great Wolf Lodge, and all of the cruise lines.   I wonder if the big swimsuit companies would be interested, selling you googles that have the same or coordinated fabric with your swimsuit?