SwimZip Shark Tank Pitch
SwimZip is a sun protective swim line. Betsy and Berry want to keep their kids safe from the sun. That's where their swim line comes inn. They block 98% of UV cancer causing rays, and their suits zip up, making it easy for kids to dress themselves.
SwimZip comes with a top and bottom. First year sales were $18,000 and the sales for the pitch year are $225,000. The profits are $100,000. Cost to make is $5-7 the product.
Mark asked if there is anything unique about the material, and the design and the zipper is what is unique. They are also in at a lower price then the competition.
Betsy started the company at 26 because she had skin cancer, and she is on a mission and it is her passion to protect the children.
SwimZip Shark Tank Episode Data
- Company: SwimZip – Website
- Entrepreneurs: Betsy Johnson and Berry Wanless
- Ask: $60,000 for 5% equity
- Episode Season 5 Episode 515
- Companies in this episode:
- SwimZip
- FitDeck
- LifeCaps – Survival Pill
- Freshly Picked
- Daisy Cakes – Featured Update
- Sharks:
- First Aired: 01/24/2014
- Deal: Lori Greiner $60,000 for 20% equity
What do the Shark Tank Investors say about SwimZip?
- Mark Cuban – says Betsy is a beast, but they are still a family business and they haven't broke out yet. It is more difficult to ignite. He is out.
- Daymond John – tells them that they need to stay with the boutiques, and not go into Target. He sees that they made it past the hardest point, but it is still too early for him. He is out.
- Kevin O'Leary – asks Daymond John if he could do this for $500,000 and he answers, yes. He is out.
- Lori Greiner – was a one man band for five years, and she is sitting there today. She sees a lot of that in Betsy. She is willing to make her in offer for $60,000 for 20% equity. Lori wants to go in Target but at terms that won't hurt them. Betsy counters Lori asking her to do $120,000 for 20% equity. Lori said she is not changing her number and wants her to prove she is the right person.
- Robert Herjavec – says $225,000 is nothing to laugh at, and if they knew all the things that they should be afraid of, they would have never started. He is struggling how this goes from a little boutique business to millions of dollars. He is out.
SwimZip after Shark Tank
SwimZip scored a deal in the Shark Tank pitch with Lori Greiner, but I don't think this one closed after the show. Their is no connection to SwimZip from Lori's site, and the SwimZip blog and store do not look like they are done with Lori's touch. That said, SwimZip has an extensive online store, and is available in many retail locations.