Are you out on the weekend for a game of football or a pro bodybuilder just like the owner of this enterprise and need a daily dose of energy in liquid form.
Introducing- The kooler- the three-in-one cooler for storing and keeping your energy and supplementary drink cold and refreshing for you to drink and energize every time.
The Kooler at a glance:
| Business idea | Three-in-one cooler for storing and keeping your energy and supplementary drink cold and refreshing for you to drink and energize every time. |
| Founder | Stan Efferding |
| Asked for | $50,000 for 15% |
| Accepted deal | $50,000 for 33.3% |
| Sharks | Daymond John |
| Business status | Out of business |
| Episode | Season 12 Episode 2 |
Index:
Founder Story:
The pro behind this enterprise Stan Efferding found his calling when he developed this product. He has been a pro bodybuilder and has been known as the white rhino in the industry of weight lifting. After having a career that reached its peak he decided to create a portable cooler that would help sports professionals and amateurs alike. That is when this idea was born.
Did The Kooler get a deal on a SharkTank?
The White rhino was yet to come and here he was on a SharkTank seeking an investment of $50,000 for 15%. After giving a power-packed performance and demonstration of the product. The sharks were inspired to make an investment but could not let’s see if this weight lifter has some weight on the business.
Stan explains that he does have business acumen but faces difficulty in explaining the product and wants to sell the product to professional sports players as well as kids and families, with the help of an infomercial.
He has made sales of $120,000 in the past 16 months. Kevin is inspired and impressed by the skill but thinks the product is too niche, He’s out. Mark believes Stan doesn’t have a catalyst for the business even though he can sell the product well, Therefore he’s out. Lori cannot sell the product on QVC she’s out too. Robert loves the fact that the product can appeal to a larger audience but he’s still out.
Daymond is in a spin and gives a thought after which he offers $50,000 for 33.33%. Stan says he has to consult with the guns to come to a decision. After the consultation, he accepts the deal.
What happened to The Kooler after Shark Tank?
The company had a lot of help from Daymond. The product has seen a growth in sales as it has signed contracts with Walgreens 7000 stores but Walgreens says that there are flaws in the products if they are corrected then they are well on their way to success. The Kooler has also sold its product to the customer in HSN owned by Daymond. This has helped sell out the stock of inventory that Stan had.
Today as of 2021 The Kooler has redirected its website to the website of StanEfferding.com. This website has no information about The Kooler. The venture currently is out of business as it could not solve the flaws in terms of production.
Product details:
- Available in many colors.
- Has three compartments. One to store a gallon of water to keep ice cold, The second one to store a carbohydrate drink/supplementary drink, and the third to store an energy drink.
- The cost of making the product is $7 and the selling price is $32. 95 Now sells for $19.98.
- The website is not currently functional.
- The product is still sold on Amazon.
What is the net worth of The Kooler?
At the time of Shark tank appearance, Kooler was valued at $150,000. There is no information about the sales nor the net worth of this company as it is out of business currently.
Is The Kooler still in business?
No, the business stopped functioning and production for the product in 2021. The company has been selling the product on amazon since then and has no functioning website as of now.
The product had many flaws and therefore a short-lived life on the shelves of stores. Many customers would have loved the product but it could not solve the difficulties it was facing with help of Stan and Daymond. Today Stan is part of many podcasts and talks majorly about topics like sports and bodybuilding, still being an inspiration to all.
The Kooler social Links:
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FAQs:
What is The Kooler?
The kooler is the three-in-one cooler for storing and keeping your energy and supplementary drink cold and refreshing for you to drink and energize every time.
Who founded The Kooler?
The pro behind this enterprise Stan Efferding found his calling when he developed this product. He has been a pro bodybuilder and has been known as the white rhino in the industry of weight lifting. After having a career that reached its peak he decided to create a portable cooler that would help sports professionals and amateurs alike.