Mr. Poncho Net Worth
Mr. Poncho is a company that appeared on Shark Tank in Season 1 Episode 10. The valuation of the company was $200,000 at the time of its appearance. Its current net worth is unknown as of 2022.
What is Mr. Poncho and Who Founded Mr. Poncho?
Mr. Poncho is a protective case for MP3 players that come with a headphone cord tangle-free design. The founders of Mr. Poncho are Sandy Hyun and Roman Pietrs, who are based in New York.
Sandy has been a jewelry designer for many years, and Roman works as a musician and graphic designer.
Sandy also has her own website where she designs and sells jewelry, while Roman works as a Creative Director at Global Popstar Design.
Sandy came up with the idea for Mr. Poncho to address a daily issue, and with Roman’s agreement, she designed a sleeve cover with an added rubber cup.
The user wraps the headphone cord around the cup’s center and folds back the corners to secure it.
Sandy started making the product herself and, with Roman’s help, began selling it online and fulfilling orders from their apartment.
So, Sandy Hyun and Roman Pietrs are the co-founders of Mr. Poncho
Mr. Poncho Shark Tank Pitch
Having made $45,000 in revenue over two years, Sandy Hyun and Roman Pietrs recognized that their business had the potential for growth, and they sought financing to establish an office outside of their home.
To find investors, they participated in Shark Tank, where they offered a 25% stake in Mr. Poncho in exchange for $50,000. This meant that their company was valued at $200,000.
The duo opened their pitch with a musical introduction, which left the Sharks amused and bewildered.
They then presented their product and gave samples to the Sharks, who asked specific questions about the product, such as whether they had a patent and the cost of manufacturing.
Although they had sold over 5,000 pieces, they had not conducted enough market research to satisfy the Sharks, who ultimately did not offer them a deal.
As a result, Mr. Poncho continued to sell its product directly to customers through online platforms like Etsy, but its lack of a proprietary patent on the primary component of their Mr. Poncho cases hindered its ambition of mass manufacturing.
Despite this setback, Sandy continued to sell her jewelry collection online and in several retail locations nationwide, earning approximately $1 million annually as of July 2021, while Roman works as a Creative Director at Global Popstar Design.
Mr. Poncho Net Worth
Sandy Hyun and Roman Pietrs enter Shark Tank in exchange for $50,000 and a 25% share in Mr. Poncho. This results in a value of $200,000.
Mr. Poncho Competitor
Mr. Poncho has no direct competitors.
Mr. Poncho FAQS
Who founded Mr. Poncho?
Sandy Hyun and Roman Pietrs.
What was Mr. Poncho’s biggest strength?
The product is designed to protect headphones from tangles, which makes it safe for kids and spouses to use.
What was Mr. Poncho’s biggest weakness?
The lack of a patent on the primary component of their Mr. Poncho cases.
Did Mr. Poncho get a deal from Shark Tank?
Mr. Poncho founders Sandy Hyun and Roman Pietrs enter the Shark Tank seeking $50,000 for 25% of their company but they left without any investment from the Sharks.
Which episode of Shark Tank featured Mr. Poncho?
Season 1 Episode 10 featured Mr. Poncho.
Where can they buy Mr. Poncho?
Mr. Poncho is no longer in business.
How do they make money?
Direct sales through their website and various online channels.
How does Mr. Poncho work?
Their product enables headphone users to avoid all the tangling and wrapping of cords.
What is Mr. Poncho’s revenue?
Sandy Hyun, who is the founder of Mr. Poncho, has been earning around $1 million per year from her jewelry as of July 2021.
How much money has Mr. Poncho made?
The duo grossed around $45,000 over two years and recognized the potential for growth; they sought financing largely to establish an office outside of their residence.
How much does it costs to purchase Mr. Poncho?
Their product is priced at $18.
Is Mr. Poncho still in business?
Mr. Poncho is no longer in business.
How did they come up with the name?
They came up with the name because they thought the name was ironic.
What industry is Mr. Poncho in?
They used to be in the Consumer Electronics space, but now they devote their time on jewelry and accessories such as earrings, necklaces, handbags and cell phone cases.
Who has the patent on their patents?
They have a pending patent on the product itself. They have not filed for a patent for the cup.
Who manufactures Mr. Poncho?
Sandy Hyun and Roman Pietrs manufacture Mr. Poncho themselves in their home workshop.
What else is Mr. Poncho known for?
They are also known for their work on jewelry and accessories such as earrings, necklaces, handbags and cell phone cases.
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