Five Sharks and founder of Riverbend Resources on Shark tank – image credit @sharktankabc
Are you a chicken owner? Do you also wake up to the rooster’s alarm in the morning? If yes, then you must be pretty familiar with the struggle of feeding chickens. The mess it creates is beyond frustrating. Traditional feeders aren’t really a food safe haven for chickens—they open from the top, attracting too many unwanted pests and rodents.
Erik Diedrichsen, founder of Riverbend Resources, proposes a poultry feeder design that is perfect for feeding your chickens while keeping the yard clean!
Will the Sharks find this business good enough to invest in and help its founder achieve quicker success?
About Riverbend Resources
| Category | Details |
| Founder | Erik Diedrichsen |
| Product Type | Poultry feeder |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $300,000 |
| Equity Offered | 10% |
What Happened on the Shark Tank Episode?
Erik starts his pitch by telling the Sharks that 10% of American households have backyard chickens. After dogs and cats, chickens are the third most common pet in America. But the thing is, feeding them gets really messy. The feeders are not designed in a way that keeps the backyard clean.
Riverbend Resources offers the perfect solution. The Poultry Pro Feeder is created to provide a clean and efficient alternative to traditional feeders.
Mark Cuban refuses to believe that 10% of Americans have chickens in their yards, and neither does Daymond. Erik confirms that about 85 million chickens are domesticated.
Robert points out that Daymond actually has chickens and asks him what his thoughts are about Riverbend Resources. Daymond calls it genius.
- Sharks ask Erik about his sales. Lifetime sales are about $3 million. This year they did a million dollars and are projected to hit $2 million.
- If we talk about margins, for a kit, the selling price is $30 and the making cost is $5.
- Erik reveals he faced knockoffs and turned towards retail.
Daymond tells the story of his home, explaining how he keeps poultry to get rid of ticks and has donkeys to protect the chickens from coyotes. When asked who keeps the donkeys safe, he says, “Junior and George take care of that with their shotguns.” The room erupts with laughter!
View this post on Instagram
What Makes Riverbend Resources Unique?
Riverbend Resources offers two types of products for your feathery friends: the Poultry Pro Feeder and the Poultry Pro Waterer. As the entrepreneur Erik Diedrichsen claims, they are the best in the market.
- The Poultry Pro Feeder lets you turn a plastic container into a poultry feeder in just a few minutes.
- It is a no-mess, no-waste, weatherproof feeder with high capacity.
The design lets chickens put their heads inside the feeder, leaving no scope for mess.
The feeder is very simple to install manually. - Poultry Pro Waterer is designed to provide clean water for chickens in the most hygienic way possible.
- The waterer can hold up to five gallons of water.
- It is very easy to install and features self-filling and self-cleaning technology.
Did Riverbend Resources Get a Deal on Shark Tank?
On learning about the ups and downs of market trends and business competition in the poultry feeder industry, the Sharks were a little hesitant, and most of them backed out from making any deals.
- Lori says that this business does not align with her expertise and decides to stay out of it.
- Robert says he really likes the product, but he can’t add anything to the venture.
- Mark Cuban admits that he does not have the slightest clue about the industry, so he does not offer any deals. He still tells Erik that he should be proud of himself..
- Kevin thinks that if there is so much competition, then it is probably a big market and will be very profitable. However, he does not have any knowledge about this particular market; therefore, it is not for him.
- Daymond offers to invest $300K for 25% equity.
Erik counters with 20% equity, and Daymond accepts the offer.
View this post on Instagram
What Happened to Riverbend Resources After Shark Tank?
According to Google Trends, Riverbend Resources has been highly searched over the past few hours. The exposure it got from the episode of Shark Tank Season 16, Episode 13 is significant.
Where Can You Buy It?
You can buy the clean poultry feeding products on the official website of Riverbend Resources.
One kit has three feeder ports and comes with a hole saw bit for easy installation. You can buy both products, the Poultry Pro Feeder and the Poultry Pro Waterer, online.
Quick Summary
- Riverbend Resources enters Shark Tank with their amazing poultry feeder products.
- The products are a no-mess, no-waste solution for backyard chicken owners. The feed stays clean and dry.
- Founder Erik closes a deal with Daymond for $300K for a 20% stake.
