The Sharks Think Pawnix Is Priced Too High | Shark Tank US | Shark Tank Global

[Music] [Applause] next up is a solution for one of a dog's biggest [Music] anxieties hi sharks my name is Kirsten brand and this is Emma brand and we're here seeking investment of $150,000 for 10% of our company ponic now sharks we love to celebrate we love weddings sporting events New Year's Eve and in America we especially love the 4th of July and do you know how we love to celebrate these events you guessed it with fireworks but you know who doesn't love Fireworks Emma they are not high on her favorite things at all she like millions of dogs around the world is scared of thunderstorms and fireworks so much so that in 2017 during a fireworks celebration in pataski Michigan she busted out of her confin and ran away luckily I got her back but others aren't so lucky so I set out to find a solution and what I found is that there's not one single solution that all dog owners can rely on so we invented ponics noise cancelling headphones for dogs each pair of ponics is made with active and passive noise cancelling technology oh my God our system protects and counter conditions our fur babies from the loud noises that also have the potential to damage their hearing ponix is a necessity for dog owners especially ones that have dogs that are scared of loud noises Emma and I have just begun and we've already helped many dogs and we're looking to help them all so sharks who's ready to join us and help other dogs tune out the loud scary noises that scare them the most so Kirsten can I ask you when a dog is first uh strapped into the ponics do they freak out because I would think they really cherish their sense of hearing some of them do you're right um their sense of hearing is so much more sensitive than ours so we always encourage our pet parents to do a lot of treating beforehand so that they get accustomed to the headset and they don't associate the headset with the actual loud noises and we can do a lot of how did it take you to get Emma to let let you strap this on her head so Emma being The Muse for it and the guinea pig um she went through a lot of iterations of how this was going to work and how it was going to fit on her head and so you can see she she's giving up she's giving up so I'm going to let her be a little more comfortable does it play music or Sound there's a whole chipet with the Active technology that takes the sound in converts it to a wavelength flips it 180° and plays it back out to then counteract the original sound as it comes into your that's how all noise cancelling works though exactly so we have have the state-of-the-art ship that is the same as the humans and we scientifically and software tailor it to the loud noises that scare them the most how tight do you need to put it on before they obviously try to take it off by themselves yeah so we have the four different sizes and we also will do custom fits because not all dogs ears are in the same place so tell us what happens if a dog is hearing fireworks really loud sounds does it actually really hurt them yes they hear more than we do and they hear it further away so they're alerting us most of the time but what also is going on is that they're having a stressful reaction and just like us they're releasing cortisol into their system which then over time also intensifies the noise so then it's a vicious cycle where they've conditioned themselves that since the noise is loud then they're more scared tell us about you what's your background so I was in the pet industry at Mars Pet Care doing research and development for the last nine years so from a consumer side I not only am a so you have a ton of experience in this what does it sell for what does it cost you it is $1.99 direct to consum on our e-commerce site and landed it's $108 you don't have tons of margins currently I buying all minimum order quantities and I know we have a lot of room to bring down all the costs and increase the margins so why don't you sell it for more I think $200 for doggy headphones that are expensive yeah but you got to be able to afford it in the first place it's not cheap no matter how you look at it right yes so we wanted to start with a reasonable price point and get a minimum viable product out there I have IDE how long have you been selling we're about a year in and how much have you sold 106,000 in sales okay wow that's not bad your website do I actually get some video of dogs that are now you know customed like em is it Emma yeah I mean Emma's now used to that thing Emma hat I guess the drugs are wearing off she wants to know what's going on I'm free I'm free oh she's hurt what's wrong she's 15 years old and with that comes some ailments like a little arthritis but she's doing fine she looks good for her age thank she does and absolutely adorable well I mean the credibility of it I know like they're joking and all of that but but technically I know because there's other products on the market that are that are to calm dogs yes so I think that there's credibility in this I just don't know the price point is what sticks me because people might shy away from it because it's just too costly yes so at $199 we found that people then see that it's credible so as an engineer you know I wanted to throw the kitchen sink at it too which was going to make it very costly but this also gives us a runway for a pipeline that to have a 2.0 and a 3.0 J uh I love animals I love dogs especially Emma is beautiful um I think the padding alone could work I think if you sold this for $30 to $40 it would open up your Market I think at the price point the noise cancelling you're a niche of a niche of a niche of a market I don't see it I'm out okay Emma I think your background fits this perfectly and I think that this I honestly this looks so cute on I could totally see this just being passed on social media just for how adorable it is but I don't know that you need to have the electronics in it if your price point was something like $29 yes you'd sell thousands and thousands of them and so for me uh just because where it's at right now I just have a different vision for it I'm I'm out that's okay you may come back I think I think the the the trying to explain this in an easy way will be challenging from a marketing standpoint yeah I I I just don't think it's for me I'm out okay fair enough and I look for three things in a product one is it unique and Def differentiated yes that it is yes two can the entrepreneur and founder sell it you can but the third part is I have to be able to sell it and be excited about it and it's just not in my wheelhouse so for those Reasons I'm out okay so when I actually saw it and you came in here I thought okay this is a joke it's funny but you're serious yes and and I I believe you as an engineer I get it I just don't need doggy headphones in my portfolio now it's just not for me I'm out okay thank you Emma we're going to miss you well thank you everyone good luck you did good out there he tried to help me sell it maybe it's not for everybody we're going to take into consideration all the feedback and we're going to come back stronger than ever

Channel: Shark Tank Global

Views: 81,165

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv, pawnix noise cancelling headphones, pawnix, pawnix shark tank

Id: BUqy99t_fhQ

Length: 8min 5sec (485 seconds)

Published: Wed Jun 26 2024