Suds2Go Portable Hand Washing System
DEAL
EPISODE SUMMARY
🕓 Air Date: April 16, 2021
Asking For:
$200,000 for 10%
Investor:
Robert Herjavec
Deal:
$200,000 for 15%
PRODUCT SUMMARY
Suds2Go is a portable handwashing system that allows users to bring soap and water anywhere for effective hand hygiene without the need for a sink.
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Background Story
Gabe and Cindy Trevizo, childhood sweethearts from Gilbert, Arizona, created Suds2Go to address the challenge of keeping hands clean, especially for children, while outdoors. They were inspired by the need for a convenient and effective handwashing solution, given the limitations of hand sanitizers and wipes.
The couple has a history of hard work and determination, having faced financial difficulties in the past. Their personal experiences motivated them to develop a practical and innovative product that could make hand hygiene more accessible.
The Product
Suds2Go offers two versions of its portable handwashing system. The reusable bottle version requires users to fill one section with water and another with foaming soap. By pumping the soap and pouring water, users can easily wash their hands anywhere.
The second version is designed to fit onto disposable water bottles, offering even greater portability. Both versions are efficient and convenient, promoting proper handwashing with real soap and water.
The disposable version is sold in a two-pack for $10.99, while the reusable bottle version is priced at $36.99. The product has a sleek design and is reusable, making it an eco-friendly choice for consumers.
How It Went
The company’s position before Shark Tank
Suds2Go had a successful Kickstarter campaign in 2018, raising $12,500 and garnering social proof. They launched their website sales on February 1st and quickly sold out of their initial inventory of 4,000 bottles in just six weeks. Their lifetime sales totaled $392,000, reflecting the product’s strong demand during the COVID-19 pandemic.
The couple has invested approximately $80,000 of their own savings into the business and holds a utility patent for both versions of their product. They have $90,000 in the business account and $120,000 worth of paid inventory, totaling $210,000 in available capital. Suds2Go’s future plans include expanding into global markets and investing in distribution.
The Negotiations:
The entrepreneurs, Gabe and Cindy Trevizo entered the Shark Tank seeking $200,000 for 10% equity in their company, Suds2Go. They presented a product designed to address the challenge of keeping hands clean while outdoors or away from sinks.
Kevin O’Leary expressed concern about the product’s pricing but ultimately did not make an offer due to a competing product in his portfolio. Mark Cuban was intrigued by the business but decided not to invest due to concerns about competition in the space.
Robert Herjavec, however, was impressed by the entrepreneurs’ dedication and the product’s success, having sold out their initial inventory quickly. He made an offer of $200,000 for 15% equity, which the entrepreneurs accepted. The deal with Robert marked a significant milestone for Suds2Go, as they secured funding and guidance to expand their business and enter global markets.
