Shark Tank episode 110 features Mark Burginger and his Qubits construction toys.
The toys were designed by Burginger, a former United States Air Force officer with a degree in architecture, to encourage children out of their comfort zones to construct 3D constructions that are more rigid and sturdy than Legos or other current building toys.
He founded, built, and sold a balloon company that generated multiple million-dollar revenues during its peak years, so he does have a track record to draw upon. The Qubits toys he designs are inspired by nature.
The pieces snap together similarly to other construction toys, but the piece’s unique form and flexibility provide a greater variety of design options than standard blocks.
Are the Sharks going to bite? Burginger has been operating his business out of his garage and is anxious about expanding his debt and capacity.
What Is Qubits?
Qubits are the 21st century’s equivalent of Legos. They’re a construction toy that teaches children about geometric forms and modular design while expressing their creativity and skill in creating and building buildings.
Play-based learning is excellent, particularly for younger children. They are unaware they are tilting.
It may seem like playtime to your children, but they will remember the relationships they build as they develop and learn during this time.
Qubits are unusual among building toys in that their triangular shape resembles a variety of natural phenomena. Additionally, the parts are malleable.
This makes it simple to construct objects such as trees, snowflakes, and spheres that are difficult or impossible to construct with conventional construction toys.
You can construct skyscrapers, boats, and spacecraft, as well as virtually anything else you can think of. They are quite durable, effortlessly withstanding wear and tear over time.
Take them outside, to the pool, or just around the home. The big pieces make them easier to locate and clean, and they float, ensuring that no parts are lost in the water.
|Product||STEM toy built from modular blocks|
|Investment Seeking||$90,000 For 51% equity in Qubits|
|Final Deal||$90,000 For 51% equity in Qubits|
|Episode||Episode 14 Season 1|
|Business Status||In Business|
Who Is The Founder Of Qubits?
Mark Burginger is the founder of Qubits, who pitched the product on Shark Tank.
Qubits Before Shark Tank
Mark Burginger thinks that his product will help him share his passion for architecture and encourage youth.
Mark Burginger is a native of Bend, Oregon, and Qubits, a building toy for children.
Mark claims that he is an architect and, like many others, enjoyed playing with building toys as a child.
He asserts that he believes it affected his decision to pursue a career as an architect in the first place.
At the moment, due to the weak economy, architectural employment is few. Once Mark began accumulating debt, it burdened himself, his wife, and even his children.
Mark Burginger declares that he is semi-employed, owes sixty thousand dollars, and has a garage stuffed with Qubits. He claims that Shark Tank is his final hope, and he is hoping for an investment.
How Was The Shark Tank Pitch Of Qubits?
Mark Burginger confidently goes up to the Sharks and takes a position in front of them.
The presentation begins with Mark Burginger introducing himself and his creation, a building toy called Qubits.
Mark indicates that he is seeking a ninety thousand dollar investment in exchange for a fifty-one percent interest in his business.
Mark Burginger begins his lecture by describing what makes Qubits so special. Qubits are tiny and flexible toys that, unlike any other toy, allows you to form curve shapes.
“Mark Burginger is holding Qubits and constructing something with them.”
According to Mark Burginger, the Qubits are relatively simple to assemble, as they are simply connected through a connection.
You can create anything you want using your creativity and the many Qubits components, and it’s rather simple.
“Mark Burginger demonstrates to the Sharks what he has created in less than a minute.”
“Barbara Corcoran requests that Mark Burginger provide them with some of the Qubits inventions he has brought with him so that they can feel and see them up close.”
Robert Herjavec asserts that he is suspicious, even though Mark Burginger appears to be a trustworthy individual.
A Shark Tank contestant voluntarily giving up 51 percent of their business is an exceptionally rare occurrence, according to Robert Herjavec. He wonders why Mark Burginger is willing to relinquish control of his firm.
Mark Burginger responds to the question by stating that there are a few explanations behind this. The first reason is that he is intelligent.
He also hopes that the company will be led by the best board of directors. Mark contends that he can only do that if he gives up his controlling stake in Qubit.
“Daymond John asks Mark Burginger whether he has a patent on Qubits and if any other toys bend and twist like Qubits.”
Mark Burginger responds to the inquiries by stating that he owns the patent for Qubits and is aware of no other toys similar to Qubits.
“Barbara Corcoran is genuinely interested to hear from Mark Burginger about how Qubits came to be.”
Mark Burginger notes that it was a long-awaited artistic project. He asserts that Qubits may be used to construct natural structures, which is also directly related to science.
“Kevin O’Leary asks Mark Burginger when he started working on Qubits and when they became available commercially.”
Mark Burginger says he has sold $8,000 worth of Qubits since November 2007 as a response to inquiries about the toys.
“Kevin O’Leary and Robert Herjavec appear astounded by the low level of sales since Qubits reached the market.”
According to Kevin O’Leary, the industry has been dominated by LEGO, the building toy of choice, for decades and holds a monopoly on the market.
Kevin explains that the difficulty with this business is obtaining distribution, and sure, it is a significant one, as every youngster enjoys playing with these blocks.
“Mark Burginger was asked by Kevin O’Leary if he has approached any major toy companies to demonstrate Qubits.”
Burginger responds negatively to the topic by stating he hasn’t approached any major toy makers.
“Robert Herjavec inquires of Mark Burginger how much personal capital he has invested in Qubits.”
Mark Burginger responds by saying that he has invested sixty thousand dollars of his own money into Qubits, with a significant portion of the money originally borrowed.
Kevin O’Leary believes that Mark Burginger has only one choice with the resources he has currently. Qubits either merits the support of a toy manufacturer or doesn’t.
Kevin O’Leary has stated that he does not see how his investment would benefit Qubits and has withdrawn.
Kevin continues by explaining that there are four big toy businesses, which means Mark Burginger must make four phone calls hoping that one of those four firms will be interested in acquiring Qubits.
Kevin further adds that there is no possibility of investing unless Qubits earns the backing of one of those toy makers.
Robert Herjavec admits that it’s difficult and that Mark Burginger has effectively thrown away sixty thousand bucks.
Robert continues by explaining that one of the most important aspects of sales is effective time management. Robert Herjavec has also announced his retirement.
“Mark Burginger disputes Robert Herjavec’s assertion that he squandered his money.”
According to Kevin Harrington, Mark Burginger is competing in a massive market against established firms who have spent tens of millions of dollars building their names.
Kevin Harrington adds that he does not believe Mark Burginger will compete with them and has ruled him out.
Barbara Corcoran declares unequivocally that she concurs with Kevin Harrington’s statement and that she, too, is out.
“Daymond John is holding a Qubits-based ball and inspecting it.”
Daymond John expresses worry about many issues. He admits that he is unfamiliar with the toy industry, but he appreciates that Mark Burginger approached him and gave him fifty-one percent ownership in his firm.
Daymond also adds that he believes Mark Burginger is a well-educated man and appreciates the Qubits’ branding.
Daymond John indicates that he is offering $90,000 in return for a 51 percent share in Qubits.
Additionally, he says that his offer is valid only if they contact one of the four largest toymakers and strike a contract with them.
“After a brief period of reflection, Mark Burginger accepts Daymond’s offer.”
Mark Burginger is grateful for the opportunity to work with such a dynamic individual as Daymond John after the conversation.
Mark believes that Daymond can assist him in securing a larger transaction, which will benefit Qubits in the long run.
Mark Burginger appears to be quite pleased, and he indicates that his wife and children would be equally pleased that he was able to secure an investment from Daymond John.
What Happened To Qubits After Shark Tank?
Mark Burginger struggled with his company’s finances, all the more so given his sixty thousand dollar investment, the most of which was borrowed from other individuals.
Mark Burginger has been experiencing financial difficulties for some time, exacerbated by the economic crisis’s inability to locate many architectural assignments.
He has not been able to earn a lot of sales since he founded Qubits in 2007. Qubits are not mentioned as the greatest or worst sharks in Shark Tank.
Four of the five Sharks declined to invest in Qubits, either because they were uninterested in toys or felt that gaining market share in the toy sector would be nearly impossible.
Mark Burginger needs shark capital to keep his company and himself afloat while increasing production and sales.
Mark Burginger appears to have maintained his commitment to Qubits, aided in no little part by Daymond John.
On http://www.qubitstoy.com, you may learn more about Qubits and place an order for one of the two sets. It’s great to see that the website has been updated to use new technologies, giving it a current, fresh appearance.
Additionally, you may purchase Qubits sets on Amazon, where they have received overwhelmingly favorable ratings. Qubits have a 4.5-star rating on Amazon, indicating that the product is quite popular. Qubits also have a Facebook page, which has received a large number of really good reviews.
I expected Qubits to collapse as a business, all the more so given Mark Burginger’s massive debt. I was pleasantly delighted to see that the firm survived and that Daymond John could assist Mark Burginger financially and with his skills.
Qubits goods are quite popular, particularly with youngsters who enjoy building various structures and items.
On the Qubits website, there are now two distinct Qubits sets available. The first set is called the Qubits Rainbow Kit, and it is a starting kit comprised of Qubits of various colors. $54,95 is the price of the Qubits Rainbow Kit.
The Qubits Travel Kit is a more compact kit that can be taken on vacation with you. Qubits Travel Kit costs $24,95.
Qubits Shark Tank Update
Burginger could not close a deal with any of the four toymakers he communicated despite John’s contacts and assistance.
John and Marlene kept in touch even after their transaction fell through. John mentored Burginger, who could land a deal with Discovery Toys, distributing toys through home parties.
The purchase was a success, and Discovery provided Burginger with the platform necessary to bring Qubits to the public’s attention. Sales increased dramatically.
Today, Qubits is a family-owned firm with a solid track record of success. Qubits became a success even without a Shark Deal.
The company is still operating as of September 2021. It relocated manufacturing to Hendersonville, North Carolina, and generates $1 million in yearly sales.