Shark Tank US | Top 3 Products For Dog Owners

next in the tank is a functional accessory for your furry pals hi sharks i'm shannon from austin texas and this is my dog rishi and i'm griffin from oxnard california and we're seeking four hundred thousand dollars for six percent equity in our company wow more and more our dogs are going everywhere with us in the car on a hike to brunch even on our stand-up paddleboards while our relationship with dogs has completely modernized most dog products are still clunky inconvenient or something even your dog would be embarrassed by the most important thing that your dog needs besides pets and cuddles is water but who here has tried then make your hand into a bowl method it's messy wastes water and doesn't work well or you can pour the contents of your water bottle into a portable bowl and when your dog doesn't drink it all you're left having to throw it out and public water bowls can affect your pup with creepy bacteria and let's be honest we know you kiss that mouth daily so we invented the springer travel bottle the best way to give your dog water anywhere at any time simply squeeze the bottle the bowl will fill up with water when your dog is done drinking release the bottle and the water goes back into the bottle no mess no fuss and no wasting water this is just the first of many innovative products in the pipeline that solve problems that pet owners face every day so sharks who's ready to join our pack and make springer top dog of the pet industry cool it's really a good idea it's all sideways does it leak so there is a leak tight shut off we have to tighten it so you you twist it because it doesn't leak yes and then it's completely tight wow all right so listen tell us about you how did you come up with this our our dad is an inventor he invented the first travel mug thirty-five sister yes my brother so griffin and i actually started our careers as models for the company oh my god you're so cute that's great so a few years ago i adopted rishi i became part of the demographic of crazy dog parents that would do anything for their dog but whose problems weren't being addressed and that's when springer was born so what am i investing in springer so we created a new pet brand springer that sells this bottle so this is your first product yes right do you have any patents yes yes we have eight patents covering these products eight eight wow utility design in the us and uh internationally so when did you start going to market and how were you selling it our first year of sales was in 2016 and we did about 711 000 in revenue wow for the next couple years we sold between about 650 and 750 000 per year and in 2020 we got 1.7 million dollars in sales wow and how much money did you make because you because there's got to be great margins yeah yeah they are great margins yeah we made a hundred thousand dollars and that's not great that's it a hundred thousand yeah so last year we we decided it was going to be a growth year for us so we reinvested a lot of our profit into more ip branding building out new innovations that are coming later this year so tell us your margins what's the cost to make one of these it's about three dollars on average to make one of these products our margins on on retail 88 percent our mini the mini sells for 22 the medium size sells for 25 and the growler sells for 28. it was a great margin but where'd the money go the 6.4 million valuation is a bit of a stretch for a single product company but actually you're just breaking even you're making 100 000 1.7 i'm calling that breaking even i'm looking for 500 000 worth of costs that i don't understand where they are something is eating up 500 000 you've got 88 gross margins yeah and something else doesn't add up we had a lot of investment in ip and brand protection because what was the total expense of that for branding it was about 150 000. but you see how all this doesn't add up because those expenses are accrued over five years you know a lot of a lot of it was in went invested in the last year and those are one-time expenses and then we have a team so it's us our parents we have uh two other employees in-house what do you guys make we make about 70 000. look i think the products are really cool right they're ingenious in a lot of respects but what concerns me is that you've been selling it for five years i'm surprised it hasn't done a lot more for those reasons i'm out who is the person that came up with the brilliant idea of only offering us six percent so to justify that we're on track this year to sell two million dollars and uh next year we're projecting the three at 3.2 million dollars we can give you the money is that all you want we want your expertise we got to work too for the money we need the blitz for six percent you need really you want me to pay and get a small return and then work for you it doesn't make any sense primarily it's not worth my time i'm out thank you i think it's a very good product but i can't get past one thing and it might be my own bias and it might be my age but the thing i was taught is when you start a business the first thing that gets paid is the business and the last thing that gets paid is the owner yes and that's why you're doing it the opposite you're paying yourself 70 000 a year i mean you're starving the business for cash to make a living i don't want to be part of that i'm not okay so let me take a stab at this all right what i like about this deal is sales i love cash flows this is a family business the only way i would do this deal is i want to stay out of that soup all right okay with a six percent ownership i have no say anyways this is a royalty deal it keeps everything aligned on my interest to sell more is very high so i'll give you the four hundred thousand dollars i want three percent equity of schmuck insurance in case the product gets sold while i'm in my royalty agreement with you and i want three dollars a unit until i get my 400 000 back and then i want half of that a dollar fifty in perpetuity i have lots of people to blow this up digitally and i would do that because my interests are aligned that's my offer okay thank you yeah i really appreciate the offer thank you i love this i think it is so smart and so innovative and just like why would you use anything else yeah i'm gonna make you an offer i'm gonna give you the 400k for 10 but i want preferred stock which means i would get distributions first whenever there's profits that are paid out awesome okay thank you for your offer what would you do for eight percent no i gotta stick it ten you guys come on it's risky and i gotta i gotta be excited to get out of bed [Music] lori we'd be happy to do that deal with you [Applause] congratulations well done [Music] now that we have lori on our team we're ready to blitz the market she was the ideal shark for us we feel like she's already part of our springer family next into the tank is a product to help your pets be camera ready [Music] hi sharks my name is jason hernandez i'm from san diego california i'm here seeking 100 000 in exchange for 20 equity in my company pooch selfie sharks i'm a dog lover i'm absolutely crazy about my fur kit here logan and like any dog lover i take a million pictures of this little guy what i found is for every great picture i got with logan it would take me about 10 bad shots before i got the right one you see the problem was it was proving impossible to get logan to sit long enough and looking on my smartphone for a great picture now i can't even tell you how many times i've had my face licked while trying to get a great self ew so i searched that search for the answer to this problem and i found i wasn't the only one struggling to get great pictures with their dogs seemed like nobody had figured this thing out and i knew there just had to be a better way that's why i invented pooch selfie pooch selfie is a ridiculously simple device which uses your dog's natural draw and focus to a tennis ball and uses this power to hold your dog's attention long enough for you to capture the best photos of your dog to use pooch selfie my wife erica will actually help us demonstrate just take our universal smartphone clip and attach it to the top of your device next grab one of our push selfie squeaky tennis balls and place it in the classy mechanism and voila you've instantly become a master dog photographer that's great pooch selfie has been an instant hit with dog lovers take a look at some of our happy customers not only can you use pooch selfies to get fantastic selfies with your dog but you can also use it to get some pretty awesome portraits of them as well now i need your help to get puked up in the hands of dog lovers everywhere so sharks who's ready to help me change the way we take pictures and selfies with our fur kids and show the world that you can teach an old dog new tricks do we get samples yes we have samples here for you and then my wife erica's actually going to take logan out to play some ball see you logan hi logan thank you thank you okay thank you damon thank you mark thank you appreciate it thank you very much okay jason how many pooch selfies have you sold already uh i've sold about fifteen thousand eight hundred dollars for you no you've not you know what are you doing i'm sorry three hundred and eighty thousands worth of sales dollars sales that's respectable each one sells for 9.99 today and what's it cost you a dollar 30. that landed with packaging and everything that's you know sitting in a warehouse a dollar 30. good for you 380 000 in sales how many units was that do you know how many units you've sold i have a little bit of deer and headlights so i know that's all right take a breath but do you know i mean if you weren't nervous right now do you have a good handle on the numbers so take a breath and tell us what you know give us the whole picture [Music] twenty-five thousand units approximately are you doing this alone are you right so you're working a business everything that you see here is completely done by me somebody can knock this off in two seconds right it is but i am us patent-approved so i have a patent here in the u.s utility utility patent how have you sold them online uh 74 of our sales have done completely at retail by myself online online retail so have you approached any retailers that sell dog stuff we do so uh we we actually got them into my dream retailer bed bath and beyond this is something that just happened they rolled them out into tons of different stores but what happened is they put it on a shelf amongst all the other dog toys and this really needs a lot of customer education for people to understand exactly what it is make the impulse decision of oh my god that's really cool i need to get that so it got de-listed in bed bath no they did a markdown tell us about your background where did you you've always been an entrepreneur i went to school i'm a mechanical engineer i designed it it got fine-tuned for a manufacturability and then i actually took it to china myself found the molder and you know worked with them to get the actual part how much have you invested eighteen thousand dollars your own money i'm my own money correct any loans uh no loans any debt no debt do you work on this 100 yourself at all times no unfortunately push selfie is the dream uh job i wish i could have yeah um it's not enough to sell support myself little and my family so what are you doing i'm an electronic salesman i do that during the day um we have a one-year-old that is uh take it up by afternoon congratulations and then this is what cuts into the sleep so what are you going to do with the 100k actually i would like to redesign pooch selfie the product was made for two of the most popular cell phones out there today um but there has been some pushback on its compatibility with the other cell phones that are out there so the next would be redo the packaging because i feel that the packaging that i put together has limited the shelf appeal and the rest towards our follow-up item which is the same concept but it actually holds a treat instead of a tennis ball so why would you do that right now do you have any inventory i have inventory of the original put stuff how much uh 18 000 units 18 000 units that's 180 000 that's your money right there yeah what do you don't have any cash or making any money off of this why would you not just take your time you already have a day job that helps feed your family eat through the inventory you have and then retain 100 of your company instead of having an investor here that you have to report to or consider why would you do that this has been a lot of my life and it's uh been really it's been really hard to watch people try to capitalize on the idea um and steal it i'm not only trying to grow this business but i'm also um i'm also trying to protect it and that's the stuff that nobody sees nobody sees when you created something that nobody has ever seen before you watch so many people just try to take it for me i made this because i love my dog my dog's not gonna be around forever that was my first best friend and i just want to share that with people so that they can do the same thing this entire product has been my life i put this together on my own no help from anybody and i've had people tell me it's a fantastic idea i've been telling people tell me it was a horrible idea but i made this i want pooch selfie to be the number one brand name for what people think about when they want to take pictures with their dogs listen i um my dog spartan just died oh and uh and i don't have any pictures of him looking like that to never get him to look at so i i understand you know the passion to have something and also you know the love of our little furry friends 100 000 33 in the third percent right now i'll do the deal [Music] and i'll take that risk with you damn would you mind if i hear any other offers i wouldn't do that jason i'm out i'm out i'm out i'm out [Music] good damn i'd love to partner with you all right man there you go i was about to take it back i was because i wanted you to be decisive all right all right congratulations thank you very much congratulations jason great job i watched this show for nine seasons now i can't believe i have a deal the tank is not forgiving um but i put it all out there i left all the passion out there and i'm very very happy with the result when i was listening to that passionate presentation i thought to myself what planet am i on no next up is an exciting way to keep your best friend active [Music] hi sharks i'm megan this is piper and we're from malabar florida i'm seeking 240 000 for six percent equity in my company swiftpaws if you're anything like me your pets are family total dog mom right here but we feel guilty when we don't have enough time to give them all the attention and exercise that they need every day introducing swift paws home the pet enrichment toy that lets you create the best game of chase ever in your backyard you just set the course wherever you want run the string around and when you pull this trigger it goes zipping around oh my god how does it work does it just change direction on its own no it doesn't you control it damn would you like to give it a try sure so you press the on off button right on the side of it it should vibrate when you do that one at a time guys we don't want to drive her nuts and then you pull that trigger and she is just going to go mad see you go don't take it away from her go get it my friend it's very cool all right i'm going to try it oh that is so cool [Applause] all right all right i'm gonna stop it now all right i can say mr wonderful ran circles around my he said he hijacked it good job piper good job oh my gosh i deserve some water yeah i am gonna bring her out and i'll be right back bye piper wow what a workout that dog just got kevin why don't you go there and try it well you got to put a 10 bill there then i'll do it it's amazing what you'll do for ten dollars so megan how did you come up with this i learned about this as a sport it's a competitive sport just like dog agility 50 000 entrants in the sports of chasing last year so these sports are growing and people love competing with their dogs for points titles invitationals what are they chasing basically a plastic bag this is our pro grade equipment and this is the straight line competitive sport of fast cat this is our professional grade equipment which is what we can do professional grade equipment yes so we started as the american manufacturer of professional-grade lure coursing equipment and that is what this sport is called and this is some of our home equipment on a larger field that's great wow so how did you get into this tell us that so i was a recent college grad i got a degree in economics and i took the summer off just to do dog sports i was doing dog agility i discovered the sport of lure coursing what's it called it's called lure coursing with piper actually this got started with a little dog named pretzel and i lost pretzel in may what happened sorry he was 14 and a half i lost him to kidney disease oh so oh it looks like a pretzel it's still hard for me because that dog he was my sidekick he had a great long life he didn't really like to play with toys but he loved chasing stuff is piper your dog too so piper's my dog i got piper a couple of years ago megan take us through the progression absolutely so we got our start making pro grade equipment the equipment out there that people would build when did you start doing this in 2012. i built my first one with the help of my dad my dog loved it i invited my agility friends they loved it i actually how big is the agility sport hundreds of thousands of entries in thousands of competitions every year i built professional grade equipment we filed for our patent and then in about 2017 we were going around the country selling this to zoos dog trainers doggy daycares and then everybody who would come to these events average dog owners would say i need this in my backyard so i couldn't let it go i said i have to make one because the pro grade equipment costs over 2 500 and that's just not affordable so then we launched this with a kickstarter in 2018 we shipped our first units in 2019. so what are sales now so i want to get to sales i don't want to leave you guys hanging so i ended up doing a seed round in 2020. and i did that on a convertible note 2.5 million dollar cap i raised 670 000. wow good for you so what percentage do you own now if those notes all converted today i would be at 63 percent what are the prices of the units so swiftpaw's home retails for 449 for the kit our cost everything into the box is 135. okay meg and now's the money are we ever going to hear this you can tell us sales sales yeah we've done 750 000. we're on target to do 1.5 million and we've done 1.5 million lifetime what do you think you'll make on the 1.5 million 140 why so little how much did you lose last year megan so last year we did 425 000 in sales and we lost 380 000. [Music] let me tell you why we actually didn't get back in stock until june and that was because of materials delays early in the year and then we did 425 000 from june to december you lost 385 that means you kept the snap on i kept everybody on in fact i actually increased so january 2020 i hired my first employee that's business karma right there it's admirable you raised 670 you have some sales coming in yes where did the cash go so the rest of the cash was materials so we buy all of our materials we bring them into my hometown we do all of our assembly in my hometown i really think that there are ways to reduce my manufacturing costs for sure 1000 is unfortunately minimum order quantity on some of my parts i don't understand why you're assembling them here here when you should be doing it all offshore right i would be open to exploring that here's what i'm here for i want to improve the lives as many dogs as i can look i'm very impressed with what you've built here i think your costs are way out of wax i would be taking this to a factory and completely redesigning the process of manufacturing it i think it's too expensive 449 is a lot for a family even that loves dogs i think you're terrific but this is not for me thank you so i was going to beat you up on the price but i got to tell you you know with your history raising capital keeping your uh employees um you're really the real deal but i don't think that i can help you as much as i would love to for this price so i'm out hey megan i just have one question yes i'm trying to figure out am i interested enough to make an offer i love my dog but 449 is a lot of money do you think if it was 199. is it a 5 million company i think that swift paws is a 100 million dollar company in the next two to three years because this is a 100 billion dollar industry pets and uh i love that you said 199 that's my target price look i think it's a great product what you've been able to accomplish is just you are the american dream you were doing it the exact right way and you love the product so much you just want to spend all day selling it you are the perfect entrepreneur that just needs a little bit of help i just don't know that i'm the right person to help you so for those reasons thank you you still have two sharks left megan megan everything that you have done you made it yourself you did everything you could to make this work and you understand business really you're so impressive and then the product i think is really phenomenal and i think you can sell millions and millions of these yeah one time a year i do something i give away my golden lord i do i do i do it once a year to somebody i feel really deserves the dog eats that suit no i you know what you really deserve it and so i am offering you my golden ticket which means that i give you what you came and asking for which is the 240 thousand for six percent oh i was not going to offer you that lori pretzel's paw prints are on the bottom of every unit and i want to continue this journey with you oh yay i'm so glad i love it you deserve it i've been up so many nights there's gonna be so many happy dogs so many happy dogs congrats guys you're all a part of my journey now thank you oh thank you congratulations i can't believe it lori and the golden ticket and i'm so glad that she saw everything that i fought for i know baby all right kevin chase okay go gary wait wait wait okay okay [Laughter] wow [Applause] you

Channel: Sony Pictures Television

Views: 907,241

Keywords: Sony, Sony Pictures Television, Shark Tank, Shark Tank US, Shark Tank USA, Shark Tank America, American Shark Tank, Shark Tank Pitches, Shark Tank bad pitches, Shark Tank Best Pitches, Shark Tank Covid, Shark Tank Season 12, mark shark tank, kevin shark tank, lori shark tank, daymond shark tank, mr wonderful, shark tank moments, shark tank deals, shark tank pitch, shark tank best pitch, kevin oleary, mark cuban, lori greiner, Barbara Corcoran

Id: mg-8xWMY5nY

Length: 26min 19sec (1579 seconds)

Published: Sun Jul 24 2022