Kwik-Hang
Kwik-Hang is a company from Cumberland, RI, started by a police officer to make hanging curtains easier.
Kiwk-Hang manufactures a "proprietary bracket" that claims to make make hanging curtain rods easy on the average homeowner with no measuring required.
The company was started in 2013 by the entrepreneur's father who began the business based on a one-off idea by his boss. When the entrepreneur's father presented his boss with the original product and asked him to patent and sell it, his boss laughed at him.
"That's the wrong thing to say to my dad," the entrepreneur said. Unfortunately, the entrepreneur's father died the previous April.
The previous year, the company grossed $31,000, a decline from the year before that where they grossed $41,000. In the previous three years, the company grossed $120,000 in gross sales on their two products, a "small" and a "double". The small costs $3.15 per unit landed and sells for $10.95 while the double costs $4 per unit and sells for $17.95.
All sales are 100% online through channels such as eBay and Amazon.
From profits of $31,000 in the previous year, the company saw profits of $7,000.
The entrepreneur is currently a full time police officer but would like an investment from the sharks to retire and pursue the business full time. The sharks were all concerned about the dip in sales year-over-year.
Lori offered that it would make an excellent licensing play but still opted out as did all the other sharks. Kwik-Hang left the tank without a deal.
This deal aired on Episode 9.05.
Errata
Robert mentioned that before his father came to Canada, he had been arrested and thrown in jail twenty-three times.