Hugo's Amazing Tape isn't a new product. It's been around since 2002, but Katherine Saltzberg and Lauri Fraser pitch the product to the Sharks in episode 921. Saltzberg's father, Hugo Maisnik, invented the product by accident and, after getting some major offers from manufacturers to license the adhesive-free tape, decided to market and sell it on his own.
What makes Hugo's Amazing Tape so amazing is its multiple uses. People can use the “tape” for everything from organizing fishing line to holding wires together to auto repair and so much more. Because there's no adhesive, unwrapping stuff is just as easy as wrapping it up. Hugo's can be re-used, too.
Until now, Hugo's Amazing Tape was sold through the company website and at sewing shows where the product was well received due to it's utility for sewers. Recently, they started selling it on Amazon and WalMart.com. Exactly how Saltzberg and Fraser became involved with the business is unclear, but both women are Hollywood personalities, albeit minor ones, in their own right. Perhaps they're using their theatrical experience to bring some attention – and cash from a Shark – to the business when they pitch it in episode 921.
My Take on Hugo's Amazing Tape
This looks like a pretty useful product. My dad actually uses this stuff while building his model planes that he flies. It holds the small parts together without damaging them. He wraps stuff up with the tape while the glue dries. I never gave the stuff a second thought until I saw the company was going to appear on Shark Tank.
I could see using Amazing Tape in my tackle box. I'm always looking for easier ways to organize my fishing tackle. The next time I'm at my dad's house, I'm going to grab some to test. If it works, I will order some for myself. I'm in.
Will Sharks Get Stuck on this Business?
Since the product is more than 15 years old, there should be some solid sales figures. If sales grew over that timespan, their could be interest. If sales were flat or fluctuating, it could scare the Sharks. What I see here is a daughter trying to resurrect a good product her dad had only “wantrepreneurial” interest in. Hugo wanted to sell his tape on his own, Saltzberg sees a bigger opportunity and wants a Shark's help getting the product “out there.”
Which Sharks might have interest? I'm thinking Lori could sell it on QVC (Mr. Wonderful could too). Unless sales are HUGE, I don't see any offers other than from Lori or possibly Kevin. The biggest objection from the Sharks will be the long period from inventing the product to getting serious about it.