Ice Shaker – Premium Insulated Drinkware
DEAL
EPISODE SUMMARY
🕓 Air Date: October 15, 2017
Asking For:
$100,000 for 10%
Investor:
Mark Cuban, Alex Rodriguez (50/50)
Deal:
$150,000 for 15%
PRODUCT SUMMARY
Ice Shaker is a double-wall, vacuum-insulated stainless steel shaker bottle that keeps ice for over 30 hours and eliminates issues like leaking, breaking, and odor absorption.
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Background Story
Chris, from a family of five boys in Dallas, Texas, grew up surrounded by gym enthusiasts. Frustrated with the common problems of existing shaker bottles, he created the Ice Shaker. The Gronkowski brothers, including Super Bowl champs Gordie, Dan, Rob, and Glenn, join Chris to demonstrate the product on “Shark Tank.” Chris emphasizes his desire to offer a superior product, and the Gronks showcase their preference for the Ice Shaker during their post-workout hydration sessions, incorporating a game of flip-cups.
The Product
The Ice Shaker is a double-wall, vacuum-insulated shaker bottle made of kitchen-grade stainless steel. It can maintain ice for over 30 hours, doesn’t sweat, and doesn’t absorb odors. The classic pop-top is insulated, and its stainless steel construction eliminates common issues found in plastic bottles.
Priced at $25, it boasts an 80% profit margin, with production costs around $5. The product is currently available on their website, Amazon, select retail stores and fitness expos.
How It Went
The company’s position before Shark Tank
In the first six months, Ice Shaker has generated $80,000 in sales, with $35,000 in the last two months. The product is sold online, in retail stores, and at fitness expos. The bottle’s retail price is $25, offering an 80% profit margin. Chris highlights being first-to-market with positive online reviews and minimal marketing spend. The company is structured for growth, and Chris seeks $100,000 not just for funding but for expertise.
The Negotiations:
All five sharks express interest, with Kevin O’Leary proposing $100,000 for 20%. Mark Cuban and Alex Rodriguez combined for an offer of $150,000 for 20%. Lori Greiner offers $100,000 for 15% while Barbara Corcoran, a Gronkowski family fan, offers $100,000 for 10%.
The founder countered, asking if Lori would join Mark and Alex’s deal, but Mark declined. Eventually, Mark and Alex secured the deal with $150,000 for 15%. The negotiation includes a playful dynamic between the sharks, showcasing their eagerness to be associated with the popular Gronkowski family and the potential success of the Ice Shaker in the fitness industry.
