Highlights
- Daniel Sheppard and Andrew Martin present Kettle Gryp, a device that converts dumbbells into kettlebells, on Shark Tank.
- The product is essentially a handle that attaches around a dumb bell and changes it to a kettle bell grip.
- They seek $300,000 for 10% equity to expand their business.
Overview
| Category | Details |
|---|---|
| Name | Kettle Gryp |
| Founders | Daniel Sheppard and Andrew Martin |
| Industry | Fitness Equipment |
| Product | Device that converts dumbbells into kettlebells |
| Funding | Self-funded |
| Investment Ask | $300,000 |
| Equity Offered | 10% |
| Valuation | $3 million |
Daniel Sheppard and Andrew Martin seek an investment in Kettle Gryp, their device that converts an ordinary dumb bell to a kettle bell weight, in Shark Tank episode 1314. Daniel has been a small business owner in the San Diego area since the 1990’s. Andrew is a 20 year military veteran who flew helicopters for the Marines. Both men share a passion for fitness and they created their product to save people money.
Both kettle bells and dumb bells can be found in just about any gym in the USA. The difference is with a kettle bell, the weight is below the hand and with a dumb bell the weight is evenly dispersed on either side of the handle. Kettle bells allow for two hands on the grip where dumb bells only allow one. They each have a different center of gravity which makes each of them appropriate for different weight training exercises. For home gym enthusiasts who want to do exercises with a kettle bell, it can get expensive and storage can be an issue too. Kettle Gryp solves that problem.
The product is essentially a handle that attaches around a dumb bell and changes it to a kettle bell grip. There’s no need to buy kettle bells any more. A set of kettle bells can cost a pretty penny. Kettle Gryp is only $35. They’re available at Wal Mart, Target, Dick’s and Amazon. With such broad distribution, they must need a Shark’s help with inventory or manufacturing (or both). Will a Shark give this business a lift?
Company Information
Video
Posts about Kettle Gryp on Shark Tank Blog
Kettle Gryp Shark Tank Recap
Andrew and Daniel enter and begin talking about the benefits of kettle bells and how they came up with the idea. They demonstrate how it works and do a few exercises. They are seeking $300,000 for 10% of their business. The Sharks all have Kettle Gryps and dumb bells. They put them together and try them out. Robert thinks it feels better than a kettle bell due to the wider grip.
When Kevin questions the valuation, they reveal that lifetime sales are $3.6 million. In 2018, they sold $391,000; in 2019, $590,000; in 2020, $1.9 million. Year to date for 2021 they are at $680,000 and expect to finish the year at $1 million. 91% of sales are online. When Andrew talks about his past as a Cobra Attack helicopter, the Sharks thank him for his service. Each unit costs $6.57 to make and they sell for $34.99 – an 81% margin. The Sharks all think it’s a great product and they like that it’s made in the USA and patented. There are 2-3 companies that have knocked them off.
Did Kettle Gryp Get A Deal?
Mark wants to know why they’re in the Tank. They want a strategic partner to help them with marketing. They look at their sales stats live. Robert doesn’t think it’s for him – he’s out. Mark says they have a secondary product -he’s out. Kevin mentions PRX and offers $300,000 for 20%. Lori says she could help sell it in retail. She offers $300,000 for 20% as preferred stock. They counter with 15% and Lori says “you got a deal.”
Kettle Gryp Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Sadly, Andrew came down with cancer a few weeks following the taping of the show and he passed away in December, 2021 just a month before the episode aired. On the night the show aired, Lori paid tribute on Twitter:
Here’s to you Andrew! A true American hero, beloved husband, father & friend to so many. Ur hard work & dedication to @KettleGryp & your partner Daniel will live on. Happy to be partners & to help fulfill ur legacy w/ Kettle Gryp #SharkTank
@ABCSharkTank
Lori did close this deal as of March, 2022 but not much new information is available at this time. The company finished 2021 with around $1.4 million in sales. By April, 2024, the company is still in business and generating between $-$2 million in revenue annually.
I will update this page as more information becomes available.
More products from this episode! Check out other businesses that participated alongside Kettle Gryp.
