Hydromax Wearable Water Bottle
DEAL
EPISODE SUMMARY
🕓 Air Date: April 29, 2011
Asking For:
$50,000 for 25%
Investor:
Jeff Foxworthy
Deal:
$50,000 for 50%
PRODUCT SUMMARY
Hydromax is a hydration system designed to mount onto the back of any pair of shoulder pads, providing football players with easy access to water during games to prevent heat-related incidents and dehydration.
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Background Story
Chris Spencer, a resident of Houston, Texas, and the founder of Hydromax, has always been passionate about sports. His journey into entrepreneurship began with a deep concern for the safety and well-being of young athletes, particularly in the high-intensity sport of football. Witnessing the alarming number of heat-related incidents and dehydration cases among players, Chris was determined to find a solution. With a background in athletics and a career in corporate America, Chris had the unique perspective and experience to address this pressing issue.
Drawing from his own experiences as an athlete and leveraging his skills as an innovator, Chris set out to create a product that would revolutionize the way football players hydrate during games. The idea for Hydromax was born out of Chris’s personal observations and experiences. He envisioned a hydration system that would provide football players with easy access to water during gameplay, reducing the risk of heat-related injuries and improving overall performance on the field. Despite the challenges of balancing his corporate job with his entrepreneurial pursuits, Chris remained committed to bringing Hydromax to market.
His passion for sports safety and dedication to making a difference in the lives of young athletes fueled his determination to succeed. Located in the heart of Texas, Chris and his team at Hydromax are driven by a shared mission to enhance the safety and performance of athletes nationwide. With a focus on innovation and impact, Hydromax is poised to become a game-changer in the sports industry, thanks to Chris’s vision and relentless pursuit of excellence.
The Product
Hydromax is a groundbreaking hydration system designed specifically for football players, providing easy access to water during games to prevent dehydration and heat-related incidents. The system consists of a compact unit that mounts onto the back of any pair of shoulder pads using Velcro straps, ensuring a secure and comfortable fit.
Featuring a protective shell, an impact-resistant 16-ounce bladder made of antimicrobial material, and a convenient tube with a bite valve, Hydromax allows players to hydrate quickly and efficiently between plays. The system’s intuitive design ensures that players can stay focused on the game without interrupting their performance.
Hydromax offers several benefits to both players and coaches, including enhanced safety, improved performance, and increased endurance on the field. By providing continuous access to water, Hydromax helps players stay hydrated throughout the game, reducing the risk of heat exhaustion and fatigue.
The system is priced at $49.99 and can be purchased online through the company’s website or through select retailers. With its durable construction and user-friendly design, Hydromax is a must-have accessory for football players of all ages and skill levels, revolutionizing the way hydration is managed on the gridiron.
How It Went
The company’s position before Shark Tank
Hydromax, led by founder Chris Spencer, is positioned as a promising player in the sports safety industry, particularly in the niche market of football hydration solutions. While the company had limited sales in 2007, amounting to $100,000, its potential for growth and impact has been hindered by Chris’s commitments to his corporate job and family responsibilities. At the time of the pitch, Hydromax had no disclosed partners or wholesalers, indicating a need for strategic alliances and distribution channels to reach a wider audience.
The company’s target customers include football players, coaches, and sports organizations seeking innovative solutions to enhance player safety and performance on the field. In terms of funding, Hydromax was seeking $50,000 for 25% equity, indicating a valuation that valued the company at $200,000. Jeff Foxworthy ultimately offered $50,000 for 50% equity, providing the necessary capital to propel Hydromax forward.
With Jeff’s investment and guidance, Hydromax is poised to secure additional funding, establish partnerships with manufacturers and distributors, and expand its market reach. The company’s current structure likely revolves around Chris Spencer as the founder and CEO, with potential plans to hire additional staff and build a dedicated team to support product development, marketing, and sales efforts. With a clear focus on innovation, safety, and impact, Hydromax is well-positioned to carve out a niche in the competitive sports industry and become a trusted name in football hydration solutions.
The Negotiations:
During the negotiations, Chris Spencer entered the Tank seeking $50,000 for 25% equity in Hydromax, a hydration system designed for football players. While expressing genuine concern for the safety of young athletes, Chris faced skepticism from some Sharks regarding the company’s valuation and his ability to dedicate sufficient time to the business due to his corporate job and family commitments.
Despite initial hesitation from several Sharks, Jeff Foxworthy recognized the product’s potential and made a compelling offer of $50,000 for 50% equity. Although this represented a higher equity stake than Chris had initially sought, Jeff’s offer came with invaluable mentorship, resources, and industry connections that could significantly accelerate Hydromax’s growth and market penetration.
Chris ultimately accepted Jeff’s offer, seeing it as a strategic partnership that aligned with his vision for Hydromax’s future. The negotiations highlighted the importance of finding the right investor who not only provides funding but also shares the founder’s passion and vision for the company. With Jeff’s expertise and support, Hydromax is poised to make a meaningful impact in the sports safety industry, potentially saving lives and revolutionizing the way football players hydrate during games.
