Ever gone for a trip on the river and entered the water for fun, later hunger strikes and you don’t want to get out of the water and need a solution. The first-ever device that floats on water and grills food for you then and there.
Presenting the company behind the product Float and grill. Started by Mikey Bashawaty and Jeremy Quillico. It has got a lot of presence online and followers are in the millions.
Float and grill at a glance:
|Portable grill that floats on water for sea parties.
|Mikey Bashawaty and Jeremy Quillico
|$200,000 for 20%
|$100,000 + $100,000 loan for 22.5 % +50% of licensing deals
|Season 12 and episode 14
|Float and grill
|Buy on Amazon
The idea behind this product came as more of a surprise for both the founders Mikey Bashawaty and Jeremy Quillico. They once had an issue regarding the fact that hunger strikes when they were in the water, they didn’t want to come out of the water for food and that is when the owner Mikey created the product and to their surprise, it worked. The two of them next went on to license the product and develop the supplies for manufacture.
They soon saw the craze and need for the product as they liked a video about the product that went viral. Today the product has many distinct features that help the product stand out. They also had a campaign in which they raised $862.
Did Float and grill get a deal on Shark tank?
The deal for the two entrepreneurs came as a real surprise as they entered the shark tank seeking an investment of $200,000 for 20%. The product is shown off and the sales are asked for but the results disappoint the sharks. The product cost $126.88 to make and retails at $299. Their sales till the year 2020 have been $19,400 which makes Kevin worried the most.
Daniel is the one to play smart and use the patent for a license he could make with Weber, he tells the two of them that he will set up a meeting with Weber and the licensing deal will be done. The deal he offers will be $ 200,000 for 50%. Mikey counters the deal and makes it complex. He offers $100,000 loan at 7% , $100,000 for 20% equity and $2 per item sold as royalty.
Daniel stands firm on fifty but gets to know there are other investors involved in the product and the highest they can go for a deal is 22.5%. Daniel changes his offer to $100,000 at 22.5% of the company and a $100,000 loan at 7% interest and 50% of licensing deals. Then, both accepted the deal.
What happened to Float and grill after Shark tank?
The product looked grim from a sales view, as the company was out of inventory in March 2021. Today they have revived their inventory and made a sale of $1.2 million to date. There is no information about any deal closing with Daniel. The products are available on Amazon and on their website for sale.
- Comes in two colors: Red, and blue
- The dimensions of the product are as such: 35. 5 inches in length by 26. 5 in width by 6. 5 inches in height
- The weight of one grill is 9 pounds
- The two entrepreneurs still have full-time jobs.
- Made up of HDPE plastic, guaranteed to be safe.
- Has UV protection on the plastic to allow the colors to stay and shine bright.
- Come with built-in cupholders: 3, Tow hooks: 2.
- Has a built-in igniter.
- Designed grease trap to keep the mess out of the water
- A dual latch lock keeps the lid tightly on the grill.
What is the net worth of Float and grill?
The net worth of the company is estimated at $1.2 million as of now. The company is doing the same number of sales till now.
Is Float and grill still in business?
Float and grill have grown from $19,400 in sales to $1.2 million in sales now which is phenomenal. The company has not many deals of licensing and no deal was closed with Daniel after the shark tank. Now the product is available on Amazon and its own website. Let’s see how this grill on the waves makes the sandbar community party in the future.
The future of this company can expand but there are no plans of bringing the product abroad. The sales need to grow, and work needs to be done to introduce new colors to the grill of the waves. Let’s see how this grill on the waves makes the sandbar community party in the future.
Float and grill social links:
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What is Float and grill?
Float and grill is a Portable grill that floats on water for sea parties.
Who founded Float and grill?
The idea behind this product came as more of a surprise for both the founders Mikey Bashawaty and Jeremy Quillico. They once had an issue regarding the fact that hunger strikes when they were in the water, they didn’t want to come out of the water for food and that is when the owner Mikey created the product and to their surprise, it worked.