If you are like anyone today, chances are that you love your phone. You take it everywhere you go. You can talk to friends and family and have the entire world at your fingertips. But, sometimes we have accidents. A phone can slip out of the hand, fall out of a bag, or even your pet may take it. Therefore, it’s always good to have insurance or protection for your phone, but there’s also Phoozy from Shark Tank.
What Is Phoozy?
Now, if you are someone who is browsing this website, then you probably have an interest in business. Chances are, you may even watch the reality television show “Shark Tank”.
On one episode way back in 2016, specifically Season 12, Episode 19, there were two men named Kevin Conway and Josh Inglis who came up with Phoozy. What it is is that it’s a protector for your phone, but its advanced design is made from tough materials. The two came up with the idea after their phones had serious accidents. It was Conway who thought of using the reliable material used in the NASA space suits. This was something he was familiar with when he was a part of NASCAR and used similar suits.
The idea was to have a protective device for a phone. It allows the user to have their phone in a variety of outdoor scenarios. The Phoozy itself has thermal, drop, and floating protection for smartphones, tablets, laptops, and more. Because technology and nature often don’t mix, having a damaged device out in the woods, especially if you need help can be a very bad thing.
For example, if the temperature falls below freezing, then the phone shuts itself off. It does this to extend the life of the phone battery by three times. These capsules are so durable against nature that they can meet or even exceed military standards.
What Did Shark Tank Say?
On the episode of “Shark Tank” Inglis and Conway asked for $500,000 for 10% of the business. They had a tight presentation, an excellent demo that showcased the properties of their product, and it had already made almost $2 million in sales, just 36 months after it launched.
During the episode, Lori Greiner and Robert Herjavec teamed up against Kevin O’Leary for the deal. Conway and Inglis would side with Lori and Robert for $500k each for 4% each. But, they had a $1.50 royalty per unit until they regained their investment. The two men were ecstatic as they had spent a long time trying to get on the show.
But, how does Phoozy look now?
Phoozy was an instant hit after its appearance on “Shark Tank”. According to both Conway and Inglis, they saw an increase in sales of over 400%. They claimed that after the episode aired they had no time to celebrate because of how many orders were coming in.
In 2021, Phoozy ended up with a worth of $1.3 million as stated by the Trend Net Worth. Now, the Phoozy team is still hard at work with even new products for sale on their website. Some of their new products include a can cooler that can keep a can up to 10x cooler than a standard one.
They have also gained new distribution channels and even have a social media presence on both Facebook and Instagram. Phoozy also sells on Amazon where they have gotten many positive reviews. The product is known to be quite resilient and durable, giving it a lot of protection from natural forces.
The team over at Phoozy has stated that they plan that their success will give inspiration to others to pursue their very own entrepreneurial dreams. On their website is also the cross-body strap that can carry the Phoozy around.
The Phoozy is a representation of the American Dream. Two men had found a common problem that had no good solutions that also had no market. Thus, using their past experiences and skills, they came up with an idea. That idea was Phoozy and thanks to Phoozy they had already made a few million before even getting on “Shark Tank”.
Now, they are still successful and are offering new products as well. What happened to Phoozy was a miracle and no small fluke. They were fortunate enough to have found a niche and become a dominating presence within that market. Of course, this is already 2022, so there are probably already multiple copycats out there, but they don’t have the astronaut material that makes it work so well.
Putting in that hard work into something that benefits all and then getting on TV can cement your legacy. Those two men had done the dream and continued to push that dream to new heights. Will you do the same?