KidRunner – Hands-free Running Stroller
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 22, 2016
Asking For:
$500,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
KidRunner is the world's first and only high-performance, multi-terrain, hands- and arms-free kid jogger designed to provide active parents with a safe and comfortable solution for running with their children.
WATCH HERE
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Background Story
Will Warne, joined by world-champion runner Max King and a friend named Sophie, introduces KidRunner on Shark Tank. The product was born out of the founders’ frustration with conventional strollers that compromise fitness and freedom for parents. They wanted a solution that allowed them to maintain an active lifestyle while spending quality time with their children. KidRunner was developed to address this need, offering a hands- and arms-free jogging experience for parents with a focus on safety, comfort, and high performance. Will and his partners spent years perfecting the design, investing $73,000 in the process.
The Product
KidRunner is a hands- and arms-free jogger designed for active parents who want to maintain their fitness routine while spending time with their children. The product features a multi-terrain design, ensuring it performs well in various environments. Safety is a top priority, with a five-point harness meeting or exceeding ASTM standards to secure the child in place.
The prototype demonstrated on Shark Tank has quick-release wheels for easy disassembly, making it convenient for transportation. KidRunner is positioned as a premium product with a price tag of $750, emphasizing its high-quality construction and innovative design.
The founders addressed concerns about child engagement, stating that the design allows parents to easily see and interact with their child while running. They also mentioned an ambassador program that involved elite and everyday parents testing and providing feedback on prototypes.
How It Went
The company’s position before Shark Tank
KidRunner is still in the pre-order phase, having conducted a Kickstarter campaign to raise funds for building prototypes and involving an ambassador program for testing. Despite setting a goal of $100,000, they only raised $6,000 to $7,000. However, they claimed to have a sign-up list of over 1,200 potential customers who expressed interest in being early adopters.
The founders mentioned setting up retail ambassadors, an online B2C site, and an e-commerce plug-in, indicating efforts to establish a distribution network. The company’s approach to product development seems meticulous, with a focus on addressing safety concerns and fine-tuning the design for a high-performance experience.
The Negotiations:
The sharks expressed various concerns during the pitch, including the market potential, the safety and engagement of the child, and the extended development timeline. Robert Herjavec showed interest in the product’s uniqueness but eventually dropped out due to perceived marketing challenges. Kevin O’Leary raised significant concerns about customer acquisition, citing his experience in the educational market.
Barbara Corcoran questioned the entrepreneur’s ability to execute the product launch effectively, expressing doubt about their commitment to delivering the product with substantial sales. She, along with Mark Cuban, eventually opted out. The remaining sharks shared Kevin O’Leary’s concern about the difficulty of capturing the target market and the potential challenges in customer acquisition. In the end, none of the sharks made an offer, and the founders left without securing a deal. The sharks collectively agreed with Barbara Corcoran’s assessment of the entrepreneur’s approach, emphasizing the need for practicality over perfection in product development.
