Rescue Ready – Emergency Escape Ladder
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 13, 2020
Asking For:
$75,000 for 15%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Rescue Ready is an emergency escape ladder system integrated into window frames, providing a quick and safe evacuation solution during house fires.
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Background Story
Eric Hartsfield and Brett Russell, both firefighters from Norfolk, Virginia, witnessed the dire consequences families faced without a quick and safe escape during house fires. Motivated by their experiences, they founded Rescue Ready to address this critical issue. Recognizing the dangers posed by synthetic materials in modern buildings, they created an integrated emergency escape ladder system that offers a practical means of evacuation, already connected where needed most.
The Product
Rescue Ready is an innovative emergency escape ladder system designed to enhance home safety during fires. Integrated into the frame of the window and anchored to the structural components of the house, the system allows for a quick and efficient evacuation.
To use Rescue Ready, users simply need to raise the window, remove the cover, take out the ladder, remove the strap, and throw. The entire process takes seconds, making it accessible even for children.
The product’s design takes into consideration the challenges faced during real house fires, including scorching flames, dark smoke, and toxic gases. With the increased use of synthetic materials in construction, fires now burn hotter and faster than ever, emphasizing the need for a reliable escape solution.
Rescue Ready operates on a licensing model, targeting new construction for optimal integration. The founders aim to collaborate with window manufacturers to incorporate their system, with a proposed increase of $90 per window.
Despite recognizing potential challenges in convincing builders to adopt the system, the founders believe that marketing it as an optional, life-saving feature could encourage adoption.
How It Went
The company’s position before Shark Tank
Rescue Ready is positioned as a licensing play, focusing on collaborations with window manufacturers for new construction projects. As of the pitch, the company had not started selling the product and was cautious about approaching builders due to patent concerns.
The founders acknowledge that their venture is a long-term commitment, considering the traditional practices deeply embedded in the residential construction industry. They propose a 6% royalty for the use of their patented system, emphasizing the potential benefits for manufacturers who market windows with built-in emergency escape features.
The Negotiations:
The negotiation with the Sharks encountered skepticism, particularly regarding the feasibility of convincing window manufacturers to alter their established practices. The Sharks expressed concerns about the added cost to the windows and the reluctance of builders to prioritize such safety features.
While the founders remained confident in the value of their product, the Sharks ultimately opted not to invest. The challenges presented by the industry’s resistance to change and the perceived lack of immediate upside for window manufacturers led to the rejection of Rescue Ready’s pitch. The Sharks appreciated the founders’ dedication but deemed the venture too challenging for their investment preferences.
