There were a lot of good pitches in this episode, but most of them didn’t stand out to me mostly because of the way they strategize their products. Out of all the pitches from Season 15, Episode 2 of Shark Tank, my favorite pitch was Maurice’s and Miles’ pitch. The father and son pitched their emergency sandbag company called “Stormbag”. This product is not like the traditional sandbag, it does not need sand, or any type of labor and it just needs water. It weighs about one pounds when dry, and up to thirty pounds when water is absorbed. The Stormbag can be used by anyone, regardless of their physical ability.
A traditional sandbag usually weighs around thirty-five to forty pounds and involves labor such as moving it around and placing it wherever you need to, to protect your home from the storm. Let’s say you need about thirty to forty sandbags to protect your home, not everyone can easily carry and move around thirty-five-pound sandbags. I know, I wouldn’t be able to. I would be tired and just give up after trying to carry one sandbag, but with Stormbag, no one needs to struggle and possibly hurt themselves especially their back. This product is made out of absorbent polymer and absorbs three hundred times it weight per granular. This product goes back to its original form once it’s dried up and you can reuse it for about three times.
With zero marketing done the company has made $90,000. A bag sells for $5.50 each compared to sandbags which is free, but it involves work moving it around. The cost to make the product is $2 and can be brought down to $1.75. One of the sharks, Kevin, was hesitant since their competition is free, so he ended up not making an offer. Daniel and Daymond were interested with working with Maurice and Miles for $200,000 for 40%, which they later on decreased to 30% stake. On the other hand, Kevin and Lori teamed up as well and offered $200,000 for 30% stake. The father and son ended up teaming up with Lori and Mark.
I do believe that this product will make more revenue and more attention once they provide marketing for the Stormbag. The original packaging of the product is perfect for NGO and military, to make this product appealing to customers they need to repackage the product for different applications. Repackaging the product for different applications will be helpful and easier for customers to buy. They can as well increase the product price to make the company more profitable. This product can be used in many different ways and will be worth every penny that you pay for.
