Andrew Feld Giving A Shark Tank Pitch Presentation For Fresh Patch
Highlights
- Andrew Feld presented Fresh Patch in the ninth Shark Tank season.
- The entrepreneur got a joint deal from Barbara Corcoran and Mark Cuban.
- Fresh Patch became a million-dollar empire after the show.
Through its many seasons, Shark Tank’s investors finalized countless deals on camera that fell through later on. While some entrepreneurs handled their business well on their own, others shut it down after the Shark Tank setback. The entrepreneur behind the Fresh Patch Shark Tank pitch falls under the first category.
Andrew Feld came up with Fresh Patch, a thoughtful pet product in the sixth Shark Tank season. After receiving multiple offers from the panelists, Andrew sealed the Shark Tank deal with Barbara Corcoran and Mark Cuban. But the deal could not materialize after the episode aired.
While this development could have been a major roadblock for his pet product, Andrew handled things quite well. Through strategic moves, the entrepreneur made Fresh Patch, a hydroponically grown grass pee-pad, a soaring success.
Below is a detailed description of how Fresh Patch became a gigantic business:
Fresh Patch Shark Tank: Success After The Show
Despite failing to carry forward his Shark Tank deal, Andrew Feld kept hustling. After the show, Fresh Patch functioned as an online offering only. In order to meet the varied requirements of pet owners, Andrew launched different sizes of the grass pee-pad. These were mini, large, extra large, and standard.
Additionally, Fresh Patch also began selling dog treats and plastic training trays. With the continuous expansion of products, the venture was able to meet the different demands of its buyers. Resultantly, the demand for Fresh Patch’s products increased, enabling amplified sales figures.
By October 2022, the annual revenue of Andrew’s pet venture reached the whopping amount of $10 million. Its success can further be ascertained by the fact that Fresh Patch was named in the list of ‘Oprah’s Favorite Things.’
All of these developments are together adding up to the sales figures of Andrew’s company. Plus, the entrepreneur has launched many other products, including wooden sleeves and plastic trays to hold the grass. Other key offerings by Fresh Patch are a doggie cabana with a roof and sprays for dogs.
Now that a basic idea of Fresh Patch’s journey to success has been explained, have a quick look at its appearance on Shark Tank.
Fresh Patch Shark Tank: Pitch Recap
Aspiring entrepreneur Andrew Feld approached the Shark investors with Fresh Patch in the sixth Shark Tank season. Seeking $150K for 10% equity, the entrepreneur described that his business offered real grass pee-pads for dogs that are hydroponically grown. Andrew began the venture in 2010.
Initially delivered by hand, by the Fresh Patch Shark Tank appearance, it was sold on Amazon. The idea for the product came to him from his personal experience with his canine friend Chloe. According to Andrew, with this product, pet training was easier as it could be helpful during times when it was difficult to take pets out.
Andrew tried to win over the Shark investors by claiming that Fresh Patch had made $1 million till the time of his pitch on the show. The grass pee-pad was then available in regular and extra-large sizes only. The entrepreneur said that he wanted cash for building an east coast shipping facility.
How Did Fresh Patch Bag A Shark Tank Deal?
When Andrew claimed that he was going to sue a competitor that was infringing his patent, Kevin O’Leary showed an interest and made his offer. Kevin’s deal was $150K for 33% equity. Till the time he could think about the offer, the entrepreneur had another proposal from Barbara Corcoran.
Barbara offered $150K for 20% equity on the condition that he was willing to get into retail. On hearing this, Kevin revised his earlier offer to $150K for 20% equity. After this, Mark Cuban joined in the negotiation and said he would join hands with Barbara. Both of them offered help with retail and upgrading Fresh Patch’s website.
Ultimately, Andrew took up Barbara and Mark’s deal for $150K for 20% equity.
Conclusion
The success of Fresh Patch in becoming a million-dollar empire highlights the power of strategic growth and resilience. Even though the Fresh Patch Shark Tank deal with Barbara and Mark fell through after the episode aired, Andrew Feld’s perseverance helped the company sail through.
The entrepreneur’s emphasis on product expansion and keeping up with the needs of the pet industry helped it become an exemplary Shark Tank business.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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