Rapid Rope Before Shark Tank
Chris Rodgers and his wife Geanie Rodgers were avid fans of the outdoors. Chris used to also work as an electric linesman and so at both work and home he would use a lot of rope. However, the ropes in the market were always getting tangled which was a problem.
The tangled rope problem was bigger than it looked because it was more than time wasted untangling the rope. In the likelihood of an emergency, they would not be able to use the rope that they had. The couple started to think of how they could have a rope that was accessible whenever they needed it, wherever they needed it.
Chris and Geanie invented Rapid Rope which was a rope that was in a canister that made it easy to pull out. The Rapid Rope canister ensured that it was tangle free and instantly available. The canister has a blade that can cut the rope so any amount is available instantly.
When the Rodgers were not building their business, they were out building their community. Unfortunately, because of family commitments, they were unable to give the rope business the attention that it deserved and so the business lagged. The Rodgers looked for a shark that could help them give the company the kick that it needed to get up to speed.
The sharks were interested in the business and so called them to make their pitch on the 12th episode of the 11th season.
Rapid Rope on Shark Tank
The founders of Rapid Rope, Chris Rodgers and Geanie Rodgers were willing to give 20% of their company for $200,000 when they went onto Shark Tank. They gave a presentation showing why their rope is better than any other.
Rohan said that he loved the pitch and asked them about their background. Geanie said that she was a nurse and she met her husband when she was going to nursing school. Chris had been an electric lineman for over 20 years. He was an outdoor person and in his profession and hobby, he used a lot of rope and it was always a knotted mess.
Barbara then asked him why he had decided on that particular rope. Chris said that it was because of its strength. Rohan then asked them how strong the rope was. Chris showed them that their rope could lift a 2000-pound load when lifting with double the rope. Rohan then asked them for their sales which he thought should be considered given their valuation.
Chris said that he had lifetime sales of around $172,000 and they started the business 2 years before. Lori then asked them where they were selling their products. Chris said that 60% of their sales were from retail and 40% of their sales were online.
Kevin then asked which retailers were stocking them. Chris said that Duluth Trading was one company and they would be fulfilling their second purchase in a short while. Kevin then asked them to break down the numbers for him. Chris said that it retailed for $24.95 and its wholesale price was $14.97. Mark Cuban then asked them what their cost of manufacturing was.
Chris said that it cost $5.65 to make the rope and everything was done in-house. Lori then left. She said that she didn’t know how she could make the rope sell for them. Geanie then said that they were all in and they had invested $115,000 of their own money. Rohan then asked them if they both worked full-time on it.
Chris said that they started the business in 2017 and wanted the lifetime sales to be more. They said that 2017 and 2018 are a bit hard for them because they had adopted a child from Ethiopia. It was a boy and he was diagnosed with ulcerative colitis and had many health issues. During that time they spent a lot of time traveling back and forth from children’s issues. Geanie even had to quit her job to take care of their son.
The care took a lot of time and they also had to clear some of their insurance paperwork so they could not give Rapid Rope all their focus for a long time. Mark Cuban asked them how their son was doing and Chris said that he was doing much better. Barbara asked them how old he was and they said that he was 12 years old.
Barbara then asked them what inspired them to adopt a son since they already had 4 children. Geanie said that it was part of who they are and their new son had helped them so much. Geanie then said that she was there to give back. She felt like it was her responsibility. The sharks applauded her effort. She then said that they hoped to build a school in her son’s name.
Geanie then said that she also volunteered for an organization in Africa. Mark Cuban then left. He said that he was not an outdoors person and so he could not help them. Kevin also left. He said that he didn’t know how to blow up their sales so he was out.
Rohan Oza then left. He did not see how he could add value to the business. However, he thought that they were doing a great job and he would donate $10,000 to them. Geanie had said that she had done a charity run to raise money and Rohan would contribute to it.
Being the only shark left Barbara offered $200,000 for 30%. She said that she did not know much about rope and how she could sell them but she did know people and she thought that the Rodgers were the people that you invested in. She then offered them $200,000 for 30% of their business.
Geanie asked her if she would accept $200,000 for 25%. Barbara declined. The Rodgers then accepted Barbara’s offer. Geanie said that she was happy with Barbara’s offer and that their number one goal was to raise children who could make a difference to humanity.
Rapid Rope Now in [Year] – The After Shark Tank Update
Since its deal with Barbara, a lot has changed for Rapid Rope. It has continued to do business on its website and has also increased its line of products. Rapid Rope has also increased its products to include an Extreme Utility Rope. Rapid Rope Patch Hats are another product that has been put on the line by the business.
Rapid Rope has had a very high rate of customer satisfaction and there are nothing but 5-star reviews on its website. On Instagram, it has garnered a following of around 7,900 followers and on Facebook, it has a following of over 4,600 followers.
Rapid Rope is located in Idaho and is providing employment and roping to its residents. All signs indicate that the deal with Barbara has gone a long way in making the company a bigger success. What it lacked when it started has now been gotten because it now has money and its founders have the free time to make the business grow.