Adam and Desiree Haller hope to pack up a deal for SubSafe, their crush proof, waterproof cooler for sub sandwiches, in Shark Tank episode 1009. The Florida couple likes two things most Floridians do: Publix subs and outdoor recreation. They became increasingly frustrated when they came home from fishing trips with soggy subs – the ones that get wet from melting cooler ice.
Adam didn't like the idea of single use plastics, so he looked for a container that would hold a sub sandwich. When he couldn't find one, the couple designed their own. The patented Sub Safe holds either 6 or 12 inch subs. It also doubles as cups or dry storage for anything that will fit inside.
They started the business in February, 2018. When they taped to appear in the Tank, their business was only a few months old. The SubSafe comes in three colors: pink, blue and charcoal. They cost $17.95 each. There are optional straps for $3.50 each, too. They donate $0.50 from each sale to Provision Packs, an organization that provides food for underprivileged children. The Hallers hope a Shark can help them take them to the next level.
SubSafe Company Information
Posts about SubSafe on Shark Tank Blog
SubSafe Shark Tank Recap
Gary and Dan enter seeking $50,000 for 13% of the business. They explain the origins of the product and hand out samples. Sales are just $40,000 for the first four months in business. Margins are good: they make each Sub Safe for just $2.38 and retail it for $17.95.
The Sharks are concerned by the low sales, but the couple shares how they sold their boat to finance production and had nothing left for marketing. They say they're on the verge of a deal with the biggest sub maker in the nation. Still, Lori goes out because the market is so narrow. Mark and Kevin mull over making an offer, but they're concerned with the amount of equity they'd ask for.
Meanwhile, Mark and Charles are chatting off to the side. They come in with an offer of $100,000 ($50K each) for 25% of the company. The couple immediately accepts.
SubSafe Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. While it's unclear whether the deal closed yet, one thing is clear: Sub Safe is in every Publix supermarket, right in the deli section where people order subs. They reduced the pricer to $14.95 and the product is getting rave reviews.