Sandy is a jewelry designer, and she has always had a good sense of how things should be made.
She came up with the idea of Mr. Poncho after seeing a common problem and seeing a need for a solution to it.
The first time Roman heard about Sandy’s design idea, he agreed with it immediately.
The idea was to make a sleeve cover with a rubber cup attached. A user finishes by tying the headphone cord around the middle of the cup and tucking the edges back to secure it.
Sandy made these on her own, and with Roman’s help, shipped them all over the world from their apartment.
The Mr. Poncho cell phone case, which Sandy Hyun and Roman Pietrs call Mr. Poncho, appears in episode 111. They took the craft to a craft show as soon as they thought of it.
Mr. Poncho’s cases they make themselves have made them some money, but now they want to take their product to the next level and make more to sell more.
A little over two years later, they made $45,000.00. At that point, they realized they could grow their business more, but they needed money to expand. This led them to start looking for someone interested in investing in the company.
Is it possible for Hyun and Pietrs to swim with sharks?
What Is Mr. Poncho?
Mr. Poncho is a case for MP3 players that keeps your headphones from getting tangled up.
While AirPods and wireless headsets weren’t available, people listened to music on their phones and the now-defunct iPods using headphones. Even though it seems like a long time ago, it was only a decade ago.
Earphones were prone to get tangled in your pockets and handbags when you were young. Most people over the age of 16 remember this.
Unfortunately, this meant that the cable had to be untangled for at least two minutes before being used.
Mr. Poncho devises the idea of a protective sleeve and a holder for the earbuds and listening device cords.
|Company Name||Mr. Poncho|
|Entrepreneur||Roman Pietrs and Sandy Hyun|
|Product||Protective cover that prevents tangles with headphones when worn with MP3 players|
|Investment Asking For||$50,000 For 25% equity in Mr. Poncho|
|Final Deal||No Deal|
|Episode||Season 1 Episode 10|
|Business Status||Out Of Business|
Who Is The Founder Of Mr. Poncho?
Sandy Hyun and Roman Pietrs, from New York, are the founders of Mr. Poncho. Sandy used to design jewelry when she was younger and still does.
Roman works part-time as a musician and graphic designer and holds a full-time job. Sandy doesn’t appear to be stopping making and selling jewelry through her website anytime soon.
Roman used to be a Creative Director for Global Popstar Design, but his Facebook page says this is a job he did in the past.
The details of what he’s been up to are unclear at the moment. It’s also unclear whether the two are still together.
Mr. Poncho Before Shark Tank
Sandy Hyun and Roman Pietrs have an enterprise named Mr. Poncho based in New York.
Sandy Hyun says she was a jewelry designer for over five years and created Mr. Poncho to answer a demand for an everyday solution.
Roman Pietrs is a graphic designer and a music performer, and when Sandy Hyun suggested Mr. Poncho, he “flipped out” because it was an idea he had never heard before. Roman Pietrs describes Sandy Hyun’s first and finest decision as dating him.
Sandy Hyun and Roman Pietrs acknowledge that working on Mr. Poncho in their apartment has been a wonderful experience; nonetheless, they would prefer to keep their workspace separate from their home.
Sandy Hyun says they are making a lot of money from Mr. Poncho, and she hopes that the Sharks will recognize its potential as well.
Sandy Hyun and Roman Pietrs genuinely need Sharks’ funding to build their businesses and have a physical location apart from their flats.
Additionally, this would enable us to produce more Mr. Ponchos in a shorter time.
How Was The Shark Tank Pitch Of Mr. Poncho?
The couple enters the Shark Tank requesting an investment of $50,000 in exchange for a 25% equity in Mr. Poncho. They use a musical introduction to attempt to calm the vicious Sharks.
The Sharks are amused and perplexed when they hear the product’s name.
Robert Herjavec expresses his admiration for Pietrs’ singing ability. The duo immediately gets to work presenting their product.
The rubber cup adds a touch of simplicity to the sleeve cover. The string should be wrapped around the center of the cup and the edges folded back to avoid unraveling. It prevents the headphones from getting tangled because of their protective design.
Hyun provides samples for the Sharks to analyze, and the Sharks request a closer look.
Kevin O’Leary is taken aback. He wants to know if the entrepreneurs own a patent on their invention.
The Pieters company has a pending patent on the device, but not on the cup – an essential part of the Mr. Poncho case. Sharks remain persistent on the sale.
Even though the Sharks have noticed some success from the couple, selling over 5,000 pieces, they want more specifics.
Kevin Harrington inquires about the manufacturing cost of Mr. Poncho and the sale price.
The pair priced their goods for profit, as they cost $3 to make and $18 to sell.
Daymond John is curious whether they have conducted market research on firms capable of mass production. He wishes to know the wholesale price of Mr. Poncho.
Assuming the cost of supplies, Huyn estimates the manufacturing cost at one dollar, but the couple has not investigated further.
Robert Herjavec says he opposes the product because his children “wouldn’t buy it.”
He declares bankruptcy because he lacks a patent for the cup. Barbara Corcoran is also on leave. Two Sharks decline to enter negotiations. There are only three remaining.
Kevin O’Leary advises the pair not to “leave your day jobs.” He has departed. Daymond John refers to the venture as “premature.”
He then exits, pointing out various things that the product is missing.
Kevin Harrington feels the pair has a “wonderful home company,” but he does not believe he can invest in it.
The final Shark exits the Shark Tank, and the couple exits without a deal.
What Happened To Mr. Poncho After Shark Tank?
Sandy Hyun and Roman Pietrs started their own little business after finding an incredibly simple solution to a common problem.
People who own an MP3 player or a smartphone are familiar with the sensation of tangled headphone cables.
When you use Mr. Poncho, which serves as a protective case and a cardholder, you can ensure that your device remains clean and your cords remain untangled.
Mr. Poncho does not seem to be financially strapped. Still, Sandy Hyun and Roman Pietrs need investments to expand their businesses and establish physical locations outside their apartments.
Poncho was unfortunately not interested in investing, as the Sharks considered it an immature home business with the implication that it would be a very risky venture. Mr. Poncho is not mentioned as the best or worst Shark Tank contestant.
Mr. Poncho’s information is scarce on the internet, which indicates that the firm did not endure.
I discovered numerous websites claiming to sell Mr. Poncho sleeves, but upon clicking on the links, I was taken to this website: http://www.mrponcho.com/store.html, which no longer exists.
However, if you omit the “store.html” portion of the link, you are redirected to Sandy Hyun’s website.
The Sandy Hyun website (http://sandyhyun.com) sells a variety of jewelry, including Necklaces and Bracelets.
Sandy Hyun, it appears, continued to make jewelry following her appearance on Shark Tank. Visit her website to learn more about her jewelry and its costs.
Mr. Poncho Shark Tank Update
Shark Tank opened the couple’s eyes to the challenges of starting a company and gave them a new perspective on what it takes.
They sold their Mr. Poncho product directly through sites like Esty. Still, their dream of mass production was hampered by the lack of a proprietary patent on the rubber cup that served as the primary component of their Mr. Poncho packaging.
Sandy Poncho sells her jewelry collection at hundreds of retail locations nationwide, including Anthropologie, Nordstrom, Neiman Marcus, and several small, independent jewelers.
Roman holds a Creative Director position at Global Popstar Design, and Sandy earns about $1 million per year from her jewelry.
Is Mr. Poncho Still In Business?
After Mr. Poncho debuted on Shark Tank, its sales on Etsy grew significantly. However, it did not survive owing to a lack of startup funding. The product was more of a novelty than a viable enterprise.
They would have needed to reorient the company, in any case, to stay afloat since cord headphones were bound to succumb to VHS in the coming years.