In episode 621 of Shark Tank, Avin Samtani, Rob Peck, and Jonathan Kinas pitched AquaVault, a portable outdoor safe. The AquaVault is a locking plastic case that can hold valuables like wallets, phones, and keys. The lid locks with a combination lock and can be mounted on poles or posts. The team was seeking $75,000 for 12% equity in their company.
- AquaVault is a portable outdoor safe pitched on Shark Tank.
- It is a locking plastic case designed to hold valuables.
- The AquaVault lid locks with a combination lock and can be mounted on poles or posts.
- The team was seeking $75,000 for 12% equity in their company.
During their pitch on Shark Tank, Avin Samtani, Rob Peck, and Jonathan Kinas showcased the AquaVault and demonstrated its utility for beachgoers.
“The AquaVault is your portable outdoor safe, designed to keep your valuables secure while you enjoy the beach,” they explained.
With $87,000 in sales within just six months, AquaVault has already gained significant traction in the market. They offer the AquaVault at a wholesale price of $22, making it an affordable and effective solution for consumers.
AquaVault’s Product Demonstration
The AquaVault pitch included a product demonstration that showcased the functionality and ease of use of their portable safe.
“Watch as we securely lock valuables such as wallets, phones, and keys inside the AquaVault,” Avin, Rob, and Jonathan emphasized.
By demonstrating the AquaVault in action, the entrepreneurs effectively conveyed its practicality and value to potential investors and customers.
AquaVault’s Sales and Business Model
Within their first six months of operation, AquaVault has already achieved impressive sales figures. Their sales strategy involves both direct-to-consumer and wholesale channels.
- Direct-to-Consumer: AquaVault sells their product directly to consumers through their website and other online platforms.
- Wholesale: AquaVault has successfully established partnerships with hotels, resorts, and cruise ships, offering bulk sales to these establishments.
This dual business model allows AquaVault to reach a wide range of customers, from individual beachgoers to large hospitality organizations.
“We have secured a contract for an additional 1,000 units, solidifying our presence in the hospitality industry,” Avin, Rob, and Jonathan proudly shared.
AquaVault Sales Breakdown
By diversifying their sales approach, AquaVault has generated substantial revenue and established a strong market presence.
Shark Tank Offers
When the Sharks learned about AquaVault on Shark Tank, they couldn’t help but see the potential in this innovative product. Two investors, in particular, made compelling offers to the AquaVault team.
“Why not give the product to hotels for free in exchange for a share in the recurring revenue?” suggested Robert.
Impressed by the offer, Daymond stepped up with a different proposal. He offered $75,000 for a 25% equity stake in AquaVault, valuing the company at $300,000.
|Product placement in hotels for recurring revenue share
Recognizing the potential for growth and the opportunity to partner with Daymond, the AquaVault team accepted his offer, sealing the deal. The valuation of $300,000 reflects the Sharks’ confidence in the product and its future success.
AquaVault Post-Show Success
After their appearance on Shark Tank, AquaVault experienced remarkable post-show success. They successfully closed a deal with Daymond John, one of the prominent investors on the show. Beyond the Tank, a follow-up program showcasing the progress of Shark Tank entrepreneurs, featured AquaVault in an update segment, further boosting their visibility and credibility.
AquaVault capitalized on their newfound exposure by introducing innovative new products to their lineup. They expanded their offerings to include the Flexsafe, a water-resistant safe, and the Flexsafe mini, a waterproof phone case. These new products catered to a wider range of customer needs, solidifying AquaVault’s position as a leading provider of portable security solutions.
With their expanding product range and strong market presence, AquaVault forged partnerships with over 200 hotels. The AquaVault products are now available for rental at these hotels, offering guests peace of mind and enhanced security during their stays. This strategic move not only provided an additional revenue stream for AquaVault but also increased brand awareness among travelers and vacationers.
The AquaVault team’s relentless dedication and commitment have paid off, resulting in impressive sales growth. Their lifetime sales have reached an astounding $26.5 million, a testament to the market demand for their products and the effectiveness of their business strategies.
AquaVault Sales Growth
Impact of the COVID-19 Pandemic
The COVID-19 pandemic had a significant impact on AquaVault’s business. With travel restrictions and closures of hotels and resorts, their hotel and travel-related sales dried up. The company faced a challenging time as demand for their outdoor safe products plummeted. However, AquaVault quickly recognized the need to adapt and find new opportunities in the changing market.
Amidst the uncertainties, AquaVault made a bold move by pivoting their product line to address the evolving needs of consumers during the pandemic. They introduced the Charge Card, a credit card-sized phone charger, as a response to the increased reliance on technology while traveling. This innovative product allowed individuals to conveniently charge their devices on the go, providing a solution to a common problem.
The pivot proved to be a game-changer for AquaVault. While their traditional sales declined, the Charge Card gained traction and popularity among consumers seeking portable charging solutions. The product’s compact design, coupled with its functionality, resonated well with the market.
The Success of the Product Pivot
The AquaVault team’s strategic decision to diversify their product offering paid off. The Charge Card became a sought-after item, positioning AquaVault as a versatile and adaptive brand in the consumer electronics market. The new product’s success not only cushioned the initial sales decline but also opened up a new revenue stream for the company.
In August 2021, AquaVault closed a stock sale valued at over $1 million. This remarkable achievement not only demonstrated the company’s resilience during challenging times but also solidified their position as a leading innovator in the industry.
“By identifying and responding to the changing needs of our customers, AquaVault was able to navigate the uncertainties brought about by the COVID-19 pandemic. The success of the Charge Card exemplifies our commitment to providing innovative solutions that enhance convenience and security in people’s lives.” – Avin Samtani, CEO of AquaVault
Through their ability to adapt and innovate, AquaVault weathered the storm caused by the pandemic and emerged stronger than ever. The company’s agile response to market dynamics showcases their commitment to meeting customer demands and maintaining relevance in a rapidly changing world.
AquaVault on Shark Tank Blog
AquaVault, the innovative outdoor safe, has gained recognition and attention on the Shark Tank Blog. This popular platform provides updates and follow-ups on entrepreneurs who have appeared on the show, including AquaVault. The blog has reviewed AquaVault, highlighting its exceptional outdoor safe and providing valuable insights into the company’s achievements.
One of the noteworthy aspects discussed on the Shark Tank Blog is AquaVault’s dedication to designing products that enhance security and convenience for consumers. The blog provides a comprehensive analysis of AquaVault’s outdoor safe, showcasing its features and benefits. This review helps potential customers gain a deeper understanding of AquaVault’s products and their value proposition.
To further enhance user experience, AquaVault’s products can be conveniently purchased through their website. Customers have the option to explore a wide range of products, including the original AquaVault, the Flexsafe, and the Flexsafe mini. AquaVault’s commitment to providing high-quality products that meet the needs of outdoor enthusiasts is evident in the positive reviews they have received.
AquaVault also maintains a strong presence on various social media platforms, allowing customers to stay updated on the latest product releases, promotions, and company news. This engagement with customers reflects AquaVault’s dedication to building a supportive and interactive community.
“AquaVault’s outdoor safe has revolutionized the way we protect our valuables while enjoying outdoor activities. It’s a must-have for any beachgoer!” – Sarah, AquaVault customer
“I stumbled upon AquaVault’s products after reading about their success on Shark Tank. The quality and functionality of their outdoor safe exceeded my expectations. Highly recommend!” – David, AquaVault customer
Overall, AquaVault’s presence on the Shark Tank Blog, positive customer reviews, and commitment to providing innovative and secure outdoor solutions contribute to their continued success and market presence.
AquaVault’s Impact on the Market
AquaVault has made a significant impact on the market with its innovative outdoor safe. The AquaVault team’s dedication to providing a secure solution for valuables at the beach has resonated with consumers and businesses alike.
Their market presence has been further strengthened through strategic partnerships with renowned hotels and resorts, including major brands such as Marriott, Disney, and Hilton. These partnerships have not only enhanced AquaVault’s visibility but also solidified its reputation as a trusted provider of safekeeping solutions.
Beach-goers and vacationers now view AquaVault’s products as essential equipment for a worry-free experience. By offering a convenient and reliable way to safeguard personal belongings, AquaVault has positioned itself as a must-have item for anyone looking to enjoy outdoor activities without the fear of theft or loss.
Through their commitment to excellence and continuous innovation, AquaVault has earned the trust and loyalty of customers worldwide. Their impact on the market is testament to the value and utility they bring to individuals and businesses seeking peace of mind during their leisure time.
Partnerships with Major Hotel Brands
|Available in over 100 Marriott properties worldwide
|Partnered with select Disney resorts, ensuring guest satisfaction
|Installed across Hilton properties to enhance customer experience
“AquaVault’s partnerships with major hotel brands have been instrumental in expanding their market reach and establishing their products as industry standards.” – Hotel Industry Expert
AquaVault’s impact on the market is not limited to beach destinations or vacation properties. Their products have also found utility in other outdoor settings, such as theme parks, water parks, and cruise ships. This versatility has further contributed to their market presence and solidified their standing as a leader in outdoor security solutions.
AquaVault’s Journey on Shark Tank
AquaVault’s appearance on Shark Tank has been a remarkable journey in the world of entrepreneurship. From their initial pitch to securing a deal with Daymond, the team has faced challenges head-on and experienced exponential growth. Their success story on the show has served as an inspiration for aspiring entrepreneurs worldwide.
During their pitch, Avin, Rob, and Jonathan showcased the innovative AquaVault, a portable outdoor safe that provides secure storage for valuables. Their demonstration of the product’s functionality and its potential applications, particularly at the beach, captured the interest of the Sharks.
The AquaVault’s locking plastic case, equipped with a combination lock, is designed to hold personal items such as wallets, phones, and keys. It can be easily mounted on poles or posts, ensuring the safety of belongings in various outdoor settings.
The team’s business model, which involves selling AquaVault both direct-to-consumers and wholesale to hotels, resorts, and cruise ships, further impressed the Sharks. The success they had achieved within just six months of sales, amounting to $87,000, demonstrated the market demand for their product.
Several Sharks were intrigued by AquaVault’s potential and made offers to invest in the company. Ultimately, Daymond’s offer of $75,000 for 25% equity resonated with the team, and they accepted the deal. This partnership valued AquaVault at $300,000, a testament to the product’s market potential and the team’s entrepreneurial vision.
Post-Shark Tank, AquaVault experienced unprecedented growth and continued to innovate. They introduced new products like the Flexsafe, a water-resistant safe, and the Flexsafe mini, a waterproof phone case, expanding their product line to cater to different customer needs.
AquaVault’s presence in the market soared as they secured partnerships with renowned hotels and resorts, including major brands such as Marriott, Disney, and Hilton. The quality and reliability of AquaVault’s products have made them a sought-after choice for beach-goers and vacationers worldwide.
To adapt to the challenges posed by the COVID-19 pandemic, AquaVault made a strategic pivot by inventing the Charge Card, a credit-card-sized phone charger. This diversification proved successful, and the company closed a stock sale for over $1 million, demonstrating their resilience and ability to thrive in dynamic market conditions.
AquaVault’s journey on Shark Tank serves as a shining example of entrepreneurship and the potential for success when innovative ideas meet strategic business execution. Through their determination and commitment to excellence, AquaVault has carved out a prominent position in the market and continues to evolve their offerings to meet customer demands.
AquaVault’s appearance on Shark Tank has been nothing short of remarkable. With their innovative and practical product, they captured the attention of the Sharks and secured a deal with Daymond. Since their successful pitch, AquaVault has experienced continued growth and success.
Their journey on Shark Tank exemplifies the power of entrepreneurship and the potential for success on the show. AquaVault’s portable outdoor safe has proven to be a valuable and innovative solution for beach-goers and vacationers looking to keep their valuables secure.
With partnerships with major hotel brands like Marriott, Disney, and Hilton, AquaVault has made a significant impact on the market. They have established themselves as a trusted and reliable brand, enhancing the security of individuals’ belongings worldwide.
Q: What is AquaVault?
A: AquaVault is a portable outdoor safe that can hold valuables like wallets, phones, and keys. It is a locking plastic case with a combination lock that can be mounted on poles or posts.
Q: How did AquaVault perform on Shark Tank?
A: The team behind AquaVault appeared on Shark Tank in episode 621 and sought ,000 for 12% equity in their company. They successfully pitched their product and received offers from the Sharks.
Q: What offers did AquaVault receive on Shark Tank?
A: The Sharks were interested in AquaVault, with Robert suggesting a share in recurring revenue in exchange for giving the product to hotels for free. Daymond offered ,000 for 25% equity, and the team accepted his offer. The deal valued AquaVault at 0,000.
Q: What success has AquaVault achieved after Shark Tank?
A: AquaVault has experienced continued success after appearing on Shark Tank. They closed their deal with Daymond and introduced new products like the Flexsafe and the Flexsafe mini. They have also secured partnerships with over 200 hotels and resorts and have reached lifetime sales of .5 million.
Q: How did the COVID-19 pandemic impact AquaVault?
A: The pandemic had a significant impact on AquaVault’s business, with travel restrictions and hotel closures leading to a decline in hotel and travel-related sales. To adapt, they invented the Charge Card, a credit card-sized phone charger, which proved successful.
Q: Where can I purchase AquaVault products?
A: AquaVault’s products can be purchased through their website. They also have a presence on social media platforms.
Q: What impact has AquaVault made on the market?
A: AquaVault has made a significant impact on the market, establishing partnerships with major hotel brands and becoming standard equipment for beach-goers and vacationers, enhancing the security of their valuables.
Q: What is AquaVault’s journey on Shark Tank?
A: AquaVault’s journey on Shark Tank has been a success story in entrepreneurship. From their initial pitch to closing a deal with Daymond, they have overcome challenges and experienced tremendous growth.
Q: Can you provide a conclusion about AquaVault on Shark Tank?
A: AquaVault’s appearance on Shark Tank has been a game-changer for the company. With a successful pitch, a deal from Daymond, and continued growth, AquaVault has proven to be a valuable and innovative product, showcasing the potential for success on the show.