The Uro Club
This episode has been quite the one for gag items and the Uro Club just keeps that ball rolling. This company, from Aventura, FL, was started by a urologist and makes a fake golf club.
(Sometimes, your Stats Shark can't believe he has to write these things. Sigh...)
This golf club looks like a 7 iron but with a wider grip. Why? Because it's there to allow someone to relive their bladder while on the course! No. Really. You can piss into the golf club. So don't, you know, try to hit a ball with it or it might end... badly...
Despite being one of the more bizarre ideas ever, the entrepreneur states that The Uro Club has sold over 3,000 units at $24.95 a piece. This was undoubtedly helped by the fact that the entrepreneur made and aired a local informercial.
Naturally, The Uro Club is both trademarked and patented because when the founding fathers imagined a patent system, this is without a doubt what they had in mind. The useful arts and sciences.
Despite the entrepreneur having invested $300,000 into this idea, he appeared in the tank offering 51% equity in the business in exchange for just $25,000. Though sharks often take a controlling share in the business in these early seasons, people rarely offer it off the bat.[1]
Kevin Harrington found the idea and the execution good enough but not quite the amount of equity and offered the entrepreneur the same $25,000 in exchange for 70% of the business! Because the company was only valued at $49,020 originally, this only resulted in a bite of $13,305 but it's still pretty sharky to snap up that much equity, especially for such a low amount.
For all intents and purposes, this entrepreneur now gets a 30% royalty on a product he developed and originally brought to market. Sure, it might be a golf club someone can pee into but... still...
Notes
- ↑ In fact, in all of Shark Tank, up until Season Eleven, only five companies have ever offered a controlling share: My Cold Snap in Season Four that was essentially looking for a buyout (but left without a deal), Boogie Box Fitness from this season that offered 70%, then Qubits and Litter, both for 51% from this season and Season Three.