What Happened to Tailgate-N-Go After the Shark Tank Pitch?
What is Tailgate-N-Go?
Tailgate-N-Go is a portable gas grill kitchen and dry box that may be used for outdoor cooking off the back of your car.
As the name says, it is ideal for barbecuing in the parking lot before to a big game, as well as camping trips, the backyard, or picnic spots.
It includes compartments for food, beverages, and culinary accessories.
Who is the Founder of Tailgate-N-Go?
Tailgate-N-Go was founded by Taylor Johnson, Ron Johnson, and Kobe Johnson.
TNG was conceived as a response to a question Ron gave to his daughter Taylor as she prepared for a family BBQ at a nearby lake.
Taylor was unorganized, with six or seven distinct bags containing her tailgate essentials. “How did you get your chuck box?” he queried.
When campers are on the road, they keep ALL of their cooking equipment in a chuck box.
It is derived from the “chuck wagons” of the ancient west, which functioned as the trail’s “kitchen” during cattle drives.
Taylor founded TNG with her father and brother, Kobe, in answer to that question.
After six prototypes, the family developed the chuck box to end all chuck boxes.
Each TNG model has cutting boards, condiment containers, a knife magnet, storage nets and racks, and other amenities.
The company was formed by Ron Johnson with the assistance of his daughter Taylor and son Kobe.
Ron is an artisan by trade and is the owner of Riverbend Machinery and Riverbend Equipment in Grand Junction and Denver, Colorado, in addition to sitting on the board.
These two companies rent, sell, and service large pieces of heavy equipment. Taylor is now in charge of day-to-day operations with the assistance of her father.
She is a graduate of Colorado Mesa University with an entrepreneurial experience, having created her own small media company, Taylor Made Media.
What Happened to Tailgate-N-Go at the Shark Tank Pitch?
Ron, Taylor, and Kobe appeared on Shark Tank Season 11 Episode 5 seeking $250,000 in exchange for a 10% ownership in their business. This translates to a valuation of $2.5 million.
They introduced themselves and described their wares. The first is a full-size kit priced at $1,500; the second is a “medium” “Overlander” model priced at $1,400; and the third is a smaller kit priced at $1,000.
They cost $748, $728, and $500, respectively, in Colorado. Each one weighs between 55 and 75 pounds and costs between $120 and $150 to ship.
They’ve sold 100 boxes thus far, but their sales have doubled in the preceding six months. The Tailgate N Go product packages comprise two utility patents covering the notion of replaceable parts.
While the Sharks like the product, they are disappointed by the product’s low sales volume – less than 100 units in a year and a half.
The Johnsons are seeking assistance from a Shark in order to increase their inventory in order to fulfil requests. Additionally, they seek assistance with production in order to cut costs.
Mark commends entrepreneurs for finding an issue, developing a solution, and then commercializing that solution.
Unfortunately, he does not “glamp,” and hence the bargain is not for him. Lori, too, claims to be unfamiliar with tailgating and wishes to learn more about the company before investing, and she, too, is out.
Matt likewise expresses his belief that the market is insufficiently large and withdraws from the deal.
Daymond believes they will spend a significant amount of money seeking to demonstrate it on the market. That concluded Daymond’s story.
Kevin makes a suggestion. He offers a $250,000 loan at a 10% interest rate in exchange for 10% equity and a perpetual royalty of $100 per unit.
The Johnsons politely decline the offer and then turn to Matt, pleading with him to reconsider.
He is fearful of not receiving his money, but after considerable back and forth, he makes an offer.
He offers $250,000 in exchange for 20% plus a royalty of $50 per unit until the loan is repaid. The Johnsons concur.
What Happened to Tailgate-N-Go After the Shark Tank Pitch?
The contract with Matt has expired, but the business continues to sell goods.
They said that they earned $400,000 in the three months following their agreement with Matt Higgins.
Matt also supported them in acquiring an NFL license, which allowed them to mark their product with club logos, and in securing a position at the NFL Experience 2020 convention, which serves as a showcase for NFL partners and their work.
They appear in an update part of episode 1120.
The episode was filmed in Miami over the course of Super Bowl LIV. They negotiated a license agreement with the NFL throughout the course of the program.
As of July 2021, they are still in business. Annual sales are estimated to range between $900,000 and $1 million following a difficult year due to Covid-19.
What is the Net Worth of Tailgate-N-Go?
They were looking for $250,000 in exchange for a 10% ownership in their firm when they approached the sharks. This translates to a valuation of $2.5 million.
They accepted Matt’s offer of $250,000 for a 20% interest plus a $50 royalty till he recovers.
Who are the Competitors of Tailgate-N-Go?
Tailgate-N-Go does not have a competition.
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Tailgate-N-Go FAQS
What is Tailgate-N-Go?
Tailgate-N-Go is a one-of-a-kind portable outdoor cooking device.
Who founded Tailgate-N-Go?
The company was formed by Ron Johnson with the assistance of his daughter Taylor and son Kobe.
How much were they asking in the Shark Tank?
They were looking for a $250,000 investment in exchange for 10% equity.
Did they get the deal from the Sharks?
They obtained the agreement from Matt Higgins.
How much was the deal?
They received $250,000 for a 20% stake and a royalty of $50 per unit until the debt was repaid.
Is Tailgate-N-Go still in business?
They are still in business and generate between $900,000 and $1 million in revenue as of July 2021.
What happened to tailgate and go?
The company is still operational, with headquarters in Grand Junction, Colorado, and interested consumers can purchase their products directly from the company’s website for distribution throughout the United States.
Who invested in tailgate go?
Matt Higgins, the founder of a private investment organization and the Miami Dolphins’ vice chairman, is a partner in the Johnsons’ enterprise.
What are strengths of Tailgate-N-Go?
They are a one-of-a-kind product with a one-of-a-kind concept.
What are the weaknesses of Tailgate-N-Go?
The product and concept are not widely used.
How much does Tailgate-N-Go costs?
Three versions were available: the Full-Sized for $1,500, the “Overlander” for $1,400, and the “River Box” for $1,000.
How much does Tailgate-N-Go costs to make?
They cost $748 to construct Full-Sized, $728 to construct Overlander, and $500 to construct River Box.
What type of business is Tailgate-N-Go in?
Systems for portable kitchens.
Is Tailgate-N-Go in patent?
Two utility patents on the interchangeable elements concept are included with the Tailgate N Go product kits.
Where can they buy Tailgate-N-Go?
Customers may purchase their items straight from the company’s website for shipment throughout the United States.
