SubSafe Sandwich Storage Update | Shark Tank Season 10
Adam and Desiree Haller came onto
Shark Tank SubSafe Update
- Entrepreneurs: Adam Haller and Desiree Haller
- Business: Outdoor Food Storage Containers
- Ask: $50,000 for 13% equity
- Result: $100,000 for 25% equity
- Sharks: Mark Cuban and Charles Barkley
A customer can purchase a single unit for $17.95, while it costs the company just over $2 to manufacture it. With impressive margins, Adam and Desiree were on their way to earning an investment from the sharks. However, Kevin O’Leary still wanted to learn more about the company’s financial statistics for SubSafe.
Whether you call it a hoagie, grinder or sub, the SubSafe protects your sandwich. The coolest food storage container, it keeps your sub sandwich fresh and dry. Perfect for boating, tailgating, picnics and in the break room. It’s ideal sandwich storage for nurses and first responders!
The sales numbers were a little bit of a letdown when Desiree admitted that the company has only done $40,000 in sales since it launched. Adam also told the sharks that he raised $37,000 to input into the company by selling his boat. As negotiations started, Lori Greiner was the first shark to drop out because she didn’t believe it was the right investment for her.
Guest shark, Charles Barkley, and Mark Cuban decided to team up to make an offer of $100,000 for 25% equity. The two entrepreneurs seemed very pleased with the offer, so it didn’t take very long for them to accept.
Let’s transition to get a SubSafe update and see how the company is doing after initially securing a deal with Charles and Mark.
The company is still in operation while generating just over $1 million in sales per year. The products can be found on Amazon and in Publix and Bed Bath & Beyond. All of the available recently launched products can be found online on the SubSafe official website. So, it’s safe to say that our SubSafe update is showing good signs for Mark and Charles’s investment.
You can find the other company updates from Season 10 Episode 13 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from