During a recent interview with Business Insider, CEO Mike Cacciamani discussed his company’s recent success and its future growth potential. In addition to showcasing some of the company’s achievements, the article also discusses the company’s origins, and how it came to be.
Splash Beverage Group
Among the many beverage companies out there, Splash Beverage has managed to carve out a niche for itself. Led by a management team with beverage industry experience, the company’s products are sold through retailers and direct to consumer channels. Some of its most notable achievements include a hefty $15 million IPO on the New York Stock Exchange, and the acquisition of an OTC listed medical supplies distributor. It is also among the few beverage companies to have an e-commerce presence. In a nutshell, Splash Beverage is a beverage conglomerate with a big mouth. The company has a few high-profile names in its hopper, including SALT, SALT flavored tequilas and TapouT, a performance hydration and recovery drink. The company is also in the business of acquiring branded and unbranded beverages, as well as re-packaging them in new packages, allowing them to be sold under new names.
Splash Beverage’s fiscal year ended in March and the company had a decent amount of cash on hand. Aside from its tequila portfolio, the company also had a solid beverage distribution footprint that included its acquisition of the former Canfield Medical Supply Company, an OTC listed medical supplies distributor. In all, Splash boasts a net worth of more than 8 million dollars in cash and the promise of future success. This is a great time to buy into the company’s vision for the future of the beverage industry. As of this writing, the company was trading at $13.60. In a recent survey of investors, the company was considered to be one of the more popular beverage companies among investors. In fact, the company is on its way to becoming a branded beverage giant in the making.
Xero shoes is a tad more than just footwear. They have partnered with USA Archery and the USA National Swimming Team to name just two. The company has over 57,200 5 star reviews and a 2021 net revenue target to boot. The Xero may be a relative unknown in the footwear industry but the competition is stiff. The company’s top of the line products include the Xero evos and evos pluses. The company has a well rounded marketing plan that includes a strong social media presence. They have also tapped the services of a couple of marketing agencies to help get the company off the ground and on their way to success. Xero shoes is a worthy entrant in the footwear industry. The company has a modest net worth of $2 million dollars with an IPO in the works. The company has a strong focus on the US based market but is starting to see a bit of overseas foot traffic. The company has a large footprint in Mexico and has signed on with brands like Nike, Columbia, and Adidas to name a few.
Mike, Ron, and Kelly
During Season 12 of Shark Tank, StepNPull co-founder Mike Sewell and the company’s sales manager, Ron Ely, pitched their company to the Sharks. They’re hoping that they can secure funding to expand their business.
The company started out as a side business for three owners. It was initially sold out of their garage. In the months after the flu pandemic, they were able to generate over $1 million in sales. They also established distribution partners in Australia and Slovenia. They now expect to sell between 150,000 and 200,000 units in 2020, which would mean a 1,000% increase over last year.
The company is located in Springfield, Missouri. Its product is an L-shaped aluminum device that mounts perpendicular to the bottom of a commercial door. The device allows users to open doors without having to touch them. It also helps to prevent the spread of germs.
The company has gained new corporate clients, including Pizza Hut, NASA, Whole Foods, and the University of Houston. Its sales have grown from 4,000 units in March to over 13,000 units in the last year. The company has received national attention.
The StepNPull Company was featured on Shark Tank on April 2 in 2021. The owners anticipate increased demand after the show. They also hope to land an investor. They have received offers from Lori Greiner, Kevin O’Leary, and Daymond John. O’Leary offered $300,000 for a 10% equity stake in the company. Greiner also offered a 5% equity deal with an option to increase to a 12% equity stake. He also included $0.50 royalty per unit until the $500,000 was paid back.
Kevin “Mr. Wonderful” O’Leary offered $300,000 for 10% equity and a 6% equity deal. He said that he would be willing to work with the International Door Association to make StepNpull the standard for all commercial doors. He also said he would bring production costs down.
Origins of the company
Whether you are in the market for a new footrest for your bathroom or simply tired of opening your door by hand, you might be interested in the origins of Stepnpull. The company was formed by two telecommunications veterans, Kelly Coddington and Ron Ely. They stumbled upon a nifty little door opener that uses your foot to open your door. It is a UL certified product and comes in a variety of colors and finishes. It’s also been spotted at several major retailers, including Lowe’s. As with any startup, the company needs more employees to keep up with demand.
Several offers were sent their way. One in particular caught the attention of CEO Mike Sewell, who was looking for a new challenge. The company subsequently signed a deal with Lowe’s. The company also secured distribution deals with major corporations in Australia, Slovenia, and Hong Kong. There was one drawback, though, as the company will be required to stay silent for a couple of months. The company has also announced plans to expand into a new market, China.
The company also boasts a state-of-the-art manufacturing facility in upstate New York. Although it will be a challenge for the company to compete with competitors like Lowe’s and Amazon, the company is on track to make a profit this year. The best part is that it will be doing business with a newfound plethora of customers. The company has a long list of accolades to its credit, including a prestigious Best Places to Work award. With a new lease on life, the company is ready to take the next step.
The company has a new look, a new name and new plans to continue to make its mark. With a solid foundation in place, the company is looking to grow its footprint.
During the season twelve episode of Shark Tank, entrepreneur Mike Sewell pitched his door opener, StepNpull. The device is an L-shaped aluminum device that fits into any door. It prevents the spread of germs by opening it through the foot.
Sewell sought an investment of $300,000 for three percent equity. Kevin O’Leary, known as “Mr. Wonderful,” offered $300,000 for a six percent stake. Other Sharks joined the deal, with Cuban putting down $500,000 for a fifteen percent stake. But O’Leary was not pleased, and walked off the set in disgust.
After the episode aired, Martin’s phone started ringing. His Oregon-based winery was struggling to make a profit. He was also looking for $600,000 in exchange for thirty percent of his business. But Martin was unable to convince Sharks to invest.
In the end, Martin agreed to take a break and return for another episode. His producers offered Martin a second chance. They also asked him to consider his retail side. They asked him to sell his product through infomercials. He accepted their offer.
After the episode, Hammer and Nails became a franchise. Michael Elliot opened the salon five weeks after the episode. It reported a 270 percent increase in revenue in 2021. It also secured angel investors.
Eco Nuts, which makes organic laundry detergent, was also featured on Fox, Huffington Post, and USA Today. It sold more than 88 million dollars in sales since 2017. In addition to the organic laundry detergent, Eco Nuts also expanded their menu of conscious products.
MealEnders, a company that makes lozenges to curb appetite, was also featured on the show. The company sold 1.4 million dollars worth of product on Amazon in 18 months. They also said that their product wards off desert cravings naturally.