The Table Jack
NO DEAL
EPISODE SUMMARY
🕓 Air Date: October 10, 2014
Asking For:
$100,000 for 25%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Table Jacks is a stabilizer designed to eliminate wobbly tables in restaurants with a durable and efficient solution.
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Background Story
Table Jacks, founded by Steve Christian, has its roots in the bustling city of Houston, Texas. Steve Christian, with an extensive 18-year background in the restaurant industry, intimately understood a pervasive issue plaguing eateries worldwide – wobbly tables. Frustrated by the common complaint and tired of makeshift fixes, Christian embarked on an eight-year journey to develop a lasting solution. The inspiration for Table Jacks struck Christian while managing his own restaurants. The uneven concrete floors and settling wooden structures led to persistent wobbling, disrupting the dining experience.
Determined to find a comprehensive fix, Christian, armed with his years of industry experience, set out to design the ultimate stabilizer. His vision materialized into Table Jacks, a product designed to address the infuriating problem of unstable tables. The innovation lies in its simplicity and efficiency – a press of the foot by the wait staff instantly stabilizes the table, eliminating the need for time-consuming adjustments with makeshift solutions. Christian’s commitment to solving a problem he encountered daily is evident in the product’s development.
Having sold two profitable restaurants six months prior, he redirected his entrepreneurial spirit towards Table Jacks. His decision to sell the restaurants stemmed from recognizing more significant potential and value in his innovative solution. Now, with Table Jacks gaining attention not only in Houston but also from diverse locations like Phoenix, Miami, Las Vegas, and even internationally in the United Kingdom, Japan, and Guam, Steve Christian continues to pursue his vision of making wobbly tables a thing of the past for restaurants worldwide.
The Product
Table Jacks is a revolutionary stabilizer designed to solve the ubiquitous issue of wobbly tables in restaurants. The product offers a simple yet effective solution to ensure a stable dining experience for customers and ease of operation for wait staff.
Activated with a press of the foot, Table Jacks quickly stabilizes tables, eliminating the need for time-consuming adjustments or makeshift fixes. The design incorporates three stationary glides in a kit along with one Table Jack, providing stability in any direction – left, right, front, or back. This versatility ensures that the product can address wobbling issues on various types of restaurant tables.
The kit, priced at $15, is cost-efficient and easy to install. Its durability and longevity make it a worthwhile investment for restaurant owners looking to enhance the dining experience for their customers. With a manufacturing cost of $3.65, Table Jacks offers a competitive solution in the market.
Customers can purchase Table Jacks directly, and Steve Christian has been actively involved in selling the product door-to-door. The product’s popularity has reached beyond Houston, with inquiries and interest pouring in from cities across North America, the United Kingdom, Japan, and Guam, showcasing its potential to address a global need for stable restaurant tables.
How It Went
The company’s position before Shark Tank
Table Jacks has shown promising performance within its two-year existence, attaining nearly $200,000 in sales. Steve Christian’s strategic decision to sell two profitable restaurants six months ago, redirecting his focus and resources toward Table Jacks, underlines the company’s commitment to its innovative solution for wobbly tables in the restaurant industry. The company has formed key partnerships with distributors, strategically expanding its reach beyond Houston. Cities such as Phoenix, Miami, Las Vegas, and Los Angeles have embraced Table Jacks, showcasing its potential for a broad market impact.
The product’s utility patent enhances its market position, establishing a strong foundation for future growth. While the specific financial details of profits and losses weren’t disclosed, the $200,000 in sales within a two-year period indicates a healthy revenue stream. The competitive pricing of the product, with a kit costing $15 to consumers and a manufacturing cost of $3.65, contributes to the company’s profitability. Table Jacks has actively engaged in direct sales efforts, with Steve Christian personally involved in door-to-door sales.
The company has received inquiries and interest from various locations, including North America, the United Kingdom, Japan, and Guam, reflecting the global appeal of the product. In terms of funding, the company’s current financial structure was not explicitly outlined. However, Christian’s decision to sell restaurants for a profit six months ago indicates a level of financial stability and available capital.
The Negotiations:
The negotiations for Table Jacks on Shark Tank unfolded with Steve Christian seeking a $100,000 investment in exchange for a 25% equity stake in the company. While Christian presented a compelling pitch, the Sharks had reservations about the product’s market potential and scalability. Mark Cuban, the final Shark with an opportunity to invest, expressed hesitations about committing $100,000 without assurance of a substantial return. He raised concerns about the limited application of Table Jacks to specific table configurations, potentially restricting its market size.
Despite acknowledging Christian’s commendable door-to-door sales efforts, Cuban ultimately decided not to invest, citing a lack of readiness to make the commitment. Earlier in the negotiations, Kevin O’Leary proposed two potential options for Christian to consider. The first was retrofitting existing tables individually, a time-consuming and potentially impractical approach. The second option involved partnering with table manufacturers to install Table Jacks on new tables during production, with Christian receiving royalties for the patented solution. While O’Leary’s suggestions aimed at scalability, Christian did not express enthusiasm for either option.
Lori Greiner questioned the product’s adaptability to four-legged tables and emphasized the need for a broader market. She ultimately deemed the invention clever but limited in its application, leading her to opt out. Despite the Sharks recognizing the ingenuity of Table Jacks and Steve Christian’s commendable efforts in selling the product, the negotiation concluded without a deal. The Sharks collectively expressed concerns about the product’s niche market and scalability, leading to a unanimous decision to decline investment offers.
