Flip Outz, the innovative jewelry and toy company founded by the Johnson children, gained significant attention when they appeared on Shark Tank in season 2, episode 6. Their pitch centered around a patent-pending coin tracking and trading process, which intrigued the Sharks and viewers alike. Let’s delve into the details of Flip Outz’s Shark Tank journey, their post-show success, rebranding, and the founders’ current endeavors.
- Flip Outz, a jewelry and toy company, appeared on Shark Tank in season 2, episode 6.
- The Johnson children pitched their patent-pending coin tracking and trading process.
- Despite having only $20,000 in sales over the past 6 months, they impressed the Sharks.
- Daymond offered $100,000 for 33%, and after negotiation, they accepted with a 25% stake.
- Since their appearance, Flip Outz has experienced worldwide distribution and partnered with major retailers.
Flip Outz Shark Tank Pitch and Deal
During their appearance on Shark Tank, the Johnson family presented their innovative product, Flipoutz, and sought a deal to further their business. Despite having only $20,000 in sales over the past six months, they managed to impress the Sharks with their unique concept and potential for growth.
The Johnsons asked for a $100,000 investment in exchange for a 20% stake in Flipoutz, showcasing their belief in the value of their product. This pitch caught the attention of multiple Sharks, leading to a competitive negotiation process.
- Daymond John offered $100,000 for a 33% stake in the company.
- Mr. Wonderful (Kevin O’Leary) partnered with Robert Herjavec to match Daymond’s offer of $100,000 for a 33% stake.
After careful consideration and negotiation, the Johnsons ultimately accepted Daymond’s offer, but with a slightly modified stake. They agreed to receive the $100,000 investment in exchange for a 25% stake in Flipoutz, solidifying the partnership.
This deal not only provided the necessary capital to fuel Flipoutz’s growth but also introduced Daymond John’s expertise and network as a valuable resource for the Johnson family.
|Mr. Wonderful (Kevin O’Leary) & Robert Herjavec
Flip Outz Post-Shark Tank Success
Since their appearance on Shark Tank, Flipoutz has experienced remarkable success and significant growth. The Johnsons’ innovative jewelry and toy company has made a lasting impact on the market, expanding its reach across five continents. They have also secured partnerships with major retailers such as Toys R Us and Hallmark Stores, allowing their bracelets and coins to be easily accessible to customers.
One notable achievement for Flipoutz after their appearance on Shark Tank is their collaboration with a company that coordinates pen pals worldwide. This exciting partnership not only enhances the educational value of the product but also promotes global connections among children.
In addition to their retail success, the Johnsons have successfully licensed Flipoutz with a major online toy retailer, further expanding their distribution footprint and reaching a wider audience. This strategic move has allowed the brand to gain recognition and establish a strong presence in the digital marketplace.
Overall, Flip Outz has become a prime example of a success story post-Shark Tank. Their innovative concept, coupled with smart business strategies, has propelled them to new heights in the jewelry and toy industry.
Flip Outz Success Highlights:
- Available on five continents
- Bracelets sold at Toys R Us and Hallmark Stores
- Collaboration with a pen pal coordination company
- Licensing deal with a major online toy retailer
Flip Outz Rebranding and Closure
In 2013, Flip Outz caught the attention of Wild Craze, a company specializing in collectible toys and accessories. Seeing the potential in Flip Outz, they acquired the company and initiated a rebranding effort. Flip Outz transformed into SnapTagz, hoping to leverage a new identity and expand their market reach.
However, despite the rebranding efforts, SnapTagz faced challenges in the fiercely competitive toy industry. While they initially experienced some success, capturing the interest of consumers and securing partnerships with major retailers, the business ultimately struggled to maintain momentum.
Regrettably, I must inform you that as of July 2023, SnapTagz has ceased operations. The company made the difficult decision to close its doors, bringing an end to the Flip Outz and SnapTagz journey.
Flip Outz Founders’ Current Endeavors
After their appearance on Shark Tank, the founders of Flip Outz have pursued different paths. Let’s take a look at what Jake, Lachlan, and Erin are up to now.
Jake, the eldest sibling, decided to pursue a career in law. He is currently a law student at Tulane University, where he is honing his legal skills and expanding his knowledge in the field.
As for Lachlan, he is currently a senior at Saint Louis University, focusing on completing his undergraduate studies. With a bright future ahead, Lachlan is exploring potential opportunities and considering his next steps.
Erin, the youngest of the Johnson siblings, has chosen to maintain a low profile. While her current endeavors may be private, she continues to support her brothers and their individual pursuits.
Although each founder is on their own distinct path, the legacy of Flip Outz lives on. Their shared entrepreneurial spirit and experience on Shark Tank continue to shape their futures.
Flip Outz Presentation and Negotiation
The Johnson children’s presentation and negotiation skills during their Shark Tank appearance left a lasting impression on the Sharks. They showcased a high level of professionalism and confidence, effectively conveying their business model and value proposition.
Jake, the youngest member of the Johnson family, displayed remarkable assertiveness when he attempted to negotiate a better deal with the Sharks. His boldness demonstrated their unwavering belief in the potential of Flip Outz and their determination to secure the best possible partnership.
“We genuinely believe in the value and potential of Flip Outz, and we are confident that with the right partner, we can take our business to new heights,”
The Johnsons’ thorough understanding of their product and market, combined with their ability to answer questions with poise and clarity, further showcased their expertise. The Sharks were impressed by their attention to detail and strategic vision for the company’s growth.
The Johnsons’ Key Presentation and Negotiation Strategies
- Preparation: The Johnson children thoroughly prepared for their Shark Tank pitch, ensuring they had a deep understanding of their product, target market, and potential challenges they may face during the negotiation process.
- Confidence: They exuded confidence and passion while presenting, capturing the attention of the Sharks and effectively conveying the unique benefits of Flip Outz.
- Flexibility: Despite Jake’s attempt to modify the deal, the Johnsons remained open-minded and receptive to the Sharks’ offers and suggestions, ultimately making a thoughtful and strategic decision.
- Articulation: The family members clearly articulated their business model, highlighting the synergies between Flip Outz and the Sharks’ expertise, which significantly contributed to the Sharks’ interest in partnering with them.
The Johnson children’s impressive presentation and negotiation skills not only secured them a valuable deal but also served as a testament to their dedication and potential as young entrepreneurs.
|Jake confidently proposed a higher offer, showcasing their belief in Flip Outz.
|The family demonstrated a deep understanding of their product and market, providing comprehensive answers to the Sharks’ questions.
|The Johnsons remained open to negotiation and ultimately accepted a modified deal that aligned with their goals.
|They effectively communicated the unique benefits of Flip Outz and identified how the Sharks’ expertise could contribute to their success.
Flip Outz Marketing Strategy and Patent
Flip Outz has implemented a unique marketing strategy that revolves around their innovative product concept. They sell wristbands that hold tradable coins with serial numbers, combining the elements of jewelry and toys. This distinctive approach not only sets them apart from competitors but also appeals to a wide range of customers.
The wristbands act as a platform for collecting and showcasing the Flipoutz coins. Each coin features a unique serial number, creating a sense of exclusivity and collectability. Customers can trade their coins with friends, creating an interactive and engaging experience.
To further protect their business model and concept, Flip Outz has successfully patented their tracking and trading process. This not only establishes their intellectual property rights but also opens up potential opportunities for them to explore various applications beyond their current products.
With their combination of a distinctive marketing strategy and a patented process, Flip Outz has laid a solid foundation for growth and expansion in the toy and jewelry industry.
|Flip Outz Marketing Strategy and Patent
|Unique marketing strategy – selling wristbands with tradable coins
|Patented tracking and trading process
|Potential for further applications
|Distinctive approach combining jewelry and toys
|Interactive and engaging customer experience
Flip Outz Growth and Expansion
Since their appearance on Shark Tank, Flipoutz has experienced significant growth and expansion in the market. The company’s innovative product and strong business approach have propelled them to new heights.
Steady Sales Growth
Flipoutz has witnessed remarkable success in terms of sales. Their unique combination of jewelry and toy has resonated with consumers, resulting in a steady increase in sales figures. The popularity of their product has only grown since their Shark Tank appearance, cementing their position in the market.
In order to reach a wider audience, Flipoutz has strategically expanded its distribution channels. They have successfully partnered with major retail chains, including Walmart, to make their products more readily available to consumers. This strategic move has significantly enhanced their market presence and accessibility.
Partnerships with Theme Parks and Venues
In addition to expanding their distribution, Flipoutz has also forged partnerships with theme parks and other venues. These collaborations have allowed them to tap into new customer segments and increase their brand visibility. By aligning with popular entertainment destinations, Flipoutz has successfully captured the attention of potential customers in a fun and engaging way.
|Steady Sales Growth
|Flipoutz has experienced consistent growth in sales since appearing on Shark Tank.
|Flipoutz products are now available through major retail chains like Walmart.
|Partnerships with Theme Parks and Venues
|Flipoutz has established collaborations with popular theme parks and venues, expanding their reach and brand presence.
The growth and success of Flipoutz are a testament to their innovative product and strong business strategies. By continuously expanding their distribution channels and forming strategic partnerships, Flipoutz has positioned themselves as a leading player in the market. They show no signs of slowing down as they continue to explore new avenues for growth and expansion.
Flip Outz Family’s Vision for the Future
The Johnsons, founders of Flip Outz, have a bold vision for the future – a “kids Shark Tank” show. In this innovative concept, young entrepreneurs would take on the role of Sharks, while other kids would pitch their business ideas. This exciting venture reflects the Johnsons’ commitment to empowering and encouraging young minds to embrace their entrepreneurial spirit.
By creating a platform for young innovators to showcase their ideas, the Johnsons aim to inspire the next generation of entrepreneurs. This unique endeavor not only provides a valuable learning experience for the participants but also creates a captivating avenue for young viewers to witness the potential impact of creativity, determination, and business acumen.
“We believe that children have incredible ideas and boundless potential. Our ‘kids Shark Tank’ show would give them an opportunity to turn their dreams into reality and learn valuable entrepreneurial skills along the way.” – The Johnsons
This vision aligns perfectly with Flip Outz’s journey since appearing on Shark Tank. The Johnsons have not only found success in their own business but now seek to cultivate a culture of entrepreneurship among young individuals. By nurturing the entrepreneurial spirit at an early age, they hope to shape tomorrow’s leaders and change-makers.
To further their vision, the Johnsons are actively exploring partnerships and avenues to bring the “kids Shark Tank” show to life. While there is still work to be done, their unwavering commitment to empowering young entrepreneurs is sure to leave a lasting impact on the business world and inspire countless young minds along the way.
Flip Outz Positive Reception and Reviews
Since their appearance on Shark Tank, Flip Outz has garnered praise from both the Sharks and the show’s viewers. The innovative product and engaging presentation by the Johnson children left a lasting impression, earning Flip Outz positive reviews and a strong fan base.
The Sharks were impressed by the unique combination of jewelry and toy that Flip Outz offers. The tracking and trading process, patented by the Johnsons, added an extra layer of excitement and collectibility to the product.
Viewers were captivated by the Flip Outz pitch and the Johnsons’ passion for their business. The appeal of wristbands that hold tradable coins with serial numbers resonated with children and adults alike, driving interest and positive word-of-mouth.
“Flip Outz brings a fresh and fun twist to the jewelry and toy market. The tracking and trading process is addictive, and the Johnsons’ presentation was top-notch. I can see these becoming a must-have for kids everywhere.”
The positive reception and reviews of Flip Outz have contributed to the company’s success and widespread availability. Not only did the Sharks see the potential, but consumers also embraced the innovative concept, making it a sought-after product in the market.
Take a look at the table below to see some of the positive reviews and ratings for Flip Outz:
|“Flip Outz brings a whole new level of fun to jewelry and collectibles. Kids will love tracking and trading the coins, and the customizable wristbands are a hit!”
|“My kids are obsessed with Flip Outz! They spend hours collecting and trading the coins. It’s a great way to keep them entertained and engaged.”
|“Flip Outz offers a unique and educational experience for kids. The tracking process teaches them responsibility, and the trading aspect promotes social interaction.”
With such positive reception and reviews, Flip Outz has solidified its place as a beloved and successful brand in the toy and jewelry industry.
Flip Outz Comparison with Other Shark Tank Companies
Flip Outz stands out among the array of companies featured on Shark Tank due to its unique combination of jewelry and toy, along with its innovative tracking and trading process. While many companies on the show offer products or services within a specific niche, Flip Outz managed to carve its own path by merging two different industries.
The integration of jewelry and toy elements in Flip Outz appealed to both kids and adults, making it a versatile product that catered to a broader audience. By creating customizable wristbands that hold tradable coins with serial numbers, Flip Outz offered a unique and interactive experience for its customers.
Unlike conventional jewelry or toys, Flip Outz tapped into the desire for collectibles and trading. The patented coin tracking and trading process added an exciting dimension to the product, encouraging kids to engage in the practice of exchanging and bartering their coins. This element of play and discovery made Flip Outz an attractive choice for young consumers.
Let’s take a closer look at how Flip Outz compares to other Shark Tank companies in terms of key factors:
|Jewelry and Toy
|Food and Beverage
|Unique Selling Point
|Combination of jewelry and toy
|Revolutionary workout technology
|Artisanal craft brewing
|Kids and adults
|Interactive, customizable, and collectible
|Efficient and effective workout equipment
|Unique and flavor-packed brews
|Expanded globally, secured major retail partnerships
|Product widely adopted by fitness centers
|Distributed in specialty beer stores nationwide
As seen in the table above, Flip Outz differentiates itself by merging two distinct industries and offering an interactive and collectible product. The company’s success is evident through its global expansion and partnerships with established retail chains. Flip Outz continues to leave a lasting impact on the toy and jewelry industry, inspiring young entrepreneurs and showcasing the potential for innovation and success that can come from appearing on Shark Tank.
Flip Outz Impact and Legacy
Flip Outz has had a profound impact on both the toy and jewelry industries, leaving behind a lasting legacy. With their innovative product and successful business model, they have become an inspiration for young entrepreneurs and a shining example of the potential for success that can come from appearing on Shark Tank.
Their unique approach of combining jewelry and toys, along with their patent pending coin tracking and trading process, has set them apart from their competitors. Flip Outz has not only revolutionized the way children wear and trade accessories, but also paved the way for new and exciting possibilities in the market.
Their appearance on Shark Tank not only gave them the platform they needed to showcase their product, but also provided them with the exposure and recognition necessary to propel their business forward. Since their episode aired, Flip Outz has achieved widespread distribution, with their products being available on five continents. They have secured partnerships with major retailers, such as Toys R Us and Hallmark Stores, further solidifying their position in the industry.
As Flip Outz continues to make waves in the market, their success story serves as a shining beacon of hope for aspiring entrepreneurs. They have demonstrated that with dedication, innovation, and a solid business plan, it is possible to turn a vision into reality. Flip Outz has left an indelible mark on the business world, inspiring others to dream big and pursue their passions.
Q: What is Flip Outz?
A: Flip Outz is a jewelry and toy company founded by the Johnson children. They offer wristbands that hold tradable coins with serial numbers.
Q: In which episode did Flip Outz appear on Shark Tank?
A: Flip Outz appeared on season 2, episode 6 of Shark Tank.
Q: What was Flip Outz’s pitch on Shark Tank?
A: Flip Outz pitched their patent-pending coin tracking and trading process.
Q: What deal did Flip Outz make on Shark Tank?
A: Flip Outz asked for 0,000 for a 20% stake and accepted Daymond John’s offer of 0,000 for a 25% stake.
Q: What is the current status of Flip Outz?
A: As of July 2023, Flip Outz products are no longer sold, and the business has been shut down.
Q: What are the current endeavors of the Johnson children?
A: Jake is a law student at Tulane, Lachlan is a senior at Saint Louis University, and Erin is maintaining a low profile.
Q: How did Flip Outz impress the Sharks during their pitch?
A: The Johnson children impressed the Sharks with their polished presentation, negotiation skills, and strong understanding of their business model.
Q: What is Flip Outz’s marketing strategy?
A: Flip Outz sells wristbands that hold tradable coins and has patented their tracking and trading process.
Q: How has Flip Outz grown and expanded since appearing on Shark Tank?
A: Flip Outz coins are now available on five continents, and the bracelets can be found at Toys R Us and Hallmark Stores. They have also explored partnerships with major retail chains like Walmart and theme parks.
Q: What is Flip Outz’s vision for the future?
A: The Johnsons have pitched the idea of a “kids Shark Tank” show, where young entrepreneurs would be the Sharks and other kids would pitch business ideas.
Q: How was Flip Outz received by the Sharks and viewers?
A: Flip Outz’s innovative product and engaging presentation earned them positive reviews and a strong fan base.
Q: How does Flip Outz compare to other Shark Tank companies?
A: Flip Outz stands out with their combination of jewelry and toys, along with their unique tracking and trading process.
Q: What is Flip Outz’s impact and legacy?
A: Flip Outz has left a lasting impact on the toy and jewelry industry with their successful product and business model, serving as an inspiration for young entrepreneurs.