BabyQuip

babyquipMother/son entrepreneurs Fran and Joe Maier seek an investor for BabyQuip, their baby gear rental business, in Shark Tank episode 1106. The Maiers started the business in 2016 and its grown quickly, largely due to their business model of utilizing partners called “Quality Providers” who do the local, on the ground service delivery.

Formerly called Babyierge, BabyQuip changed the name due to the growth of voice activated search which bumbled searches for the previous name. The way it works is people traveling with babies often need things like car seats, cribs and strollers (among other things) at there final destination. Traveling with all that gear is cumbersome and expensive with new airline baggage policies. With BabyQuip, parents can rent all the baby gear for a modest cost.

It’s the “Quality Providers” who deliver the goods at the final destination. People with a lot of extra baby gear can rent their stuff out to traveling parents. They’ll also provide consumables like diapers or formula for an added fee. The Quality provider pays a one-time set up fee of $100 plus an 18.5% fee on each rental. BabyQuip provides the nationwide platform and insurance. Quality Providers pay for the insurance on a sliding scale based on the volume of rentals they do each month. The average Quality Provider earns around $600 per month. Most providers are moms seeking a “side hustle.”

True Tech Leadership

The company boasts over 500 providers nationwide – up from about 225 less than two years ago. The Maiers are no strangers to tech. Fran is on a dozen tech company boards and was a co-founder of Match.com. Son Joe was a technology consultant at Accenture where he designed web applications. Together, they – along with their tech savvy staff, hope to make BabyQuip the AirBNB of baby gear rental. Will a Shark help them get equipped for further success?

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Baby Quip – Baby Gear Rental Service

BabyQuip Shark Tank Recap

Joe and Fran enter seeking $500,000 for 5% of their business. The Sharks understand what they are trying to do, but they are worried they’ll need too much cash or a big investor to grow the brand. The Sharks also like the Quality Provider concept since it gives opportunities to the largely single mom provider force. The only Shark to make an offer is Mr. Wonderful. He offers $500,000 for 20%, but Fran and Joe won’t give up that much equity and leave with no deal.

BabyQuip Shark Tank Update

The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Since the first airing in early March, 2020, the nation has been under lockdown due to the Covid-19 pandemic. This has hurt their business but quality providers and the company have pivotted to offer cleaning and home shopping services.

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