5 of the Craziest Shark Tank Inventions
Max Valverde seriously wanted to make a deal with the sharks for his showercap product Morninghead. However, the sharks did not take him seriously. They saw the product as more of a novelty item than one that could do big business.
It is not because the product is a failure or does not have sales. Morninghead was actually very successful in its Kickstarter campaign. It raised more than six times its target. Max only wanted $1,000 but ended up with $6,300. It was a resounding success!
Max has sold more than 7,000 units to over 42 countries. There are even people who subscribe and order Morninghead in bulk.
Morninghead is not some fancy gadget or something that uses high technology. It is a modified showercap with an absorbent material inside and a bumper sticker outside.
The margins are also great. A $7.99 Morninghead only costs $1.19 to make and can even be cheaper with more volume.
The purpose of the product is to make sure you only have the right amount of moisture in your hair so it is easy to groom. It helps solve the bedhead problem.
The sharks were amused by the product and laughed heartily through the presentation. They never saw the product as something that was scalable.
While Max will make money through the product, don't hold your breath on seeing him get rich off of it.
At first glance, the thought of having lights on a toilet bowl may seem ridiculous and silly. However, when you think about it, it does serve a purpose. Going to the toilet in the middle of the night is a hassle. You have to find the light switch. At the same time, when you do find the light switch, the bright light is very bothersome, especially when you just woke up to use the toilet.There is also a chance you might stumble in the bathroom.
Illumibowl is a toilet seat attachment that gently lights up your toilet with a low powered LED light. It has a motion sensor so there is no need to look for the switch. The Illumibowl is very easy to install and comes in a variety of colors.
Matt Alexander thought of the product due to him stumbling a lot in his frequent trips to the bathroom. When he manages to not stumble and find the light switch, he is greeted by a glaring bright light.Matt thought that aside from fixing his own problem, he could help other people too. He then worked with Michael Kannely to make a suitable prototype.
In order to fund their ambitious project, they decided to go the Kickstarter route. They exceeded their goal of $20,000 by almost five times. They were able to raise almost $100,000 to fund their venture.
The presentation turned to comedy when Matt presented to the sharks a planned future product. It was an Illumibowl that could project images onto a toilet. The sample image was that of a smiling Kevin O' Leary. This illicited laughter from the sharks. They began to rib Kevin.
Kevin was a good sport however, and he's a smart enough investor to know a good opportunity when he sees one. Kevin O' Leary saw potential in the product and saw it as an actual need, not as a gag item.
He sealed the deal with the duo with a $100,000 offer for 20% of the company.
Dr. Floyd Seskin is a urologist who decided to take his practice to the next level. He actually created a modified golf club that also served as a urinal. He did this as a solution for golfers who needed to heed the call of nature during long walks on the golf course.
The kit also included a piece of cloth which served as a privacy shield to make your urination discreet.
The sharks laughed at the invention and saw it as a mere gag gift. They also saw the limitation of the club as women could not use it.
The uroclub was not without merit however as Dr. Seskin already has 3,000 units sold. The product has already appeared in an infomercial and has an online presence.
Contrary to most entrepreneurs in the tank, Dr. Seskin does not need the money to grow or save his business. He actually makes a good living off his profession. What he needed was a strategic partner to help market his golf clubs.
The sharks did not see any potential for the product save for one.
Kevin Harrington, the king of infomercials saw the product as marketable and decided to put in $25,000 for a 70% stake in the company. While this was way more than what Dr. Seskin was initially wanting to part with, none of the other sharks wanted to take a bite and he felt that Kevin was just the man to take his business to the next level.
Ever wondered what it is like to be a Transformer? Then wonder no more! The Drive Suit is a costume with electrical and mechanical components that allows you transform into a vehicle.
Drew Beaumier was a film and art student who was fascinated with robots and used this fascination to design functional costumes. Instead of just being a knight, wizard, or vampire, Drew actually designed Transformer costumes. He has taken his show on the road and he and his merry band have been taking bookings, much to the delight of children and children-at-heart.
While Drew gained a level of success in going the traveling performance route, he wanted to mass produce the suits and let people enjoy them.
This is where Shark Tank comes in. Drew and his crew drove into the tank to seek $150,000 for 20% of the business.
This impressed the sharks. It had a certain cool factor to it.
While the robotic costumes generated some interest in the tank, there were safety concerns as well as concerns in terms of manufacturing and distribution.
Despite this, Drew still got two offers. One for $150,000 for 40% of the company by Mark Cuban. Mark wanted to hire an engineer to refine the suits and also wanted it to be sold online. He got another offer for $150,000 for 30% from Kevin O' Leary contingent on it being picked up by a toy company in a licensing deal.
Drew picked Kevin's offer but the deal fell through and Drew and his merry band of Transformers are available for bookings.
There is basically an app for everything. There is an app for messaging. There is an app for finding tickets. There is even an app for stock trading. Why not an app for cheating?
Neil Desai came into the tank with the cheater's app. It intercepts phone calls and texts from selected numbers and hides them within its interface. That way, a cheater can be discreet.
Ironically, the app was developed by a cop. The cop had no time to market it so he sold it to Neil for $17,500.
The sharks had ideas for the app as a privacy app rather than a cheater's app. Kevin wanted it for his team to hide sales numbers. Barbara wanted it to protect her husband's witnesses and sources.
Neil closed a deal with Daymond and Kevin. However, the app is gone now and the website is down. There was so much potential for the app but it failed to gain traction.
Crazy Shark Tank Inventions
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© 2018 Jan Michael Ong