Posted on May 02, 2024
Dan: Hi Sharks, I’m Dan from Missoula, Montana.
Andy: And I’m Andy from Locust Grove, Georgia. We’re the inventors of the Kettle Gryp.
Dan: Kettlebells have become increasingly popular for dynamic full-body workouts that build functional strength and range of motion. However, they’re expensive, hard to travel with, and take up valuable floor space. So, I started thinking about how to turn the dumbbells I already owned into kettlebells. That’s when the light bulb went off. I made a rough sketch and sent it to my best friend, Andy. He was impressed by my “talent” as an artist—
Andy: It looked like it was drawn by a 5-year-old—but he loved the concept.
Andy: Kettle Gryp is a portable dumbbell adapter that allows you to do all your favorite kettlebell exercises anywhere you can find a dumbbell. Simply open the Kettle Gryp, insert nearly any dumbbell, secure the latch, and you’re ready for your Kettle Gryp workout.
Dan: Kettle Gryp is great for swings, upright rows, overhead presses, flexibility, and range of motion.
Andy: We’re seeking a $300,000 investment for 10% equity in our company. So, Sharks, who’s ready to get a grip?
Andy: In front of you, you’ll find a Kettle Gryp and a dumbbell. Feel free to pick it up and check it out.
Mark: Great job, Robert. Here we go.
Kevin: How heavy is yours, Mark?
Lori: Actually, it’s not, but I really like the idea.
Andy: There are a lot of exercises you can’t safely do with a dumbbell.
Mark: I have to tell you, it actually felt better than a kettlebell.
Dan: We agree. Kettlebells can crunch your hands, but this has a very comfortable grip.
Mark: What’s the maximum weight it can handle?
Dan: It’s rated to hold up to 55 lbs without any problem.
Kevin: Why is this worth $3 million? You better have a ton of sales.
Dan: We do have sales. Our lifetime sales are $3.6 million.
Mark: 2018
Andy: $391,000
Kevin: 2019
Andy: $590,000
Kevin: 2020 (during COVID-19)
Andy: $1.9 million
Mark: 2021 (year to date)
Andy: $680,000 (expected to finish at $1 million)
Andy: 92% of sales are from online marketplaces.
Andy: I was a 20-year Marine Corps helicopter pilot.
Matt: Terrible name.
Matt: It’s a descriptive trademark. Enforcement will be difficult.
JD: The patent seems narrow and could be challenging to enforce.
Matt: They have a trademark registration, but it has limitations.
Matt: Product is good, trademark and patent are not ideal.
JD: Encouraged despite market dips post-COVID-19.
JD: Thanks for joining us. Wishing you all a great day. Go big, go bold!
