Shell Bobbers Fishing Bobbers
DEAL
EPISODE SUMMARY
🕓 Air Date: April 26, 2013
Asking For:
$80,000 for 20%
Investor:
Mark Cuban
Deal:
$80,000 for 33%
PRODUCT SUMMARY
The Shell Bobber is a fishing accessory made from recycled shotgun shells, offering a unique blend of hunting and fishing culture in one innovative product.
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Background Story
Jeff Stafford and Dusty Holloway, avid hunters and fishermen, stumbled upon the idea for Shell Bobber during a hunting trip when an empty shotgun shell floated in the water, sparking the concept of a fishing bobber. Recognizing the potential crossover appeal between hunting and fishing communities, they embarked on creating the Shell Bobber.
After developing a prototype and conducting market tests at local bait-and-tackle shops, where the product received an enthusiastic reception, they sought funding on Shark Tank to scale their operations and expand distribution.
The Product
With a provisional patent secured for the Shell Bobber design and trademarks for both “Shell Bobbers” and “Fishing Ammo,” the company has demonstrated initial market validation through successful sales in local bait-and-tackle shops and a pilot program with Ace Hardware.
However, the company lacks significant scalability due to manual production processes and limited resources for expansion. The $80,000 investment sought on Shark Tank is intended to fund inventory, equipment upgrades, and hiring to scale production and distribution channels.
How It Went
The company’s position before Shark Tank
With a provisional patent secured for the Shell Bobber design and trademarks for both “Shell Bobbers” and “Fishing Ammo,” the company has demonstrated initial market validation through successful sales in local bait-and-tackle shops and a pilot program with Ace Hardware. However, the company lacks significant scalability due to manual production processes and limited resources for expansion. The $80,000 investment sought on Shark Tank is intended to fund inventory, equipment upgrades, and hiring to scale production and distribution channels.
The Negotiations:
After pitching their product, Jeff and Dusty received offers from Kevin O’Leary and Mark Cuban. While O’Leary proposed $80,000 for 50% equity with a royalty agreement, Cuban countered with the same investment amount for 33% equity, providing the founders with greater ownership control. Despite initial hesitation, Jeff and Dusty ultimately accepted Cuban’s offer, citing his belief in their product and vision for its success. Mark Cuban’s investment is expected to accelerate the expansion of Shell Bobber’s presence in the fishing accessory market, fulfilling the founders’ American Dream.
