Do you always forget your breath freshening products at home? Are you looking for a convenient way to store your contact lenses on the go? Entrepreneur Bob Kroupa has got you covered, with two practical products that he invented. Will anyone invest on
Shark Tank New Era Brands Update
- Entrepreneur: Bob Kroupa
- Business: Breath freshening products and cases for contact lenses
- Ask: $500,000 for 30% equity
- Result: No deal
- Shark: None
Bob brings his company, New Era Brands, to
The products are basically small, convenient sized holders, that can clip onto your keys, backpack, or purse. He also makes his own gum, that comes inside the gum holder.
This confuses Robert Herjavec, and he asks what gum and contacts have to do with one another. Bob replies that while they are two separate products, they are both Clip’n’Go, for people on the go.
To that same point, Kevin O’Leary asks if Bob is in the container business, the gum business, or the contact lens business. The entrepreneur replies that he’s in the business of all three.
In the year prior to filming, sales hit $817,000. Additionally, products were in retails stores such as Walmart, Winn Dixie and Amazon.
He further explains that those sales do not include Clip’n’Go Lenz, because it has not yet been released. Bob also admits that he has run out of product, so he’s struggling, and has yet to turn a profit in the year he appears on
Robert doesn’t understand what has happened, and Daymond John is also confused.
Kevin O. explains to them that it does not meet the gross margin for linear growth. When pressed, Bob admits this is true.
This is when Daymod goes out, and the rest of the sharks seem confused and frustrated.
Barbara Corcoran asks just how much Bob has invested, and he says $2 million.
When she then asks where he got so much money, he says he was a real estate developer. He further admits that he’s aware of the mistakes made, and that there is now no more money, because much of it went to overhead.
This is all that Kevin Harrington needs to hear. He goes out next, because he doesn’t find the company to be investable.
Confused by Bob’s pitch, Robert goes out next.
Kevin O., follows, but not before telling the entrepreneur to go back into real estate, and ditch New Era Brands.
Last but not least, Barbara says that although Bob is a good salesman, his presentation for New Era Brands missed the mark. She is the last shark to drop out.
Without any offers from the sharks, this means that Bob is forced to leave
Do you think the company recovered, or did Bob take Kevin’s advice about a career change? Keep reading our New Era Brands update to find out what happened next!
Our New Era Brands update reveals some bad news. The New Era Brands products are no longer available, and the company is out of business.
It turns out that Bob took the sharks’ advice and rerouted his efforts into different career choices. A quick internet search for Bob, revealed that he is currently the founder of Sureway Health, LLC.
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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!