Dura-Tent Food Tent Update | Season 4
Dan Rothwell created a food tent, to help make cooking and eating outside more enjoyable. Will he earn a deal on
Shark Tank Dura-Tent Update
- Entrepreneur: Dan Rothwell
- Business: Durable food tent
- Ask: $50,000 for 30% equity
- Result: No deal
- Shark: None
Dan, a former electrical engineer and founder of Dura-Tent, brought his product to the tank. His full enclosure for backyard barbecuers and cookout connoisseurs, could be used to cover food at outdoor events, keeping flies away.
The Food Protecting Tent. Keeps Food Safe. Keeps Bugs Out. Set up is fast and easy.
Mark Cuban kicked things off asking how many Dan had sold so far. At only county fairs, Dan had sold 50,000 units, charging $19.95 for the small size, $29.95 for the mid, and $34.95 for the large. His cost ranged between $4.65 and $7.27, making the margins excellent.
Lori Greiner inquired about the design, asking why Dan chose to make a full enclosure rather than individual tents to cover one bowl at a time. Dan replied that the full enclosure design guaranteed it wouldn’t blow away like many of the competitors on the market. In addition, he said he had 3 patents on the product.
At this juncture, Mark was confused by the numbers and looked for clarification. He said that selling that number of units, a 300% margin should have awarded Dan a much larger bottom line.
Dan dove into the numbers further to clarify, citing that he sold 7,800 units in the first year, 10,000 in the second, 13,000 in the third, and that he was on track to sell 13,000 in the fourth and current year.
Lori echoed Mark’s sentiments and told Dan that his numbers didn’t add up. Daymond John would shed light and inform Dan that he would need to sell 19,000 to make the 50,000 figure he originally provided, not 13,000. In reality, Dan was projecting 41,000 in sales.
Dan apologized, but it didn’t save him from Mark calling him an engineer who came on TV and “can’t do math.” The sharks now knew that Dan’s original claim of selling 50,000 was actually 35,000 on the way to 40,000.
Lori asked what Dan wanted the money for, and Dan said that he had two contracts pending with QVC reps. He felt if he could use his existing inventory and use the $50,000 investment to fund more for bigger orders, it would lower his costs, improve his margins, and make Dura-Tent more attractive to big box retailers.
Robert Herjavec confessed at this point that he just wasn’t into the concept, and went out of the tank. Mark rode Robert’s coattails, stating that the product was “ingenious” but that he personally could provide no value and, for that reason, he was out.
Kevin felt Dura-Tent showed potential, so he made an offer to give the $50,000 in exchange for no equity. Instead, in true Mr. Wonderful fashion, he asked for a $2.00 royalty on each small unit sold and a $2.50 royalty on the larger ones. If Dan hit his projections, this guaranteed Kevin would make back his money within 2 years.
Dan did not accept, stating he wanted someone with “marketing vision” and felt Kevin’s offer was a simple bankroll. Kevin claimed that wasn’t true, and that he added incredible value, but he also offered up Lori as a partner.
Lori considered partnering with Kevin on the deal, but wasn’t fond of the royalty structure. She talked it over out loud, but arrived at the conclusion that she wasn’t sure if Dura-Tent was a hero or zero. Because of her uncertainty, she decided that going out was her best option.
Daymond, taking the cue from Lori, said that he too wasn’t sure, but knew that Lori was the best shark for the deal and, since she wasn’t going to invest, he wasn’t going to invest either.
And as they say, all roads lead back to Mr. Wonderful. Kevin asked Dan point blank if he was turning down the offer. Dan said he wasn’t so concerned about the money, but really wanted a partner with “marketing vision.” Insulted, Kevin went out.
With no sharks left and no offers on the table, Dan thanked the sharks and left. What became of his company? Keep reading our Dura-Tent update to find out!
We have great news to share in our Dura-Tent update! Dan eventually re-branded with a new name called PicnicPal. Products can be purchased on the company website and on Amazon. In 2023, the company is valued around $1 million.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!