Kids hit the wall, and you need to carry your kids whether you want to or not. Nathan and Erick created a new option to carry their kids. They invented the Freeloader.
The Freeloader is an ultra sleek child seat carrier that holds up to eighty pounds. There is a five point harness to secure the child. The Freeloader puts your child in a chair held on your back safe and securely.
The shoulders work, the piggy back never works. Nathan and Erick designed the product as firefighters who know how to carry things on the back.
They want $110,000 for manufacturing 2,000 units and $90,000 for operational expenses such as trade shows.
Freeloader Episode Data
- Company: Freeloader
- Entrepreneurs: Nathan Jones and Erick Jansen
- Ask: $200,000 for 15% equity
- Episode Season 5 Episode 503
- Companies in this episode:
- First Aired: 10/04/2013
- Deal: Robert Herjavec $200,000 for 33.3%
What do the Shark Tank Investors say about Freeloader?
- Mark Cuban – says his son Jake is going to learn how to unbuckle and then smack you in the back of the head, and he will be in danger because he will get out. Mark thinks they need to invest into testing to avoid potential issues like what Mark suggested. They are not a product yet, they are a concept and too early, he is out.
- Barbara Corcoran – believes FreeLoader needs to be demonstrated, and parents don't want to carry kids. She thinks the window is too small and she is out.
- Kevin O'Leary – thinks even if it is perfect today, he has no idea as to what it will take to scale this product, and it is a hard road. He is out.
- Lori Griener – says this is like umbrellas when it is raining, everyone wants one. She would love to help them because they are fireman, but she is worried about the safety and liability issues. She is out.
- Robert Herjavec – made a lot of money by trusting your gut. he doesn't think they have assessed this situation enough. He doesn't think it is a company today, but it is a journey. He sees it as a partnership, he says $200,000 for a third of the company. Robert thinks it is a great product. They have a deal.
Freeloader after Shark Tank
Nathan and Erik did not complete the deal with Robert Herjavec after the show because they felt it was too much equity to give up. They are working on licensing deals, and selling on their website as well as on Amazon. They continue to grow the business.