The Worst Shark Tank Products: 12 That Failed

Shark Tank is a actuality TV present constructed round entrepreneurs in search of investments of their firms. A few of these firms go on to attain success. The worst Shark Tank merchandise went completely nowhere and produced nothing however losses for his or her traders.

Let’s check out a few of the lemons that Shark Tank has produced: the worst Shark Tank merchandise.

Shark Tank: How It Works

Shark Tank relies on a easy premise. Entrepreneurs deliver their enterprise concepts into the Shark Tank and ask for cash in return for half possession of their firms. A panel of traders – the “sharks” – listens to the pitches, analyzes their potential, and decides whether or not to speculate.

Like all TV reveals, Shark Tank was primarily developed for leisure: viewers get a vicarious thrill out of watching entrepreneurs lay their concepts on the road and seeing some shot down and others strolling away with tons of of hundreds in new capital.

Whereas Shark Tank is all about leisure, it has been a approach for some entrepreneurs to realize each cash and publicity, launching their firms to success. It has additionally launched some spectacular flops. We’ll have a look at a few of the worst Shark Tank merchandise right here.

? Be taught extra: Discover our roundup of one of the best Shark Tank merchandise that made it large, from modern devices to groundbreaking providers.

The 12 Worst Shark Tank Merchandise

Turning into an entrepreneur isn’t as straightforward as it would first seem. It’s not sufficient to have a cool thought and produce it straight to market. You might want to totally develop your marketing strategy, analysis the market, determine your target market, assess the competitors, develop an growth technique, take a look at the viability of your product, and extra.

These entrepreneurs have failed on no less than considered one of these accounts.

1. The Breathometer (2013)

At first look, the Breathometer, developed by Charles Michael Yim, appeared like an ingenious thought. Introduced in season 5 of the present (2013), the moveable breathalyzer might pair up with a smartphone to learn the person’s blood alcohol ranges.

All 5 of the sharks determined to put money into it, with Mark Cuban, Lori Greiner, Robert Herjavec, Kevin O’Leary, and Daymond John elevating 1 million in alternate for simply 30% of the enterprise’s fairness.

Issues arose after the funding, although. The enterprise couldn’t meet the heightened demand for the product. The product additionally failed to satisfy person expectations, delivering inaccurate outcomes and inflicting the Federal Commerce Fee (FDC) to step in.

It wasn’t lengthy earlier than the Breathometer needed to be taken off the market. The concept went down the drain, together with the cash invested by the sharks.

? Be taught extra: Discover 5 efficient methods to get cash to begin a enterprise, serving to you flip your entrepreneurial desires into actuality

2. CATEapp (2012)

In season 4 of the present (2012), the Shark Tank traders heard a presentation from Neal Desai, inventor of CATEapp. Often known as the “cheater’s app”, CATEapp supplied the flexibility to cover messages from choose contacts, enabling them to solely be seen by the cellphone’s main person.

Two of the sharks, Kevin O’Leary and Daymond John, had been intrigued sufficient to boost $70,000 in alternate for 35% fairness.

The app received hundreds of downloads after its Shark Tank look, but it surely rapidly grew to become clear that the app was laden with bugs and leaked delicate info. Its options may be circumvented somewhat simply. Furthermore, it couldn’t compete with related, extra dependable apps that got here to market.

CATEapp is now not out there for downloads, and the cash invested in it’s gone, making it one of many worst Shark Tank merchandise.

? Be taught extra: Uncover  become profitable together with your cellphone utilizing our sensible suggestions and concepts that flip your gadget right into a income supply.

3. Candy Ballz (2013)

Though the traders in Shark Tank have, on a number of events, highlighted how dangerous investing in meals companies may be, Mark Cuban and Barbara Corcoran jumped on the alternative to put money into Candy Ballz.

In season 5 James McDonald and Cole Egger offered their thought: promoting scrumptious little cake balls. The founders acquired $250,000 in alternate for 25% of their fairness, and all was good for some time.

Sadly, although, James and Cole had a falling out and even filed for restraining orders towards each other.

Candy Ballz, now run by James, continues to be in enterprise at present, although it’s not practically as profitable because it might’ve been had he and his enterprise associate stayed on the identical web page. Candy Ballz could not have been one of many worst Shark Tank merchandise, but it surely was actually one of many worst partnerships!

? Be taught extra: Discover the highest picks for one of the best meals shares & ETFs of 2024 to boost your funding portfolio.

4. Squirrel Boss (2013)

Michael Desanti offered Squirrel Boss in season 4 (2013) of Shark Tank. At its core, it was a easy fowl feeder, but it surely had a characteristic that might ship an electrical shock to pests like squirrels to discourage them from stealing the fowl meals. Supposedly, the shock wouldn’t hurt the squirrels.

The principle drawback was that the product couldn’t differentiate between pests and birds and would shock any animal that got here into contact with it, a major design flaw that would hardly be missed.

Squirrel Boss was additionally costly and unpatented, so not one of the sharks had been keen to put money into it.

Whereas it was out there on Amazon for some time, Squirrel Boss by no means took off as a consequence of its main design flaws and hefty worth.

5. Authentic Man Candle (2011)

The Authentic Man Candle was the brainchild of Johnson Bailey, who believed that conventional scented candles had been too female.

Presenting his thought in season 2 of the present, Johnson tried to distinguish his product by introducing extra “masculine” scents that might supposedly attraction to the male target market.

Unsurprisingly, not one of the “sharks” had been interested by investing within the Authentic Man Candle. Which will have been because of the collection of scents supplied, which included “popcorn,” “golf course,” and “flatulence,” or because of the lack of a complete marketing strategy.

6. ToyGaroo (2011)

ToyGaroo is likely one of the better-known failures from Shark Tank. Initially offered in season 2 (2011), ToyGaroo was based by Nikki Pope, Younger Chu, Hutch Postik, Phil Smy, and Rony Mirzaians.

The premise behind it was easy. ToyGaroo rented out youngsters’s toys in a subscription-based service. Dad and mom might join the service, hire high-quality toys for a month, return them, and get a brand new batch, avoiding the issue of spending on toys solely to have the children lose curiosity.

Mark Cuban and Kevin O’Leary noticed the attraction, committing $250,000 to the enterprise.

Nevertheless, ToyGaroo wasn’t prepared for the heightened demand following the episode’s airing. Sourcing high-quality toys and delivery them proved to be dearer than anticipated, main the enterprise to go bankrupt in months.

? Be taught extra: Be taught precisely what’s chapter and the steps concerned in declaring it, in our newest submit designed for readability and perception.

7. Trunkster (2015)

Trunkster was a promising new firm that was presupposed to disrupt the journey trade. Based by Gaston Blanchet and Jesse Potash, it introduced a brand new degree of expertise to a really previous product: baggage. The product was a wise suitcase with helpful options like a GPS monitoring system, USB ports, a digital scale within the deal with, and extra.

Introduced on Shark Tank in season 7, Trunkster caught the eye of Mark Cuban and Lori Greiner, who invested $1.4 million in alternate for 15% of the corporate.

The deal, nonetheless, fell via. Trunkster’s obvious $28 million valuation solely got here from presales on Kickstarter and Indiegogo and aggressive income projections. Many of the clients who signed up for preorders by no means acquired their high-tech baggage and those that did acquired poor-quality merchandise that didn’t meet the expectations arrange by Trunkster’s advertising marketing campaign.

? Be taught extra: Discover our high picks for one of the best no-fee journey bank card choices in 2024, excellent for savvy vacationers trying to save.

8. Wired Waffles (2012)

Wired Waffles was a flop from the get-go. First offered in season 4 of Shark Tank, the enterprise was based by Roger Sullivan.

Wired Waffles are caffeine-infused waffles that might supposedly assist busy folks save time within the morning since they wouldn’t should make each espresso and breakfast.

Not one of the sharks had been interested by investing on this. In spite of everything, caffeine as a easy ingredient couldn’t be patented. The product didn’t have a nice style, and worst of all, it could possibly be ingested by youngsters by chance.

Wired Waffles is an ideal instance of what occurs when entrepreneurs don’t assume their concepts via, fail to check the viability of their merchandise and don’t conduct correct market analysis.

9. Vestpakz (2014)

Vestpakz appeared like a promising product when it was offered throughout season 6 of the present (2014). Michael Woolley and Arthur Grayer created it as an modern new youngsters’s backpack that would scale back the wearer’s again and shoulder ache.

Formed to appear like a vest and boasting loads of cupboard space, it appeared like the proper product. Sadly, although, no shark wished to put money into it.

Regardless of Vestpakz being out there in Walmart shops, the gross sales had been abysmal. The ratio between its manufacturing prices and promoting worth was too low, and there was minimal shopper demand. In the end, Vestpakz went out of enterprise.

10. Cougar Power (2012)

Cougar Power was a product developed by Ryan Custar and offered to Shark Tank traders throughout season 3 (2012). As its identify suggests, it was an power drink designed for “cougars”, aka middle-aged single girls.

Supposedly, the drink wouldn’t solely deliver the patron’s power ranges up, however it might additionally positively have an effect on the hair and nails. Furthermore, it boasted “anti-aging” substances, although none of those claims had been scientifically supportable.

Cougar Power acquired no investments in Shark Tank. Not one of the traders believed there was a marketplace for such a product, nor did they imagine it might stand as much as rivals. With low gross sales and loads of destructive feedback on Amazon and social media, it was obvious that the traders had been proper.

11. Wake N Bacon (2011)

The idea gained recognition on-line earlier than Matty got here on the present, with loads of folks asking to purchase it.

Nevertheless, the sharks noticed it as a gag present that might have few authentic customers. Furthermore, it rapidly grew to become obvious that Matty hadn’t thought the entire idea via. There have been no security guards that might decrease hearth dangers, for example.

Matty hadn’t give you a promoting worth. He hadn’t developed a plan that might assist him promote extra items after making a prototype and had no gross sales projections.

All he had was an thought for a product and no plans to assist him market and promote it. Regardless of many on-line shoppers expressing a want for Wake N Bacon, the enterprise fell via as a result of there actually wasn’t a enterprise there within the first place, simply an thought.

12. Foot Fairy (2013)

Foot Fairy was offered throughout season 5 of Shark Tank. Inventors Sylvie Shapiro and Nicole Brooks developed an app to assist dad and mom measure their youngsters’s ft and purchase suitably sized footwear for them, thus minimizing the dangers of frequent foot points.

Foot Fairy can be free to make use of, and the corporate would earn commissions from standard shops like Zappos.

Nevertheless, regardless of the app having hundreds of downloads previous to Sylvie and Nicole’s look on Shark Tank, the 2 had earned no commissions.

Whereas the idea, at its core, appeared attention-grabbing sufficient, there have been a few points that deterred the sharks from investing in it. The app was straightforward sufficient to repeat, which might deter any main retailers from providing commissions for it. Furthermore, it might have been a way more viable marketing strategy for Sylvie and Nicole to develop their very own model of footwear and use Foot Fairy to extend their gross sales.

Though one of many sharks did provide a deal, it by no means got here to fruition, and Foot Fairy is now not out there.

Conclusion

Whereas there are a few outrageous Shark Tank pitches on this listing, some would possible have confirmed to be profitable had the entrepreneurs developed their concepts higher. In spite of everything, having an amazing product thought is rarely sufficient to make sure the success of a enterprise. Entrepreneurs all the time should conduct thorough market, competitor, and viewers analysis. They should take a look at their merchandise’ viability, develop growth methods, and develop complete enterprise plans in the event that they hope to draw clients and traders.