Chord Buddy on the Shark Tank Show
Learn How To Play A Guitar - Season 3 - Episode 301 - Update
|The New Chord Buddy Combo|
Travis Perry developed the Chord Buddy to teach his Daughter how to play the guitar which she did within just a few months time. It was so easy to learn this way that Perry knew he had a new hit product that could teach thousands how to play. In a single months time, Travis had a $150,000.00 in sales within a months time which confirmed he was on to something BIG and he just had to convince at least one Shark to invest in the Cord Buddy and go along for the ride.
When Travis entered the Shark Tank he was more confident then ever of the future success of the Chord Buddy and ready to negotiate with the Sharks. His biggest stipulation was that the Cord Buddy will continue to be manufactured in the U.S.A.
He was asking for $125,000.00 and would give up 10% equity stake in the business in return valuing the Chord Buddy at $1.2 million at that time. Total sales have already surpassed the $500k mark and he reluctantly (I'm not sure why?) says he also has a purchase order with Sam's Club to place 50 Chord Buddies in all 5000 locations.
The Sharks LOVE this Idea and the offers started coming in. Interestingly no one seems to want to partner up on this deal and Travis gets 4 offers from four Sharks all basically with the same offer, a $125,000.00 for 20% of the guitar learning business. It all comes down to who can help the Chord Buddy Guitar Business the most. In the end Travis Perry partners with Robert Herjevic for an additional $50k and makes a deal for $175,000.00 and a 20% stake in the Chord Buddy Guitar Business.
Guitar Buddy Update after the Shark Tank Show UpdateThe deal between Travis Perry and Robert Herjevic did indeed go through and to say that the Chord Buddy is a Big Success may be a very big understatement. For the $175k Robert invested in the company it is turning out to be one of the most solid investments he has made on the Shark tank thus far. Within a years time, sales are now in the $1.5 million range and still climbing as new products keep getting introduced. They have also made a deal with John Rich with the "Big and Rich Band" as their National Spokesperson for anyone that wants to learn how to play the guitar.
What started out as a simple devise that teaches you how to play, has now grown to several other products including a 2 month lesson plan with DVDs and a song book with over 100 easy to play songs. if your going to sell a product that is the easiest way to learn how to play a guitar, then you might as well sell guitars to go along with them, right? Great Idea! Travis has now come up with a full line of guitars depending on your skill level and the type of music that you want to play. With a price point starting at $124.99 that includes EVERYTHING you need, it definitely has a lot of value.
So how easy is it to learn how to play a guitar using the Chord Buddy? Well if Travis can teach Willie Robertson from "Duck Dynasty" how to play, then it's a safe bet he can teach you too.
You Can Order Your Chord Buddy Combo Online Here
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