The Flip-It Cap is a product featured on Season 10 of Shark Tank designed to combat the common frustration of not fully extracting contents from bottles, particularly those containing viscous fluids like lotions, ketchup, shampoos, or honey.
This ingenious invention came from Steven Epstein, a vice president at a packaging manufacturing company in Oklahoma, who devised this solution after his own experiences with unfinished bottles.
The Flip-It Cap is a three-legged cap stand that enables bottles to be inverted, allowing the contents to gravitate toward the bottleneck for easy dispensation. The design allows up to 20% more products to be used, ensuring minimal waste.
Flip-It Caps are made of food-grade, BPA-free plastic and are universally designed to fit a wide range of bottles. They come with a set of adapters of various dimensions for versatile use.
The Flip-It Cap stands out for its ease of use. It can be easily attached to the bottle by removing the original cap or pump and fitting the base cap on top. If the base cap doesn’t fit, an adapter can be used.
Once attached, the bottle can be turned upside down, letting gravity move the contents toward the bottleneck. The base cap features a valve tip that can be opened when you want to use the product and closed when not in use.
This unique feature ensures a continuous stream of the remaining content without the frustration of shaking or beating the bottle. The Flip-It Cap is a beneficial product for several reasons.
For one, it promotes economic usage by reducing product waste. It’s estimated that 15% of kitchen condiments and up to 25% of beauty products are wasted because they stick to the bottom of the bottle.
Flip-It Cap helps to mitigate this waste, saving money in the long run. Additionally, it’s washable, reusable, and lasts for years, making it a sustainable choice. It’s also a way to contribute to environmental conservation, as empty bottles are easier to recycle than those with residual products.
Despite not securing an investment in Shark Tank, the Flip-It Cap achieved substantial success. After the appearance, the product saw an increase in sales, reaching $55,000 per month, and won the ICMAD Award for “Member’s Choice Best New Product of 2016”.
Flip-It Cap’s practicality, ease of use, and environmental benefits make it an excellent choice for consumers wanting to maximize the usage of their bottled products.
|Product / Business
|Emptying machines for bottles
|Investment Asking For
|$500,000 for 10% equity in Flip-It Cap
|Flip-It Cap Episode
|Season 10, Episode 19
|Flip-It Cap Business Status
|Flip-It Cap Website
What Is Flip-It Cap?
The Flip-It Cap is an ingenious and practical invention designed to solve the common problem of struggling to extract the last bit of product from bottles, such as shampoo, lotion, condiments, and various household cleaners.
The Flip-It Cap system allows users to easily and effectively get every last drop from their bottles by suspending them upside-down, ensuring minimal wastage and maximizing product use.
The Flip-It Cap replaces the original cap or pump of the product container, offering a stable and accessible method to store and dispense the product. The Flip-It Cap comprises a unique tripod stand fitted with a push-pull valve, making it adaptable for various bottle types and sizes.
The Flip-It Cap provides balance and sturdiness when inverting the bottle, enabling users to flip the container back to its original position without making a mess. Furthermore, the valve serves a dual purpose, effectively sealing the bottle when in the inverted position and allowing easy dispensing when needed.
The Flip-It Cap offers convenience and efficiency in everyday life and contributes to sustainability by reducing product waste and encouraging the reuse of containers.
Who Is The Founder Of Flip-It Cap?
The Flip-It Cap was the brainchild of Steven Epstein, a native of Tenafly, New Jersey, serving as a vice president in a packaging manufacturing company based in Oklahoma.
His background in the manufacturing industry provided a solid foundation for his innovative venture, offering an understanding of production processes and practicalities.
Steven’s idea for the Flip-It Cap sprang from a personal experience, a moment of everyday frustration shared by many. Like countless others, he struggled to extract a bottle’s last lotion. However, Epstein recognized it as an opportunity to solve a practical problem instead of dismissing it as an annoyance.
Epstein researched and discovered a significant problem consumers faced: nearly 15% of kitchen condiments and up to 25% of beauty products are wasted because they stick to the bottom of the bottle.
With this in mind, he envisioned a device that could stand bottles upside down, ensuring every product drop could be used. The result was a patented, reusable device designed to empty bottles of thick liquids like lotion, shampoo, conditioner, and various food items.
Before its appearance on Shark Tank, Flip-It Cap had already begun making waves in the market. Word of mouth and the product’s practicality increased consumer recognition and acceptance despite a slow start.
In 2016, the product won the ICMAD Award for “Member’s Choice Best New Product of 2016”, marking a significant milestone in its journey.
While Steven’s pitch on Shark Tank didn’t secure him an investment, the appearance brought invaluable exposure, helping to boost the brand’s monthly sales to $55,000.
Steven’s approach to creating the Flip-It Cap is a testament to the power of observation, innovation, and entrepreneurial spirit. His product addresses a common frustration and promotes sustainability by reducing waste, exemplifying a successful solution to a widespread issue.
How Was The Shark Tank Pitch Of Flip-It Cap?
When Steven Epstein appeared on Shark Tank with his innovative product, the Flip-It Cap, he was seeking a significant investment of $500,000 for a 10% equity stake in his company.
This proposition suggested a hefty valuation of $5 million for the Flip-It Cap, which Epstein would have to justify to the Sharks with solid performance figures.
Epstein gave the Sharks an overview of the company’s sales figures over four years. He reported $2.5 million in lifetime sales, with the first year yielding just under $200,000.
The second and third years saw an impressive improvement, generating $650,000 and $740,000 in gross revenue sales, respectively. Further, Epstein mentioned that the Flip-It Cap had already been featured on QVC on 65 occasions, adding credibility to the product’s appeal.
The manufacturing cost for each Flip-It Cap unit was just under $1, and units were retailed for $6 on the official website, promising a good margin. However, Epstein acknowledged that margins were a challenge for the company, which appeared to concern the Sharks.
As the Sharks digested the information, it became apparent they had reservations. Kevin O’Leary was the first to opt-out, voicing concerns about the company’s health.
Other Sharks, including Mark Cuban and guest Shark Rohan Oza, followed suit, citing concerns about stagnant sales numbers and the belief that the product was in decline.
Despite Epstein’s enthusiastic pitch and his product’s proven track record, he could not secure an investment from any of the Sharks. Although the pitch didn’t end with a Shark Tank deal, the product continued to succeed post-show.
It regularly appears on QVC and is available for purchase on Amazon, with estimates suggesting annual revenue nearing $1 million. The Flip-It Cap story is a product that thrived without securing a deal on Shark Tank.
Final Deal: Flip-It Cap could not secure any investment from any Sharks on the Shark Tank show.
What Happened To Flip-It Cap After Shark Tank?
After the Flip-It Cap presentation on Shark Tank, even though founder Steven Epstein didn’t secure a deal with any of the Sharks, the business continued to move forward and experienced growth.
Being featured on Shark Tank is a major publicity boost, leading to increased brand awareness and often significant sales upticks, and Flip-It Cap was no exception.
On multiple occasions, the product continued to feature on QVC, a major home shopping network, further enhancing its visibility and consumer reach.
In addition, Flip-It Cap remained available online, especially on major e-commerce platforms like Amazon, facilitating easy access for customers nationwide and potentially globally.
According to estimates, Flip-It Cap continued to generate a substantial revenue nearing $1 million annually. This signifies that the product managed to carve a niche in the market and attracted a substantial customer base.
It’s likely that word-of-mouth referrals also contributed to its continued popularity and sales, given the practical problem it solves. It’s important to note that the story of Flip-It Cap serves as a reminder that not securing a deal on Shark Tank doesn’t necessarily spell the end for a business.
With a compelling product that fills a market need and a solid strategy for moving forward, companies can still thrive and grow even after leaving the Tank without a deal.
Flip-It Cap Shark Tank Update
After its appearance on Shark Tank, Flip-It Cap, a three-legged cap-stand designed to extract every last drop of viscous fluids from bottles, experienced both successes and challenges.
Although the product did not secure a deal on the show, it gained significant traction and recognition, boosting sales. Flip-It Cap’s appearance on Shark Tank helped increase its popularity and visibility, improving sales and market presence.
Despite not obtaining investment from the sharks, Flip-It Cap continued its operations and pursued alternative avenues for growth. The product gained popularity through online platforms such as Amazon and started partnering with large retail store chains.
There were also potential plans for expansion into physical retail spaces. Flip-It Cap’s availability on various platforms ensured that consumers interested in the product could easily access it.
The Flip-It bottle-emptying kits, which provide a solution for extracting the last drops of product from bottles, are designed with a dispensing stand featuring a unique tripod shape and adapters to accommodate different bottle sizes.
The hard-to-reach product can be easily squeezed out through the valve tip by flipping the bottle upside down and utilizing gravity. The kit is affordable, effective and addresses the issue of wasted products and the environmental impact of improper recycling.
Despite the initial appearance on Shark Tank not resulting in a deal, Flip-It Cap has continued its operations. The product has been featured on QVC and remains available on platforms like Amazon.
The Flip-It Cap company has demonstrated resilience and maintained its presence in the market despite having annual revenue of just under $1 million. However, as featured on Shark Tank, the Flip-It Cap product is designed to extract every last drop of viscous fluids from bottles.
Flip-It Cap gained recognition and increased sales after appearing on Shark Tank; however, it did not secure a deal. The product continued to be available online and expanded its partnerships with large retail chains.
Despite the challenges faced, Flip-It Cap persevered and established its presence in the market, providing consumers with an affordable and effective solution to maximize product usage while reducing waste.
Is Flip-It Cap Still In Business?
According to our research, Flip-It Cap is still in business. Despite not securing a deal on the show Shark Tank, Flip-It Cap has continued its operations and pursued various avenues for growth and expansion.
The product has gained recognition, partnerships with retail stores, and a growing presence in the online market. The monthly sales of Flip-It Cap reached $55,000 after appearances on Shark Tank and QVC, demonstrating the product’s ongoing success.
Flip-It Cap has been marketed as a solution to extract every drop from bottles, promoting sustainability and reducing waste. The company has explored new markets, including potential applications for recycling challenges and TSA checkpoints.
In conclusion, Flip-It Cap is still in business, with ongoing operations, partnerships, and a focus on promoting sustainability while reducing waste through its innovative bottle cap design.
What Is the Net Worth Of Flip-It Cap?
According to our research, the net worth of Flip-It Cap is estimated to be $1 million as of 2023. The valuation of Flip-It Cap was $5 million when it appeared on Shark Tank in 2019.
Also, read other notable businesses from Season 10 of Shark Tank: