About Coffee Joulies
Coffee Julies consist of stainless capsules that you drop into your coffee to keep the right temperature longer. Dave Jackson and Dave Petrillo ran a Kickstarter campaign to fund their product, seeking around $9,000, but they ended up raising over $120,000 in their 30-day campaign.
Reviews for Coffee Julies suggest that for them to work correctly, use of the recommended thermos makes the difference in having a satisfactory outcome.
Coffee Julies Shark Tank Pitch
Coffee is never the right temperature. Most serve it around 185 degrees Fahrenheit and you wait for it to cool. Coffee Julies absorbs extra heat from your coffee and make it a drinkable temperature within minutes, and it releases the stored heat and keeps it up to twice as long.
Coffee Julies has a vacuum insulated travel mug. Pour in hot coffee at any temperature, and it will be at the ideal temperature within five minutes, lasting over five hours.
The right temperature to drink coffee is 140 degrees. The material inside the travel mug reduces to high a temperature bringing it down to the ideal temperature. The coffee Julies absorb the heat and bring the temperature to 140 degrees. They have a patent on this product.
Coffee Julies has the most traffic as a gift item, and one Coffee Julies cost $3.75 to make. They are selling for $50 for a set of 5. They generated $575,000 last year with online sales. Profit on the books is $50,000 after expenses. They are forecasting over a million in sales for the current year during the pitch.
Coffee Joulies Episode Data
- Company: Coffee Joulies
- Entrepreneurs: Dave Jackson and Dave Petrillo
- Ask: $150,000 for 5% equity
- Episode Season 4 Episode 413
- Companies in this episode:
- Coffee Joulies
- Teddy Needs a Bath
- SubZero Ice Cream
- Litter Featured Update
- Mark Cuban
- Daymond John
- Kevin O'Leary
- Lori Greiner
- Robert Herjavec
- First Aired: 01/10/2013
- Deal: Kevin O'Leary Daymond John, Lori Greiner, and Robert Herjavec. $150,000 with a royalty of $6 per unit on Retail orders, $3 for wholesale orders until the original investment pays back. The royalty goes to $1 on all units for perpetuity after that.
What do the Shark Tank Investors say about Coffee Joulies?
- Mark Cuban – Offers $250,000 for 12% equity and you don't go retail right away. The first red flag is a perpetual royalty. He sees the company needs to be liquid.
- Daymond John – says they have been gracious enough to offer the Sharks 5%; he is out. Daymond John comes back in joining Kevin O'Leary, Lori Greiner, and Robert Herjavec
- Kevin O'Leary – tells them he doesn't know how to value the company, and they are so far apart. He offers $150,000 for a royalty of $6 per unit until the $150,000 is recouped. Than $1 royalty on each unit sold in perpetuity. Kevin O'Leary changes the per unit from $6 on wholesale orders to $3 until paid back.
- Lori Greiner – offers to go in on the deal, offering it on QVC
- Robert Herjavec – offers to join the deal, helping it to get into retail. Robert Herjavec thinks his manufacturing cost is too high, and they need to change the offer on the per unit royalty before the initial amount paid back.
Coffee Joulies after Shark Tank
It appears the deal made on the show never closed, after the show, but that has not stopped them from selling Coffee Julies online. They have additional products on their website, and they are no longer selling on Amazon. The Feedback rating appears quite low compared to most companies selling on Amazon.