ZuGoPet Travel Products For Pets
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 27, 2019
Asking For:
$100,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
ZuGoPets presents The Rocketeer Pack, a safety harness for small pets, revolutionizing pet travel by ensuring secure and crash-tested transportation.
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Background Story
ZuGoPets, founded by Juls Bindi from Austin, Texas, and Carolyn Shewfelt from Coeur d’Alene, Idaho, emerged from a shared love for their canine companions and a deep concern for their safety during travel. Juls and Carolyn, both avid dog owners, recognized the lack of secure and crash-tested options for transporting small pets, leading them to collaborate on developing a solution. Juls Bindi, based in Austin, Texas, brought her entrepreneurial spirit and passion for pet safety to the partnership. With a background in product development and a genuine love for animals, Juls took the lead in creating a groundbreaking product that would address the safety concerns associated with transporting pets in vehicles.
On the other side, Carolyn Shewfelt, hailing from Coeur d’Alene, Idaho, shared Juls’ dedication to pet safety. Carolyn’s personal motivation stemmed from her own experiences with a dog suffering from hip and knee injuries. This firsthand encounter with the challenges of traveling with an injured pet fueled her determination to find a solution. The idea for The Rocketeer Pack was born out of necessity. Juls, having faced the limitations of existing pet transportation options, took the initiative to design a product that not only kept pets secure during travel but also passed rigorous crash tests for added safety.
The Rocketeer Pack’s development was driven by a genuine desire to create a reliable and innovative solution to a problem faced by countless pet owners. Combining their expertise, passion for pet safety, and entrepreneurial drive, Juls and Carolyn embarked on a mission to revolutionize the way people travel with their pets, ultimately introducing The Rocketeer Pack to the market as a testament to their commitment to ensuring the safety and well-being of furry family members.
The Product
The Rocketeer Pack by ZuGoPets is a cutting-edge safety harness designed to transform the way small pets travel in vehicles. Functioning as a secure and crash-tested transportation solution, the product ensures both comfort and safety for pets during car journeys. The harness features a meticulous design, allowing it to be attached to the back seat, securely Velcroing the dog in place. The process involves fastening the harness, securing the shoulders, and ensuring the dog is suspended a few inches above the seat, providing an ideal positioning to protect the spine.
The Rocketeer Pack doesn’t just prioritize safety; it also offers versatility. The product comes with front and backpack attachments, enabling pet owners to navigate busy streets with their furry companions. Priced at $160, the harness represents a commitment to pet safety, surpassing non-tested alternatives available in the market. The unique crash-test approval sets it apart, giving pet owners confidence in the reliability of the product.
For those interested in purchasing The Rocketeer Pack, it is exclusively available on the ZuGoPets website. This direct-to-consumer approach allows the founders to maintain control over the product and ensures that customers receive a genuine, high-quality safety harness. Despite the relatively higher retail price, the $36 production cost underscores the founders’ dedication to providing a premium and secure solution for pet owners.
How It Went
The company’s position before Shark Tank
ZuGoPets has exhibited commendable performance since the launch of The Rocketeer Pack in November, with current sales totaling $180,000. The company operates exclusively through its website, reaching customers in 40 different countries, tapping into the vast $80 billion pet industry. Despite the relatively high retail price of $160, the production cost stands at $36, resulting in a substantial profit margin. As of now, the founders, Juls Bindi and Carolyn Shewfelt, have not disclosed any external partnerships or wholesalers.
The sales strategy primarily revolves around direct-to-consumer channels, with the product being exclusively available on the ZuGoPets website. The founders have invested $200,000 in crash tests and production, demonstrating a significant commitment to the success of their innovative pet safety product. Funding for ZuGoPets comes from the founders themselves, with Juls Bindi taking the lead in the day-to-day operations and Carolyn Shewfelt handling fulfillment in her garage. The company’s current capital structure revolves around the initial investment of $200,000, which has been primarily directed toward crash tests, production, and building up $180,000 worth of inventory.
While the company has seen success, the episode on Shark Tank highlighted potential areas for improvement. The Sharks emphasized the need for a more robust marketing strategy, urging ZuGoPets to focus on addressing the real dangers of pet travel to enhance consumer awareness. The founders received constructive feedback, which they acknowledged and pledged to work on, showing resilience and a commitment to refining their approach. Currently structured as a direct-to-consumer business, ZuGoPets aims to continue its growth trajectory by addressing the advice provided by the Sharks and refining its marketing strategies.
The Negotiations:
The negotiation process for ZuGoPets and their product, The Rocketeer Pack, on Shark Tank unfolded with a mix of skepticism and concern from the Sharks. Juls Bindi and Carolyn Shewfelt entered the tank seeking $100,000 for a 10% stake in their pet safety business. The presentation, featuring a demonstration by Bentley, the spokesdog, initially garnered laughter and raised eyebrows from the Sharks. Despite the unconventional appearance of The Rocketeer Pack, Juls and Carolyn remained steadfast in highlighting its crash-test approval and commitment to pet safety during travel.
However, the Sharks expressed reservations about the complexity of the product and its marketing strategy. Lori Greiner and Kevin O’Leary were quick to bow out, stating that it was too early and not worth a million-dollar valuation. Mark Cuban and Robert Herjavec acknowledged the potential but urged the founders to simplify the product and enhance their marketing efforts. Ultimately, none of the Sharks made an offer, citing concerns about the product’s readiness for investment. The feedback provided centered on the need for clearer marketing addressing the real dangers of pet travel and simplifying the product for wider consumer adoption.
Despite not securing a deal, Juls and Carolyn took the feedback positively, expressing gratitude for the advice and vowing to work harder. The Sharks’ decision seemed rooted in the product’s early stage and the founders’ need to refine their approach before seeking investment. The negotiation showcased the challenges of introducing a unique product to a discerning panel, emphasizing the importance of refining both the product and its marketing strategy for future success.
