What Is The Freeloader?
The Freeloader is a kid carrier designed to be ultra-light, highly portable, safe, and durable for active families.
The padded, curved shoulder straps and the padded waistband of this kid carrier allow it to carry far more weight than any other kid carrier while evenly distributing it.
Moreover, the Freeloader is designed with your child’s safety in mind and is equipped with a five-point harness system to prevent a fall.
The Freeloader is an ultra-sleek child seat carrier that can accommodate children weighing 80 pounds.
The youngster is secured and safe using a five-point harness. The Freeloader secures your youngster in a chair that is held safely and securely on your back.
The shoulders are effective, but the piggyback never is. Nathan and Erick developed the idea from their experience as firefighters accustomed to carrying heavy loads on their backs.
|Company Name||The Freeloader|
|Entrepreneur||Nathan Jones and Eric Jansen|
|Product / Business||kid carriers, backpacks, and travel tools|
|Investment Asking For||$200,000 for 15% equity in The Freeloader|
|Final Deal||$200,000 for 33% equity in The Freeloader|
|Episode||Season 5 Episode 3|
|Business Status||In Business|
Who Is The Founder Of The Freeloader?
The Freeloader was founded by firefighting fathers Erick Jansen and Nathan Jones from Austin, Texas.
They describe it as “a child carrier, a baby backpack, and a hiking carrier all rolled into a single package.”
Regardless of his age, you don’t want to carry someone, whether he’s a kid or a man.
Two firefighters eventually came up with a solution called The Freeloader, which is similar to a backpack but does something radically different than any other backpack.
The Freeloader Before Shark Tank
According to the company’s website, Erick Jansen developed the Freeloader Child Carrier as he walked through the streets of Paris with his daughter Sam at the age of four.
The majority of the time, Sam was able to continue hiking through the city each day, but eventually, she would meet a wall and have to stop for the day.
It was important to him to design a carrier that would ensure everyone in the family would be able to share the experiences at all times.
He decided to develop a lightweight, portable infant carrier that was tiny but could be folded down for the convenience of storage and transportation.
The ideal device would be adaptable and compact to expand your experience without compromising your comfort, safety, or ease of use.
The perfect carrier would be one that would allow the entire family to take part in the adventure!
How Was The Shark Tank Pitch Of The Freeloader?
Erick Jansen and Nathan Jones appeared on Shark Tank requesting an investment of $200,000 in exchange for a 15 percent stake in The Freeloader.
Final Deal: Robert Herjavec agreed to invest $200,000 for 33% equity in The Freeloader.
What Happened To The Freeloader After Shark Tank?
This Freeloader campaign took off like wildfire, covering the internet and a few television marketing channels simultaneously.
Robert’s funding has enabled The Freeloader to launch in various stores, such as Kohl’s and several JCPenney’s, both large outlet stores in the United States that offer mostly clothing.
Freeloaders are expected to continue to evolve, and I think The Freeloader may become the future design in terms of function and appearance.
Many new features have been added to the Freeloader’s latest models, including stirrups, handles, and more pockets.
The Freeloader Shark Tank Update
Robert Herjavec offered to invest $200,000 in exchange for 33 percent of Erick Jansen and Nathan Jones’ company, and those two entrepreneurs decided to take him up on it.
They were able to secure the financing they needed to take the manufacturing of the My Freeloader to the next level, but it required them to give up a little more of their firm than they had anticipated giving up in the beginning.
They believed that they had given away much too much equity and that Robert Herjavec would be able to contribute very little to the table; therefore, they withdrew from the offer shortly after the show ended. They believed that they had given away far too much equity.
After the show, Nathan and Erik decided not to execute the agreement with Robert Herjavec because they felt that they would be giving up too much equity if they did so.
The people who started Freeloader are currently negotiating licensing agreements and selling products on their website and on Amazon. They are persistent in their efforts to expand the company.
Freeloader developers are carving out their niche and growing their company, expertly navigating the waters of commerce without support from a Shark.
The Freeloader is still in business as of June 2022. The Freeloader generates annual revenue of $5 million.
Is The Freeloader Still In Business?
Robert Herjavec and the Freeloader did not finish their agreement after the show because they thought they had invested too much ownership in the company to give it up.
Their products are sold through their website and Amazon once they have negotiated licensing agreements. The company continues to grow.
Jansen and Jones decided that 33 percent of the offer was too much to give away and withdrew from the deal after the episode of Shark Tank aired.
You can choose from three different color options for the Freeloader: yellow, gray, and blue. The prices of the Freeloader range from $279 to $379.
What Is the Net Worth Of The Freeloader?
The valuation of The Freeloader was $1.3 million when it appeared on Shark Tank.
The net worth of The Freeloader is $3 million as of 2022.