Matt Scarpuzzi pitches Fire Sprinkler Tools in Shark Tank Season 5. Billions of dollars of damage are caused by fire sprinklers water damage from accidental activation.
The Quickstop Fire Sprinkler Tool you can stop the sprinkler head from doing water damage. Matt is a firefighter, and his company carries this tool.
QuickStop Fire Sprinkler Tools minimizes water damage
The only fire sprinklers that go off are the ones nearest to the heat source. The others remain unactivated until the heat reaches each one, or one is accidentally hit.
Lori Greiner had sprinklers go off and send black sludge over everything and keeps going until you shut it off.
Fire departments do not have tools to turn off the sprinklers.
Matt has sold $18,000 worth of the QuickStop tool in the previous six weeks at the cost of $25 each to manufacture, and retail for $89.95.
Robert wants to know if fire departments are going to put one on each truck. Matt responds that it is one truck, but building owners and maintenance companies are buying them.
He has a second product, that is for the home. It stops fire sprinklers and other plumbing leaks for the consumer.
Matt also designed a pole to get the QuickStop Fire Tool to the Sprinkler.
Company: Fire Sprinkler Tools
Entrepreneur: Matt Scarpuzzi
Ask: $150,000 for 10% equity
Companies in this episode: Taylor Robinson Music, Funtime Express, PowerPot, Quickstop Fire Sprinkler Tools
Season: Season 5 Episode 524
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 04/11/2014
Deal: Matt declines giving up 50% of the deal to Kevin O'Leary and Lori Greiner.
What do the Shark Tank Investors say about Fire Sprinkler Tools
Mark Cuban wants to know why the price is only $89.95? Why not charge more? Why don't you cost $299 for your QuickStop tool? Matt answers because he is a fireman and not a businessman.
Daymond John sees the challenge with the QuickStop Fire Sprinkler Tools is education. Daymond can't help him with this so, he is out.
Kevin O'Leary demands 25% for the other half of the deal. He encourages Lori to step up to 25%.
Lori Greiner decides to make him an offer, but she thinks there is a lot of risks. She is offering him half, which is $75,000 for 18%, and he will have to give another Shark 18% for $75,000. Lori agrees to go to 25% on this deal with Kevin.
Robert Herjavec thinks it is a brilliant design, but he doesn't believe there is a consumer market. He will sell one to every fire department, but he doesn't think it is a big enough market.
Fire Sprinkler Tools after Shark Tank
Matt is selling Fire Sprinkler Tools on Amazon as well as direct. The price is still at $89.95 for the tool, so Matt did not follow the advice of the Sharks. He is passionate about helping to solve this problem.