Are you a sports fanatic who has gotten bored of the old and traditional styles of trophies?
Well then, Trophy Smack has got you covered, with its customizable trophies and new designs, the products are sure to stump you off!
Trophy Smack at a Glance:-
| Idea | Customizable sports trophies, belts, and rings |
| Founders | Matt Walsh and Dax Holt |
| Asked For | $600,000 fir 8% |
| Accepted Deal | $600,000 for 17% |
| Sharks | Mark Cuban |
| Business status | In Business |
| Episode No. | Season 12, Episode 9 |
| Buy on Amazon | Buy Now! |
Index:
What is Trophy Smack?
Entrepreneurs Matt Walsh and Dax Holt founded Trophy Smack, a company that specializes in manufacturing custom-made fantasy sports trophies, belts, rings, and many other sports-related memorabilia.
Every year, over 50 million Americans indulge in fantasy sports, and that too for the coveted champion trophy. Trophy Smack is here to enhance this experience by customizing over-the-top trophies that scream “Champion” from miles away.
Founder Story:
The owners of Trophy Smack state the origin of their company was their love of sports and dissatisfaction with the traditional trophies.
They wanted to create a brand that not just made trophies for the sake of making them but actually made them with fresh and out-of-the-box designs.
Walsh is the business development professional dealing with supply chain and Holt is the producer, reporter, writer, and on-camera expert who was one of the founders of TMZ.
Matt also won The FSGA Elevator Pitch, a pitch contest for fantasy sports league-related products in 2018.
Did Trophy Smack get a deal on Shark Tank?
Matt and Dax entered the tank seeking an investment of $600,000 for 8% equity. They started their pitch by showcasing their products and explaining their financial terms.
The owners had invested $60,000 as an initial investment and reached sales of $850,000 in their first year itself. By the next year, they catapulted to sales of $1.9 million with a striking profit of 80% which went to $650,000 even in the pandemic year.
They also said that they want to expand their business in the employee recognition sector as well.
The major feature that garnered Sharks’ attention was the system that Trophy Smack had innovated in order to reduce the assembly costs of the products, giving them a competitive edge over other companies.
The Sharks Daymond, Kevin, and Mark were very interested in the product.
Though Daymon liked the idea and the product, he simply couldn’t match the valuation and hence, decided to drop out. Kevin and Mark made offers for $600,000 for 20% and 17% respectively. The duo then decided to seal Mark’s deal.
What happened to Trophy Smack after Shark Tank?
After their episode aired on national television, Trophy Smack got its deserved clout immediately. They instantly became the favorites of a lot of fantasy league houses.
Their deal with Mark Cuban was sealed a year after it was finalized, due to some technical issues.
Ever since its investment, the company has been making record-breaking sales, it made around $1.2 million the month after the Shark Tank episode was released.
The company has been recognized on several instances and has received Fantasy Sports and Creating Awards. So far, the company has made lifetime sales of $10 million.
Product Details:
- It is an online store for fantasy sports customizable products.
- The store manufactures trophies for league winners, championship belts(akin to WWE belts), and “bling” which is the custom championship ring.
- They have an average product price of $100.
- The company creates trophies for all fantasy sports including football, basketball, baseball, and soccer.
- Their products are customized in-house with quick shipping and all the products can be customized flexibly according to your likes and needs.
What’s the net worth of Trophy Smack?
The owners of Trophy Smack entered the tank with a demand of $600,000 for 8% equity, valuing the company at $7.5 million.
They walked away with a deal from Mark Cuban, which was $600,000 for 17% equity, reducing the valuation to $3.5 million.
Currently, Trophy Smack is doing extremely well and is running at an annual revenue of $1 million as of July 2021.
It achieved lifetime sales of $10 million a few years back, so it is estimated that the company’s Net Worth is also around the range of $10 million
Who are the competitors of Trophy Smack?
Trophy Smack competes with other Trophy manufacturing companies such as:
- Souvenir Trophies
- NFL Trophies
- Trophy Rush
- Trophy-A-Bration and many more trophy manufacturing giants.
Is Trophy Smack still in business?
Yes, Trophy Smack is still in business and has managed to get a good grip on the billion-dollar sports market. The business is doing pretty well and even their investor Mark Cuban is delighted with his investment and associativity with the brand.
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FAQs:
What is Trophy Smack?
Trophy Smack is a company that specializes in manufacturing custom-made fantasy sports trophies, belts, rings, and many other sports-related memorabilia.
What's the net worth of Trophy Smack?
The company has an estimated Net Worth of $10 million