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SauceMoto: Revolutionizing In-Car Dining with an Innovative Sauce Holder
SauceMoto, an innovative product featured in season 10 of Shark Tank, revolutionizes the fast-food eating experience, especially for car diners.
SauceMoto is a handy car accessory designed to make dipping sauces easier and safer while driving. It helps secure sauce containers in place, preventing spills and mess.
With its practical design, SauceMoto ensures that you can enjoy your favorite dips on the go without any hassle.
This practical product is perfect for anyone who loves to dip their snacks while driving without compromising safety. Say goodbye to messy car rides with SauceMoto!
The dip clip is designed to be attached to a car’s air vents, offering a universal mount that fits various air vent sizes for compatibility with a wide range of vehicles.
SauceMoto is a game-changer for individuals who frequently dine in their vehicles, particularly those who relish fast food. It eliminates the hassle of balancing a sauce packet on your lap or trying to dip fries or nuggets while driving.
By keeping the sauce at an easy-to-dip height, SauceMoto enhances convenience, promotes safer driving habits, and minimizes distractions.
The simplicity and effectiveness of SauceMoto highlight how even the most straightforward inventions can significantly impact our daily lives.
Designed by William Moujaes, Tony Lahood, and Michael Koury, this trio from Cleveland, Ohio, created SauceMoto out of frustration with handling dipping sauces while eating in the car.
William Moujaes, with a background in product development, design, and marketing, led the team in bringing SauceMoto to life.
Tony Lahood, an engineer, and Michael Koury, with a business background, complemented the team with their skills, turning a simple idea into a practical product.
SauceMoto was inspired by the challenges of eating fast food in the car, which led the founders to design an in-car sauce holder that is less messy and easier to use.
Before their appearance on Shark Tank, SauceMoto had already achieved success through a Kickstarter campaign that exceeded its fundraising goal.
The positive response from backers on Kickstarter validated their idea and boosted their confidence to scale up production.
However, their appearance on Shark Tank propelled SauceMoto onto the national stage, providing a larger audience and the opportunity for significant investment, taking the product to new heights.
Saucemoto On Shark Tank
Three entrepreneurs, Tony Lahood, William Moujaes, and Michael Koury, appeared on Shark Tank seeking a $45,000 investment in exchange for 15% equity in their company, Saucemoto.
Saucemoto specializes in creating in-car dip holders for sauces. Saucemoto’s innovative product allows users to securely hold various fast food sauce containers by simply attaching a clip to their car’s air conditioning vent.
This simple yet practical design resonates with many individuals who enjoy fast food on the go.
During the pitch, the entrepreneurs revealed that Saucemoto had already sold over 12,000 units, generating approximately $75,000 in gross revenue.
The majority of these sales were made through the company’s official website. The product is priced at $5.75 per unit, with manufacturing costs slightly exceeding $0.80 per unit.
The negotiation process showcased the sharks’ varying levels of interest, with Mark Cuban and Barbara Corcoran opting out early on.
Robert Herjavec made an offer of $45,000 for 40% equity, driven more by his belief in the entrepreneurs than the product itself.
Kevin O’Leary expressed interest in the product and made an initial offer of $45,000 for a 50% equity stake, sparking a bidding war among the sharks.
As a result, Kevin agreed to invest $45,000 in exchange for 25% equity, making him an equal partner.
The entrepreneurs eventually reached a favorable agreement with Kevin that solidified their partnership and set Saucemoto up for future success.
Final Deal: SauceMoto secured an investment of $45,000 in exchange for a 25% stake from Kevin O’Leary.
Unveiling the Success Story of Saucemoto: A Journey Beyond the “Shark Tank” Effect
After the “Shark Tank” episode aired, the brand saw a significant surge in sales due to the show’s impact, leading to a quick sell-out of their product.
Tony Lahood, appearing on the Everything Money podcast in 2023, shared insights into the company’s early days, mentioning that all profits were reinvested into expanding their inventory.
The product’s popularity increased as sales momentum grew, peaking during the Christmas season when it ranked third in Amazon’s kitchen and dining category, behind popular items such as Yeti and Stanley Cup tumblers.
Despite not finalizing a deal with Kevin O’Leary, Lahood mentioned that they didn’t see eye to eye on certain terms. He also revealed that an offer from Shark Lori Greiner was edited out, while earlier offers from O’Leary were considered unreasonable.
Lahood emphasized that their primary goal wasn’t just about the money but also about establishing connections and gaining visibility for their product, a goal they successfully achieved.
Although the anticipated deal with O’Leary didn’t materialize, the team successfully secured placements for Saucemoto in retail stores such as AutoZone, Advance Auto Parts, and Joann.
However, online sales remained the primary focus, driven by word-of-mouth and social media promotions. A viral video demonstrating the product’s use in extreme scenarios, such as off-roading and combat fighter jets, further contributed to its popularity online.
Despite the absence of O’Leary’s network, Saucemoto continued to thrive independently, maintaining availability on its website and Amazon store.
With over 22,700 ratings and an impressive 4.6-star rating, the product expanded its color range, now offering black, gray, red, pink, and a limited-edition metallic rose gold variant.
In addition to their signature product, the company introduced new items unrelated to driving. They launched BPA-free ice trays that produce mini ice cubes in fun shapes, catering to various preferences.
A unique addition to the collection is the sauce-coterie board, made from acacia wood with multiple sections for serving cups, which is ideal for creatively presenting meat, cheese, dips, condiments, fruits, and desserts.
A future focus of the brand would be to develop exciting new products, promising further innovations in the near future.
Saucemoto maintains an active presence on numerous social media platforms, but their active updates are primarily focused on Instagram, where followers can follow the latest Saucemoto updates and announcements.
Saucemoto is still in business and thriving, with an estimated net worth of $500,000.
