SauceMoto is an innovative product that appeared on Season 10 of Shark Tank. It was designed to enhance the fast-food eating experience, particularly for those who often eat in their cars. SauceMoto is a dip clip attached to a car’s air vents.
SauceMoto is an in-car sauce holder that offers a convenient and mess-free solution for those who enjoy having sauces with their on-the-go meals. The SauceMoto dip clip features a universal mount designed to fit various sizes of air vents, ensuring compatibility with a wide range of vehicles.
The cup holder is adjustable, too, meaning it can accommodate different sizes of sauce containers from most fast-food chains. Its compact and sturdy design allows for easy storage when not in use, and it can be easily cleaned in a dishwasher.
SauceMoto is an excellent choice for individuals who often eat in their vehicles, especially those who enjoy fast food. It eliminates the need to balance a sauce packet on your lap or dip fries or nuggets while steering.
The SauceMoto keeps sauce at an easy-to-dip height, so you can dip your food without making a mess or causing a distraction. Therefore, it improves convenience and promotes safer driving habits by minimizing distractions.
This simple yet effective solution proves why even the most straightforward inventions can sometimes profoundly impact our everyday lives.
|Founder||Tony Lahood, William Moujaes, and Michael Koury|
|Product||Sauce and dip clips for the car to prevent spills|
|Investment Seeking||$45,000 for 15% equity in SauceMoto|
|Final Deal||$45,000 for 25% equity in SauceMoto|
|SauceMoto Episode||Season 10, Episode 22|
|SauceMoto Business Status||In Business|
|SauceMoto Website||Visit Website|
What Is SauceMoto?
SauceMoto is an ingenious device that enhances the car dining experience and long road trips. It’s an in-car dip clip that doubles as a sauce holder, allowing individuals to indulge in their favorite snacks and fast-food sauces without worrying about mess and spillages.
Shaped and sized to fit virtually any type of car vent, SauceMoto is universal and incredibly easy to use — you simply slide your sauce into the clip, and it stays secure as you snack on the go.
SauceMoto is designed to accommodate the dipping containers from most major fast-food chains, making it an essential accessory for fast-food enthusiasts who enjoy quick meals during long drives. It’s compact, portable, and easy to clean after use.
SauceMoto isn’t just a standard car accessory but a game-changer for lovers of road trips and snacks. This innovative invention is geared towards making meals on the go more convenient and enjoyable while maintaining cleanliness in your vehicle.
Who Is The Founder Of SauceMoto?
SauceMoto was founded by William Moujaes, Tony Lahood, and Michael Koury. The trio is originally from Cleveland, Ohio, and they came up with the idea for SauceMoto out of frustration with handling dipping sauces while eating in the car.
William Moujaes, the team lead, has a background in product development, design, and marketing, which contributed greatly to the creation of SauceMoto.
Tony Lahood, an engineer by profession, and Michael Koury, who has a business background, brought complementary skills to the venture, and together, they turned a simple idea into a practical product.
The inspiration for SauceMoto came from the founders’ experiences with the challenges of enjoying fast food in the car. They realized that there was a substantial market for an in-car sauce holder that could make fast-food consumption less messy and more convenient. This insight led to the creation of SauceMoto.
Before appearing on Shark Tank, SauceMoto had already achieved some success. They launched a Kickstarter campaign to raise funds for their venture, and they surpassed their goal.
The positive response from Kickstarter backers helped validate their idea and gave them the confidence to scale up production. However, their appearance on Shark Tank brought SauceMoto to the national stage, offering a much larger audience and the opportunity to attract significant investment.
Despite their early success, the founders knew that Shark Tank could take SauceMoto to new heights.
How Was The Shark Tank Pitch Of SauceMoto?
The Shark Tank pitch of SauceMoto, represented by founders Tony Lahood, William Moujaes, and Michael Koury, was aimed at obtaining a $45,000 investment for 15% equity in the company, valuing SauceMoto at $300,000.
They presented their innovative product, an in-car dip holder for sauces, designed to address a common issue faced by many people who enjoy fast food in their cars.
The product features a clip that attaches to the air conditioning vent in a car, holding various fast food sauce containers. The Sharks were intrigued by the concept but needed more information on the company’s financials.
The founders shared that they had already sold more than 12,000 product units, totaling approximately $75,000 in gross revenue.
They further explained that most of their sales were online, through the official Saucemoto product website, and that the product sold for around $5.75, with a manufacturing cost of just over $0.80 per unit.
Shark Kevin O’Leary was the first to make an offer, proposing a $45,000 investment but for a hefty 50% equity stake, effectively starting a bidding war among the Sharks.
However, Mark Cuban and Barbara Corcoran bowed out, indicating no interest in investing in this venture.
Robert Herjavec extended an offer of $45,000 for 40% equity, not primarily because he believed in the product but because he saw potential in the entrepreneurial trio.
After negotiation, the founders agreed with Kevin O’Leary, who agreed to invest the requested $45,000 for a 25% equity stake in the company. This deal would make him an equal partner with the three entrepreneurs.
However, it was later revealed that the deal was not finalized post-show. Despite this, SauceMoto continues to operate and is estimated to generate about $400,000 in sales annually.
Final Deal: SauceMoto secured an investment of $45,000 in exchange for a 25% stake from Kevin O’Leary.
What Happened To SauceMoto After Shark Tank?
After their appearance on Shark Tank, SauceMoto continued to experience growth, even though the deal with Kevin O’Leary didn’t close after the show. They used the exposure from the Shark Tank episode to their advantage, boosting their online presence and sales.
SauceMoto is still in operation and can be found online. They continued to sell their in-car dip holders for sauces, focusing primarily on direct sales through their official website.
Their annual sales are estimated to be about $400,000, demonstrating a significant increase from the gross revenue they reported on Shark Tank.
The fact that SauceMoto has continued to sustain and grow its business after the show indicates that there is indeed a market for its product.
The founders’ dedication to their idea and the visibility provided by Shark Tank has helped them maintain a successful business.
Despite the deal with Kevin O’Leary not going through, they leveraged the experience and exposure to further their business goals, which is a testament to their entrepreneurial spirit.
SauceMoto Shark Tank Update
After appearing on Shark Tank during Season 10, Episode 25, SauceMoto, a product designed to hold fast food sauce packets in car air vents, experienced successes and setbacks in its business journey.
The entrepreneurs behind SauceMoto, namely William Moujaes, Michael Koury, and Tony Lahood, initially secured a deal with shark Kevin O’Leary on the show. However, despite the initial agreement, the deal eventually fell through, and Kevin O’Leary did not invest in the company.
Despite the setback of losing the deal, SauceMoto managed to thrive and grow in popularity. The product continued to generate an estimated $400,000 in profits annually.
SauceMoto’s success can be attributed to its innovative solution to the problem of messy dipping sauces in cars. The clip, available in various colors, securely holds sauce packets while providing a convenient and affordable way for customers to enjoy their dipping sauces while dining in their cars.
Following its appearance on Shark Tank, SauceMoto gained significant attention and saw a surge in sales. The founders set ambitious goals, aiming to sell over one million units by the end of the year.
The product received positive customer ratings and over 19,600 reviews on Amazon. SauceMoto can be purchased on its official website and through major retailers like Amazon and Walmart.
With its growing popularity, SauceMoto explored expansion opportunities in restaurant drive-throughs and online platforms like Amazon.
The founders had plans to expand their product’s reach and target the market of individuals who frequently eat in their cars. SauceMoto also provided promotional opportunities for food chains and restaurants, further contributing to its success.
Although SauceMoto did not secure a long-term deal with Kevin O’Leary after its appearance on Shark Tank, the product continued to thrive in the market.
SauceMoto’s innovative solution for holding sauce packets in car air vents, combined with its convenience and affordability, contributed to its popularity and estimated annual profits of $400,000.
SauceMoto remains available on its official website and through major online retailers. The founders have plans for expansion and aim to target the market of individuals who frequently eat in their cars. Despite the initial setback, SauceMoto has become a successful and popular product.
Is SauceMoto Still In Business?
According to our findings, SauceMoto is still in business as of 2023. Despite facing challenges and not finalizing a deal with Kevin O’Leary on Shark Tank, SauceMoto has continued to thrive and maintain its presence in the market.
SauceMoto is an in-car dip clip that securely holds various condiments in a car’s air vent, such as ketchup and other sauce packets. The product offers a hands-free solution for individuals who frequently eat in their cars, allowing them to enjoy their sauces conveniently.
Since its appearance on Shark Tank, SauceMoto has gained popularity and achieved significant success. The product has a universal design that fits various sauce brands and is made of durable plastic, ensuring it withstands different road conditions.
SauceMoto has received positive reviews and customer ratings on Amazon, with an average rating of 4.6 stars. The product can be purchased through its official website, Amazon, and other retail platforms like Walmart, with prices ranging from $5.09 to $10.95.
SauceMoto has implemented effective marketing strategies, including viral videos and partnerships with fast-food chains and car manufacturers, to enhance its visibility and attract customers.
The product’s success can be attributed to its competitive edge, despite alternative solutions in the market. SauceMoto continues to offer a convenient and practical solution for sauce storage in cars, catering to the needs of its target market.
In summary, as of today, SauceMoto is still in business. The product has gained popularity, received positive customer reviews, and remains available through its official website and major online retailers.
Despite the challenges faced on Shark Tank, SauceMoto has continued to thrive and offers a practical solution for individuals who enjoy eating in their cars.
What Is the Net Worth Of SauceMoto?
According to our research, the net worth of SauceMoto is estimated to be $300,000. The valuation of SauceMoto was $180,000 after securing a deal from Kevin O’Leary on Shark Tank.
Also, read other notable businesses from Season 10 of Shark Tank: