Dan Cafferty hoped to obtain funding for Coffee Brand Gifts in episode 104. He attended a coffee trade exhibition before his appearance.
While there were numerous things on display, he realized very few novelties or gift options for the average coffee enthusiast. There were no games, teddy bears, or other oddities that reflected the widespread love of coffee.
He consulted his patent attorney and determined that no one had the patents for the terms “latte,” “java,” “coffee,” or “cappuccino.”
He instantly filed for patents on common coffee terms, intending to create a line of items imprinted with the words he now controlled – this was the beginning of Coffee Brand Gifts.
He tested his concept at coffee shops and cafés, conducting customer surveys to measure interest in the products.
Cafferty had one difficulty. He required financing to begin creating the things he intended to sell. He sought assistance from the Sharks.
What is Coffee Brand Gifts?
Coffee Brand Gifts was a proposed line of coffee-themed novelty items and gifts that included teddy bears to puzzles.
The business never got off the ground, and the website has now been taken down. The founder of Coffee Brand Gifts approached the Shark Tank for $300,000 for a 40% stake in the company, but the sharks declined to invest due to a lack of sales experience and a poor pitch.
Dan Claffey, desperate for the assistance he would require to reach out to America with coffee-themed presents, went to the Shark Tank to propose his idea and seek money to make his firm succeed.
|Company Name||Coffee Brand Gifts|
|Product||Coffee-themed gift items|
|Investment Seeking||$300,000 For 40% equity in Coffee Brand Gifts|
|Final Deal||No Deal|
|Business Status||Out of Business|
Who is the Founder of Coffee Brand Gifts?
Dan Claffey is the entrepreneur behind Coffee Brand Gifts.
Coffee Brand Gifts Before Shark Tank
Coffee Brand Gifts was developed by Dan Claffey due to his unbridled enthusiasm for the beverage.
Dan observed something strange while attending a coffee trade exhibition. While there were numerous products on display, few booths offered gift suggestions for the average coffee enthusiast.
Claffey was certain that the absence of plush animals, games, and other present ideas was a terrible farce. He even dug a little deeper and discovered that popular coffee shop terms such as “java,” “latte,” and even “coffee” were not patented by a single individual.
Claffey seized the chance and filed a patent application for these words in hopes of exploiting them on his line of Coffee Brand Gifts items.
With such a broad business concept in mind, he visited local coffee shops and cafes to collect the presents that true coffee enthusiasts would like.
After doing many surveys in various areas, Claffey compiled a list of probable products he might sell and possibly earn from.
However, there was one critical issue he encountered. Coffee Brand Gifts had little prospect of success due to a lack of funds.
How Was the Shark Tank Pitch of Coffee Brand Gifts?
Claffey first discusses discovering the untapped market while attending a coffee convention before asking $300,000 for 40% of Coffee Brand Gifts. The trade expo had 500 exhibitors, but only 2% displayed gifts and novelties.
Following this finding, he patented a slew of regularly used coffee-related terms to create the plush animals, game boards, and other toys that would eventually form the foundation of his company.
Robert Herjavec acknowledges that his trademark is remarkable, but he wants to know why this concept is marketable. Claffey describes how he gathered data by conducting surveys and allowing people to play his invented games. Still, Kevin O’Leary abruptly breaks him off to ask, “Have you sold any of this nonsense?”
Due to a lack of financial resources, Coffee Brand Gifts has not accepted orders due to the minimal quantity. The Sharks appear to be perplexed by his priorities and start to jump down his throat.
O’Leary asserts that if he invests $300,000 to manufacture all of the things Claffey plans to sell but the business fails, he will terminate Claffey as a waste of both his time and money.
Dan admits to Daymond John that he has already invested approximately $500k in the company.
Barbara Corcoran, pained to learn of his poor investing selections, says he should devote more time to research given how skillfully he gathered the information for his failed company venture.
She decided not to invest and withdrew after imparting this sound advice to him. Claffey begins hurriedly, explaining that he did not want to take any orders until he was sure he would have the money to fulfill them, but the Sharks all shake their heads and tell him this is not the right way to conduct a business.
O’Leary calls it “un-American,” and Herjavec believes he is terrified of sales. Each Shark, one by one, decides not to invest in the company, deeming it a complete waste of their time. Dan, completely defeated, thanks to them politely before exiting the Shark Tank with his tail between his legs.
Coffee Brand Gifts Shark Tank Update
Cafferty promises to prove the Sharks incorrect following the show. He is committed to this company concept and determined to see it through, with or without their assistance.
Cafferty’s concept is all he has. He owes only the Sharks what they invested since his obligations are worthless without sales or orders.
Coffee Brand Gifts never gets off the ground, even though he owns the patents and pursues other business ventures.
What Happened To Coffee Brand Gifts After Shark Tank?
Dan Claffey resolved to continue plodding forward with Coffee Brand Gifts despite receiving a negative response from every Shark.
One would assume that as a market sales professional who has already experienced success, he would have little difficulty starting his own business.
The only problem was that Claffey might have lost motivation to keep the business afloat, as there were no further orders or sales of Coffee Brand Gifts.
Though the company has a Facebook page (https://www.facebook.com/pages/Coffee-Brand-Gifts/139561091271), the most recent post was advertising two years ago, another business initiative.
Claffey retains the patents for the popular coffee terms but has been unable to capitalize on them since his appearance on ABC’s television show.