BucketGolf Pitch Presented by the Siblings Duo
Highlights
- Tyler and Jenny Simmons pitch BucketGolf, a backyard golf game on Shark Tank Season 16.
- The siblings seek $1 million for 10% equity in their business.
- They receive offers from four out of the five Sharks on Shark Tank Season 16 Episode 2.
Overview
| Category | Details |
| Name | BucketGolf |
| Founder | Tyler and Jenny Simmons |
| Industry | Sports |
| Product | Backyard Golf Game |
| Funding | Self funded |
| Investment Ask | $1 million |
| Equity Offered | 10% |
| Valuation | $10 million |
The brother-sister duo of Tyler and Jenny Simmons approach the Shark Tank cast with BucketGolf, bringing a creative twist to golf. The venture offers a fun backyard game of golf, which can be played anywhere outdoors with friends and family. Tyler is a scratch golfer and the founder & CEO of BucketGolf, whereas Jenny is its COO.
Tyler asserts that BucketGolf allows one to combine the excitement of real golf with the ease of backyard games. The portable par 3 golf game can be played anytime, anywhere, and with anyone. The best part about it is that the game never gets old owing to its ability to be custom-designed any number of times.
The product is ideal for anyone as it does not require professional golfers for the backyard game.
BucketGolf: What Happened On Shark Tank Season 16
The siblings make their way to the investors in Shark Tank Season Episode 2, seeking $1 million for 10% equity. After the pitch, they invite Lori Greiner and guest Shark Todd Graves to play a round of the innovative golf game. The Sharks get three shots to hit the bucket and get a par.
Hitting any part of the bucket counts as scoring, and if they insert it inside, they will get to subtract that score from their score. The lowest score at the end of all the holes is the winner. Lori hits it straight inside the bucket; Todd misses out by just a little.
Daymond John loves the concept, and so does Lori. Mark Cuban says he ‘hates golf.’
Kevin O’Leary wants to know about sales. Tyler answers, saying that when he started, he had no idea about the business world’s nitty-gritty. Still, in the first three years, he made $5K in sales. During that time, the game setup was quite complex.
But he changed it in 2021 after suddenly realizing that he could simply use a bucket for the same purpose. Following this, in 2022, the company made a whopping $2.5 million in sales. In 2023, BucketGolf made $5.9 million through sales. Projected sales for this year are $12 million.
The Sharks applaud their progress. Tyler and Jenny are about to make 15%-20% out of the sales.
Their best seller is the 9-hole bundle, which is sold for $199. Landing costs are $60. Kevin feels the margins are less for retail. Jenny reacts, saying they are selling online and through Amazon.
Todd wants to know how the product is different from similar products available in the market. Tyler says that Spikeball has many modes, and the products are available at a different price range than theirs. While there is competition, their design patent is pending.
They are seeking a Shark’s help for logistics.
Did BucketGolf Get A Deal On Shark Tank Season 16?
Kevin makes the first offer of $1 million for 25% equity. He says the equity is high because the distributor will surely take a piece. Lori and Kevin argue about this statement. Daymond matches Kevin’s offer of $1 million for 25% equity. Todd exits the deal because he is not excited about the product.
Lori offers $1 million for 22.5% equity on the condition that she gets preferred stocks. The only Shark left is Mark, who offers $1 million for 15% equity. Tyler counters Mark’s deal for $1 million at 12.5% equity. He refuses to take it, saying he has a lot to offer in terms of increasing BucketGolf’s visibility.
While Tyler is still convincing Mark by making him remind of his Shark Tank miss through the Spikeball deal, Lori interrupts and says she will do the deal for $1 million at 12.5% equity. Mark then says he, too, would do the deal at the same valuation, i.e., $1 million at 12.5% equity.
Ultimately, the siblings took up Mark’s offer and ended the BucketGolf Shark Tank journey with a deal.
See what else is new! View other businesses featured in this episode.
