Alan Draper
The first set of entrepreneurs to enter the “West Texas Investors Club” Clubhouse are Jeremiah Raber & Matt Heck of Nutshellz, seeking $300,000 for 20 percent equity.
Nutshellz boasts being the strongest groin protector in the world. Their market is those who participate in high-risk sports such as hockey, lacrosse and the MMA, or high-risk professions like the military and law enforcement, according to their website.
Rooster McConaughey and Butch Gilliam waste no time putting it to the test. They set up mannequins, hitting them with 90-mile-per-hour baseballs, as compared to regular cups. They take it up a notch and test whether it will stop a bullet, which it does. The entrepreneurs themselves have even tested that previously. Taking it to the ultimate extreme, they blow up the mannequin, however, the cup doesn’t survive.
After their video, which garnered over half a million views, they had a short “sales spike,” in which they sold 25 cups in one month. With an investment, they hope to produce lighter cups and in larger quantities. They’ve sold $50,000 worth of product since 2012.
Gilliam asks for their Plan B, however, instead of giving one, they try to convince him and McConaughey that they are positive it will work and they will be successful. They’re concerned that they haven’t sold more and question their market, and they hope to target athletes. McConaughey and Gilliam aren’t convinced though, and they believe they should focus their efforts on law enforcement.
Social reactions to Nutshellz’s appearance on “West Texas Investors Club”:
We see some real potential in law enforcement here. What do ya'll think? #WestTexasInvestors
— Butch Gilliam (@Just_Butch_) July 27, 2016
If Nut Shells didnt get a deal then they wouldve got NUTtin. #WestTexasInvestors
— Mike G (@mpg611) July 27, 2016
@WTexasInvestors @nutshells As a branding and trademark guy, I'd suggest rebranding with the word "bulletproof" in the new name.
— Trademark Man (@TrademarkMan) July 27, 2016
They offer $100,000 for a third of the business, which they feel as though they can’t accept. They counter $150,000 and McConaughey counters back at $125,000. They struggle with their decision but ultimately accept their offer.
What are your thoughts on the Nutshellz cup?
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This article was written for Business 2 Community by Alan Draper.
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