Frywall
Frywall is an accessory for the kitchen by a company from Brooklyn, NY, that attempts to reduce cooking splatter. The product is a silicon guard that resembles a dog collar and sits inside pans to collect stray droplets of oil and sauce when cooking. Essentially, it acts as a removable raised side to the cookware.
The Frywall can be used in temperatures as high as 450-degrees Fahrenheit, is dishwasher safe, and can be rolled up for storage.
The inventor and entrepreneur was a home cook who wanted something like what he created but could find nothing like it on the market. When he was laid off, he decided to create it himself and, in three months, had created a prototype. Three months after that, he successfully had it on the market.
The Frywall comes in various sizes to accomodate a range of cookware sizes and costs $5.50 per unit on average to manufacture. The product sells for $25 per unit.
In one year, the Frywall has grossed $800,000 in sales with 70% of those being made online.
The product is currently in fifty-five independent retailers. The entrepreneur attempted to get it carried by Walmart but they declined because he was unable or unwilling to bring the price down. He is currently in talks with Bed, Bath & Beyond to carry the product.
The entrepreneur is interested in pursuing a retail strategy to crowd out any copycats despite holding a patent on the product.[1]
This deal aired on Episode 9.14.
Making A Deal
Lori liked what the Frywall had to offer and gave the entrepreneur exactly what he was looking for, $100,000 for 10% equity in the business. This meant that there was no Shark Tank Bite at all!
Notes
- ↑ A patent for this product was actually found.