Sandbags are a common way to protect your home when a storm or flood strikes. However, shoveling the sand can take several hours. StormBags are a great option because you only need a little water and you can handle up to 35 pounds for harsh weather conditions. Maurice and Myles Hoffman created the product and secured a Shark Tank deal with Mark Cuban and Lori Greiner. After the show, the StormBag was worth $2 million.
Founder
Morris and Miles were a father and son whose story touched many lives. They are from Paradise, California, their beloved town that burned down in the 2018 Camp Fire. The Hoffmans' home and business were destroyed. Morris owns a military surplus store called Swiss-Link, which he opened in 1995.
Before the fire, his best-selling product was reusable sandbags made from cross-linked polyacrylamide powder. When mixed with water, the material swells into a heavy hydrogel. It will deflate within a few weeks and be ready for use again.
Maurice typically sells about 200 bags a week. In 2011, when Hurricane Irene was expected to hit the East Coast, the entrepreneur sold more than 10,000 units in just one week.
On “Shark Tank”
With their town reduced to ashes, Morris found it difficult to get his company back on track. That's when his son Miles quit his job to help with the family business. He specializes in marketing and optimizing their product websites.
Demand for StormBag has grown steadily in recent years as hurricane activity in the North Atlantic basin has increased. This prompted founders to seek help from outside investors.
Morris and Myers joined Tanks in season 15, and their segments were filled with emotion. Of course, Kevin didn't have time for sob stories, he wanted to get down to business. Lubezki, on the other hand, wants to come across as a good guy. The ambitious couple hopes to raise $200,000 in investment for a 10% equity stake.
After Shark Tank
The Sharks have expressed an outpouring of sympathy for the guys, with their stories gaining traction on Twitter and fans eager to support them. StormBag should generate at least $50,000 in sales from the show's publicity. The product has a simple structure and can be used in a variety of industries. The deals with Mark and Lloris should be completed within the next three months.
The StormBag is available for purchase at StormBag.co, Amazon and the official website of Maurice's Military Surplus Store, SwissLink.com. You can buy a bag for $10 or buy in bulk to save money. On Amazon, their 50-pack has an average rating of 4.6 stars out of 5.
In addition to reusable sandbags, the company also sells door protection kits. These are specialized bundles that include a variety of materials to protect doors of all sizes from strong winds. Having multiple products is important because it is difficult to build a company with one product. The Hoffmans come across as very likable, so fingers crossed this adventure will work out for them.
Categories: Shark Tank
Source: svlsf.edu.vn