Spretz – Breath and Hand Freshener
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 8, 2016
Asking For:
$100,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Spretz is an all-natural, two-in-one spray product that freshens both breath and hands simultaneously.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
The founders, Tony Gauthier, Scott Hoag, and Wesley Osaze, came up with the idea for Spretz when Tony, hosting an event, needed to freshen up but had only a piece of gum. The unconventional method of using gum to freshen hands sparked the idea for a product that could address both breath and hand odor. Spretz aims to provide a convenient and efficient solution for people on the go. The founders emphasized their passion and dedication, with Tony expressing a personal connection by mentioning the recent loss of his mother.
The Product
Spretz is an innovative two-in-one spray designed to freshen both breath and hands. The founders presented the product during the pitch, showcasing its flagship flavors, Cinna-Mint and Peppermint. They demonstrated its use by spraying it in the mouth and on the hands, emphasizing its powerful and refreshing qualities.
The product is positioned as an alternative to carrying multiple items like gum, lotions, and sanitizers. The packaging underwent an initial iteration, and the founders acknowledged the need to convey that the spray can be used for both breath and hands in the next design.
How It Went
The company’s position before Shark Tank
Spretz had sold close to 1,000 units at a price of $3.95 each in the two months leading up to the pitch, totaling approximately $3,500 in sales. The sales strategy involved face-to-face interactions and word of mouth, with the founders claiming purchase orders from stores and a major hotel. They highlighted the early success without significant marketing or promotion. The founders sought a $100,000 investment to scale the business and overcome the challenges of entering the retail space, recognizing it as an expensive and competitive market.
The Negotiations:
The Sharks expressed concerns about the viability of the product and the challenges of marketing a new category. Mark Cuban and Kevin O’Leary were quick to opt out, citing the need for substantial funding for marketing and distribution. Barbara Corcoran appreciated the passion but also opted out, emphasizing the product’s niche appeal. Lori Greiner acknowledged the product’s effectiveness but questioned the widespread need for a combined breath and hand freshener.
Daymond John expressed reservations about the product’s fit in the market, and Robert Herjavec was concerned about the challenges of educating consumers. In the end, no deal was made, and the founders left without securing an investment. Despite the rejection, the founders remained positive, appreciating the feedback and the Sharks’ acknowledgment that the product worked.
