Lift Hamper on Shark Tank
Spring Loaded Clothes Hamper - Season 4 Update
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| The Lifter Hamper Finished Product |
I'm not sure how I missed this one, but the Lifter Hamper has to be the coolest clothes hamper on the market that thousands of people with back problems are going to love. The inventor of The Lifter Hamper is Marvin Phillip, a NFL Star who was drafted by the Pittsburgh Steeler's back in 2006. In 2008 Phillip had a back injury that sidelined Him for the rest of the Season when it was difficult just to bend over. Marvin may not of been able to play Professional Football but that didn't stop Him from helping out around the House including doing the laundry. Having to bend over to complete this task, Phillip reasoned there had to be a better way. What if the hamper was spring loaded going down when you put clothes in the hamper, then rises back up when you take them out? A light bulb went off and Marvin's entrepreneurial spirit took over designing the Lifter Hamper that would make bending over a thing of the past.
Marvin Phillip entered the Shark Tank seeking $85,000,00 in exchange for a 12% equity stake in the Lifter Hamper Business. He was already in the hamper business for 6 months with contracts from two rep firms, but no real sales yet to speak of. With such a cool invention for anyone with back problems, it would seem like a great product for Lori Greiner's QVC Show. But a product that has not proven itself in the market yet, and an extremely high valuation at this point in the game, left Lori very little choice but to go out. In fact all the Sharks go out as it appears Phillip had made the most common mistake for contestants not getting a deal on the shark Tank by over valuing their business.
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