Bottle Breacher Bullet Bottle Opener
DEAL
EPISODE SUMMARY
🕓 Air Date: November 7, 2014
Asking For:
$150,000 for 10%
Investor:
Mark Cuban, Kevin O'Leary (50/50)
Deal:
$150,000 for 20%
PRODUCT SUMMARY
Bottle Breacher creates personalized .50-caliber bottle openers made from recycled bullets.
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Background Story
Bottle Breacher, founded by Eli and Jen Crane, stands as a testament to entrepreneurship inspired by military experience. Eli, a former Navy S.E.A.L., and his wife, Jen, embarked on their entrepreneurial journey with a clear mission – to provide for their family post Eli’s military service. The couple, based in San Diego, found themselves at a crossroads as Eli transitioned from a decorated military career. Facing the challenge of sustaining their family, Eli leveraged his military background to create a unique and marketable product. The idea for Bottle Breacher emerged from Eli’s desire to combine his love for large-caliber bullets, a symbol of his military service, with an everyday item — a bottle opener. This convergence birthed the .50-caliber bottle opener, a distinctive and functional product that resonated with a broad audience.
Eli’s military journey, including three combat deployments to Iraq and a challenging experience during SEAL training, shaped the resilience and determination that fueled Bottle Breacher’s inception. The couple’s story reflects a commitment to overcoming obstacles, mirroring the values ingrained in military training. Jen’s involvement in the business intensified as Eli’s military deployments continued. Faced with loneliness and seeking a creative outlet, she immersed herself in running the business online. This experience not only strengthened their partnership but also allowed them to navigate the intricacies of entrepreneurship together.
As they grew Bottle Breacher, Eli and Jen envisioned opportunities beyond the product itself. Their business expanded into the wedding market, with the personalized .50-caliber bottle openers becoming a popular choice for groomsmen gifts. The decision to wait until Eli’s military service concluded before expanding further showcases their strategic approach to business, combining personal passion with market insight. The founding story of Bottle Breacher reflects not only a successful business venture but also a narrative of resilience, creativity, and the determination to turn military experience into a thriving entrepreneurial endeavor.
The Product
Bottle Breacher’s flagship product is the .50-caliber bottle opener, an innovative and personalized accessory that seamlessly blends military aesthetics with everyday utility. Crafted from recycled bullets, these distinctive bottle openers provide a unique and functional solution for beer enthusiasts.
The .50-caliber bottle opener is designed to mimic the appearance of a real .50-caliber bullet, adding an element of ruggedness to a commonly used item. The product works by utilizing the bullet casing as the handle and the tip as the opener. The recycled bullets used in production contribute to the product’s authenticity while also promoting sustainability.
Customers have the option to personalize their bottle openers with engravings, allowing them to add custom messages, names, or dates. The versatility of the product makes it suitable for various occasions, but its primary market niche lies in weddings, where it serves as an ideal groomsmen gift.
Purchasing the .50-caliber bottle opener is accessible through Bottle Breacher’s online platforms, including their Etsy store and official website. The average price for a personalized opener is $23.50, offering customers a unique and memorable gift option at an affordable cost. Additional features such as optional engravings, various bullet types, and customization options enhance the product’s appeal, providing a personalized touch that resonates with customers.
How It Went
The company’s position before Shark Tank
Bottle Breacher has demonstrated robust performance since its establishment in 2018, showcasing a trajectory of growth and profitability. The company’s strategic positioning in the market has been primarily online, leveraging platforms like Etsy and their official website, contributing significantly to their success. The founders, Eli and Jen Crane, have effectively navigated challenges and strategically expanded into brick-and-mortar stores, emphasizing personalized .50-caliber bottle openers as ideal gifts, particularly in the lucrative wedding market. Partnerships and collaborations have played a key role in Bottle Breacher’s success.
The founders have shown an astute understanding of their customer base, with a primary focus on the wedding market, where personalized bottle openers serve as cherished groomsmen gifts. Bottle Breacher has predominantly relied on online sales, showcasing adaptability to evolving market trends. The founders have recognized the significance of direct sourcing from manufacturers to reduce costs, indicating a keen eye on optimizing operational efficiency. The financial health of Bottle Breacher appears robust, with a year-to-date sales figure of $500,000 and a projected year-end revenue of $840,000. The company has demonstrated profitability, selling units at an average price between $16 to $18.
In terms of the company’s structure, Bottle Breacher has a straightforward approach to its business model, focusing on the production and sale of personalized .50-caliber bottle openers. With the recent investment offer from Mark Cuban and Kevin O’Leary, the founders are poised to strengthen and expand their operations. The $150,000 investment is earmarked for capacity expansion, including additional engraving equipment to meet growing demand. Overall, Bottle Breacher’s performance is marked by resilience, adaptability, and strategic decision-making, positioning it as a successful player in the personalized gift market.
The Negotiations:
The negotiations for Bottle Breacher unfolded with Eli and Jen Crane seeking a $150,000 investment for a 10% equity stake in their business. Mark Cuban and Kevin O’Leary swiftly engaged in the negotiation, jointly offering the requested amount but for a slightly larger equity share — a 20% stake in the company. Their offer was straightforward and contingent-free, expressing their confidence in Bottle Breacher’s potential for growth. Daymond John, recognizing the market potential, made a solo offer of $200,000 for a 25% equity stake, contingent on securing licenses for additional product lines. John’s offer emphasized his belief in the scalability of the business and his interest in expanding the product range.
Eli and Jen, appreciating the offers, expressed their gratitude for the unexpected opportunity. However, demonstrating shrewd negotiation skills, they requested a moment to hear if there were any other offers on the table, out of respect for the other Sharks. Barbara Corcoran opted out of the deal, citing her preference for larger markets, leaving Mark Cuban and Kevin O’Leary as the main contenders. Mark Cuban, displaying his entrepreneurial acumen and admiration for Eli’s military background, made an unexpected offer — $150,000 for a 20% equity stake, with both him and Kevin O’Leary receiving a 10% share.
This unique joint offer from Mark Cuban and Kevin O’Leary took Eli and Jen by surprise, and they expressed their deep appreciation for the opportunity to work with both Sharks. After a brief consideration, the couple accepted the joint offer, solidifying a deal that promised not only financial backing but also the mentorship of two seasoned Sharks. The negotiation showcased the Sharks’ interest in Bottle Breacher’s unique product, the founders’ compelling story, and culminated in a successful partnership that is expected to propel Bottle Breacher to new heights in the personalized gift market.
