Birddogs Update | Shark Tank Season 9

Birddogs is a company that was featured during Season 9 of Shark Tank. Chris Mason and Peter Baldwin came out to represent their company which creates gym shorts with a comfortable built-in liner. They were asking for a whopping $250,000 in exchange for just 1.5% equity in their company. Before we give you the Birddogs update, let’s see if the company was lucky enough to secure a deal with any of the sharks.

Shark Tank Birddogs Update

Birddogs Update

  • Entrepreneurs: Peter Baldwin and Chris Mason
  • Business: Gym Shorts
  • Ask: $250,000 for 1.5% equity
  • Result: No Deal
  • Sharks: None

In the three years that Birddogs has existed, sales were $200,000 in the first year and $2 million in the second year, with the current calendar year projected to exceed $6 million dollars in total gross revenue sales. While the presentation and initial pitch may have done more harm than good, the company’s sales numbers are extremely impressive to the sharks.

A single pair of shorts cost the company about $18 to make. Each pair of shorts is sold online through a digital marketplace directly to customers for around $50. These margins were impressive and several of the sharks were shocked at the company’s success story up to this point.

Birddogs’ expenses came from from three primary sources. The manufacturing costs are the main expense, but customer acquisition costs average out to about $13 per order. The other primary source relating to expenses is shipping and handling of every order. With these factors combined, the company experiences an average gross margin of more than 50%, which is fairly reasonable.

After hearing about the company’s financial history, some of the sharks were ready to either drop out or make an offer. Lori Greiner was the first shark to drop out because she didn’t believe that the company’s growth potential was sustainable. The remaining sharks all dropped out because they lacked confidence in the two entrepreneurs.

The current Birddogs update is interesting because the company was heavily rejected by the sharks during Season 9 due to the attitude and arrogance of the entrepreneurs. Peter and Chris would have argued that their attitude was confidence rather than arrogance and they have managed to prove the sharks wrong by keeping their company thriving in business.

New products have been developed and are now available on the official Birddogs website. Despite not getting a deal, we are calling our Birddogs update a success.

You can find the other company updates from Season 9 Episode 14 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.