Ski-Z Ski Carrier Update | Shark Tank Season 10

Representing the famous activity of outdoor skiing during the wintertime, Nick and Kyle came into Shark Tank to represent their company Ski-Z, which makes ski caddies for heavy ski equipment. Before we shift focus to the Ski-Z update to see how the company is doing in the present day, let’s see whether or not Kyle and Nick were able to lock up a deal with any of the sharks.

Shark Tank Ski-Z Update

Ski-Z Update

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

After their pitch, Nick and Kyle told the sharks about their company’s utility patent for their Ski-Z caddy product. They also quickly told the sharks that it cost them less than $4 to manufacture a single unit, while they were able to sell them to customers for $20 per unit.

Ski-Z (Red
  • 22" x 1" strap VELCRO(R) brand hook and loop fastener
  • ABEC precision bearing is low-temperature resistant
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In 2013, they had gross revenue greater than $200,000 but completely plunged in 2014 due to Nick’s personal fight with prostate cancer. After bringing the product back to the market in 2018,  Kyle and Nick told the sharks that they had projections of generating more than $500,000 in gross revenue sales.

Barbara Corcoran was the first shark to make an offer to Nick and Kyle. She offered $50,000 for 15% equity, exactly what the duo was asking for when they originally came into the tank. After a short while, Nick and Kyle finally accepted after huddling and whispering for a period of time.

It’s certainly a rarity to see a company and its entrepreneurs get exactly what they’re asking for when coming onto Shark Tank, but Nick and Kyle managed to secure a deal. Now let’s take a look at the Ski-Z update to see how the company is doing after Shark Tank.

In our Ski-Z update research, we found that the deal with Barbara Corcoran did eventually close and the company went on for a few years generating hundreds of thousands of dollars on an annual basis. The company is still going strong and providing its ski carrier wheel to new customers every year through its website.

You can find the other company updates from Season 10 here:

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.