What Happened to Mr. Poncho After the Shark Tank Pitch?
What is Mr. Poncho?
Mr. Poncho is an MP3 player protection case with a tangle-free design for your headphones.
Who Founded Mr. Poncho?
Sandy Hyun and Roman Pietrs launched Mr. Poncho in New York.
Sandy is and has long been a jewellery designer. On the side, Roman is a musician and graphic designer.
Sandy has a jewellery website where she develops and sells her creations.
Roman is a Creative Director at Global Popstar Design.
Sandy has always had an artistic bent for design as a jewellery designer.
She started thinking of Mr. Poncho after noticing a need to solve an everyday issue. Sandy conveyed her design proposal to Roman, and he approved right away.
She came up with a sleeve cover that was enhanced by the inclusion of a rubber cup.
To secure the headphone cord, the user wraps it around the cup’s centre and folds back the edges.
Sandy started making them herself and, with Roman’s help, started selling them online and fulfilling orders from their flat.
What Happened to Mr. Poncho at the Shark Tank Pitch?
They recognized the potential for growth after grossing around $45,000.00 over two years; however, they sought financing primarily to establish an office outside of their residence.
With this in mind, they started looking for investors.
Sandy Hyun and Roman Pietrs make an appearance on Shark Tank in exchange for $50,000 and a 25% stake in Mr. Poncho. This gives a valuation of $200,000.
They try to calm the ferocious Sharks with a musical introduction.
They chant the product’s name, which amuses and perplexes the Sharks.
Pietrs’ singing ability has earned Robert Herjavec’s admiration.
The pair gets right to work, presenting their wares and giving sharks samples.
Kevin O’Leary wants to know if the entrepreneurs have a patent on their invention.
Pietrs points out that they have a pending patent on the device but not on the cup, which is a key component in the Mr. Poncho cases.
While the pair has had some success, selling over 5,000 pieces, the Sharks want more specifics.
Kevin Harrington inquires about the Mr. Poncho’s manufacturing cost and sale price.
With a $3 material cost and a $18 sales price, it’s clear that the pair priced their goods to sell and profit.
Daymond John wants to know if they’ve done any market research on manufacturers for mass production. He’s curious about Mr. Poncho’s wholesale price.
Huyn estimates the manufacturing cost to be “around $1” based on the cost of the supplies, but the pair has yet to conduct their research.
According to Robert Herjavec, he is opposed to the product because his children would not buy it. He is out due to the lack of a patent on the cup.
Barbara Corcoran also left, citing a lack of patent on the product.
Kevin O’Leary advises the couple not to “quit their day jobs.” He’s already gone.
The venture is described as “premature” by Daymond John. He then walks away, pointing out various flaws in the product.
Kevin Harrington believes the couple has a “wonderful home company,” but he is unable to invest in it. The last Shark leaves the Shark Tank, and the couple leaves without a contract from the Sharks.
What Happened to Mr. Poncho After the Shark Tank Pitch?
They continued to sell their Mr. Poncho product directly through websites like Esty, but their goal of mass manufacturing was hampered by the lack of a proprietary patent on the primary component of their Mr. Poncho cases.
Mr. Poncho is no longer in business, but Sandy’s jewellery collection is still available online and in hundreds of retail locations across the country, including Anthropologie, Neiman Marcus, Nordstrom, and several small, independent jewellers and shopkeepers.
As of July 2021, Sandy earns approximately $1 million per year from her jewellery, and Roman is a Creative Director at Global Popstar Design.
What is the Net Worth of Mr. Poncho?
Sandy Hyun and Roman Pietrs made an appearance on Shark Tank in exchange for $50,000 and a 25% stake in Mr. Poncho. This gives a valuation of $200,000.
Who are the Competitors of Mr. Poncho?
Mr. Poncho does not have any direct competitors.
Mr. Poncho FAQS
Who founded Mr. Poncho?
Mr. Poncho is the brainchild of Sandy Hyun and Roman Pietrs.
What was Mr. Poncho’s biggest strength?
The product is intended to keep headphones from tangling, making it suitable for use by children and spouses.
What was Mr. Poncho’s biggest weakness?
The primary component of their Mr. Poncho cases does not have a patent.
Did Mr. Poncho get a deal from Shark Tank?
Sandy Hyun and Roman Pietrs, founders of Mr. Poncho, appeared on Shark Tank in search of $50,000 for a 25% stake in their company, but they were turned down.
Which episode of Shark Tank featured Mr. Poncho?
Mr. Poncho appeared in Season 1 Episode 10.
Where can they buy Mr. Poncho?
Mr. Poncho’s company is no longer in operation.
How do they make money?
Direct sales via their website and other online channels.
How does Mr. Poncho work?
Their product allows headphone users to avoid cord tangling and wrapping.
What is Mr. Poncho’s revenue?
Sandy Hyun, the founder of Mr. Poncho, earned approximately $1 million per year from her jewelry as of July 2021.
How much money has Mr. Poncho made?
Over the course of two years, the duo earned approximately $45,000 and recognized the potential for growth; they sought funding primarily to establish an office outside of their residence.
How much does it costs to purchase Mr. Poncho?
The cost of their product is $18.
Is Mr. Poncho still in business?
Mr. Poncho’s company is no longer in operation.
How did they come up with the name?
They chose the name because they thought it was ironic.
What industry is Mr. Poncho in?
They used to work in consumer electronics, but now they focus on jewelry and accessories like earrings, necklaces, handbags, and cell phone cases.
Who has the patent on their patents?
The product itself is the subject of a pending patent. They haven’t applied for a patent on the cup yet.
Who manufactures Mr. Poncho?
Sandy Hyun and Roman Pietrs create Mr. Poncho in their home workshop.
What else is Mr. Poncho known for?
They are also well-known for their work on jewelry and accessories like earrings, necklaces, handbags, and cell phone cases.
