The Spatty on Shark Tank Show
|Cheryl Rigdon demonstrating the Spatty|
on the Shark Tank Show
Cheryl came into the Shark Tank with a great idea but she lacked the needed contacts to bring her invention to the world. She was only asking for $50,000.00 and was willing to give up 40% of the new business to have a partnership with one or more of the Sharks. Rigdon gives a good presentation on the many products that most people throw away because it is nearly impossible to get it all out of the containers. She then whips out this little 3" long Spatty and the larger Spatty Daddy used for larger containers.
All the Sharks start laughing hysterically I think first because of such a simple idea to an age old problem and then, well come on, a spatty that has a daddy? A brilliant and very easy name to instantly remember this product.
The Spatty and the Spatty Daddy so far have sold around 15 products on EBay prior to the Shark tank but only as a test to see how well they would sell and at what price point. She is physically making them at home and needs the investment to get the molds and professional packaging to bring them to market. When asked how she plans to sell them, Cheryl responds that she thinks they would sell very good on QVC with a big smile in Lori Greiner's direction. She also thinks the Spaddy would sell good with Mary Kay Cosmetics and with Avon considering their vast network of associates.
As good of an idea that the spatty is it also had a few pitfalls that the Sharks instantly recognised that may pose a problem in creating a business around. The number one concern was how much could you sell two miniaturized spatula's for even if they could save you money. How could the Sharks scale up this idea and make it into a full fledged business with only two simple products? All the Sharks proceed to go out except for Lori. Her #1 concern was the price point and would it be a good fit for QVC. Even though Cheryl was very realistic in her valuation and willing to give up 40% of the invention at the beginning of negotiations, Greiner was still not able to justify investing in the Spatty or his Daddy. Daymond John did offer to help put Cheryl in contact with the right people and get her headed in the right direction which is worth it's weight in gold for someone in her position.
The Spatty after the Shark Tank Show Update:
This really is a great success story that started out as an idea to solve a problem and is now in full production that will continue to grow in popularity. Sheer determination will always outlast any obstacle put in front of you IF you never give up on your Dream.
If you can Conceive It and Believe It - You Can Achieve It!
Never Ever Give Up On your Dream. NEVER!
Order Your Spatty and Spatty Daddy Online