What Happened to Subsafe After the Shark Tank pitch?
What is Subsafe?
Subsafe is a one-of-a-kind container designed specifically for the iconic submarine sandwich.
The container has a long shape and is made up of three parts that come together to produce a completely watertight vessel.
This container is appealing not only because of the various colours available, but also because the plastic used in its production is BPA-free.
As a result, it’s safe to say that Subsafe is intended for people who like eating a wonderful sub sandwich while hiking, camping, or boating.
Of course, you are welcome to bring your Subsafe to work as well, because a sandwich can never be too safe!
Because of the quantity of space provided, a conventional 6- to 12-inch sub may easily fit into the container. You may remove the cover and use the container’s little container to hold your half-eaten or smaller subs if you unscrew one of the container’s sides.
Who are Founded Subsafe?
Subsafe was founded by Adam Haller and Desiree Haller.
Adam and Desiree Haller aim to complete a deal for Subsafe, their crush-proof, waterproof cooler for sub sandwiches, on this Shark Tank episode.
The majority of Floridians prefer Publix sandwiches and outdoor activities, which the Florida pair does as well.
They became more irritated when they returned home from fishing trips with damp subs – the sort that become wet from melting cooler ice.
They started their business in February of 2018.
When they shot for the Tank, their firm had only been open for a few months.
The Sub Safe is available in three colours: pink, blue, and charcoal.
Each one costs $17.95, with optional straps costing $3.50 each.
Provision Packs, a non-profit that provides meals to underprivileged children, earns $0.50 from each sale.
The Hallers are hopeful that a Shark can help them advance to the next level.
What Happened to Subsafe at the Shark Tank pitch?
Adam and Desiree Haller appeared on Shark Tank with a $50,000 offer for a 13% share in their business.
They hand out samples and explain the origins of the product.
Sales during the first four months of the firm are barely $40,000. The profit margins are high: each Sub Safe costs $2.38 to manufacture and retails for $17.95.
The Sharks are concerned about the low sales figures, but the couple explains that they had to sell their boat to fund production, leaving little money for marketing.
They claim to be on the verge of reaching an agreement with the country’s largest subcontractor.
Lori continues to go out despite the fact that the market is so limited.
Mark and Kevin discuss making an offer, but they are concerned due to the quantity of shares they would require.
Meanwhile, Mark and Charles are talking off to the side.
They make a $100,000 offer ($50,000 each) for a quarter-share of the company.
The couple agrees straight away.
What Happened to Subsafe After the Shark Tank pitch?
While it is unknown whether the deal has been completed, one thing is certain: Sub Safe is located in the deli area of every Publix supermarket, where consumers may purchase subs.
The price has been reduced to $14.95, and the product has gotten positive feedback.
In 2019, they expanded into a 4000 square foot warehouse.
They started selling their new VyroSafe paper straws in bulk to cruise ships, restaurants, and hotels, and have sold over 4 million so far.
ORCA coolers signed a licensing arrangement with Subsafe in 2019 to provide Subsafe with NFL and college sports club logos.
WineSafe, a watertight plastic container and koozie for wine or champagne bottles that includes a rubber stopper, was also unveiled.
Mark and Charles’ deal was concluded in 2021.
As expected, SubSafe is now available at Wawa, Publix, Bed Bath & Beyond, and, of course, Amazon. The company’s annual revenue is one million dollars.
What is the Net Worth of Subsafe?
Subsafe was worth $4 million as of February 2021.
Who are the Subsafe’s Competitors?
There is no competition for this product.
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Who founded SubSafe?
Desiree and Adam Haller established Subsafe.
Where did the idea of SubSafe come from?
After Adam and Desiree returned from a fishing trip with wet sandwiches, they came up with the concept for a sandwich container having a cover, two sides, and a bottom.
What is SubSafe?
SubSafe is a watertight container that can hold phones, sandwiches, wallets, and keys.
How much is SubSafe worth now?
Currently worth more than $4 million.
Did SubSafe get a deal on Shark Tank?
Deal on Shark Tank: SubSafe accepts $100,000 in exchange for a 25% stake from Charles Barkley and Mark Cuban.
Who owns sub safe?
Adam Haller and Desiree Haller of Port Orange, Florida invented SubSafe.
Where are SubSafe made?
The product was created in Port Orange, Florida.
Is SubSafe waterproof?
Yes! SubSafe is completely waterproof. They’ve got they covered if the ice in the cooler melts.
Is SubSafe BPA FREE?
Yes! It’s constructed of Polypropylene plastic, which is also used to produce baby bottles.
Will my sandwich get soggy?
In this office, they like to follow the rule of thumb of common sense.
Whatever they do, if they stuff their sandwich with veggies and sauces, it will go soggy.
As a result, they recommend obtaining veggies and sauces on the side.
Will my sandwich get crushed while in the container?
No! SubSafe is constructed of a high-quality plastic that will not buckle under pressure. Throw that case of beer in the cooler as well.
Does SubSafe float?
Yes! In the unfortunate event that their SubSafe falls overboard, it will float until they can bring it back to safety inside the boat.
When will they use their SubSafe?
Boating, tailgating, going to the beach, camping, hunting, picnics, NASCAR races, concerts, and other activities.
Can they use their SubSafe as dry storage?
Yes! After they’ve completed their sub, fill it with whatever they don’t want to get wet. Phones, keys, game or racing tickets, and so on.
Does one SubSafe accommodate both a 6″ and 12″ sub?
Yes! SubSafe was designed to function with both sandwich sizes. This also permits them to eat half now and the other half later.