Hydromax before the Shark Tank:
Chris Spencer of Houston, Texas is the creator of Hydromax. He had a vision for this invention from his own days playing football when he was younger. Chris feels very passionate about this product as right now there are 14 million kids playing football, America’s biggest game and some of them are dying from lack of hydration while on the football field. So Chris came up with the concept of Hydromax – a device that will allow children as well as other athletes have access to water while on the field ensuring they stay hydrated throughout each game. Hydromax is basically a hydration system that can be mounted on the shoulder pad of the players who use it. They can easily attach the hydration advice with some Velcro and the protective shell of the device ensures that it is impact resistant in the case of them being involved in a tackle on the football field. The Hydromax holds a sixteen-ounce pouch for water and a tube that comes up between the shoulder pads to allow the football players to access some water easily.
Chris originally founded Hydromax back in 2007 but shortly after that got married and started a family. In order to support his family in the best possible way, he gave up his dream of continuing to bring Hydromax to the market and entered the corporate business world. Fast forward to 2011 and Chris is still as passionate about getting a distributor for his product as ever. Still working in the corporate business world full-time he knows he must take action to get this product out there. He decides to enter the shark tank in search of financial aid, a business partner and most importantly someone to set up some distribution channels for the product.
Hydromax in the Shark Tank:
Chris entered the shark tank with young helper Ethan who was there to help demonstrate the positive use of the Hydromax product. Chris starts his pitch by introducing himself, Ethan and the product before declaring that he is seeking $50,000 for a 25% equity stake in his company. He gives a comprehensive demonstration of the product and how it works before Ethan kindly demonstrates how easy it is too access the water inside. Robert Herjavec voices his concerns about the water tube getting caught around a child’s neck but Chris eases the shark’s concerns by further demonstrating that Hydromax has been engineered to prevent this from happening.
Kevin O’ Leary goes on to ask about the price of the shoulder-pads and Chris explains that Hydromax is a unique product in that it can be inserted into any shoulder pads. Daymond asks if the product is patented to which Chris replies that it is.
Chris then gives each of the sharks a Hydromax so they can have a closer look. Barbara questions the cost of manufacturing the product and the retail price. Chris informs the sharks that it costs a mere $8.50 to manufacture the Hydromax and it retails for $49.99.
Robert then asks about sales and Chris explains he has sales for just one year – 2007. After 2007, he could not commit to taking the risk of chasing the dream of Hydromax and he returned to the corporate world to support his family and have job stability. Chris made $100,000 in sales in 2007. Barbara goes on to question Chris on how he would make the time to work on getting Hydromax out there and Chris announces to the sharks that he is ultimately looking for a distribution deal. He also hopes he can get to the point where he can focus on Hydromax as a company full-time.
Jeff Foxworthy is impressed with the design of the product and Chris explains that he had this vision since he was a young athlete playing football in high school and college. Kevin sums up what Chris is looking for with some humor stating ‘he likes to have people like Chris doing all the work so he can sit at home and eat bon-bons’. Although Kevin wants to save children’s lives he states it is a challenge he does not want to take on and declares himself out.
Daymond follows close behind giving the reason that the valuation for the company is way off before declaring himself out. Things deteriorate further for Chris as Barbara then informs him she does not have the contacts nor the time needed for such a project before declaring herself out.
Robert admits he thinks the idea is very clever but seems unwilling to do the hard work to get the product out there. He declares himself and leaves just one shark who can help Chris and make an offer. Jeff questions as to whether Hydromax has been used and proven to work in high school or college football. Chris responds that it was used in the 2007 college football tournament, The Hula Bowl. Chris goes on to explain his expansion plans for Hydromax as a brand. Finally, Jeff lays his cards on the table and declares he is willing to make the offer of $50,000 but for a fifty percent equity share of the company – double the equity share that Chris was offering to give away to the sharks. Jeff reaffirms his belief that it’s a fantastic idea and states he is all about the kids. For a brief few moments it is unclear what is going to happen before Chris’ face breaks into a smile as he accepts the offer. He is quite visibly delighted to have someone else believe in his idea and invest in the business to help him get to it where it needs to be. Chris leaves the shark tank a happy man ready to embark on a new adventure with his business Hydromax.
Hydromax Now in 2018 – What happened after Shark Tank?
Since appearing on the Shark Tank, Chris Spencer and his product Hydromax has become quite a success. The investment and expertise provided by shark Jeff Foxworthy helped Chris get the Hydromax system on the market making it a must have for high school and college football teams. Further to that, the Hydromax system is now being used by some professional football players on teams such as the Dallas Cowboys and the San Diego Chargers. The Hydromax system is available to buy on the Hydromax website also.
Since appearing on Shark Tank, Chris has also been able to leave his job in the corporate business world and achieve the dream of becoming full-time CEO of his very own company. Jeff Foxworthy’s investment has been paid off and there is no doubt that this is one of the success stories to come from the Shark Tank.