Rolf Schwartz and George Podd, co-founders of Light Film, first pitched the Sharks in season 1, episode 115.
The company partners were looking for funding for their motion and light-sensitive peel-and-stick window stickers.
Their strategy was to license the product to sports leagues, allowing fans to uniquely express their support for their favorite team.
When Light Film was initially displayed in the Shark Tank, it was still developmental: it lacked a power cord! Subsequent versions of Light Film included wireless capabilities.
What is Light Film (Power Decal)?
Light film or Powerdecal is an innovative LED-backlit vehicle window decal. The device automatically goes on while driving at night and shuts off after two minutes while parked; once fitted, there is no need to touch it.
Powerdecal maintains a clean exterior while increasing visual impact at night with full color and contrast.
Powerdecal illumination performs admirably in dark factory tinted windows. The highly adhering 3M material simplifies installation; no equipment is needed, peel and stick.
|Company Name||Power Decal|
|Founder||George Podd And Rolf Schwartz|
|Product||LED Backlit Logos For Vehicle Window|
|Investment Seeking||$100,000 For 5% equity in Light Films|
|Final Deal||$100,000 For 70% equity in Light Films|
|Shark||Daymond John And Robert Herjavec|
|Episode||Season 2 Episode 5|
Who is the Founder of Power Decal?
Light Film or Powerdecal was a brainchild of two buddies, Rolf Schwartz and George Podd. It is a solar-powered peel-off sticker that is light- and motion-sensitive and can be applied to a car window.
George was an industrial designer, and Rolf was a finance expert, ideal for this venture.
The duo intended Light Film to be a means for young soccer and football enthusiasts to show their love and support for their favorite teams.
However, Rolf and George would have to wait before licensing and distributing their product, as it was still in development.
Light Film or Powerdecal Before Shark Tank
Light Film was invented by George Podd and Rolf Schwartz. The two have developed light-sensitive and motion-sensitive stickers that can be attached to vehicle windows.
The solar-powered peel-off sticker illuminates. The duo recognized that they had created an interesting product and began researching potential markets for their offering.
Rolf and George reasoned that licensing Light Film to fans of the National Football League or the National Basketball Association would be a brilliant idea. This way, fans can utilize the Light Film to demonstrate their allegiance to a certain club.
Regrettably, Rolf and George could not accomplish this independently, as Light Film was still in its infancy.
The team decided to join the shark tank to secure extra funding, vital business skills, and contacts that might help them license their idea.
Shark Tank Pitch Of Light Film or Powerdecal
The two partners entered Shark Tank and pitched their business, Light Film LLC, to the sharks, hoping for a financial boost and business knowledge.
Mr. Wonderful begins the interview by inquiring whether Rolf and George own a patent for the product, to which they respond affirmatively.
Robert is curious about the product and inquires George whether the Light Film is a safety device.
George states that the decal can demonstrate support for a specific sports team and that college-aged students appear to be a sizable target market for the Light Film.
Barbara is curious whether individuals may get custom-made decals from Rolf and George, to which the duo responds that they can.
Robert then realizes that George and Rolf have come to the shark tank today searching for further financial assistance to license and distribute their product.
George explains that if they close a transaction, the $100,000 will be utilized to target specific industries that will allow them to enter a worldwide retailer’s market.
Barbara is curious as to how the duo came up with the concept for Light Film. George recounts that the concept for Light Film came to him one day while dropping off his son at the hockey rink.
The automobile in front of him was emblazoned with the team’s logo on the windscreen.
A child in the back seat of that car was watching a portable gadget, which inspired George to consider combining the logo and the animation seen on such devices into something simple.
He believed that this concept would elevate stickers and branding to a whole new level.
Kevin O’Leary is curious about how George found this product when he came up with that brilliant concept.
George notes that he has a background in industrial design and has always been creative.
Rolf continues by explaining that his experience is in finance. When long-time buddy George told him about his idea, Rolf immediately saw the product and chose to join the team to assist with the development of Light Film.
Robert is curious about the company’s sales to date. When the duo responds that they are awaiting further revenue to develop the product and have not sold anything to date, the sharks become disappointed.
Robert is curious why George has not committed his own money in this venture despite his strong belief in the idea. George responds that he has invested all of his funds in it.
The sharks are curious about the amount of money invested, and Rolf responds to their disbelief by stating that he has personally invested $750,000 in Light Film to date.
After the sharks have recovered from their shock, Barbara is eager to learn how much it costs to create a single logo and how much that logo may be sold for.
George notes that while the prototype decal they took to the shark tank cost about $10 to create, the next iteration of the product, which will be solar-powered, may be manufactured for as little as $5 or less. This would imply a wholesale price of $10 and a retail price of $19.99.
Kevin O’Leary appears to appreciate the product but is perplexed why the duo has requested only a $100,000 investment, which he believes is insufficient to continue developing Light Film.
George argues that $100,000 would be sufficient to target such specialized markets, at which point the product would begin to generate money on its own.
Kevin Harrington, who has been silent until now, says that he is a huge fan of Rolf and George’s concept.
However, he is concerned that $100,000 will not be sufficient to cover the costs of any licensing negotiations. As a result, he decides to resign.
Kevin O’Leary is intrigued by this concept but recognizes that he is only part of the solution. He continues by stating that cash is insufficient in this case.
Distribution is critical for Light Film to succeed in any market. As a result, Mr. Wonderful also declares himself ineligible.
Robert expresses his enthusiasm for the product but concurs with Kevin Harrington and Kevin O’Leary. He believes that money will not get to market without the appropriate partner and thus declares himself out.
Barbara is the next to speak, arguing that she is the wrong partner and the wrong consumer.
She continues by admitting that she would murder her husband if he put a Light Film decal on their automobile. She concludes by announcing her exclusion.
Following such a good start, only one shark remains. Is Daymond the proper partner to assist George and Rolf in advancing Light Film?
Daymond acknowledges that he could assist Rolf and George by providing them with licenses for this product.
Additionally, Daymond explains that if he strikes a contract with George and Rolf, they would not have to worry about a thing because he would produce, transport, and distribute the product.
Daymond then drops a bombshell by announcing his intention to acquire a hefty 75% stake in the company.
George’s look conveys the dread. Daymond summarizes by saying that he would provide the duo with an initial $100,000 and unrestricted financing on any purchases and licenses of his brands.
However, all of this comes at the cost of a 75% stock stake. George immediately inquires about the possibility of making a counter bid, which Daymond agrees to. The other sharks concur that the offer is intriguing and worth considering.
George acknowledges that he would love to join with Daymond, but both he and Rolf are concerned with recouping their initial investment and maintaining a comfortable standard of living.
George counters with a demand for $750,000 in exchange for a 51 percent equity stake. The sharks take pleasure in the bizarre turn of events as Daymond contemplates his options.
Robert recognizes a chance and invites the couple outside for a bit to let the sharks discuss the proposals on the table. Kevin O’Leary asserts that Daymond is a ‘vampire’ sucking the vitality from George.
Robert believes the duo has no other choice and begs Daymond to consider bringing him into the arrangement.
Daymond makes a revised offer — he and Robert will collaborate and contribute $100,000 to George and Rolf in exchange for a 70% equity stake.
George and Rolf would earn 75 cents on every dollar sold until their $750,000 were recouped. On the Shark Tank, Rolf and George requested $100,000 in exchange for a 5% stake in their company.
The Sharks recognized the product’s enormous potential but were skeptical that $100,000 would be sufficient to fund the full project.
After lengthy discussions, the two secured $100,000 and unlimited financing from one of the Sharks in exchange for a 70% stake in the business.
Daymond John reportedly offered to facilitate the company’s licensing agreements if they accepted the offer.
Although it was not their original intention, the partners accepted the offer, regarded as one of Shark Tank’s most notable success stories.
George pauses before requesting additional funds. Rolf assures the sharks that they wish to execute everything previously stated in exchange for a $200,000 investment.
Daymond has remained mum and does not appear to be interested in moving through with his final offer. George and Rolf enthusiastically and relievedly embrace the deal.
George and Rolf exit the shark tank with mixed emotions. They had not anticipated selling 70% of their firm, but they feel as though they had exited the shark tank after partnering with the proper sharks to propel Light Film forward.
What Happened To Light Fim or Powerdecal After Shark Tank?
Light Film LLC had yet to distribute a single product to their clients before their appearance on Shark Tank.
However, collaborating with the Sharks elevated the Light Film LLC company, renamed ‘Powerdecal,’ to new heights.
They acquired licensing agreements with several prominent sports federations and over two hundred prestigious colleges.
They’ve created light decals with various themes, including pet, fire and EMS, and military.
Even better, the product earned widespread acceptance from most professional sports leagues, resulting in the mass manufacture of personalized decals representing the NFL, NHL, NBA, and MLB.
The Powerdecal is a standard sticker during the day but comes to life at night, displaying its eye-catching LED lights. It is available at Best Buy locations around the United States and in various gift retailers worldwide.
Powerdecal LLC is well-known for manufacturing and selling various promotional materials that utilize the same patented technology.
At the moment, Powerdecal LLC Holdings consists of three executives, two investors, and two employees, with a $400000.
Its operations combine various technologies, including Twitter for websites, Facebook SDK, Google Analytics, and Cloudflare CDN. The company is headquartered in Chicago, Illinois, USA.
Its clients ecstatically praise power decal as an excellent complement to their vehicles.
Additionally, it is an excellent way to demonstrate affection and support for nearly everything, including sports teams, pets, and vocations.
However, client reviews indicate that some clients were dissatisfied with the product. They assert that they have had various issues with timely delivery and responsiveness to their inquiries.
The lads appear to have made the proper option is teaming up with Daymond John. After the show aired, Robert joined him in the deal.
The company was renamed “PowerDecal” and has become one of Shark Tank’s most successful tales.
Daymond honored his word and assisted in securing licensing agreements with all major sports leagues and several prestigious institutions.
Additionally, they provide LED decals with military, pet, fire & EMS, and breast cancer themes, among others.
Light Film changed its name to Powerdecal as part of Daymond’s marketing plan, and they are now available in Best Buy shops nationwide.
The newly renamed corporation anticipates sales of $5-$6 million in its first few quarters of operation. Light Film is featured in a follow-up section in season 3, episode 303, as another Shark Tank success story!
As of August 2021, the company is still in operation and has an average annual revenue of over $1 million.