Unlike rest of em, Kevin is perfect example of growing up very very Average not poor not rich to know exactly what and how world works, he is the only realist on the table he is not optimistic or pessimist. Thats why someone like Kevin can never invent something, but he can very well be the best damn manager of anything.
Kevin's the brains of this show I swear... the way he structures his deals... Top top business magnate... He opens the eyes of both entrepreneurs and sharks... And if he sees a useless product he ducks out quickfast...
Because the sharks aren’t really taking a big risk . It’s like free equity. They both invest 250k and get $1 royalties till both reach 500k. Then they stay at 4%
This is a great product and idea. As a backcountry skier, I can’t tell you how many times I’d go out with a fully charged battery and it die within an hour just due to the cold. This product could save a life in the backcountry, no doubt.
It’s funny cause, at first I thought the idea was stupid but then I realized I have 3 of these sitting in my garage 😂😂😂 (not the same brand) I actually need em all the time when I go jetskiing. And it gets up to 120 degrees out here in vegas so B that fact that this floats AND it’s keeps my phone cool, it’s perfect
Great pitch. No dramatic language, no over the top smiling, no childish lines like 'so sharks, who's ready to protect their phones with us?!'. Very professional body language and presentation. And really great product Edit: Thanks for the likes guys :)
Yup. They're confident in their product and know it's going to be a hit. This is probably the first thing on Shark Tank where I think I'm going to buy one of these products.
@@jonnym4670 I'm getting the pixel 6 pro which cost 900 if 30$ protects it, it's well worth it. plus If you live in AZ and work in construction your phone getting overheated is a big problem. It shuts down and doesn't allow you to use it. Not to mention it's protects your phone against damage from your tools leaving marks on it and wood dust. These guys should make it a goal to hit up the construction community. Big upside there.
These guys checked all the boxes, from self-funded, to great margins, to great success. Too good to be true. Myself, I think the margins are too high to be sustained and would, regardless, reduce the price to a sustainable $19.95. At that price they might reach the level where it's virtually an integral and expected part of an iPhone, etc. (Don't tell them, but I have kept my phone in bubble wrap and have never even had a scratch in 6 years. But their case is much more mobile.)
That’s what is frustrating about these pitches. They were rich to begin with, so self funding isn’t hard. When you don’t come from wealth, it could take decades to achieve what they have.
i do see your point even with higher volumes, with reduced margins profitability remains stagnant. But, I don’t see them needing to drop margin and price that low especially if no one else tries to encroach in this specific space.
I would’ve definitely countered Kevin to at least until 750k. Venture debt for 2% makes sense, venture debt for 8% and 2 sHaRkS for the same amount money is dumb
Actually, there’s an episode where Mark was asked to come up for demonstration. It was two guys who started Numilk company that makes fresh milk from ingredients like almonds, oats, etc. and was most impressed with taste/flavor. Kevin and Mark were only sharks who could comprehend company model and made offers. In the end, Mark offered two million dollars for 7% equity.
@@ArchangelExile that's right. Based on episodes I've seen, Mark seems to be dairy and gluten free and is on a mission to get those businesses off the ground.
What's amazing is that Barbara drove 940 miles next day to their work place to let them know "she is out" because they were trying to beat heat and cold at the same time and that was very confusing to her.
They should have countered at 6% equity split and up the royalty amount half a mill. Honestly I'd want that 2% stake for myself. Then again its certainly a risk. Both sharks can bring a ton of experience so it might be worth the extra 2% hit long term.
I would have gone with Lori and Robert too. These guys have marketed themselves and done everything themselves. She can help them take it to the next level because she has done something similar.
In my estimation, Kevin is actually the smartest of all of them. I know that his offers are often the steepest but I think that if I were going to be on shark tank to make a deal, Kevin’s voice would probably be the one that I take most seriously. They all sort of have their own little niches but when it comes to business in general, I think I’d trust Kevin’s opinion a bit more than the rest. A lot of people seem to instinctively cut him out of deals, disregard some of his input and recoil from his offers but I think that’s a huge mistake most of the time.
I disagree Kevin just want to appear on the show and making deals without the risk of losing his money. That's is why he offers royalties most of the time. This way will give him the room to step out of the business once he gets his money back and realizes that the business is not growing further. He wants to play it safely
I like that the guys took Robert and Lori's offer cause they saw they were passionate about their product. Unlike many others entrepreneurs. And I'm always happy when Robert gets the deal he is such a gentleman.
I love watching this show, its so depressing being around people in my city who dont see a way out of 9-5 n just plain give up, i love seeing people win the game, thank you shark tank
Those cases provide RDIF protection. I can just tell from the material. They should have added that to their pitch. Should add some slots for card's. And like a lanyard or wristlet. But I like it! 👍🏻I'M IN! ♥
You really think Kevin at 2.5% equity is gunna help grow the business? His deal was for capitol and capitol alone, I would have given the extra 5.5% for 2 sharks that will be there to help personally.
@@BungtwinginglyFunny they didn't need help with growing their business. They needed money to scale the business- two totally, different things. If all you need is capital for more labor, inventory, etc...then Kevin's deal is the one to take. As he mentioned, it wasn't economically wise for them to give up so much equity, for only 500K and especially when all they needed was capital....and he is 100% correct. You're overpaying for two sharks- one, whom knows nothing about the space. These guys were ALREADY MAKING MILLIONS WITHOUT A SHARK!!!!! If your business is consistently growing in to the millions from a BOOTSTRAP??? The only thing you should ever need an investor for, is capital. I would have taken Kevin's 2.5% deal, before he could have even finished offering it
@@davidleonard7439 That is a good point, and under normal circumstances I would agree, but these are not normal investors, more like paid promoters, that can accelerate growth drastically. Still you have a good point so I can see why they would go with Kev.
The money aspect is only the small picture. I secretly think they made a good choice. If you have someone only expecting 2.5% equity, you only offer a certain level of commitment. These guys need assistance and experience, they are growing phenomenally fast. They need real advice to keep up. Having 2 sharks is probably going to be their real benefit. giving up 8% to avoid these obstacles coming their way. Totally worth it. My 2 cents
@@BradsHacks A Tesla is just another car. An iPhone is just another smartphone. Doesn't mean that they are not great or innovative products. This phone pouch has a multi-purpose use, which makes it great in my opinion.
If they succeed with the product the extra 5.5% that Robert and Lori are getting will be worth much more than 500,000. Was a very fair offer from Mr. Wonderful
@@sampdickles5095 bro are you serious?? Kevin's deal was much better. The 2 asked for over 3x the equity that Kevin asked for, the only upside is that they take half the royalty that Kevin asked for. They are valued at 12mil as of this year. They lost more in equity than they would've with Kevin's higher royalty deal.
Lori is always cool and collected and knows how to convince and prove she brings more equity to all the deals. Her brain runs circles around Barbara. If I had to choose between her and Barbara, I'd choose Lori hands down. Her winning line is "I'll make u a millionaire.
Kevin is great with figures. He comes up with unique deals in royalty, and others are beginning to copy his style of unique offers. I love the sharks and their mutual relationships though.
How amazing must it feel to have all the sharks fighting over you like that? That's incredibly impressive. I don't think I've ever seen sharks so eager to partner.
Poor Daymond. He was essentially the demo guy who helped Lori and Robert make one of the best steals in Shark Tank history. Free equity more than what was originally on offer, reasonably high royalty rate and super impressive, hardworking entrepreneurs who weren't at all greedy or difficult to deal with. PS Robert somehow managed to backtrack on his "what's 500 thousand dollars..?" comment but what was even more surprising that the producers allowed it to make the final cut.
@@BornIn1500 they make them for three. They also have to pay employees, rent, insurance, patents, and more importantly the work and risk that is taken to make the product after investing time and money into it.
I agree with Kevin at the end, “That was the stupidest deal in shark tank.” 😂 They literally went from 4% with $1 royalty to $500k to 8% with $1 royalty to a million. Kevin cracks me up. He structures the best deals and then other sharks copy it and he never wins.
they were seeking 500k for 10% and they got 1 mil for 8% They got more money for less percentage and two sharks Do you know how rare that happened in Shark Tank!?
The only one who I would say never makes a deal is Barbara. She’s always saying she’s out even before coming to the show and meeting the entrepreneurs.
@@devonwyatt8498 I finished the video asking did they are didn't they, I think they will back out before the deal gets finalized. Personally I think mr wonderful deal was the best.
@@zappyeats2579 Mr. Wonderful's deal was great from an equity standpoint but consider this: They have full control of the company, so they don't need to be super tight on how much equity they give up. They came in asking for 10% so to get 8% is already a win. And finally at some point it's better to just get the investors and grow faster than save a couple equity percentage points and grow slower with one investor who might not be the right fit for them.
It's literally so weird the last 9 months looking on Amazon for an iPad case and the one that I've been was phoozy. Only reason I didn't get it is as the one I was looking at is a bag and not a case. It's so weird that the first time I checkout shark tank I happen to see the company I've been looking at for a long time!
It's for a niche market...skiiers, campers, hikers, work outdoors in the heat or water, etc. No one else wants their phone in that case. It's just not practical...I would never switch over to that.
There’s also a huge market with college kids who go to the beach or pools during summer or vacations who want to keep their phones safe and not lose them in water. I agree it feels limited in marketability but with the right marketing everyone will feel like they need it.
Another dollar store product. I've had my phone in all conditions and this has never been a problem. Not to mention, this sleeve ready exists-from about 15 years ago!
Leave it out on a sunny day or when it's super cold out, unless you have a premium phone chances are it will be affected by the elements. Also it's true you can probably get some knock off for cheap but a lot of people pay $$ for phone accessories
@@LedCODprductions It not for regular joes that sit on their porched with a case beer. It for adventure types that go mountaineering, skiers, sailers, boat fishers where you are exposed to the elements. Phones regularly die on cold days on the mountain new ones are better but won't withstand everything.
Not at all. It was quite a good deal. If it bothers you that much, apply to be on the show as a permanent, or guest shark. I'm sure with your 500m networth from your business, you would be able to offer better deals than your fellow sharks.
@@Locutus I just learn that stating an opinion could trigger your per hour day job, including weekends and cries poorly dreaming about 500m networth so badly. Go out get a life and stop being a keyboard warrior kiddo.
Hearing people on shark tank talk about numbers really makes you think. These guys are selling items at 10x their manufacturing cost, but even then they only make 25% profit on that. They go from 1000% to 25%. Business is hard
Wow, definitely would have gone with Kevin. This isn't a long term business. There is a very low likelihood they'd desire expanding into the general mobile accessories business. They've got a unique product and purportedly protected IP. This is a grow fast, prove a market exists, and then sell to a bigger fish in this space for $50mm when they get get to $12mm-$15mm/year in sales. At their velocity, that might only take about 3 years. Laurie and Robert together might marginally accelerate this over Kevin alone, but I genuinely doubt it will matter. Any exit over $9mm (the rough breakeven between the two offers) would shell out more money overall to Laurie/Robert (and given they're product/IP is already worth ~@$6mm...I doubt they'd take an exit if offered $9mm). Example: $50mm exit, Laurie/Robert get $4.5mm total. Kevin gets $2.25mm (as their royalties aren't perpetuities, and so can be recompensed with exit proceeds). Seriously, Mr. Wonderful is actually wonderful more often than not, and certainly more than he gets credit for with his deals.
