Biz Tips: Shark Tank: Shower Toga Accepts $80,000 From Mark Cuban and Alli Webb

Biz Tips: Shark Tank: Shower Toga Accepts $80,000 From Mark Cuban and Alli Webb

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Shark Tank: Shower Toga Accepts $80,000 From Mark Cuban and Alli Webb

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What would you do if you love going on mud runs but hate showering in public after they are over? If you’re Kressa Peterson you develop a product to solve this problem, travel across the country and market it to other outdoor athletes yielding $80,000 in sales since November. Kressa came to the Shark Tank in hopes of securing an $80,000 investment in her company, Shower Toga, in exchange for a 33% equity share.

Before Shower Toga, there was not a good way for runners, hikers, bikers, surfers or festival goers to shower or clean-up in public without giving up their privacy. The Shower Toga allows the user to change and shower while remaining covered at all times. After they shower and change into fresh clothes, the Shower Toga transforms into a duffel bag to carry their dirty clothes, protecting their vehicle from getting muddy too.

Currently, the Peterson family is traveling around the country selling their product at races or outdoor events where their product may be of interest. As they grow, they would like to market to the actual companies that organize these large events and have them invest in bulk order purchases to give away or sell at their events. They have received their first PO from one of the largest race companies in the US for 1,000 units. They also are also interested in marketing to elderly consumers who do not want to undress in front of their caregivers, as well as disaster relief programs and agencies such as FEMA. During natural disasters, citizens are typically stranded in the same clothes for several days or weeks at a time. This can cause deaths that are tied to hygiene and infection after the disaster occurs.

The Sharks are impressed with the margins on the Shower Toga as well as Kressa’s entrepreneurial spirit and ideas for the expansion of her product into new markets. The Sharks feel that she is truly passionate about her product and has what it takes to make the company work long term. She doesn’t take ‘no’ for an answer and isn’t afraid to stand up to the Sharks, even Kevin! Mark and Alli decide to go together on an offer of $80,000 in exchange for 40% equity in Shower Toga. They would like to change the product name and make some upgrades to educate the market. Kressa accepts and is very excited to be able to work with two Sharks!

How do you feel about Mark and Alli’s investment? Would you use the Shower Toga? Are there additional markets that you think they are missing out on? Sound off in the comments below!

For a full summary of this episode, check out this article. Shark Tank airs on Sundays at 9:00 PM EST.

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