Bag Bowl

Bag Bowl on the Shark Tank Season 4 - Episode 4


Bag Bowl Brian and Kevin Flemming
Bag Bowl Demonstrated on "The Shark Tank"
Bag Bowl - Brian & Kevin Flemming is looking for $40k in exchange for a 33% equity stake in their invention. You can basically take a plastic bag and turn it into a bowl with a round collapsible piece of plastic. They have invested $40k of their own money and want a license play for the product. Keven O'Leary can't understand what is so special about this and doesn't think they will get the patent. They went to a large trade show and won an award for their idea but walked away with zero sales. Brian says they are "pre-revenue start-up" which basically means they have not made any money from the Bag Bowl. Daymond John basically nails it with
"pre-orders, pre-marketing, pre-sales, pre-patent pre-everything about the BagBowl. Mark Cuban claims they just want to use the Sharks contacts to try to push this simple product. Brian Flemming refers to Mark Cuban as "cubes". Oops Nobody calls Mark Cuban that, He's Out. O'Leary has some good criticism in innovating a new product. Bottom line, it needs to solve problems and reduce cost in which the Bag Bowl does neither in His opinion.

Getting An Offer From The Sharks

Robert thinks it's very clever. He tries to compare the Bag Bowl to individual size juice boxes that made it's owner very wealthy. He makes them an offer of $40k for 45% of the business. He thinks it has a good chance to get a license deal and is willing to take a chance with making a few calls. Lori Greiner "Miss QVC" wants to take a closer look and gets up on stage. She likes it but not for a license deal because it would be to easy to knock off this product.
different sizes of bag bowl Lori thinks she can sell thousands of them directly to the consumer on QVC. She makes them an off of $40k for 33% stake in the company, Exactly what they were asking for. The Flemmings ask if they could have a minute outside the Shark Tank to discuss Greiners offer. WHAT? Doesn't any of these contestants watch past episodes of the Shark Tank? Your getting EXACTLY what you asked for and you want to think about it. Lori is Shocked! She says if you walk out of the Shark Tank She will withdraw her offer. Daymond says "Ya go have a minute and see what happens". Lori comments it's amazing you would even say that and starts having doubts about her offer even if they do walk out.
The Flemmings quickly realise how far they have come to just to get on the Shark Tank and how close they are to blowing the deal. Kevin puts out his hand and starts walking towards Lori and says "we would love to make a deal".

Deal - Lori Greiner buys into the Bag Bowl Business for $40k and now owns 33% of the business.

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Will The Bag Bowl Be A Success?

My moneys on "Maybe". Lori has her work cut out for her on this one. At the end of the day it's still just a piece of collapsible plastic that you can put a bag inside.  With the right marketing, packaging and air time on QVC she just might make a profit. But to make Millions off this idea they may need to go with Roberts idea and look for a license agreement with a National Brand.

Follow the Flemings Progress

Bag Bowl Website
Facebook Page

2 comments:

  1. perfect idea!! just ordered the best kitchen solution for a major baggy user.

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  2. Anonymous7:54 PM

    I just ordered a set. I have people in my family with allergies. I usually have 2 main dishes for dinner. I also have a family of five. By making things in larger quatities I am able to freeze portions and bring them out for another dinner. As I was doing this today I was wishing I had the product!

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