“Momtrepreneur” Bobbie Rhoads created Funbites to solve a problem: she had a picky eater. She created Funbites to quickly cut food up into small pieces so her daughter would eat it. She found that her daughter would eat healthier food if it was “fun” and bite-sized, so she created her product to solve this problem – one that many parents encounter. She'll pitch Funbites to the Sharks in Shark Tank episode 615.
Funbites is a curved blade cutter that cuts kids' food into bite-sized pieces. They come in a variety of bright colors and in different geometric patterns – including hearts. The product can be found in dozens of mom and pop stores in over 20 states and 10 different countries. You can also buy Funbites on Amazon. Each Funbites will set you back 13 bucks or 30 bucks for a three-pack.
Funbites is made from BPA free plastic and is 100% made in the USA. Rhoads, who started the business in mid 2011, likely wants a Shark's help to “go big” and get into big box stores.
Will a Shark take a fun bite out of this business and invest?
FunBites Shark Tank Recap
Bobbie enters seeking $75K for 20% equity. She explains the product. Studies have shown, kids will eat food if it's in fun shapes. Bobbie hands out samples and invites Mr. Wonderful to try it. He gives it a “wow.” Lori tries it too, but she's clumsier than Mr. Wonderful.
Bobbie has $400K in sales in three years. She just got picked up by Target from a trade show. She was in Kohls and Bed Bath and Beyond, but had bad packaging and didn't sell through. She just re-did the packaging. She's going back to Kohls, but in the kitchen section. Funbites cost $1.70 to make, she wholesales for $6, and it retails for $12.99.
Bobbie had a lot of interest at a recent trade show from Marvel and Disney. Bobbie says she tried to get on the show for three years and she needs a Shark to open doors to big retail and licensing. Autistic kids love the square Funbites.
Kevin says he doesn't see world domination in food slicing, he's out. Robert cut his kids' food when they were little, but he used a knife; he's out. Daymond offers $100K for 30% and he says he'll hustle for licenses. He tries to get her to decide right away and she says she's waited three years to get on the show, she wants to hear all the offers. Lori says she has a special section in Bed Bath and Beyond and announces “it's deal time.”
Lori says she has all the relationships with the stores and she wants to get it out everywhere. She offers $75K for 25%. Daymond counters with $100K for 25%. Bobbie goes with Lori! Mark says it's not too late to change her mind – he has an offer. Bobbie asks Lori if she'll take Mark on and Lori says NO!
RESULT: DEAL with Lori for $75K for 25%
FunBites Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on FunBites and Bobbie Rhoads as more details become available.