HyConn LLC Shark Tank Update | HyConn LLC after Shark Tank
What is HyConn LLC?
HyConn LLC is a company that manufactures a fast connection for fire hydrant hoses. Connecting a HyConn to a hydrant takes less than three seconds and requires no threading or twisting.
Many homes were damaged by fire during Jeff Stroope stint as a fireman in Texas. He understood that the time it took to attach the hose to the hydrant to feed water to the fire was a contributing factor.
He felt there had to be a better method, so he invented HyConn. He not only designed a HyConn for firemen, but he also designed a HyConn for the house.
He also created a HyConn for the house, which is a connection that clamps onto garden hose spigots. The fireman can use HyConn to connect the hose to a hydrant in three seconds or less and link it to the hydrant without threading or twisting.
It’s not only quick and simple, but it’s also secure. The fireman, or anybody else, does not have to be concerned about the water pressure blowing off the hose because it has been verified and tested at 1,000 psi.
Who is the founder of HyConn LLC?
Jeff Stroope is the founder of HyConn, after seeing numerous homes damaged by fire during his stint as a fireman in Texas.
He understood that the time it took to attach the hose to the hydrant to feed water to the fire was a contributing factor. He felt there had to be a better method, so he established HyConn.
His experience as a fireman inspired him to create the HyConn. The quick-connect device allows firefighters to swiftly and simply connect to an existing hydrant, while also providing a safe and effective connection.
The HyConn for the Home has a connection that makes connecting garden hoses to spigots easier. HyConn connects to a hydrant in three seconds or less, significantly shorter than the customary 30 seconds it takes to connect a hose to a hydrant.
Finding the time to design and build HyConn was one of the issues Stroope encountered. He was not only a fireman, but also the full-time captain of the fire department and the maintenance supervisor.
This means he didn’t have a lot of spare time to devote to the product’s development, but he focused the time he did have at night and on weekends to his concept, Jeff had already put 11 years of his life into HyConn.
What Happened to HyConn LLC at Shark Tank pitch?
Stroope decided to propose his product to Shark Tank investors in episode 8 of Season 2 of HyConn of Shark Tank to assist him broaden the potential appeal of the products.
Stroope enters the Shark Tank dressed in his turn-out gear, seeking for $500,000 in exchange for 40% stake in his company valued at $1.25 million.
He describes the concept of HyConn LLC as the “world’s quickest technique” to connect and detach from a hydrant.
He compares the time it takes to connect and detach the HyConn with a regular standard hose, demonstrating the significant difference in the length of time it takes to connect to the water supply.
Stroope has already approached the main fire apparatus distributors about purchasing the patent. They declined, but offered to distribute the product if he could bring it into production.
Daymond John exits because of their apparent lack of faith in the product. Barbara Corcoran does not believe that towns will invest $7,000 to save 8 seconds. She goes out.
Robert Herjavec wants to know if the device may be used in other businesses, such as a garden hose at home.
Stroope takes an adapter from his pocket. He’s already thinking about a residential version of his product.
Mark Cuban offers $1.25 million and offers him a three-year job contract, as well as a part of the firm’s revenues, in exchange for 100% ownership of the company.
Kevin O’Leary intervenes, but he’s just concerned with the garden hose adaptor. He offers $500,000 for 100% ownership of the product, plus a 3% royalty on sales.
Robert Herjavec considers Cuban’s offer to be “too generous,” and he refuses to match it. He goes out. Mark Cuban revised his offer with $1.25 million for 100% ownership of the company plus $100,000 per year for 3 years contract and 7.5% royalty.
There are two offers on the table, but only one may be accepted. Stroope accepts Mark Cuban’s offer and walks away from the pitch with a deal.
What Happened to HyConn LLC after Shark Tank?
Although the deal struck may have catapulted HyConn to success, reality television isn’t always what it’s made up to be.
Following additional talks, Mark Cuban decided to license the product rather than manufacture it. Stroope was dissatisfied with some of the alterations to the deal, and the two finally split up.
The Shark Tank exposure and subsequent re-airings were not as beneficial for the company in this scenario. Stroope couldn’t fulfill his orders without the Shark deal, and it took him several years to find another backer.
His website is active, but his social media accounts appear to be slow, and several users have pointed out similar items on the market.
Despite the Shark deal Stroope secured, it appears that HyConn LLC fire isn’t as bright as it once looked.
Stroope’s LinkedIn page still displays the firm as “open” as of July 2021.
Since April 2021, social media has not been updated. Stroope is now the Tool & Die Shop Manager for D&M Holding Company, an Arkansas munitions manufacturing.
Net Worth of HyConn LLC
The company valuation was $1.25 million during and after the pitch. Since then the company is no longer operating and hence the current net worth is unavailable.
HyConn LLC FAQs
What is HyConn LLC?
HyConn LLC is a manufacturer of quick connects garden hose connectors for fire departments and businesses.
The company was founded by Jeff Stroope a former fireman and amateur inventor. He has been involved in the fire service for 24 years, holding the rank of captain while also serving as maintenance supervisor.
How much was asking on Shark Tank?
Stroope was seeking for $500,000 for 40% stake of his company at value of $1.25 million.
Did they have the deal?
Yes, the deal was struck with Mark Cuban on episode 8 of season 2.
How much was the deal?
Mark Cuban offered $1.25 million for 100% ownership of the company plus $100,000 per year for 3 years contract and 7.5% royalty. But the deal was never finalized.
Is HyConn still in business?
Stroope was later granted a patent for HyConn, however the product was still not available for purchase as of 2016, and HyConn subsequently went out of business.
How to contact HyConn LLC?
The short-term contact information is unknown but the main contact details are available on their website as well as social media accounts.
What is a quick fit connector?
Hydrant quick-connectors allow firefighters to attach garden hoses to fire hydrants in less than two seconds. The nearly one-inch long connection can also be used on residential spigots.
What is the difference between HyConn LLC and another product on the market?
The difference lies in the design, structure and features of HyConn LLC water hose connectors.
Was HyConn LLC a scam?
HyConn LLC is not a scam but they clarify that they are an organization that is offering fire and sanitation products.
Was HyConn LLC shipping?
The shipping information for HyConn LLC is not available and their website is unavailable.
What is their phone number?
The contact number is not available information.
What is the shipping cost?
The shipping cost for HyConn LLC is unknown but the details cannot obtain from their website.
What is the net worth of Jeff Stroope?
Jeff Stroope net worth is estimated at $1.1 Million