Nubrella Hands Free Umbrella
DEAL
EPISODE SUMMARY
🕓 Air Date: February 5, 2010
Asking For:
$200,000 for 25%
Investor:
Daymond John, Kevin Harrington (50/50)
Deal:
$200,000 for 51%
PRODUCT SUMMARY
Nubrella presents a revolutionary umbrella design that is impossible to invert, provides significant warmth by blocking wind chill, and can be used hands-free even in strong winds.
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Background Story
Alan Kaufman, the founder and president of Nubrella, introduced his groundbreaking umbrella design on Shark Tank. Alan’s background in extreme weather gear and product innovation has been instrumental in the development of Nubrella. With a passion for addressing common issues with traditional umbrellas, Alan embarked on a journey to create a superior solution. His experience in designing extreme weather gear provided valuable insights into the needs of consumers facing harsh weather conditions.
Frustrated by the limitations of conventional umbrellas, such as inversion and lack of hands-free functionality, Alan set out to revolutionize the umbrella market. Drawing from his expertise and entrepreneurial spirit, Alan conceptualized Nubrella—a product that combines innovative design with practical functionality. Through meticulous research and development, Alan and his team crafted an umbrella that is impossible to invert, provides enhanced warmth by blocking wind chill, and offers hands-free usage even in strong winds.
Alan’s vision for Nubrella extends beyond just creating a product; he aims to build an extreme weather gear brand that resonates with consumers worldwide. His commitment to quality and innovation has garnered attention from media outlets and consumers alike, laying the foundation for Nubrella’s success in the market. With a patent issued in the U.S. and pending in Europe, Nubrella represents a significant milestone in Alan’s entrepreneurial journey, driven by a desire to disrupt the umbrella industry and provide consumers with a superior alternative.
The Product
Nubrella introduces a paradigm shift in traditional umbrella design, offering a revolutionary solution to common umbrella issues. Weighing approximately 2.5 pounds, Nubrella’s innovative design ensures it remains impervious to inversion, a common frustration with standard umbrellas. Its unique construction provides users with enhanced warmth by effectively blocking wind chill, making it ideal for inclement weather conditions.
One of Nubrella’s standout features is its hands-free functionality, allowing users to engage in various activities without hindrance, even in strong winds. The umbrella securely fastens to the wearer’s body, providing stability and comfort during use. Its ergonomic design ensures ease of movement and adaptability to different body types.
Nubrella can be purchased online through the company’s website or through select retail partners. Initially priced at $49, recent sourcing from a new manufacturer has allowed for a reduced price point of $29, making it more accessible to consumers. With a patent issued in the U.S. and pending in Europe, Nubrella represents a cutting-edge solution to traditional umbrella limitations, catering to individuals seeking superior protection and convenience in adverse weather conditions.
How It Went
The company’s position before Shark Tank
Nubrella has demonstrated strong growth and market traction since its inception, propelled by its innovative product design and strategic positioning in the extreme weather gear market. The company has successfully sold 3,000 units primarily through online channels, indicating significant consumer interest and demand for its product. Despite challenges meeting demand, Nubrella’s unique value proposition has garnered attention from consumers worldwide, with inquiries and orders pouring in from 47 countries.
Nubrella’s distribution strategy primarily revolves around online sales through its website, leveraging media exposure and word-of-mouth marketing to reach customers globally. The company has not yet tapped into traditional retail channels, but interest from wholesalers and retailers suggests potential for future expansion. In terms of funding, Nubrella has received internal investment totaling $900,000, with additional funding sought from external investors on Shark Tank. The $200,000 investment offered by Daymond John and Kevin Harrington, in exchange for a controlling 51% stake, provides Nubrella with the necessary capital to scale operations and meet growing demand.
With a focus on building an extreme weather gear brand, Nubrella targets consumers seeking superior protection and convenience in adverse weather conditions. The company’s structure likely includes a dedicated team managing operations, sales, and marketing efforts, with Alan Kaufman leading the helm as founder and president. As Nubrella continues to expand its presence and reach in the market, strategic partnerships and investments will play a crucial role in driving future growth and success.
The Negotiations:
The negotiations for Nubrella on Shark Tank showcased Alan Kaufman’s determination and the Sharks’ interest in the innovative product. Alan initially sought $200,000 for a 25% stake in the company, but Daymond John and Kevin Harrington countered with an offer of $200,000 for a controlling 51% stake. This proposal surprised Alan, who expressed concern about giving up majority ownership but ultimately accepted the deal, valuing the expertise and resources Daymond and Kevin bring to the table.
Despite initial hesitations, Alan recognized the potential benefits of partnering with the Sharks, particularly in expanding Nubrella’s retail presence and leveraging their respective networks. The negotiation process highlighted Alan’s honesty and the Sharks’ willingness to invest in a unique product with global appeal. However, tension arose when Barbara Corcoran and Robert Herjavec expressed doubts about the product’s mass-market appeal and profitability. While they admired Alan’s honesty and entrepreneurial spirit, they ultimately decided to bow out of the negotiations.
In the end, Alan accepted the deal offered by Daymond and Kevin, acknowledging the value they bring in terms of expertise and financial resources. The negotiation concluded with a mutually beneficial agreement, paving the way for Nubrella to further establish itself as a leader in the extreme weather gear market with the support of experienced investors.
