There are over 500 energy drinks available, but not many are targeted at women. Cougar Energy Drink was designed for mature women, known as “cougars.” The drink contains organic ingredients that help them look younger. Founder Ryan Custer pitched the product on Shark Tank, but no deal was struck. Cougar Energy Drink closed in 2014 and is valued at $0 in 2024.
Ryan Custer’s Background
Born in Grapeville, Texas, Ryan Custer attended Baylor University’s College of Business on a student-athlete scholarship. While studying business administration, he served as captain of the baseball team.
Ryan worked as an assistant manager at General Nutrition Center while he was a student. Five years later, he became a monitoring analyst at Centerline Capital Group. In 2014, he was hired as the director of operations at CryoPen. Inc. and later entered the IT and real estate industries.
Cougar Energy Drinks founded
In 2009, Ryan decided to start his own business and invested all his savings into it. He entered the energy drink industry and wanted to create an organic brand specifically for cougars, targeting women aged 30 to 55.
It was a challenge from the beginning, as the market was small and young men were the biggest consumers of energy drinks. Even so, the Grapeville native persevered and launched the energy drink in 2009, during a difficult period in his life.
He lived with his parents when he started his business. He did most of the work himself and progressed slowly. Three years later, he had revenue of more than $60,000.
Shark Tank Appearance
In 2012, Ryan Custer knew things had to change. He knew that if his company was going to grow, it would need a lot of capital. So he applied to Shark Tank and appeared on the season 3 finale. Custer received a 30% stake for $150,000.
After the introduction, the investors started a funny conversation about the definition of a mountain lion. When the laughter ended, things got serious and the sharks lost interest when he revealed his sales. A salary of $20,000 per year was not too attractive.
Gradually, the sharks backed out, believing that the company couldn’t really make money. The advertising costs required to gain market share were too high. Sadly, Ryan went home without a deal.
After Shark Tank
Despite the Sharks’ discouraging comments, Custer tried to maintain his business after the show ended. He even showcased his energy drink for women at the 2010 MTV Awards.
Unfortunately, this wasn’t enough for Cougar Energy Drink, and they had a hard time getting distribution. Ryan abandoned the idea and stopped posting on social media. After five years, he closed the business in 2014. Cougar Energy Drink’s lifetime sales are estimated at $100,000.
Ryan currently works in the IT and Creative Solutions division at Custer’s Solutions and also works as a real estate agent at Pinnacle Realty Consultants. In 2019, he began working as a shipping associate for Home Depot.
Categories: Shark Tank
Source: svlsf.edu.vn