FireFighter1 – Fire Hose
DEAL
EPISODE SUMMARY
🕓 Air Date: December 2, 2022
Asking For:
$150,000 for 15%
Investor:
Lori Greiner, Mark Cuban (50/50)
Deal:
$150,000 for 25%
PRODUCT SUMMARY
FireFighter1 is an innovative solution that allows pool owners to quickly access and use pool water to combat wildfires and protect their properties.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
Bianca Wittenberg, the co-founder of FireFighter1, hails from El Dorado Hills, California. She introduced her product on Shark Tank to address the increasingly devastating problem of wildfires in the region. The idea for FireFighter1 was born out of a deep concern for homeowners faced with the threat of wildfires and a desire to protect their properties.
Bianca’s inspiration came from her father, who observed people trying to protect their homes with garden hoses during wildfires while watching news coverage. He realized that many homes had pools, which could serve as a valuable water source for firefighting efforts. Thus, FireFighter1 was conceived as an affordable and efficient solution for pool owners to access their pool water quickly in case of a fire emergency.
Unfortunately, Bianca’s father passed away more than five years ago, but she has carried on his legacy by redeveloping and refining the FireFighter1 concept. She recognized the need to make this innovative product widely available to help people safeguard their homes from wildfires, a recurring threat in Southern California.
The Product
FireFighter1 is a firefighting solution designed for pool owners to rapidly access and use their pool water during wildfires or other fire emergencies. The product consists of a specialized hose with an adapter that connects to a pool pump, allowing for the efficient distribution of pool water to combat fires.
Pool owners install the FireFighter1 adapter onto their pool’s three-way valve, which takes approximately 15 minutes and is a one-time setup.
With this quick and efficient system, homeowners can drench their property, including roofs and surrounding areas, in a matter of minutes, significantly reducing the risk of fire damage.
The product is available in two configurations: a 50-foot unit priced at $499 and a 100-foot unit priced at $399. Both units provide homeowners with a valuable tool to protect their properties during fire emergencies.
How It Went
The company’s position before Shark Tank
FireFighter1 had just launched in February 2022 when it appeared on Shark Tank, and it was in its early stages of development. At the time of the pitch, the company had generated $22,000 in sales from selling 49 units. The sales strategy involved partnerships with pool companies, which helped tap into their existing customer base of pool owners.
These partnerships included commission-based arrangements where the pool companies received a percentage of the sales. Additionally, pool stores were offered discounts on bulk purchases. The company’s founders, Bianca Wittenberg, and her late father had been the driving forces behind the product’s development. While the sales were relatively small at this stage, the Sharks acknowledged the potential impact of FireFighter1 in helping homeowners combat wildfires.
The Negotiations:
During the negotiations on Shark Tank, Bianca Wittenberg sought $150,000 in exchange for a 15% equity stake in her company, FireFighter1. She explained the importance of her product in combating wildfires and protecting properties in regions prone to fires.
The Sharks showed interest in the product and its potential, with Mark Cuban and Lori Greiner ultimately making an offer of $150,000 for a combined 25% equity in the company (12.5% each). The offer came with the understanding that it would be a long-term project and would require significant effort to educate the market and promote the product.
Bianca accepted the joint offer from Mark and Lori, expressing her commitment to the business and the mission to help people stay safe from wildfires. While some Sharks bowed out because of their limited expertise or the early stage of the business, Mark and Lori recognized the value of FireFighter1 and its potential to make a positive impact on homeowners in fire-prone areas.
