Aquapaw
Aquapaw is a company from San Jose, CA, that is trying to make washing pets easier on humans and better for the animals. They have invented a new type of hose nozzle that attaches to either shower or garden hoses and can be activated with a simple squeeze of the hand.
Once activated, the Aquapaw will release a stream of water to wash a pet with. The nozzle also features a scrubbing section that sits in the palm of the human's hand so that pet owners can essentially wash their animals one handed.
The Aquapaw is manufactured for $5.25 per unit and wholesales for $12.50. The retail price is $29.99 per item. The entrepreneurs believe that they can lower the manufacturing costs to $4.50 with refinement and scale.
The majority of their sales have been either direct to consumer through their website or on Uncommon Goods, however they are in talks with Petco and other retailers. They do not have any deals in hand yet as the entrepreneurs stated that these retailers are waiting to see how it sells through their existing channels.
In terms of fundraising, in the previous year, the Aquapaw raised $42,000 in a Kickstarter Campaign.
The Aquapaw is protected by a utility patent and an international version of that patent has been filed.
While the Aquapaw is currently their only product, the entrepreneurs described plans to expand their product line to include automatic soap dispensers, brushes, and more.
Even guest shark Bethenny Frankel said that she believed from the design of the packaging that the killer feature of the Aquapaw was the ability to click the water on and off through a click of the user's hand.
Robert almost immediately makes an offer for the requested $200,000 for 25%. Bethenny also makes an offer, for 30%, but adds that she and her dogs should be the face of the business and wants to have her mug on the packaging.
Daymond also makes an offer but clarifies that he would not be a spokesperson. He would provide back office support and business connections only. He had previously stated that the pet business was difficult, not so much people people won't buy new things for their pets (they will and in great number) but that there's a significant marketing push required to make people aware of new products.
Lori dropped out of the deal altogether after stating that the product wasn't unique enough in her mind. Mark likewise drops out, stating that he hates the pet accessory business.
The entrepreneurs attempted to get Bethenny, Daymond, and Robert to collaborate on a deal but this ends up just making Robert drop out. When they attempt to get Daymond down to 20% equity, Bethenny dropped out. When Daymond refused to bring his equity ask down to 20% it ended up being the entrepreneurs who walked away, stating that they couldn't do a deal with him for that large a percentage of the business.
This deal appeared in Episode 10.10.