Noggin Boss Hats
DEAL
EPISODE SUMMARY
🕓 Air Date: March 11, 2022
Asking For:
$50,000 for 25%
Investor:
Daymond John
Deal:
$50,000 for 30%
PRODUCT SUMMARY
NOGGIN Boss offers fully customizable high-quality hats for sports fans and enthusiasts to promote their favorite teams, charities, events, businesses, or causes.
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Background Story
Gabe and Sean, the founders of NOGGIN Boss, are based in Phoenix, Arizona, a bustling hub for sports enthusiasts and events. Both individuals share a deep-rooted passion for sports, which inspired their entrepreneurial journey. Gabe, with a background in event management and a keen eye for identifying market trends, recognized a gap in the sports and promotional apparel industry. His expertise in understanding consumer preferences and event dynamics provided a solid foundation for the business’s inception.
On the other hand, Sean brings a creative edge to the team, with a knack for innovative designs and branding strategies. His previous experience in graphic design and marketing enabled them to create a product that seamlessly combined functionality with aesthetic appeal. The synergy between Gabe’s business acumen and Sean’s creative flair laid the groundwork for the development of NOGGIN Boss.
The initial spark for their customizable hat idea emerged during a Best Dressed golfer’s competition, where Gabe sported a notably large hat that attracted significant attention. Encouraged by the positive response, they ventured into creating prototypes and testing them at various events. The overwhelming enthusiasm and interest they received further solidified their belief in the potential of their product. Driven by their shared passion for sports and the desire to innovate in the promotional apparel space, Gabe and Sean launched NOGGIN Boss in February 2020, marking the beginning of their journey to revolutionize the way fans express their team spirit.
The Product
NOGGIN Boss offers a revolutionary approach to showcasing team spirit and promoting various causes through their high-quality, fully customizable hats. Crafted with top-of-the-line materials, these hats ensure a comfortable and stylish fit for wearers of all ages, from kids to adults with larger heads. The hats can be tailored to display logos, team names, slogans, or any preferred designs, making them a versatile choice for fans, businesses, charities, and event organizers.
The product’s appeal lies in its ability to serve as a dynamic promotional tool, enabling individuals to proudly represent their favorite teams, support charitable initiatives, or promote their businesses with a personalized touch. Priced at $65 for retail, with occasional event sales exceeding $100 and charity auctions fetching over $1,000, the hats offer a premium yet accessible option for enthusiastic supporters and organizations alike. They have proven to be social media magnets, attracting attention from both players and fans, creating memorable moments at sporting events and garnering visibility on Jumbotrons.
Available for purchase through their website and at various events, NOGGIN Boss hats provide a unique way for individuals and organizations to unite and express their passion while making a statement in the realm of sports and promotional apparel. With their customizable and high-quality features, NOGGIN Boss hats serve as a powerful medium for fostering connections, brand promotion, and fostering a sense of community among sports enthusiasts and supporters.
How It Went
The company’s position before Shark Tank
NOGGIN Boss has demonstrated commendable resilience and growth, despite facing initial supply chain challenges and the disruptions caused by the global pandemic. The company’s strategic initiatives and strong industry connections have propelled it to secure partnerships with both promotional and licensed teams, positioning it as a prominent player in the sports apparel market.
With $30,000 in sales within the first four months of operation, NOGGIN Boss has proven its product’s appeal and market demand, underscoring its potential for further expansion. Their partners include notable sports teams and event organizers, leveraging these associations to gain significant exposure and recognition at high-profile events like the NFL draft and the NBA Finals. These partnerships have solidified their brand’s position in the industry, enhancing their credibility and market visibility.
The company’s current structure involves a robust local production setup equipped with proprietary equipment, allowing them to maintain quality control and facilitate customization swiftly. They have strategically streamlined their manufacturing logistics, enabling them to meet the growing demand for their customizable hats efficiently. With a clear focus on customer satisfaction and brand promotion, NOGGIN Boss is well-positioned to capitalize on its success and continue its upward trajectory in the sports apparel market.
The Negotiations:
During the “Shark Tank” negotiations, Gabe and Sean emphasized their urgent need for a strategic partner well-versed in navigating the complexities of licensing agreements, crucial for their plans to fulfill the high demand for licensed logos. As they presented their business proposition, the Sharks were intrigued by the company’s potential and unique product offering. Daymond John swiftly offered $50,000 for a 30% stake, recognizing the value in their brand and the potential for accelerated growth with his expertise and industry connections.
Mark Cuban, displaying enthusiasm for the product and recognizing its market appeal, expressed interest in supporting the company by facilitating sales through the Dallas Mavericks’ merchandise store.As the negotiations unfolded, Gabe and Sean carefully considered the offers on the table, aiming to secure a deal that not only provided the necessary funding but also brought valuable expertise and market access. While other Sharks, such as Barbara Corcoran and Kevin O’Leary, opted out, the compelling value proposition and the potential for rapid growth remained at the forefront of the discussion.
Ultimately, Gabe and Sean accepted Daymond John’s offer, recognizing the substantial benefits of his industry knowledge and experience in navigating licensing agreements. The deal was finalized, marking a pivotal moment for NOGGIN Boss as they set their sights on leveraging this partnership to expand their market presence and solidify their position in the sports apparel industry.
