Ski-Z Ski Carrier Update | Shark Tank Season 10

During a family ski trip in Louisiana, Kyle Allen got tired of carrying skis for his wife and kids. It was heavy, awkward, and just too much work. So he teamed up with Nick Palermo to create Ski-Z, a simple wheel that clips onto skis and lets you roll them instead. Will the sharks think it’s a smart idea? Let’s find out in our Ski-Z update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Ski-Z after Shark Tank.

Nick and Kyle entered Shark Tank Season 10, seeking $50,000 for 15% equity in their ski company. After their pitch, they made a deal with Barbara Corcoran, matching their initial ask.

In terms of a Ski-Z update, the company expanded into Europe and Asia and partnered with ski resorts, but the founders never fully committed and the company eventually went out of business.

Shark:	Result:
Barbara Corcoran	Accepted deal for $50,000 for 15% equity
Daymond John	$50,000 for 20% equity
Kevin O’Leary	No offer
Lori Greiner	No offer
Mark Cuban	No offer

Shark Tank Ski-Z Pitch

• Entrepreneurs:  Nick Palermo and Kyle Allen
• Business: Ski caddy wheel
• Ask: $50,000 for 15% equity
• Result: $50,000 for 15% equity
• Shark: Barbara Corcoran

Nick and Kyle brought their ski caddy company to Shark Tank Season 10.

Their caddy is a small wheel that clips onto skis. It allows users to roll them instead of carrying them. It’s designed for skiers of all ages.

Kyle invented the caddy, and it’s so handy that it fits in your pocket between uses, while on the slopes. You simply attach the Ski-Z to the front of the skis with a velcro strap.

Nick said he had worked in the ski industry for 35 years. In all that time, he hadn’t seen anything as useful as Ski-Z.

Barbara Corcoran asked if it could roll in snow. Kyle said yes. Kevin O’Leary wanted to know if they had a patent. They confirmed they had a utility patent.

The device costs $3.50 to make and sells for $19.95. The sharks liked the profit margin.

Kyle explained they launched in 2013 and sold $230,000 worth in just four months. But in 2014, they made no sales.

Nick explained why. He had been diagnosed with prostate cancer and had to step back. Kyle said he went through a divorce that same year, which affected operations.

However, after bringing the product back to the market in 2018, Kyle and Nick have around $350,000 in inventory.

Also, they had projections of generating more than $500,000 in gross revenue sales.

Mark Cuban asked how they came up with that money, and Kyle said that he ultimately had to mortgage his home.

Lori Greiner asked who owned the company. Nick said he owned 25%, and his new wife owned another 25%. The rest of the ownership belonged to Kyle.

Barbara then made an offer. She agreed to give $50,000 for 15% equity, matching their initial ask, but only if they accepted it right away.

Kevin and Mark advised them to take the deal. As they hesitated, Mark dropped out.

Then Daymond John jumped in. He offered $50,000 for 20% equity. Mark again urged them to take one of the offers.

Kevin asked what they were still discussing. Kyle said he wanted to know if Barbara would offer extra credit, another $50,000, if needed later.

Barbara said that should have been part of the original deal. She didn’t like that they were now asking for more.

After a short while, Nick and Kyle finally accepted the deal after huddling and whispering for some time.

Now, let’s take a look at the Ski-Z update to see how the company is doing after Shark Tank.

Shark Tank Ski-Z Update

Our Ski-Z update found that the deal with Barbara did eventually close.

Next, sales surged right after the episode aired, with the ski carrier product landing on Amazon and in several retail channels.

The business even expanded into international markets like Europe and Asia. Ski-Z also partnered with ski resorts to boost visibility.

However, Nick and Kyle never went all in. Nick stayed in real estate, and Kyle focused on his other company, Global Vessel and Tank.

By 2023, our Ski-Z update found that the company was reportedly bringing in around $200,000 a year.

However, at the time of writing, it seems that the company’s official website is no longer active.

Further, their social media accounts have also gone silent, and there are no signs of ongoing operations.

While it’s unclear exactly what happened, it looks like Nick and Kyle have moved on to other things. This will be our final Ski-Z update.

Nevertheless, you can find the other company updates from Season 10 here:

• Hire Santa Update
• Prank-O Update
• Oatmeals Update

Before you go, be sure to check out our list of all the Shark Tank Season 10 products.