MountainFlow Eco-Wax
DEAL
EPISODE SUMMARY
🕓 Air Date: February 5, 2021
Asking For:
$250,000 for 10%
Investor:
Kevin O'Leary, Barbara Corcoran (50/50)
Deal:
$300,000 for 20%
PRODUCT SUMMARY
mountainFLOW Eco-Wax is a plant-based, biodegradable ski and snowboard wax that offers the same performance as conventional petroleum-based waxes while being environmentally friendly.
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Background Story
Peter Arlein, the founder of mountainFLOW Eco-Wax, hails from Carbondale, Colorado, a picturesque location nestled in the Rocky Mountains. As an avid skier, Peter recognized a pressing issue within the skiing community – the pervasive use of petroleum-based ski waxes, which not only harm the environment but also contaminate drinking water sources as they melt into the snowpack. Determined to find a sustainable solution, Peter embarked on a mission to create a superior alternative.
With a background in skiing and a passion for the environment, Peter set out to develop a plant-based, biodegradable ski and snowboard wax that would rival the performance of traditional petroleum-based waxes. After rigorous testing and the development of a patent-pending formula, mountainFLOW was born. Peter’s dedication to preserving the pristine mountain environment led him to assemble a team of world-champion skiers and snowboarders who enthusiastically embraced his eco-friendly wax.
The Product
mountainFLOW Eco-Wax is a revolutionary solution for winter sports enthusiasts seeking an environmentally responsible way to maintain their ski and snowboard equipment. The product is easy to use, mirroring the application process of conventional waxes.
Users simply drip the plant-based wax onto their ski or snowboard base, then use an iron to evenly distribute it. Once cooled, the equipment is ready for the slopes. What sets mountainFLOW apart is its eco-friendly composition, which eliminates the need for petroleum-based waxes that can harm the environment.
The biodegradable formula ensures that any residue left in the snowpack poses no threat to natural ecosystems or drinking water sources. Furthermore, extensive testing has demonstrated that mountainFLOW Eco-Wax performs just as well as, if not better than, traditional waxes, making it a preferred choice for environmentally conscious skiers and snowboarders.
How It Went
The company’s position before Shark Tank
mountainFLOW Eco-Wax has demonstrated impressive growth in recent years. In the year prior to the Shark Tank appearance, the company achieved $150,000 in sales. Projections for the current year anticipate a substantial increase, with expectations of reaching $750,000 in revenue. This growth can be attributed to the company’s expanding customer base and its innovative approach to ski and snowboard waxing.
The company targets both the direct-to-consumer market and ski shops, capitalizing on the popularity of winter sports in regions like Carbondale, Colorado, and other ski-centric areas. With approximately 10 ski shops on a typical street in a ski town, mountainFLOW has a significant retail presence. They also offer a quick wax product for consumers who prefer a simpler application method.
The Negotiations:
Peter Arlein entered the Shark Tank seeking $250,000 for a 10% equity stake in mountainFLOW Eco-Wax, a plant-based alternative to petroleum-based ski and snowboard waxes. After presenting the eco-friendly benefits of his product and sharing the company’s impressive growth, the Sharks started making offers. Lori Greiner and Daymond John, who both lacked skiing experience, opted out of the deal.
Barbara Corcoran and Kevin O’Leary expressed their interest, offering $250,000 for 20% equity. However, Peter hesitated due to the high equity stake. Mark Cuban, who had initially seemed uninterested, surprised everyone with an offer of $250,000 for 25% equity, conditional on bringing in skiing legend Lindsey Vonn as an owner. Peter declined this offer, feeling it was too much equity to give away.
Barbara and Kevin then sweetened their offer, increasing the investment to $300,000 for 20% equity, which Peter accepted. The deal was finalized with the two Sharks, providing mountainFLOW Eco-Wax with the funding and expertise needed to further expand their
