AirBedz
BEST PART OF THE PITCH: AirBedz is the original truck bed air mattress. The cutout design allows the mattress to go around, and more importantly, go on top of the truck’s wheel wells. This creates a sleep area that utilizes the entire back of the truck. It’s rugged and durable. It’s easy enough to inflate and deflate from a power source that uses a rechargeable battery. Jim had $210,000 in sales last year and may double it by the end of this year.
DO THE SHARKS BITE? Kevin believes this is a small niche market. That’s why he believes Jim has such a big inventory at this time. He has no interest in investing in this product. He’s out. Mark believes there’s a market for this product, but Jim needs to get out there and sell it. He’s out. Robert also believes that Jim hasn’t proved this is the great product yet. He’s out. Daymond follows his lead. Barbara is on the fence because she doesn’t believe Jim is a good salesperson. She offers $250k for 50% of the company. She also wants Jim to get out of the way as a salesperson.
THE RESULT: Jim makes a counteroffer. He’s only willing to give up 25% of his company. Barbara gives him a moment to reconsider, but that’s Jim’s final offer. Barbara says good luck to him just before declaring she’s out. Looks like Jim will have to get into bed with an investor outside the tank.
LEARN MORE: Visit www.truckairbedz.com
I think he needs to re-think the target market.
1. How many pick up trucks are there–who, where.
2. What am I solving for and how many people need or want this solved.
3. Is there another market I can solve for–SUV, MINI-vans, cross-overs.
4. Is having a more comprehensive solution–tent+bed over the truck bed
a better positioned solution. Components still can be sold seperately.
Pickup truck rental companies also provide accessories such as loading ramps, blankets, and furniture pads, tie-down straps, and a dolly. You can use them to off load your luggage when you reach your destination. The rates are based on the actual distance traveled, space taken by the luggage, and its weight. You do not have to drive the truck, as the company provides a driver.
Jim had $210,000 in sales last year
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