Hoppy Paws Footprints
DEAL
EPISODE SUMMARY
🕓 Air Date: December 12, 2014
Asking For:
$50,000 for 10%
Investor:
Barbara Corcoran
Deal:
$100,000 for 49%
PRODUCT SUMMARY
Hoppy Paws offers stamping kits as a safe, simple, and inexpensive way to create magical trails for Santa, the Easter Bunny, and other characters during holidays.
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Background Story
Hoppy Paws, based in Corona del Mar, California, was founded by Trina Barkouras, a resilient entrepreneur with a remarkable background. Trina’s journey has been shaped by a challenging childhood marked by her parents’ separation when she and her brothers were very young. This adversity instilled in her a tenacity and strength that would later become instrumental in her entrepreneurial pursuits. Despite facing difficult circumstances, Trina was determined to create a loving and memorable environment for her own children.
Inspired by the desire to make their holidays extraordinary, she conceptualized an innovative idea that not only captivated her kids but also evolved into a cherished family tradition. The impetus for Hoppy Paws came from Trina’s personal experience as a dedicated mother. Following her recent separation, she found herself on her own again, viewing life’s challenges as opportunities for growth. Motivated by the belief that one can either succumb to adversity or seize the chance to succeed, Trina decided to turn her family tradition into a business venture.
In just 90 days, she transformed her idea into a tangible reality, creating Hoppy Paws stamping kits as a safe, simple, and affordable way to bring holiday magic to children everywhere. This swift turnaround showcases Trina’s entrepreneurial spirit, dedication, and resourcefulness. The product line, initially designed for Christmas, quickly expanded to include various holidays, reflecting Trina’s creative mind and commitment to providing joy to families. Hoppy Paws not only symbolizes a business venture for Trina but also represents her journey of resilience, determination, and the pursuit of creating lasting, magical moments for families around the world.
The Product
Hoppy Paws offers a unique and enchanting experience through its stamping kits, designed to create magical holiday trails for children. The kit comprises a box, a thermoform tray, and a special, biodegradable powder that is mixed with water. The process is simple and safe: users dip the stamp into the tray, which contains the powder, and then stamp away to create whimsical tracks.
The versatile product can be used on various surfaces, including carpets, and is easily cleaned up with water. The magic doesn’t stop at Christmas – Hoppy Paws has expanded its product line to include different holidays, such as Halloween and St. Patrick’s Day. For instance, Halloween-themed stamps glow in the dark at night, adding an extra layer of excitement for children.
The benefits of Hoppy Paws lie in its ability to turn ordinary spaces into extraordinary, magical landscapes, fostering joy and wonder for kids during festive seasons. The stamping kits are packaged with creativity and care, making them ideal for creating family traditions and memorable moments.
Hoppy Paws products are intended to be accessible to a wide audience, with an affordable retail price of $7.99. Trina Barkouras, the founder, is actively seeking partnerships with major retailers like Michaels, Walgreens, and Walmart to make her products widely available. The company’s commitment to quality and creativity, coupled with Trina’s passionate approach, positions Hoppy Paws as a delightful addition to holiday celebrations for families everywhere.
How It Went
The company’s position before Shark Tank
Hoppy Paws, in its early stages as a startup, has demonstrated impressive momentum and a promising trajectory. The company is currently in a healthy position, having rapidly developed its stamping kits and secured a notable presence in the market within just 90 days of inception. Partnerships play a crucial role in Hoppy Paws’ growth strategy. The founder, Trina Barkouras, has actively pursued collaborations with major retailers, targeting partnerships with industry giants like Michaels, Walgreens, and Walmart. These partnerships would significantly enhance the company’s reach, making the stamping kits easily accessible to a wide audience.
Wholesalers, an integral part of the distribution network, are key players in Hoppy Paws’ expansion. The company is likely exploring or establishing relationships with wholesalers to further scale its distribution channels. The primary customers for Hoppy Paws are families seeking to create magical holiday traditions for their children. The appeal of the product lies in its simplicity, safety, and the joy it brings to kids during festive seasons. In terms of funding, Trina Barkouras has invested $105,000 of her own capital into the company within the short span of 90 days. This investment covers various aspects such as graphic design, tooling, dies, printing, and the creation of an eye-catching trade-show booth housed in an Airstream.
The company is currently debt-free, with Trina owning 100% of the business. The company’s current structure revolves around Trina Barkouras as the sole owner. The deal negotiated with the Sharks involves a 49% stake in exchange for their investments. This partnership is expected to bring strategic guidance, financial support, and valuable connections to propel Hoppy Paws to new heights in the market. Overall, Hoppy Paws is poised for growth, leveraging its unique product, visionary founder, and strategic collaborations to establish itself as a go-to brand for festive, family-oriented celebrations.
The Negotiations:
In the negotiation for Hoppy Paws on Shark Tank, founder Trina Barkouras sought a $50,000 investment for a 10% stake in her company. Barbara Corcoran was intrigued by Trina’s dedication but expressed concerns about the unproven market demand for the product. Despite these reservations, Barbara made a distinctive offer, proposing a $100,000 investment for a 49.9%majority stake, leaving Trina with 50.1% ownership. This unique proposal demonstrated Barbara’s belief in Trina’s vision while addressing the perceived risks associated with market validation.
Other Sharks, including Mark Cuban, expressed skepticism about the market demand, but Barbara’s unconventional offer stood out. Trina, recognizing the potential of partnering with Barbara, accepted the deal. This negotiation not only secured the needed investment for Hoppy Paws but also established a strategic partnership with Barbara, a seasoned entrepreneur and investor. During the negotiation, Barbara additionally committed to providing a line of credit to support Hoppy Paws in fulfilling large purchase orders. The terms of the deal reflected Barbara’s confidence in Trina’s ability to navigate the market successfully, despite the challenges posed by the product’s novelty.
While other Sharks did not participate in the deal, the negotiation showcased the Sharks’ acknowledgment of Trina’s rapid progress in transforming her idea into a tangible business within a short timeframe. The agreement addressed Hoppy Paws’ financial needs and provided valuable mentorship and support, setting the stage for the company’s growth and success in the holiday-themed product market. Overall, the negotiations culminated in a unique and mutually beneficial agreement that combined financial backing with strategic guidance.
