The Baby Toon – Silicone Baby Spoon
DEAL
EPISODE SUMMARY
🕓 Air Date: September 29, 2019
Asking For:
$50,000 for 50%
Investor:
Lori Greiner
Deal:
$50,000 for 50%
PRODUCT SUMMARY
Baby Toon is a combination of a baby spoon and teether, designed to be safe, easy for babies to grasp, and eliminates the risk of sharp edges.
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Background Story
Cassidy Crowley, a 10-year-old entrepreneur from Honolulu, Hawaii, along with her mom Lori, presented Baby Toon on Shark Tank. The idea stemmed from Cassidy’s concern for her baby sister, Emily, who often played with a traditional spoon.
Fearing she might hurt herself, Cassidy set out to create a safer alternative. In first grade, Cassidy entered a local science fair and showcased her prototype, which eventually evolved into the product we see today. The Crowley family’s journey reflects their commitment to nurturing Cassidy’s inventive spirit and turning a childhood project into a viable business.
The Product
Baby Toon is a unique baby spoon and teether combo made from 100% soft silicone. The design addresses the safety concerns associated with traditional spoons, eliminating sharp edges that could harm babies. Its rectangular body facilitates easy grasping and self-feeding.
One standout feature is the incorporation of a pacifier clip, solving the common issue of babies throwing their spoons on the floor. By attaching the Baby Toon to the baby’s shirt, parents can prevent messy situations. Manufactured in the USA, the product has gained popularity for being gentle on babies’ gums and effective for teething.
How It Went
The company’s position before Shark Tank
Since September 2018, Baby Toon has achieved $5,000 in sales, highlighting a positive market response. The total cost of production is $6.60, with each unit sold at $15, demonstrating a healthy profit margin. Cassidy’s dedication to the business is evident, and the product is not just an idea but a tangible, patented creation. The company’s commitment to quality is showcased through recent adjustments to the silicone’s durometer to enhance flexibility.
Baby Toon has already navigated the challenges of manufacturing, reflecting the team’s resilience and adaptability. While the Crowley family seeks $50,000 for 50%, Lori Greiner’s offer aligns with their vision, providing both financial support and valuable expertise.
The Negotiations:
The negotiations saw Cassidy seeking $50,000 for a 50% stake in Baby Toon. Lori Greiner, recognizing Cassidy’s entrepreneurial spirit, offered the requested amount for the same equity share. Other sharks expressed admiration for Cassidy’s achievements but ultimately bowed out due to reasons ranging from a lack of expertise in the baby space to concerns about Cassidy’s age and commitment to finishing elementary school.
Despite multiple sharks declining, Lori’s offer stood out, and Cassidy gladly accepted the deal. The negotiation showcased not only the business potential of Baby Toon but also the unique circumstances surrounding a child entrepreneur, emphasizing the significance of mentorship and guidance in this promising venture.
