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Shark Tank Guest Star Rohan Oza Returns!

Shark Tank Guest Star Rohan Oza returns! Check out the recap of his second appearance this season!

Sharks looking to invest: Barbara Corcoran, Mark Cuban, Kevin O’Leary and Robert Herjavec and guest shark Rohan Oza

Happy Friday Shark fans! A couple weeks back, Shark Tank guest Star Rohan Oza returned for a second appearance! Rohan is the marketing genius behind some of America’s favorite multi-million dollar brands like Vitaminwater and Snickers. Read on to see what insight he had to offer this batch of shark bait!

iFork

Kyle Donovan from Brooklyn, NY introduced iFork, a solution to an awkward party problem. Standing around at a barbecue with full hands results in the clumsy search for a place to set down a full cup while eating. iFork is a compact meal system that consists of an interlocking cup, plate, and fork, giving users one hand free.

Guest Shark Rohan Oza, iCup iPlate iFork 8 Pack Combo - Clear, intelligently designed Cups and Plates by iFork

Asking Investment Terms:

$100k for 5%

Product Positioning

While the “two-hand shuffle” is definitely a problem, it may not be a problem that consumers are willing to spend money to solve. The iFork could definitely be classified as a nice to have, although consumers who entertain often or plan events for a living would benefit greatly from this.

How We would have Helped:

The iFork’s packaging is in a desperate need of a redesign. Since it’s a product meant to save space by compartmentalizing, the packaging should display compact portability. Our design team could design a packaging and display concept with a sleek, space-saving profile that would work well with a hang tab. This would avoid it being piled on shelves, creating a streamlined in-store visual.

What the sharks said:

In Rohan’s opinion, the real problem that iFork solves is a place to hold an open cup while eating. While Lori praised the actual product, calling it clever, all of the sharks agreed with us (Mark in particular) that the packaging is definitely a weak spot.

Conclusion:

While most of the sharks seemed to think that the iFork is a smart and quirky product, no one seemed eager to offer a deal. Perhaps because of her success with homewares, Barbara was the first shark to step up, proposing $100k not for 20%. Not one to accept sticker price, Kyle boldly countered with a 15% stake instead a risky move without sales to prove credibility.Luckily for him, Barbara was willing to give him a chance and he walked away with $100k for 15%. Good thing he’ll have a free hand to hold all that cash!

Stasher

The Stasher is an eco-friendly alternative for cooking, freezing and storing, created by Kat from Oakland, CA . It can be frozen, microwaved, put it in the oven and is dishwasher safe. The stasher functions easily, with pinch-to-seal closure and is constructed of pure platinum silicone without any byproducts. Several sizes are available ranging in price from $9.99-$19.99.

Shark Tank Guest Star Rohan Oza, Stasher Bag Food Storage

Asking Investment Terms:

$400k for 5%

Product Positioning:

Effective food storage is something that’s always needed, making the stasher part of a market that’s likely to experience growth. The stasher allows consumers to cut out the middleman between cooking, freezing and storing. A product like this would likely be appealing to adults with active, busy lifestyles, especially moms.

What the sharks said:

All of the sharks agreed implicitly on one thing-the stasher’s story is not conveyed on the packaging. Due to this, Robert said that he didn’t understand the Stasher’s advantages and wasn’t able to get excited about it. Rohan agreed, saying that it appeared to be only for vegetable storage. Similarly, according to Barbara, without any mention of the various health benefits, the stasher just appears as a high priced bag and both sharks dropped out.

How We Would Have Helped:

For a product like the Stasher, something very basic could make a monumental difference. Due to this, we would love to have Kat sit down with our creative and marketing teams. Determining a concrete set of features and benefits would enable us to help create a story and produce compelling marketing materials. A product with so many health benefits has the opportunity to appeal to several different markets and well-developed marketing materials would help reach them all. 

Conclusion:

It didn’t matter what sharks were interested in the contender-Kat made it awkwardly clear that her primary focus was Mark. Although Robert and Barbera had already withdrawn, she didn’t bat an eyelash when Lori and Rohan followed suit. Kat must have known something that no one else did, however; after less than two minutes of intense bargaining, the two met at $400k for 15% and a 400k line of credit. Definitely something to stash away for a rainy day!

Recharj

Next, Daniel introduced a new concept clearly formed from the stuff dreams are made of. Recharj is the name of Daniel’s power-nap studio, situated in the heart of Washington D.C. Though studies have long shown that power naps can increase productivity, workplace naps are frowned upon (for some odd reason). Recharj is a powernap studio outfitted with ultra-comfortable nap “cocoons”.  Ambient lighting, comfortable linens, sound dampening drapes, lilac scent and more are integrated into these cocoons to encourage a peaceful powernap experience.

Shark Tank Guest Rohan Oza, Recharj Nap Studio

Asking Investment Terms:

$75k for 15%

Product Positioning:

Although kindergarten is the only place where daytime naps are socially acceptable, we have a feeling that more than just a few adults would likely take advantage of this service. At $9 for a 25-minute power nap in a comfortable, ambient environment, this is something that would likely do well as a service.

How We Would Have Helped: 

Although Daniel called Recharj’s flagship store a “short-term loss leader”, at the bottom line, it’s still losing capital. From moving to a more cost-effective facility to installing energy efficient appliances, there’s a host of changes that could be made to economize Recharj’s operations. At this stage in the process, it will be difficult to make observations about necessary changes for the service itself, so making changes in other areas might help to balance Daniel’s cost/revenue scale.

What the Sharks Said/Conclusion:

Unfortunately, Daniel wasn’t able to secure a deal; he didn’t seem to be able to construct a very solid case for Recharj.  Right off the bat, Mark lost patience with the economics. After comparing money spent versus the revenue and business model, he threw up his hands and pulled out. Rohan dropped out as well, stating accurately that although it’s a great product, the revenue simply isn’t enough to sustain the costs.  Meanwhile, Robert suggested that fundamentally, most people in America don’t have the luxury of being able to leave their job to go take a nap. (The spirit is willing but management might disagree.)

Detrapel

Life is messy but 19-year old David, creator of Detrapel is aiming to make it a little less so. Detrapel is a superhydrophobic liquid repellant spray-in other words, it repels liquids! Spray Detrapel onto any fabric for a comfortable, non-toxic barrier that repels liquids and prevents stains. Detrapel is water-based, 100% eco-friendly and incredibly, one treatment lasts for an entire year.

Shark Tank Guest Star Rohan Oza, DetraPel Fabric & Leather Protector

Asking Investment Terms:

$200k for 20%

Product Positioning:

This is by no means a niche or specialty product. Young or old, everyone can use a hand to keep things pristine.  From toddler’s with brand new shoes to the businesswoman in a snowy button down, all consumers could find a use for Detrapel.

How We Would Have Helped:

Although David was adamant that no other company would have the knowledge or ability to recreate his formula, you can never be too careful. Idea Buyer’s world-class patent attorneys would encourage him to complete a thorough patent search to prevent any protection issues down the line. In addition, it would be a good idea to begin filing international patents, in the event that Detrapel’s growth leads it to become a worldwide brand.

What the Sharks said:

Detrapel isn’t the first product of it’s kind so Lori was perhaps correct in saying that David needed to move into the market quickly. Mark seemed skeptical about David’s claims that no other company could recreate his formula. Robert backpedaled after finding out that there is currently no patent filed for Detrapel, although David was confident that Detrapel cannot be reproduced.

Conclusion:

It’s safe to say that Detrapel wowed all of the Sharks! Mark and Lori both offered $200k for 25%, prompting David to suggest a partnership. Rohan and Robert also proposed a partnership for a slightly sweeter 23%. Possibly prompted by Lori’s success with infomercials, David locked down a deal with the latter duo.

What an amazing show! All of the featured products on this episode of Shark Tank have amazing potential to become household names. Which one was your favorite?

The post Shark Tank Guest Star Rohan Oza Returns! appeared first on Idea Buyer - We Turn Ideas Into Businesses™.



This post first appeared on New Product Commercialization, please read the originial post: here

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Shark Tank Guest Star Rohan Oza Returns!

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