Hydromax

hydromaxChris Spencer brings his Hydromax system to the Shark Tank in episode 206, hoping his product can wet the Sharks' appetites. The system is designed to fit under a football player's pads, and delivers liquid through a drinking tube to the player while on the field. The instant access to liquid helps prevent players from becoming dehydrated, especially while playing in hot weather.

Spencer has patented his invention, but he hasn't been able to move from a corporate job into giving Hydromax his full attention. He believes his invention will save lives, if he can get an investment that will allow him to produce and market Hydromax and get it on the shelves. Will the Sharks bite on Spencer's dream, or leave him high and dry?

Hydromax Shark Tank Recap

Spencer comes to the Sharks requesting $50,000, in exchange for 25% of his company. He explains that children are dying from dehydration while playing little league football. Spencer demonstrates the product, explaining how the shell protects the liquid holding bladder from impacts, and showing how the drinking tube is held under the jersey when not in use. The Hydromax system is designed to attach to any set of football pads, giving it a versatile place in the market.

The Sharks are intrigued. They want to know about cost vs. sales price. The Hydromax cost around $8 to produce, and sells for $49.95. During the year Spencer was selling his product, he sold $100,000 worth of Hydromax systems, but he returned to the security of his corporate job after starting a family.

Barbara Corcoran wants to know how Spencer will make the time to dedicate to the product. Spencer hopes that a Shark will help provide a manufacturing and distribution network, allowing him to concentrate on sales. Kevin O'Leary wants to work with entrepreneurs who seek out their own licensing deals. He says that licensing the product “is a challenge I don't want to take on.” He's out.

Daymond John believes the valuation of the company is “way off.” He's out. Barbara Corcoran doesn't believe she has the right contacts for this type of business. She's out. Only Robert Herjavec and Jeff Foxworthy remain.

Herjavec thinks the product is “clever,” but he believes “the only guy who can do this is you.” He encourages Spencer to make sales calls. He's out. Jeff Foxworthy wants to know about Spencer's plans for expansion. Spencer has solid ideas, and explains that Hydromax has been in the Hulu bowl, as well as tested by college athletes. Foxworthy is impressed. He's willing to offer the $50,000, saying “I'm all about kids.” Spencer has reached a deal.

Hydromax Shark Tank Update

Foxworthy's believe in the Hydromax system was not misplaced. The system is now in use by professional players on teams like the Dallas Cowboys and San Diego Chargers, as well as Pop Warner, high school, and college teams. The system has taken off, and Chris Spencer is now the CEO of his company. Foxworthy's investment has been paid off, making this a successful Shark deal.

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