Nathan Shaffer wants to get the drop on a Shark when he pitches EveDrop, his Christmas light hanger system, in Shark Tank episode 614. It just isn’t Christmas in the Shark Tank without a product related to Christmas lights. Last year’s Shark Tank Holiday Special featured Lite-Netics, a magnetic Christmas light hanger; Shaffer’s solution doesn’t require buying new lights and it’s permanent.
EveDrop is a sliding, plastic clip that you hang once on your eaves. Screw or caulk the clip onto the eaves of your house and attach the wires; it’s that easy. The wires hold in place with a plastic screw mechanism which slides up so instead of taking your lights down every year, you can just slide them out of sight.
The starter kit costs 63 bucks and comes with 32 EveDrop clips and a pole adapter that you put on a broom stick to slide your Christmas lights up and down. You can buy EveDrop on Amazon or through the company website. Mr. Shaffer wants to see EveDrop right next to the Christmas light displays in every major retailer – that’s why he’s on Shark Tank. He even has a point of purchase display all ready to go.
My Take on EveDrop
There are people in my neighborhood who must double NStar’s December revenue with their Christmas light displays. Dozen’s of homes on our street light up like Las Vegas right after Thanksgiving and I get a twisted pleasure watching the neighbors up on their ladders, hanging their lights.
We have one huge, artificial wreath with lights pre-strung that we hang on the front of our house. It takes about thirty seconds to hang and take down. That’s the extent of our outdoor lighting, so I wouldn’t be a candidate for EveDrop. I asked my neighbor across the street (who has an especially bright display every year) what he thought of EveDrop. I showed him their video on my phone and he thought it was a neat idea. He liked the fact that you could hide the lights out of sight instead of taking them down. He’s old school and doesn’t buy products online (he doesn’t even own a computer), but he said he’d be on the lookout for them at Home Depot.
I think EveDrop will sell well to the Christmas light crowd. Some people have thousands of dollars invested in their holiday displays – another 63 bucks won’t phase them. I think Shaffer has a good, sellable product that would be a good addition to the seasonal aisle at many retailers.
Do Sharks See the Light?
The Sharks liked Lite-netics last year. Both Kevin and Daymond made offers, but they were for too much equity and they got declined. The Sharks see value in seasonal items if the price is right, so if Shaffer is on target with his valuation, he should field an offer or two. I don’t think Mark or Barbara would go for this, but Kevin might.
Mr. Wonderful offered $125 K for 50% of Lite-netics and he wanted to license the product to lighting manufacturers. He could offer a similar deal for EveDrop. If Lori thinks it will sell on QVC, she could make an offer, too. In season six, Robert is enamored with businesses that sell exclusively online. If Shaffer is willing to forego retail, Robert could invest.
I think EveDrop gets at least one offer, but will Mr. Shaffer accept?
