Caddyswag is a fantastic way to sneak alcohol onto a golf course or into any other venue. The bag also features a gel pack that can be reused and hold six cans.
You won’t have to wait for the beverage cart girl or pay exorbitant prices for refreshments on the course.
Ben and Melissa Fossey invented Caddyswag. They have designed Par 6, which fits inside your golf bag and keeps six cans of beer cold without ice.
When purchasing beer at the corner store, you’ll save money compared to buying it on the course.
While most golf courses frown on bringing your beverage, some have no service at all.
CaddySwag does not promote that your beverages are available on the course. They sell for $19.95 each, earning a profit of $13.99 for a production of 10,000 units at the cost of $3 each.
Robert estimates that out of 36 million golfers globally, $15,000 in sales is almost nothing.
He wants to know what makes something patentable and what makes something distinctive.
What Is Caddyswag?
CaddySwag is a firm that offers a cooler bag that fits in a golf bag and can keep 4-6 cans of beer cold, depending on their size. The bag can also contain bottled drinks, sandwiches, and snacks.
CaddySwag has a cooler bag that fits in a golf bag and can keep up to 4-6 cans of beer cold, depending on the size. Are you a non-beer drinker?
Moreover, it keeps sandwiches, snacks, and bottled water cool. They also sell branded ice packs and tailgate kits.
They guarantee that the refreshments will remain cool until the 18 hours.
|Entrepreneur||Melissa Fossey and Ben Fossey|
|Product||A golf bag cooler that fits inside|
|Investment Asking For||$60,000 For 20% equity in CaddySwag|
|Final Deal||No Deal|
|Episode||Season 2 Episode 6|
|Business Status||In Business|
Who Is The Founder Of Caddyswag?
Benjamin Fossey and Melissa Fosey are the founder and CEO of Caddyswag. He founded the company in 2006 and continues to lead it.
Having earned a degree specializing in communications and media studies from East Carolina University, Ben joined the media industry in 2011.
Since running the company part-time as a side venture, he has gained experience in every aspect of account management and has primarily dealt with freight and logistics.
According to his LinkedIn profile, he has been running the company full-time since the middle of 2017.
Caddyswag Before Shark Tank
The Fosseys pitch their Caddyswag golf bag cooler in episode 205, making their Shark Tank debut.
While chatting with friends before a golf tournament, the concept came to me in a hot tub one evening.
The golfers asked if they could keep beverages cold without waiting for the drinks cart or paying expensive fees.
The concept was ready for commercialization within a year. The initial batch of 2,000 units was sold out in less than 60 days.
The Fosseys are seeking investors for their product, which will take caddyswag marketing to a new level.
Do the Sharks have a chance or are the Fosseys wasting this chance?
How Was The Shark Tank Pitch Of Caddyswag?
Ben And Melissa Fossey appeared on Shark Tank seeking an investment of $60,000 for a 20% stake in Caddyswag.
The two had a modified golf course on the Shark Tank stage, blasting music and enjoying themselves.
Ben and Melissa Fossey pitched their product in a Fast Talking commercial where they gave the Sharks a couple of cheap Caddyswag coolers as a gift.
Caddyswag is perfect for golfers who want to have fun while they play, and who want to avoid paying large fees when they go to golf courses to purchase beer.
They wanted to receive $60,000 in exchange for a 20% stake in the business. The Sharks said that was unlikely to happen. They imply that the business is worth at least $300,000.
As golf courses frown upon players bringing their own drinks, sharks quickly learned the ethics involved.
Sharks said that they thought the product was trivial and a small business, and it was better suited to being sold on the Golf Channel.
Kevin Harrington said that Caddyswag needs to be advertised on the Gold Channel, as most golf products are geared towards lower scores. He is out.
He stated that there are other products on the market that are better than theirs and they are still cheap.
Daymond John is out since he doesn’t play golf and the business is quite small to invest.
Kevin O’Leary said the product is already available. There is nothing to invest in, and he is certain that he will receive a full refund of all his money. He is out.
Barbara Corcoran believes that the product is necessary, but it is a small business. No one will get their money back if they invest in it. You will not receive your money back. She is out.
Ben Fossey says Caddyswag’s products are an ideal solution for golfers who do not want to pay full price for their beverages when they go to a golf course.
Robert Herjavec says that the product is trivial and that it will not sell very many. He is out.
Ben takes away all the coolers that the Sharks had given him. He claims that they can purchase beer at the course for full price.
Kevin O’Leary is skeptical that he can profit from the product. The final Shark has been released.
Immediately after leaving the stage, Ben Fossey reclaims the Shark Tank promotional cooler from the Sharks.
What Happened To Caddyswag After Shark Tank?
The party is everything to Ben, and the party is everything to CaddySwag. As a golf bag cooler manufacturer with a unique twist, he continues to market and sell the product.
CaddySwag now offers a radio show starring celebrities from the entertainment and sports world.
They are planning pranks to gain attention to their company, such as providing Tiger Woods an open-ended $1 million sponsorship deal. Tiger has not yet responded.
Caddyswag Shark Tank Update
Caddyswag has been featured on various shows and podcasts after its appearance on Shark Tank TV.
The popularity of Caddyswag skyrocketed after its appearance on Shark Tank and it generated enough revenue from the Par Six cooler to keep afloat and grow even though the Sharks didn’t invest in the product.
Caddyswag has gained a niche in the golf market by offering customized cooler bags for businesses, special events, and weddings. The company sells its products on Amazon as well.
CaddySwag has an annual revenue above $1 million as of 2022.
Is Caddyswag Still In Business?
Caddyswag is still in business as of 2022 and headquartered in Minneapolis, Minnesota.
The company provides custom cooler bags that can be customized with unique sayings or captions directly on its website. Alternatively, you can order them directly through Amazon.
The online golf store Caddy Daddy Golf offers a diverse selection of golf-related products, including the customer-requested, similar-design cooler bag under accessories.
What Is the Net Worth of Caddyswag?
The valuation of Caddyswag was $300,000 when it appeared on Shark Tank. The net worth of Caddyswag is above $1 million as of 2022.