What are Paper Box Pilots?
Paper Box Pilots is a firm that provides decorative stickers that kids can use to transform cardboard boxes into toy vehicles (race cars, planes, fire engines).
A 13-year-old boy Noah Cahoon came up with an idea to turn ordinary boxes into innovative toys for young children. Noah Cahoon is the founder and chief executive officer of Paper Box Pilots.
Paper Box Pilots founder Brian Cahoon (and his two lovely sons) pitched the company on Shark Tank in 2014. They approached Tank with a request for $35,000 in investment.
Kevin O’Leary offered Cahoon $35,000 in exchange for 50% stock after receiving three bids. O’Leary highlighted his experience and ties to Mattel.
Paper Box Pilots designs stickers to transform plain cardboard boxes into toys. Noah Cahoon debuted in Shark Tank in season 6 alongside his father, Brian Cahoon, and Milo Cahoon’s younger brother.
|Company Name||Paper Box Pilots|
|Entrepreneur||Noah Cahoon and Brian Cahoon|
|Product||Box toys for Kids|
|Investment Asking For||$35,000 for 25% equity in Paper Box Planes|
|Final Deal||$35,000 for 50% equity in Paper Box Planes|
|Episode||Season 6 Episode 4|
|Business Status||Out Of Business|
Who are the Founders of Paper Box Pilots?
Noah Cahoon is the founder of Paper Box Pilots. Brian claims he will draw the object on the box to resemble a plane. Brian then began printing the images and adhering them to the box.
Noah explains that when his younger brother Milo got into box planes, he came up with the idea to create stickers.
Noah and his father turned this idea into a business. Before appearing on Shark Tank, the product was already available in 27 retail outlets.
The stickers would be attached to the instructions for cutting the box on the sheet. They participated in the show to raise additional production funding and expand their business abroad.
Paper Box Pilots Before Shark Tank
Christmas is approaching, and families across the country are giving gifts to children excited about the holiday. However, as is often the case, the receivers of those expensive goods soon discover that the box is much more exciting.
All parents know it is a regular occurrence during the holiday season. Paper Box Pilots has given us a method for turning any old box into a present on its own.
When he was younger, Brian Cahoon often spent time with his son Noah, transforming boxes into boats, cars, planes, and anything else he could think of.
Now thirteen years old, Noah remembered his fun with his father’s boxes and decided to make custom boxes for his younger brother Milo.
When Noah had his epiphany, Milo enjoyed running about in a box decorated to look like a plane.
He wondered how many parents would be willing to spend money on stickers that could be applied to any box to make an interesting toy without using batteries.
When he discussed the idea with his father, Brian, who possessed an entrepreneurial spirit of his own, was more than willing to support his son.
Noah received a small business loan from him to start his own business, Paper Box Pilots.
How was the Shark Tank Pitch of Paper Box Pilots?
Noah and Milo, Noah’s younger brother, participated in the show, and Brian’s father. The company announced him as Chief Fun Officer or Chief Fun Officer.
Noah and Milo appeared on Shark Tank requesting an investment of $35,000 in exchange for a 25% equity in Paper Box Pilots.
When Brian and Noah entered the tank, they hoped to attract a shark willing to invest $35,000 in their firm. They also took along another board member, Brian’s five-year-old brother Milo, whom Brian claimed was the company’s “CFO,” or Chief Fun Officer.
Brian and Noah shared their business history, including the first boxes Brian had prepared for young Noah and Noah’s own efforts for his younger brother.
They explained to the sharks the incredible appeal a simple cardboard box may have for all young children, and they nodded in agreement.
The CFO of the company performed his duties with zeal as he modeled an airplane for the sake of his audience.
Some sharks appeared to be melting due to the onslaught of adorableness.
Perhaps Noah and Brian observed a glimmer of envy in Robert Herjavec’s eye when they offered him his racing car box, which he eagerly accepted.
After the slightly surreal sight of Robert Herjavec running in circles with a box around his waist had passed, Milo flew out of the tank, preoccupied with his CFO responsibilities.
The Canadian-born entrepreneur Kevin O’Leary is the shark most suited to the children’s toy market. O’Leary got his wealth through the 1999 sale of The Learning Company to Mattel.
He understands the market for children’s items more than any of his other sharks.
He was intrigued by the product’s premise, but he thought it would be better if it came with a plain box to place the stickers.
Barbara Corcoran questioned the sticker’s pricing and cost. Noah responded with confidence and detail, and the sharks were pleased by the young entrepreneur’s preparation.
Mark Cuban inquired about sales, and although the overall amount of $7,500 was somewhat modest, the product was extremely inexpensive and required volume sales to generate a respectable profit.
Noah presented the business, founded only eight months prior, as a strong enterprise with steady growth.
The sharks were impressed by his explanation and were unfazed by the business’s historically poor sales; however, the business’s growth potential was contingent on the market’s size.
Noah responded that the stickers were sold in 23 retail locations, primarily independent toy shops and online. Barbara Corcoran inquired about Brian’s level of involvement in the firm.
Brian stated that he fully backed Noah’s business endeavors but left all choices regarding the company’s future to him alone.
Brian explained that he had aspired to manage a business when he was younger, but the birth of his son compelled him to adopt a less dangerous path to provide the greatest upbringing for his son.
He had taught Noah that life was not limited to one path, that he was not required to climb the corporate ladder, and that he was always encouraged to pursue his entrepreneurial ideas.
Kevin reiterated his interest in the firm and his idea that the stickers should be sold in a box and then declared his willingness to make an offer.
He proposed a $35,000 investment in exchange for a fifty-fifty business partnership.
In addition, he warned Noah that he would be required to quit school, much to the amusement of the other sharks.
Noah doubted Kevin was kidding and noted that Kevin was only in eighth grade. “So you’re missing a few grades,” Kevin responded.
Noah appeared thrilled to receive at least one offer, thanked Kevin warmly, and questioned whether any other sharks were willing to invest in his business.
Mark Cuban congratulated Noah on his offer and described Kevin’s proposal as “fair.” He left because he did not believe he could offer as much value to the firm as Kevin.
Lori Greiner admired what Noah had accomplished thus far, especially the idea’s simplicity, but she did not believe the business would be easily scalable.
She encouraged Noah to call her in a few years if he wanted her to work for her, but she was also no longer available.
Robert Herjavec, still elated from his previous delight of the cardboard box with automobile stickers, informed Noah that he would match Kevin’s offer of $35,000 for an equal stake in the business in exchange for an identical stake.
Kevin O’Leary remarked on his experience with Mattel and his $4 billion agreement with them.
He emphasized his expertise in the sector and informed Noah that if he chose Kevin as a partner, the business might cover his college expenses.
Barbara defused the tension between Robert and Kevin by presenting Noah with a choice. She offered $35,000 for 35% equity, a better deal than the others, with the condition that Noah makes Paper Box Pilots stickers appealing to girls and boys.
This time, Robert acted swiftly, increasing his offer to a $50,000 investment in exchange for a 50% stake. He stated, “The math is the same,” and then claimed, somewhat unexpectedly, that he was “The Fun Shark” and the ideal partner for a fun product.
I’ve never seen Robert Herjavec referred to as “The Fun Shark” before or since, and Kevin wasn’t about to allow Robert’s questionable self-promotion to go uncontested. Kevin maintained that he would offer the most value to the company and urged Noah to make a decision.
Noah, somewhat shaken by the experience of having three sharks compete for a contract with him, had a brief talk with his father in a whisper.
Brian told him to decide and choose the mentor he believed would be best for the firm. Noah didn’t hesitate long before announcing that he would gladly accept Kevin’s offer.
Kevin was ecstatic at Noah’s decision, while Barbara was far less enthusiastic; she cried, “Incredible!”
Final Deal: Kevin O’Leary agreed to invest $35,000 for 50% equity in Paper Box Pilots.
How Do Paper Box Pilots Make Money?
According to the founder of Paper Box Pilots, the products are sold at 24 retail locations. They were primarily after toy stores.
Paper Box Plane, for instance, had three sticker sets: one for an airplane, one for a racecar, and one for a fire truck.
Paper Box Pilots generated $75,000 in revenue during its first eight months, but no information is available on subsequent years.
Before the shark tank, each set of Paper Box Pilots costs $8. Amazon and other marketplaces sell this product. In addition to online sales, the company also distributes this product in toy stores.
After the shark tank, Paper Box Pilots packaged all three sets in a $20 “Shark Tank Special” box.
Who are the Investors of Paper Box Pilots?
Paper Box Plane received $35,000 in exchange for 50% of its stake because it would sell boxes and stickers. Kevin O’Leary became a co-owner of the corporation through this transaction.
What Happened To Paper Box Pilots after Shark Tank?
Paper Box Pilots began receiving increased orders via the website following Shark Tank. In an interview with a morning news program, Noah and his father stated that they received more orders for the product after the shark attack than they received in the previous eight months.
A girl-friendly sticker has been added to the firm’s website in response to Barbara’s suggestions. However, the company does not sell the boxes with the boxes because they want people to reuse and recycle their old ones.
Paper Box Pilots’ website appears to have been deactivated, and the Facebook page has not been updated. Noah appears to have taken a break from the business to further his education.
What Is the Net Worth of Paper Box Pilots?
The valuation of Paper Box Pilots was $140,000 when it appeared on Shark Tank. The net worth of Paper Box Pilots is unknown as of 2022 since the company went out of business.