Teddy Needs a Bath was invented when Huntington Beach, California “momtrepreneur” Nicole Townend couldn't find a simple way to clean her daughter's stuffed animals after they got filthy from frequent use and encounters with the family dog. She looked for a product that would allow her to safely clean the dirty, plush toys and found none; so she invented one! Teddy Needs a Bath is a zippered, cotton fabric bag that has just the right amount of porosity to allow dirty stuffed toys to come clean in the washing machine without getting ripped apart. Germs, dust mites, and lice can fester in dirty stuffed toys and they should be washed once a month or so with regular use. Nicole pitches Teddy Needs a Bath in Episode 414.
The Teddy Needs a Bath Shark Tank Recap
Nicole entered the Shark Tank seeking $50k for a 10% share of Teddy Needs a Bath. The Sharks like that Nicole's had $12,000 in sales on the Babies R Us website. Lori likes the product and sees a need, but she thinks she's seen similar bags; she's out. Robert can't see a market and he goes out. Daymond thinks it's too early, he's out too. Mr. Wonderful offers $50K for 50%, but he wants 10% off the top until he recoups his investment. Mark offers $100K for 40%. Kevin drops the royalty and the percentage goes to 30%. Nicole steps into the hall to talk to her husband and when she returns, she counter Mark with $100K for 30% plus a 10% royalty until he gets his investment back. Mark says, “Done, done and done,” and Nicole leaves the Shark tank with funding for Teddy Needs a Bath.
Teddy Needs a Bath Shark Tank Update
The deal made between Nicole and Mark Cuban on air did not go through as seen in the Shark Tank. Cuban is working with Teddy Needs a Bath, but not as an investor. Cuban loaned Nicole the money to finance Purchase orders. Teddy Needs a Bath will be on the shelves at all Babies R Us and Bye Bye Babies stores. Traditional purchase order financing ranges from 15% to 20% interest for short term loans. Mark Cuban is financing Nicole for a better rate. He's become a financier and advisor to the business.
Teddy Needs a Bath is featured in an update segment in episode 501 from season 5. She's in over 450 Babies R Us stores. In the update, Nicole reveals she has a deal with the world's largest Teddy bear maker: Gund. They're taking over all the manufacturing and distribution and Nicole and her family moved to Hawaii!