This might be one of your Stats Shark's favorite Shark Tank products of all time because of just how silly the dogs look in these things. We don't often do this here at Stats For Sharks, but just take a minute to watch one of their promotional videos:
So... yeah... Coyotevest is a company from San Diego, CA, that makes "body armor" for dogs to "dissuade" coyotes and birds of prey from attacking small dogs. They've somehow managed to merge the design aesthetic of Mad Max to Madonna (not that they were ever too far off to begin with) and then wrap it around a dog. The entrepreneurs behind the Coyotevest, sadly, were inspired to create this marvelous invention because they lost a dog to a coyote snatching.
But, with the Coyotevest, the idea is that the metal spikes instantly stop of predator from attacking any further. And the waving plastic help make the whole prospect look intimidating from afar so they never even get too close. The entrepreneurs say that the Coyotevest even works against other aggressive dogs.
Interestingly, the Coyotevest actually has sales! In the 2.5 year lifespan of the product, the company has made $570,000 in sales, $260,000 in the year in which the deal was filmed alone, all of them direct to consumer through their website. Each Coyotevest costs $30 per unit to manufacture at their own factory in the United States and retails for $120. The entrepreneurs even claim to have a patent.
Kevin suggests that the vest should light up and be electric and the entrepreneurs demonstrate that they have already created an electric version, demonstrating on Robert by shocking him. Daymond asks whether the entrepreneurs want to keep producing it themselves or whether they'd be open to licensing, though this question is never answered.
Mark is the first to leave the deal, stating that he thinks there would be issues with child safety. Kevin says that, with the current levels of revenue, he doesn't see room for an investor and also drops out. For Lori, the product just doesn't resonate and she exits as well.
Robert says that he likes the idea but just doesn't see how he can invest in it and drops out.
Last, Daymond states that the entrepreneurs haven't yet gotten it into retail yet and that, in order to, there are still just too many hurdles to overcome. He then drops out as well and, tragically, the entrepreneurs behind the Coyotevest go home without a deal.