HyConn: What Happened After Shark Tank?

Only a firefighter understands what’s a “second” worth as it can save many lives. Let it be business or forest or home on fire, every second matters to put out the fire. During the firefighting process, one of the things that takes the longest is connecting the water hose to the fire hydrant.

With HyConn, the firefighter can finish the task of connecting the hose to a hydrant in three seconds or less with no threading or wrenching. Isn’t it easy, fast, and safe too to save the most needed lives? The user does not need to worry about the water pressure handling of the connector as it is already tested and proven at 1000 psi.

HyConn at a glance:

PRODUCT	Hard Hose fast connector for various Fire Hydrants
FOUNDER	Jeff Stroope
Investment PITCH	$500,000 For 40%
DEAL	$1.25 Million for 100% stake + $100,000 each year for 3 years for 7.5% Royalty
SHARK	Mark Cuban
STATUS	Out Of Business
WEBSITE	HyConn

Index:

Founders Story:

When Jeff Stroope’s saved many homes from a fire in Texas as Firefighter he realized some could not be saved as the time taken to connect the hydrant to the hose took time. Every second matters in such cases as it saves lives. Jeff came up with a fantastic way to design HyConn. The product allows firefighters to use to save fires faster but also at home.

The HyConn which is designed for the home has a connector to attach garden hoses to spigots in an easy and quick fashion. HyConn can connect to a hydrant in 3 seconds or less whereas a traditional mechanism to attach a hose to a hydrant takes almost 30 seconds. This is a key aspect that causes a lot of delay in case of stopping fires. A quick video that demonstrates the easy, fast, and safe way of connecting a Hy-Conn.

Stroope was a full-time captain of the fire brigade and maintenance supervisor. It was a very demanding role and did not allow enough free time so he worked really hard during the nights and weekends to give shape to his idea. Stroope had already invested 11 years of his life in the creation of HyConn before he pitched this idea in Shark Tank for investments.

The profession of firefighters is undoubtedly worthy of respect. On International Firefighters Day or other special anniversaries, people can make custom challenge coins to the fire department to express their high respect and gratitude to firefighters.

How was the HyConn Shark Tank Pitch?

Jeff Stroope in his Shark Tank appearance pitched for $500,000 for 40%. Stroope demonstrates the product and he also explains how fast it is. Robert questions the adoption of how he sells it just by stating it’s fast enough. Recently been able to get 4 hard Purchases and some in the paperwork stage. Stroope clarifies the smaller unit is $215 and the larger one for streamer valves for $385.

Barbara is not convinced that this 10+ second faster proposition will bring market from the government as they are already working with budget constraints. Kevin enquires if the Firefighter uniform company can distribute this and Stroope explains they want him to finance if they are willing to distribute it.

When Robert inquiries, I have a tough time connecting to garden hoses and Stroope shares his product prototype for home use from his pocket. The entire shark team is awestruck by the idea and even Daymond checks if is there anything else in your pocket. This home connector was a game-changer for sharks as it opens up a huge market for retail users.

During the negotiations, Mark Cuban makes the first offer of $1.25 million for 100% and quickly Kevin cuts him off with his deal of 500,000 USD, and fierce competition peps in. Finally, Jeff goes with Mark Cuban offer and seals the deal of $1.25 million and 3 years of employment worth $300,000 to buy the company with a 7.5% royalty.

Competitor’s analysis:

Storz Connectors were one of the competitors already in this niche market. Currently, there are many Quick Connect products for retail use from HQMPC, Melnor, Gorilla, etc.

Product Analysis:

Hy-Conn product is available in two editions :

Pro-Edition: Works with all types of Hydrants and various hose sizes. Sizes available in: 2.5”, 4.5” and 5” Pro Edition variants.

Home Edition: It works with the standard garden hose sets in one quick motion. Made of durable plastic of high quality. Available in Aluminum and Fiberglass.

What Happened to HyConn post-Shark Tank?

Post the Shark tank deal, Jeff and Mark had a few conversations especially on licensing the manufacturing design to be outsourced for mass production. This did not get Jeff’s proposal and the deal fell through between the two.

The venture firm took part in HyConn investment and finally received the patent in 2016. Currently, when you visit the HyConn website all the information is available on the product but no offer is there for sale.

HyConn net worth:

The company was worth a valuation of $5 million in 2015 but is currently out of business. The company website of HyConn is functional to view the products and videos on the working aspects but one cannot place a sale on the same which shows Sorry, this shop is currently unavailable for shopping right now.

Interesting facts:

Hy-Conn works on 1000 psi and has been tested almost 1000 times.
Connect to any Hydrant – fast, safe, and easy to use.

No Threading or Wrenching is required to fit this product which is really cool.

Is Hy-Conn out of business?

HyConn is currently Out of business. One of the great designs to save lives using the Hose connectors did not find its destiny as there are deals that fall through the cracks in spite of deal agreements in future negotiations and differences in style, and approaches.

Jeff, with his 11 years of hard work invented Hy-Conn but could not meet the business heights which is unfortunate.

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Locker Board: What Happened After Shark Tank?

What is HyConn?

With HyConn, the firefighter can finish the task of connecting the hose to a hydrant in three seconds or less with no threading or wrenching.