The most crucial obstacle that the players on a football field have to face is staying hydrated at all times. Hydromax is the solution to this problem. Hydromax is a device designed to keep athletes hydrated during a game.
Hydromax can be attached to the shoulder pad with the help of Velcro and is protected by a case to ensure that the sixteen-ounce pouch of water can stay put between the shoulder pads. A tube comes with the device for easy access to water for the players. Hydromax is designed in such a way that it would not tangle around a player’s neck. The product costs $8.5 to manufacture and is sold for $49.99 in retail stores.
Hydromax at a glance:-
| Business Idea | Hydromax -keeps you hydrated |
| Founders | Chris Spencer |
| Asked For | $50,000 for 25% equity |
| Accepted Deal | $50,000 for 50% equity |
| Sharks | Jeff |
| Business status | In Business |
| Website | Hydromax |
| Episode No | Season2, episode 7 |
Index:
Who is the founder of Hydromax?
Chris Spencer from Houston, Texas, is the founder of Hydromax. Always passionate about starting his own business, Chris first started Hydromax in 2007 but after getting married, he had to join the corporate business world as a safe option to support his family. In 2011, Chris decided to get a distributor, business partner, and finance for Hydromax. Hydromax is a patented product.
Did Hydromax get a deal on Shark Tank?
Chris entered Shark Tank with a young boy Ethan, who was there to help him demonstrate the product to the sharks. He pitched for $50,000 for 25% equity in the business. In 2007, Hydromax had earned $100,000. Jeff Foxworthy liked the product’s design.
Kevin O’Leary was out, saying that he wanted to do something for athletes’ protection and he did not want to face a huge challenge. Daymond John was not convinced with the valuation and was out. Barbara Corcoran said that she didn’t have the time or contacts needed and hence, she was out too. Robert Herjavec was not ready to put in the required hard work and was out. Only Jeff was left in the tank.
Chris revealed after being questioned by Jeff that the product was used in The Hula Bowl, a football tournament, in 2007. Jeff offered $50,000 for 50% of the company and after some thinking, Chris accepted the offer with a huge smile on his face.
What happened to Hydromax after Shark Tank?
On the show, the deal was made between Jeff Foxworthy and Hydromax. Chris’ product got a rise after his appearance on the show Shark Tank. Jeff Foxworthy’s expertise and financial support helped Hydromax’s expansion in the market and created a need for it, especially among high school students and football players. Few professional footballers started using Hydromax which includes Dallas Cowboys and the San Diego Chargers and it was also made available on its website.
After the show, Chris left his corporate job and became CEO of his company. Jeff Foxworthy had also received a huge return on his investment. Hydromax had done great. Unfortunately, later, Hydromax was not able to maintain its position, and the company got closed. In 2021, Chris is working as a Senior Business Account Executive with T-Mobile
Competitors of Hydromax
Some of Hydromax’s competitors are:-
- UniTek Global Services
- Wachs Water Services
- ORI
- Holland Board of Public Works
What is the net worth of Hydromax?
At the time of the shark tank’s appearance, Hydromax was valued at around $100,000. Hydromax previously peaked its revenue at $2million annually.
Is Hydromax still in business?
After the show, Chris left his corporate job and became CEO of his company. Jeff Foxworthy had also received a huge return on his investment. Hydromax had done great. Unfortunately, later, Hydromax was not able to maintain its position, and the company got closed.
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FAQs:
What is Hydromax?
Hydromax can be attached to the shoulder pad with the help of Velcro and is protected by a case to ensure that the sixteen-ounce pouch of water can stay put between the shoulder pads.
Who founded Hydromax?
Chris Spencer from Houston, Texas, is the founder of Hydromax. Always passionate about starting his own business, Chris first started Hydromax in 2007 but after getting married, he had to join the corporate business world as a safe option to support his family.