Permaplug Charger Lock Shark Tank | Season 16
Permaplug Charger Lock stops lost, stolen, and unplugged chargers. Learn all about Zak Jones’ pitch.
Do you also hate it when you can’t find your phone? It’s like it disappears again and again. Well, the Permaplug Charger Lock is a solution to that problem.
According to founder Zak Jones, electronic devices are a part of our everyday life now. They are not going anywhere. So it’s important that we keep them safe. The founder brought his business to pitch it on Shark Tank season 16 episode 28.
Would the Sharks feel the same way about their cables and chargers?
About Permaplug Charger Lock
| Category | Details |
| Founder | Zak Jones |
| Product Type | Charger Lock |
| Funding (Pre-Shark Tank) | Self Funded |
| Investment Asked | $350,000 |
| Equity Offered | 15% |
What Happened on the Shark Tank Episode?
Zak Jones pitched his business, Permaplug Charger Lock, to the Sharks. He demonstrated how to set it up, explained the need for the product, and highlighted the efficiency his locks offer. While he was still presenting, Shark Kevin interrupted, thinking Zak was finished. He said, “Zac, honey, sweetie, poopsie baby.” But then he let the entrepreneur finish his presentation. From that moment on, Zak earned a nickname.
Daniel said, “Poopsie baby, the issue is this solves the problem in your home. But what happens when you’re in a hotel room?” He added that it’s not practical when you’re on the road, it’s just for permanent setups.
To this, the entrepreneur responded, “It depends.” He explained that hotels could actually be their buyers. Hotels can provide the product for their guests.
The Sharks asked the founder about the sales of the product. He said, “We’ve made $2,000 worth of sales today.” They have made $456,000 in sales year-to-date.
Robert asked him how he managed to generate so many sales. He replied that he did it all himself. The lifetime sales total is $665,000. The product is fully direct-to-consumer. Promotion is done primarily through social media, and the business also sells on Amazon.
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What Makes Permaplug Charger Lock Unique?
Permaplug charger lock is a proprietary locking system. It keeps your chargers and cables in place. Once you put your charger in, it can not be moved, stolen, or accidentally unplugged.
There is a locking, a dual fast charger, and up to two charging cables. It is fully patented. You place the Permaplug charger lock directly on our upper outlet. Then you screw it back in, for added protection.
Did Permaplug Charger Lock Get a Deal on Shark Tank?
Once the business model was discussed, they started discussing offers.
- Kevin makes an offer. He offered $350k for a 15% stake + a royalty of $2 per unit in perpetuity.
- Daniel offers $350k for a 25% stake.
- Lori offered $350k for 20% of the company, plus a royalty of $1 until the money is paid.
The entrepreneur Zak Jones makes a deal with Shark Lori.
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What Happened to Permaplug Charger Lock After Shark Tank?
After the show, a lot more people know about Permaplug. They even started shipping to Canada and Mexico, not just the US. People who bought it say it’s really helpful for keeping phone chargers from getting lost or taken. Especially if you have kids, it is your savior.
Where Can You Buy It?
Get the amazing Permaplug Charger Lock from their official website. They have ongoing “shark tank special” offers. The product is also available on Amazon. Check out their social media for regular updates, they are very active online.
Quick Summary
- Zak Jones pitched his brand Permaplug Charger Lock on the shark tank.
- This Lock lets you hold your chargers and cables securely at the plug point.
- Entrepreneur Zak secured a deal with Shark Lori.
