TurboPup Complete Meal Bar For Dogs
DEAL
EPISODE SUMMARY
🕓 Air Date: January 16, 2015
Asking For:
$100,000 for 20%
Investor:
Daymond John
Deal:
$100,000 for 35%
PRODUCT SUMMARY
TurboPUP offers complete canine meal bars made with 100% American-sourced, human-grade, all-natural, and grain-free ingredients, designed to sustain dogs' energy levels during outdoor activities.
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Background Story
Kristina Guerrero, along with her dog Odin, emerged onto the Shark Tank stage from La Pine, Oregon, seeking a $100,000 investment for a 20% stake in their company, TurboPUP. Kristina’s journey to entrepreneurship is rooted in her distinguished military career and a profound love for her four-legged companion. A United States Air Force Academy graduate, Kristina’s background includes flying C-130s and serving in three deployments, earning her two Combat Air Medals. However, it was during a backcountry skiing trip with Odin that the inspiration for TurboPUP struck.
Eight miles up a mountain, faced with a lack of suitable dog food, Kristina experienced a light-bulb moment. She realized the need for a convenient and nutritious solution for dog nutrition during outdoor activities. Back home, in her kitchen, Kristina handcrafted the first TurboPUP bars, focusing on premium, American-sourced, human-grade, grain-free ingredients. The bars were designed not just as treats but as complete meal replacements for dogs, providing sustenance and energy during various adventures.
The idea took off, and TurboPUP bars became Kristina’s mission to revolutionize dog nutrition. TurboPUP’s roots in La Pine, Oregon, highlight a commitment to outdoor living and adventure, reflecting Kristina’s own experiences. The company’s evolution from a kitchen project to the official dog food for the National Association for Search and Rescue showcases the brand’s credibility and commitment to quality. Kristina’s background in military discipline and her innovative approach to dog nutrition have laid the foundation for TurboPUP’s success.
The Product
TurboPUP offers a revolutionary solution to canine nutrition with its complete canine meal bars. Crafted with meticulous care, each bar contains 100% American-sourced, human-grade, all-natural, and grain-free ingredients. These bars are more than just treats; they are designed as complete meals for dogs, especially tailored for those engaging in outdoor activities.
Weighing in at 250 calories per bar, TurboPUP provides a compact, portable, and convenient way to nourish dogs on the go. The bars are safe for sensitive stomachs and interchangeable with regular dog food, making them versatile for various dietary needs. The premium quality of ingredients ensures the bars are not only delicious but also nutritious.
TurboPUP bars are particularly beneficial for dog owners who enjoy outdoor adventures, such as hiking, skiing, traveling, or any activity where carrying bulky bags of dog food might be impractical. The bars sustain dogs’ energy levels during these activities, making them ideal companions for the canine sidekicks.
This pricing structure allows dog owners to choose the quantity that best fits their needs, whether for a short outing or an extended adventure. The product’s versatility, nutritional value, and convenience make TurboPUP bars a standout choice for dog owners seeking a premium solution to their pets’ dietary requirements.
How It Went
The company’s position before Shark Tank
TurboPUP, founded in May 2013, has charted a compelling trajectory despite being a relatively young player in the market. The company’s initial sales of $4,000 signaled the promising potential of its unique product. Fast forward to the present, TurboPUP has achieved $7,000 in sales, showcasing steady growth. The strategic approach of TurboPUP has been to tap into outdoor stores rather than the saturated pet market.
With approximately 30 retailers on board, TurboPUP has positioned itself as the official dog food for the National Association for Search and Rescue, a significant endorsement for the brand’s quality and suitability for outdoor adventures. Negotiations with larger retailers are underway, indicating the company’s ambitions for expansion. In terms of funding, TurboPUP’s journey began with founder Kristina Guerrero crafting the bars in her kitchen. The company’s resilience and success garnered attention on the Shark Tank stage, resulting in a deal with Daymond John, who invested $100,000 for a 35% stake.
This infusion of capital will undoubtedly fuel TurboPUP’s growth, allowing for increased production, marketing efforts, and potential collaborations. While specific profit and loss figures were not disclosed during the pitch, TurboPUP’s steady sales growth and strategic partnerships position it for continued success. The company’s structure, led by Kristina Guerrero as a one-woman show, highlights her dedication and capability in managing operations effectively. The collaboration with Daymond John is expected to bring valuable insights and resources, further enhancing TurboPUP’s market position and overall health in the competitive pet industry.
The Negotiations:
The negotiations for TurboPUP on Shark Tank unfolded with Kristina Guerrero seeking a $100,000 investment for a 20% stake in her company. The initial offers came from Daymond John, who proposed $100,000 for a steep 40% equity stake. While acknowledging the company’s potential, he emphasized the need for a larger share due to the high asking valuation. As the negotiations progressed, Kristina counteroffered at a 35% equity stake, finding a middle ground between Daymond’s initial offer and her original ask.
This offer was accepted by Daymond, culminating in a deal that involved a $100,000 investment for a 35% stake in TurboPUP. The negotiation dynamics highlighted the challenges faced by Kristina in convincing the sharks of her company’s valuation. Daymond, recognizing the potential and Kristina’s discipline, agreed to a slightly higher equity share, ensuring his commitment to TurboPUP’s growth.
The deal struck marked a strategic partnership between Kristina and Daymond John, bringing not only the needed capital but also the expertise and network of a seasoned entrepreneur. The negotiation process showcased Kristina’s determination, Daymond’s willingness to invest in a promising venture, and the collaborative spirit necessary for a successful partnership. The deal closed with Kristina securing the required investment to propel TurboPUP to new heights in the competitive pet industry.
