Yono Clip Before Shark
Whether you’re going to the gym or having a night out, one thing is certain, you will need somewhere to hang your things. A fun night out can get problematic when there’s nowhere to put your things because there are too many germs and dirt everywhere you look. As for the gym, well, of course, every gym will provide you with a place to hang your clothes but running out of space is a common problem and you’re left wondering if you have to put them on the floor but you don’t want to because there are too many germs and dirt.
Michael Green and Bob Mackey were very enthusiastic about learning and Michael had even created his own company Science for Everyone that presented interactive science shows. The pair had met years before at Summer Fest. Michael and Bob combined their knowledge to develop the Yono Clip.
The Yono Clip is a clip with a suction system that made it easy to attach to any surface whether it was vertical, horizontal, or diagonal. The Yono Clip also had a carabineer clip which made its hook systems easy to change. Michael and Bob had a Kickstarter to raise some money and then launched the business.
The pair had only been in business for 2 months when they decided to seek help from the Shark Tank to boost sales and increase the capital that they needed to expand the business. They were on the 12th episode of season 12.
Yono Clip on Shark Tank
Michael Green and Bob Mackey went to Shark Tank seeking $150,000 for 15% of their business. This gave the Yono Clip a valuation of $1,500,000. They started their presentation by showing the sharks the problems people experienced carrying their luggage around. They then showed the shakes the solutions that the Yono Clip offered and how convenient it was. They also showed the sharks all the attachment options that the clip had before giving the sharks time to review the samples that they had been given.
Lori then confirmed the surfaces that the Yono Clip could be attached to because Michael and Bob had said that it could be attached to any porous surface. This would include metal, glass, or plastic. She then asked the pair what surfaces that clip would not work on. She was told that it would not work on brick. She asked what material the suction cup was made of because to her it felt very tacky but also very sticky.
She then confirmed how it worked by asking the pair if pulling its hook is what caused a suction backdraft. Bob said that things would be better if they saw the video. They then showed a video of the Yono Clip showing its parts and how it worked. Michaels also said that the clip could be attached to a vertical, horizontal, or diagonal surface.
Michael said that a lot of people looked at the product and thought of a purse hook on steroids but he showed the sharks that the Yono Clip works on surfaces and positions that a purse hook could never be attached on. After Michael’s explanation, Daymond was curious as to why they had not made the Yono Clip with more of a curve on it. This would allow for it to pull some things on it. He also thought that his suggestion could be used to be some rendition of it.
Michael said that you could hang those things from the Yono Clip’s carabiner clip. Daymond hadn’t seen that the Yono clip also had a carabiner clip where things could be attached. Lori then asked to know a bit about them. Michael said that Robert and he met about 10 years before at a youth technology summit called Stemfest. He said that ever since that time they had been great friends.
Michael also said that he owned a company called Science for Everyone. The business would present interactive science shows for everyone across the country. Mark Cuban asked him what kind of science he featured on his shows and Michael said that his show presented physical sciences and earth sciences. Michael then said that for them, the Yono Clip was much more than a product it was also a lighthouse.
Mark Cuban asked him if he would demonstrate the science behind it. Michael said that was the reason why. Michael said that he encouraged children to be the best versions of themselves every day. Lori then asked Bob about his history.
Bob said that the reason why he was at the Stemfest was that he was a speaker at the event. Many of the children were disadvantaged youth and he grew up as a disadvantaged youth. Bob said that he was a high school dropout and he had to help to provide for his family as he dropped out of high school. He then obtained a GED and went to a 4-year college. He became the president of boys and girls clubs in North and Central Georgia which was a big accomplishment for him. Michael said that he wanted to be that person that he never had.
Mark Cuban commended him for his accomplishments. Bob then said that he became friends with Michael and it was very hard to become friends with good people. Bob said that if he ever went into business, he wanted to do it with somebody reliable and he could believe in. He also wanted to do business with someone who wasn’t afraid to put their feet in the mud and he found that person in Michael.
Kevin then asked Michael and Bob about their sales. Bob said that as far as sales were concerned, they were a fairly new company. He added that they had been in business for only 2 months but they had made $14,500. Barbara said that they were brave men. Kevin then asked them what their cost of Research and Development was and he was told that they had launched a Kickstarter campaign and it had raised $10,000 in a day.
Mark Cuban then asked them where the other $4,000 had come from since they had got $10,000 from Kickstarter. Bob said that the other $4,000 had come from their website and the gym. Mark Cuban then asked them what their cost of manufacture was and what their cost of sales was.
Mark Cuban asked them what they were selling their Yono Clips for and what their cost of manufacture was. Bob said that they were made in their homes and garages and they were 3-d printed their retail price was $20 and it cost $10 to make them. Mark thought that the cost of manufacture was quite high. Michael said that one of the reasons why they needed the money was because they wanted to go from 3-D printing to a Molded design which would lower their cost of manufacture to $5.
Lori said that they were only beginning and Bob agreed and said that they could only print 10-15 a week. Barbara thought that the product would not perform well in a cluttered market and it would never be anything more than a side hustle for them for those reasons she left. Mark Cuban thought that they had a tough road ahead of them because it was not the kind of product that people saw and wanted to buy it immediately and for that reason, he left.
Kevin then left because he was working with a company that did the same thing. Lori said that as an investor she was out because she liked to go with things that are unique but she would hook them up with some injection molders. Daymond then offered them $150,000 for 30%. He said that they had greatly overvalued the company and they needed more help than they anticipated to make it a success.
Michael offered Daymond $150,000 for 20%. Daymond declined and the other sharks advised Michael and Bob to take Daymond’s offer. Michael and Bob then accepted Daymond’s offer. Michael said that he grew up wearing Daymond’s clothing and he now had Daymond as a partner and that was very exciting.
Yono Clip Now in 2023 – The After Shark Tank Update
So the Yono Clip founders partnered with Daymond and went on to launch their website where the Yono Clip is now sold. The Yono Clip is now available in a variety of colors including pink, red, and black. The Yono Clip holds up to 15 pounds.
The Yono Clip has had competition from many other businesses that provide portable hooks that rely on a suction mechanism. The clips are just as efficient and are in major retailers such as Amazon so they will not be experiencing minor competition. Their competitors also get very high ratings- more than 4 out of 5 stars- while getting national recognition is still not yet done for them.
On Instagram, the Yono Clip has more than 1,500 followers. It also has over 2,500 followers on Facebook. Unfortunately, their activities do look to have slowed down, their Facebook page was last updated in February 2021. Their Instagram page was also last updated in October of 2022.
The annual revenue of the Yono Clip has not been disclosed. It was located in Atlanta Georgia and although it has not had the most explosive progress it is still a product that needs to be watched and a business with a lot of room for growth. Sales and distribution are not easy but once they are got right, there is not much that will stand in their way.