Brazyn Life Morph – Collapsible Foam Roller
DEAL
EPISODE SUMMARY
🕓 Air Date: October 29, 2017
Asking For:
$225,000 for 10%
Investor:
Lori Greiner, Sara Blakely (50/50)
Deal:
$250,000 for 20%
PRODUCT SUMMARY
Brazyn Life presents the Morph, the world's first collapsible foam roller designed for portability and convenience in muscle recovery.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
Nate Lawrie, a former NFL player, and his business partner Tom Hopkins from Santa Barbara, California, pitched Brazyn Life on Shark Tank. Nate’s experience in professional football led him to discover the benefits of foam rolling for muscle recovery. However, traditional foam rollers were bulky and inconvenient for travel. Nate, dealing with a back injury during his NFL career, decided to create a solution.
The idea for Morp, the collapsible foam roller, was born out of Nate’s personal need for a portable and effective muscle recovery tool. After recovering from spine surgery, Nate was devoted to finding a travel-friendly foam roller. He designed a rudimentary prototype in his garage, and when it withstood his weight and pressure, he realized the opportunity to create something unique.
The Product
The Morp is the world’s first collapsible foam roller, designed for ease of use and portability. It features a patented surface texture that effectively releases knots and flushes toxins from muscles.
The collapsible design allows users to pull it out of a backpack, carry-on, or gym bag, pop it open for use, and then collapse it back down when done.
The product’s unique feature is its portability, making it convenient for individuals who need muscle recovery on the go. The Morp has removable, washable sleeves, enhancing its hygiene and longevity.
How It Went
The company’s position before Shark Tank
Brazyn Life has positioned itself as a promising venture, projecting $2.4 million in sales over the next 12 months with a 20% net profit. The product is currently priced at $68, with production costs at $26.75 for the first run. Despite the initial production cost, the founders expressed confidence in reducing it to around $20 in the coming year. The company is already profitable, with $50,000 in sales for the current month.
Nate and Tom highlight their strategic plans, aiming to tap into Amazon, a major distributor of foam rollers. They manufacture the Morp in Romania, leveraging Nate’s family connection to a precision parts manufacturing company. The Morp’s patent-pending status in multiple countries adds a layer of protection to the innovative design. The founders seek a Shark’s involvement not just for the capital but also for the name value and expertise to accelerate the company’s growth.
The Negotiations:
Nate and Tom entered the tank seeking $225,000 for 10% equity. The Sharks expressed interest in the unique product but raised concerns about the current valuation. Lori Greiner and Sara Blakely ultimately secured a deal offering $250,000 for 20% equity. This deal was a counter to Kevin O’Leary and Daymond John’s offer of the same amount for the same equity stake.
The negotiation took an unexpected turn when Lori and Sara made a counter-proposal to increase the investment to $250,000, with the same equity. Despite Kevin’s willingness to accept the counter-proposal, Nate and Tom chose to go with the Sharkettes (Lori and Sara) at $250,000 for 20% equity. The decision was influenced by the appeal of having two powerful businesswomen as partners and the added value they could bring to the table.
