Critter Pricker – Raccoon Spikes
DEAL
EPISODE SUMMARY
🕓 Air Date: March 27, 2020
Asking For:
$115,000 for 15%
Investor:
Kevin O'Leary
Deal:
$115,000 for 15% + $2.50/unit royalty in perpetuity
PRODUCT SUMMARY
Critter Pricker is a humane solution to protect properties from raccoons and other wildlife using patented plastic strips that are uncomfortable for animals to touch.
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Background Story
Joe Balistreri, the founder of Critter Pricker, hails from Shohola, Pennsylvania. With 15 years of experience in the pest-control industry, Joe identified the common issue of raccoons causing damage to properties. Having witnessed the challenges property owners faced in dealing with these pesky animals, he decided to invent a humane solution. His extensive experience in pest control provided the knowledge and insight to create the Critter Pricker.
The product was born out of a necessity to protect property without resorting to harmful measures. Joe observed the behavior of raccoons and leveraged their hypersensitive hands and lack of depth perception to create a deterrent that is effective yet humane. The desire to offer a practical and non-lethal solution led to the development of the patented plastic strips that make up the Critter Pricker.
The Product
The Critter Pricker is made of strong polypropylene plastic strips that easily snap together. These strips can be customized for various locations, such as fences, bird feeders, and pool areas. The live hinges of the product allow flexibility in shaping it around square and circle locations.
The design ensures that once raccoons or other animals come in contact with the strips, they quickly move on due to the discomfort caused. The installation process involves placing the Critter Pricker in specific areas where raccoons tend to cause trouble, such as around the front step of a pool.
The product is versatile and can be moved when necessary. Pricing ranges from $27.99 to $32.99 online, with a production cost of $8.
How It Went
The company’s position before Shark Tank
As of the pitch, Critter Pricker had generated $80,000 in sales for the year. Joe mentioned that he ran out of stock six weeks ago due to high demand from pool technicians who purchased the product after a trade show in Orlando. The positive response from industry professionals indicates a market need for the Critter Pricker.
Despite the impressive sales, Joe faced concerns from the Sharks regarding liability issues and potential dangers associated with the product. The negotiation with Kevin O’Leary resulted in a deal where O’Leary offered the requested $115,000 for 15% equity and a perpetual royalty of $2.50 per unit sold.
The Negotiations:
The negotiations saw a cautious response from the Sharks due to concerns about potential injuries, liability, and the need for customer education. Lori Greiner and Mark Cuban opted out due to safety concerns and liability issues. Kevin O’Leary, recognizing the product’s merit, made an offer of $115,000 for 15% equity and a perpetual royalty of $2.50 per unit.
Joe accepted the deal, securing a partnership with O’Leary to further grow Critter Pricker. In the end, Joe expressed gratitude for proving doubters wrong and achieving success with his innovative solution to a persistent problem.
