Parents know just how hard it can be to run errands or sight-see with little kids in tow. Sometimes mom or dad need to be hands free, which can be challenging. That’s why Nathan Jones and Erick Jansen created a lightweight child-carrier to solve this problem. Will this company carry out a deal on
Shark Tank The Freeloader Update
- Entrepreneurs: Nathan Jones and Erick Jansen
- Business: Wearable child carrier
- Ask: $200,000 in exchange for 15% equity
- Result: $200,000 in exchange for 33% equity
- Sharks: Robert Herjavec
Nathan and Erick brought their backpack-style child carrier to the tank. They claimed their carrier, dubbed The Freeloader, was lightweight, easy to use, and evenly distributed the weight of kids up to 80 pounds. The guys said their product was comfortable enough that parents could take their kids practically anywhere and still have a good time.
FOR TODDLERS & SMALL CHILDREN – Designed by 2 Texas firefighters with Safety & Ergonomics in mind, the Freeloader is the first child carrier specifically built for toddlers & small children. Adventure Together & Enjoy Parenthood without boundaries!
Nathan’s young son, River, was on board the carrier while Nathan demonstrated how it worked. Robert Herjavec asked if he could give it a try, and he put it on with River strapped in. He told the sharks it wasn’t too bad, but it wasn’t something he wanted to wear all day.
Earlier that year, Nathan and Erick’s crowdfunding campaign netted The Freeloader over $40,000 in just 45 days. When Robert asked the two what their plans were for the potential investment, Nathan answered that $110,000 would go into making 2,000 more carriers, and the remaining $90,000 would be used to cover operating expenses.
Lori Greiner brought up the subject of safety testing, and the guys assured her that they were familiar with all the regulations. That prompted Mark Cuban to tell Erick and Nathan that his 4-year-old son would easily be able to unbuckle the straps on The Freeloader, which could lead to an accident. Mark said the money would be better spent on more extensive safety testing, and eventually went out.
Barbara Corcoran thought it would be hard to market The Freeloader in a way that set it apart from other wearable child carriers unless potential customers were able to see how it worked. She added that the window of time for kids between stroller age and distance-walking age was very short, so she too went out. Lori Greiner went out next, due to safety concerns. Kevin O’Leary felt that the product would be hard to scale and sell, so he also went out.
Robert offered $200,000 in exchange for a 33% stake in the company. Nathan and Erick agreed to Robert’s offer, and The Freeloader hiked away with a deal! What happened next for their company? Keep reading The Freeloader update to find out!
Research for The Freeloader update reveals great news! The Freeloader is still hitching rides on the backs of parents everywhere, and the company is thought to be worth about $3 million today! Products are available on The Freeloader website and on Amazon.
Would you like to learn about the other companies featured on Season 5 Episode 3? Follow the links below for our other company updates from the episode.
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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!