While I was watching episode 22 of the 14th season of the series “Shark Tank”, the most intriguing product that was presented in my opinion, was the company EyeWris’s foldable reading glasses.

For those who need reading glasses but find it difficult to carry them around, this is just the product! As suggested by its name, the spectacles can be folded and fastened around the wrist like a bracelet. They are a great addition to the eyewear industry because they are constructed from sturdy materials and contain cutting-edge functions. Your glasses may be switched from wristwear to eyewear in only one hand, one motion and one second. The entity unites traditional design with cutting-edge technology, giving a well-known product brand-new functionality and unmatched ease.

The entrepreneurs, Mark and Kenzo Singer, won the Sharks’ approval with their solid financials, competent company concept, and consistent sales data. They were successful in negotiating a $125,000 transaction for 20% shares with Mark Cuban, Daymond John, Kevin O’Leary, Barbara Corcoran, and Lori Greiner.

Moreover, a new update on Shark Tank Success claims that EyeWris has a universal, one-size-fits-all design that works for the majority of people. They also have a utility patent, about which I have been studying about in my Business Law class (that I found interesting), which gives them protection in several nations, and they intend to introduce them to Europe soon. Each pair sells for $110 and costs $30 to produce.

Till now, EyeWris has won five international design awards, including the coveted Red Dot Award and Good Design Award given by the Chicago Athenaeum: Museum of Architecture and Design, in honour of its exceptional design quality. For branding and advertising, I would surely also use these facts in order to attract more consumers. I would also try to introduce a new version out of this product that would be overly resistant and would be able to last through athletic activities.

Furthermore, while going through there pages on social media, I noticed that their advertising on apps such as Instagram, is not that approachable or well invested into. In my opinion, it is highly essential to display your content on social media properly, especially since most of today’s generation is readily going through tons of product advertisements on these apps.

In Season 14, Episode 22 of “Shark Tank,” there was a pitch that stood out most: it was the waistband that turns any regular shirt into a  crop top without having to buy or cut one. The product is designed to be worn over any shirt,  It’s made of stretchy and  comfortable material, allowing customers to choose their desired length. By wearing this waistband over their shirts and adjusting it, people can easily transform any regular shirt into a crop top, allowing buyers to save up and keep up with fashion trends while also creating their own. This product fills a gap in the fashion market, many people want a crop top, and having the choice to test any shirt without causing damage to it is an affordable and easy way to make any shirt work to bridge the gap. This product makes shopping much simpler rather than shopping for specific crop tops, consumers can choose any shirt in their closet, saving money and reducing waste.

There were very interesting pitches in this episode of Shark Tank. One was about a board game of influencers, another was fashion for HBCU, another was an effortless way to make crop tops, and the last was movable glasses. I’m not really into games, crop tops, don’t wear glasses, and I’m clueless about HBCU fashion. So with this, the pitch that resonated with me the most is EyeWris. This is because most of the time my mother doesn’t have her glasses when she needs it!

Mark and Kenzo Singer presented this as an easier way to use your glasses. These glasses aren’t like other glasses that you have to put in a case, they can wrap around your wrist! That means you can bring your glasses with you anywhere you want, since you wear them as a bracelet. Whenever you need to use your glasses, just take them off your wrist and unroll them so they can be put on your eyes.

This fills the gap of adjustable glasses not being sold in the market. This helps the process of having your glasses when you need them! Most of the time, they are hidden in your bag or somewhere else, and you don’t have glasses to find them. Having your glasses on your wrist means you can use them anywhere because it’s easy to get to them.

I really believe consumers should feel like they need this because I hear most people who wear glasses say that a big problem they have is loosing their glasses. Mark Singer even said he bought a lot of pairs of glasses and put them everywhere, but it was still hard to find them. This would just make things easier if it was on your wrist.

I don’t really know a lot about glasses, but I know a way to appeal to more consumers is to have different colors. People like to have options, so different colors would be a plus. I think another way they can appeal to more people is having different sizes, such as sizes for kids. It would be really convenient for them for sure!

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.

Would you believe me if I said, “I’ve never watched an episode of Shark Tank.”? I really haven’t until this assignment, and I’m glad I came across this show. It has put a few things into perspective for me. I really loved two of the ideas in this episode. On a personal level I loved Ashley Jones “Tones of Melanin” clothing line. I am an African American student who aspires to further my education. I can only hope and pray I get accepted into an HBCU in my future. Ashley Jones inspired me, her business started small on her college campus, and she licensed to sell in at least 40 HBCUs. Her apparel is very fashionable, and a lot of her pieces are reversible which appears to give a consumer more bang for their buck. I also loved Ashley’s confidence and her energy as she was telling the Shark’s about her goods.

On a Business level I would have worked with Mark Singer and Kenzo Singer. “Eyewris” is an incredible idea. From working in nursing homes and just being around older people, I can’t tell you how many times they misplace their glasses or leave them home in important instances. Reading glasses are supposed to be quick and easy, a fast solution.

Mark and Kenzo describe “Eyewris” as wristwear that goes to eyewear and back to wristwear all in seconds. Their glasses are fashionable and convenient. This product fills the needs of those that are tired of misplacing their reading glasses. People who use glasses only to read are often taking the glasses on and off, because they are needed for one purpose and that is how they lose them. Now when they take off their reading glasses, they can just place it on their wrist until they need them again. This product makes it easier for the consumers that don’t like carrying a purse or backpack and can’t always carry their glasses and eyeglass case. This product will make reading on the go easier for of those in need. This idea was really innovative.

The glasses are smudge resistant, scratch resistant and impact resistant, which is very important for wearable eye wear. Any wristwear gets banged a often. The packaging and branding on this product is pretty unique. The frames come in a nice case for storing. The box is simple, with a white a black design. I was all around impressed and know there is a huge market to fill with “Eyewris”.

In season 15, episode 2 of Shark Tank, the pitch that really resonated with me was ‘Matador’. Matador was a men’s modest activewear line that mostly specialized in leggings. Leggings really connected to me because I wear them all the time, to be exact, I have 13 pairs. After going through countless pairs I have found my favorite pair are the high compression hugger leggings from Arie, so you can say I know a thing or two about what makes a good pair of leggings, a good pair of leggings. I never actually knew there was a market for men’s leggings because I have always know or thought that men mostly wear the compression under-layer and then they wear shorts or sweatpants over top. But when the pitcher Valentine started explaining why it is a good idea, I started following along because it was all the same reasons I love leggings.

The product as explained to the sharks was a modest activewear for men. The product fills the gap for men that want that feel of leggings without having to layer anything on top, and to not compromise their modesty. As Valentine explained that he was becoming a yoga instructor, and in an active setting it is much easier to not be restricted in your movements within your clothing, so to have something that feels like a second skin like the Matador leggings does help a lot. But not only for people in an active setting but also in everyday life because compression is proven to help blood flow which helps people such as stay at home dads and other professions that help you to be on your feet. Valentine was explaining to the sharks that he was looking for 250k in return hell give 10%, it cost him $18.00 and he retails them for $92.00 which is almost a 410% markup, but then that creates a decently good margin. Consumers of the product or people that are thinking of consuming the product will feel the need to participate in purchasing it because the man demographic based of the pitch being men, will see that they don’t have to compromise the feel of compression and movement no longer when they see that they can get both those affect, as well as not having to expose their little johnnies to the gym or the public eyes. Some extra add-ons to the article of clothing include a pocket, zipper pocket and a little loop to hold a t-shirt or towel.

Now based on what we have learned throughout the semester that Valentine is selling a good to the consumers. He is using feeling and experience to convey his point on why you need to buy this product. Through these experiences and explaining the feeling that the leggings create make the consumer think about the times men were self conscious about themselves but didn’t want to compromise their activities, so they just pack on the layers to save themselves of their overthinking brains thinking ‘Am I showing too much? I don’t feel stable. I don’t feel comfortable. Should I just put on the shorts and call it a day?’ which creates a connection between the product and themselves, this then creates the sales through the magic of marketing. Out of the four P’s the place is the kicker for me. He works strictly through e-commerce. Theoretically it would be a good idea, since most of the typical men that I grew up around would much rather order something online rather than going in person. But, based off those same men that I grew up around I also can see how much they spend when they are put in the setting of a Jd sport, Footlocker, Models, or a Dicks sporting goods where these stores sell a variety of brands that Valentine would be able to sell an abundance of product, especially sense he has a unique product.

All in all I think Valentine’s pitch was great but I do think he messed up when he said he has no target audience and ‘wants people to copy’ his idea. Really doesn’t come off as confident in knowing that your product is one of your own. If he just owned the fact that he caters to men and their athletic needs then it’s a starting point from which he can grow from.

Kristen Dunning’s brand “Gently Soaps” really caught my attention when she presented her brand on Shark Tank Season 15 Episode 1. Her motive for her brand was to create a soap that was plant based since she has always struggled her whole life with eczema so she wanted a soap that was gentle enough for not only people with eczema could use, but a soap for everyone. I really like that her motive is very passion driven and I feel as though a partner with the same mindset would be great for her. 

Gently Soaps eliminates essential oils and synthetic fragrances that you may find in other soaps. Fragrances in products are not good for your skin overall, however, I feel as though the people that get the most allergic reactions from fragrances are people with eczema or other skin conditions. I have a lot of friends and relatives with skin conditions and I have seen second-hand the struggle it takes to find skin products that work for them. I feel like this can be a real game changer for them. This product will ease their pain and struggles with their skin and boost their confidence by so much more.

To make this product more appealing to customers, I feel as though Kristens brand should invest in packaging its soaps in a more eye-catching box to make it stand out from other popular brands that people tend to reach for first. I feel like something else that would help her brand succeed more in revenue is maybe risking her price point and lowering the cost just by a little bit because people always are looking for good deals on things and maybe having a more reasonable price will draw in more customers. Overall I feel very drawn to her efforts and her brand. Her motive is very clear and her products seem very natural and good quality.

My favorite product pitched in Season 14; EP 22 was EyeWris. The father-son duo captured my full attention from the start. They presented themselves well and used catchy lines and jokes. The name of the company itself is catchy while also highlighting the literal concept of what the product their selling is. In addition, it is also a play on the word iris which is related to the eye and in the product category of what they are selling. Unlike the others, they used no props other than their product, and were still easily able to get everyone’s attention. Their introduction had a good gimmick, throwing out a random question that quickly caught the attention of the audience and created an interactive environment. They used their opening question to deliver their product as the punch line. The chemistry between the father-son duo seemed very healthy and well-rounded making it a business others are more likely to invest in.

Eyewris reading glasses changes from wristwear to eyewear and back again in the span of a second. It services the population of people that need reading glasses while minimizing the risk of losing it which is something most people are guilty of. You know all those people looking everywhere for their glasses only to find it on their head, I’ve done it myself. It simplifies things for consumers who can now find their reading glasses easily at a constant location while also being kept in a place that is easily accessible for future use. It also has the added bonus of not losing it which will save them money they would’ve spent on buying new ones.

I feel like consumers that have reading glasses should not only want but need this product because it fills a massive hole and gap in a population that has a need for something. It’s an essential item, not just an extra or accessory to update their wardrobes. It also completely removes the constant cycle of searching for their glasses everywhere, only to find out you didn’t have it with you in the first place. It can eventually become muscle memory by its easy access and the location its kept. It is also an interesting conversation starter in social settings that serves as a marketing pitch for the company, helping spread awareness of their product.

EyeWris found a niche that has little to no competitors giving them a large boost. They need to spend time advertising to let people know it exists. Their advertisements should be geared towards the older populations. They are most likely to read newspapers so it may be worthwhile to place a few advertisements there. In addition, they should advertise their products at checkout lines in supermarkets, senior centers, and in the library. These are the most likely places for people to need to use their reading glasses so advertising there can be used to their advantage.

The population that needs reading glasses are usually older, so the packaging of it needs to suit their needs. It should be simple, lightweight, and easy for them to open. Any instructions or warranties that may come with it should use bigger print and visual images if applicable. The biggest weakness in their idea is that reading glasses generally sell for very cheap. It’s important that they upscale their product so people feel as if it’s a worthy investment when buying. When looking at their website I noticed they had a very limited number of colors and frames. Being that their product’s biggest selling point is that it can be turned into wrist-wear it may increase sales and interest if they make the availability to design your own frames for a special price. It can help utilize the fashion accessory aspect. Consumers will be wearing it for the bulk of the day, might as well make it nice.

EyeWris introduces an innovative product that fulfills a need with an interesting twist. They have the ability to sell many glasses and make it big. With the right implementation of marketing tactics and good customer relations they definitely will.

Even though they did not close a deal, the company that stuck out the most to me was Return Home. The concept of going green even after death is very interesting and appropriate. New generations who place a high priority on their relationship to the environment would probably find the concept very appealing. There are two things for certain: life, and death. The product gave people a third option aside from just cremation and burial: Terramation. This is the concept of turning a human’s remain into soil that can be used to grow plants, or made into a terrarium. I think the idea of a terrarium burial is brilliant as it provides less waste while also giving the family a way to remember their loved one which generates new life.
While the product was very appealing, the episode taught me that even if you can create something great in the world, your passion for this thing doesn’t mean that it can get you a business deal. The owner went wrong when he assumed that a good product would sell itself and he didn’t need to consider marketing, strategy, or negotiation tactics. He showed up to Shark Tank before his company was profitable, and when the sharks gave him an out, by explaining he could raise prices, he did not accept that option. He showed his product was popular but without a profit margin each sale popularity will not help.
I think it would make sense to raise the price in certain contexts, if that is what it took to remain profitability. It would also be possible to partner with others to help with marketing and profitability, for example hospitals could help inform families, or he could provide Terramation services to more traditional funeral homes who could provide additional facilities. Since he mentioned space was a limiting factor for him, these would also be options that could increase his total volume.