Jeffrey Miller created a line of shrink wrap gift bags called Cool Wraps to make gift wrapping easy for people (like me) who are challenged by “traditional” gift wrapping methods. Jeffrey will pitch the Sharks in episode 419 for his business, which, according to the Cool Wraps website, is listing his patent “for sale or licensing.”
Shrink Wrap Gift Bags Concept
The Cool Wraps concept is simple: make gift wrapping easier by putting gifts in shrink wrap gift bags instead of using regular wrapping paper. Wrapping paper makes gift wrapping a chore for folks who just don’t have a flair for making a gift look pretty. Most of the gifts I wrap look like a chimpanzee with tape and scissors attacked it!
Cool Wraps makes it easy: simply slide a gift – even an irregularly shaped gift – into one of the shrink wrap gift bags, seal it, and heat it with a blow dryer. The shrink wrap shrinks snugly around the gift and it looks like it was wrapped by a pro in the gift wrap department. Cool Wraps are priced similarly to regular wrapping paper, so it’s almost a no brainer.
Will the Sharks Wrap Up a Deal?
The concept is simple and there is a huge market for gift wrapping products. Assuming the numbers and valuation are sound, this is an interesting business. I think people would buy this product – they’ve bought it on QVC before and the website features photos of smart looking end cap displays for retail stores. Jeffrey Miller has Cool Wraps ready for merchandising.
I think that’s why Cool Wraps is in the Shark Tank – to get access to the Sharks’ distribution networks. This is something Lori will deem a “hero or zero” instantaneously; I will be watching for her reactions and betting she makes a bid.
There is one curious element to Cool Wraps: their website says “Cool Wraps patent and trademark available for sale or licensing.” Licensing is the catch phrase of Mr. Wonderful and this is the type of product that is well suited to such an arrangement. Think of all the licensed images for shrink wrap gift bags: sports teams, cartoon characters, or any other licensed image finds its way onto all kinds of gift wrap, why not Cool Wraps?
The “for sale” sign is troubling; the Sharks don’t neccessarily want to buy businesses – just partner with them. If Miller pushes on the sale of the business rather than how to build it, he may be sunk. If it’s a standard pitch, I think a few Sharks will nibble.
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.
Well, it’s May 3rd in 2016, and I can’t even buy these on Amazon. I’m pissed.