Subsafe Shark Tank Update | Subsafe after the Shark Tank Pitch
What is Subsafe?
SubSafe is a one-of-a-kind container that was created mainly to accommodate the classic submarine sandwich.
The container has an extended shape and comprises three components that fit together to form a truly watertight vessel.
This container is appealing because of the variety of colors available and because the plastic used in its manufacture is BPA-free.
Consequently, it’s safe to conclude that SubSafe is designed for folks who like eating a tasty sub sandwich while hiking, camping, or boating.
Of course, you may bring your SubSafe to work with you as well, because a sandwich can never be too safe!
The typical 6- to 12-inch sub may easily fit within the container due to the available room.
If you unscrew one of the container’s sides, you may remove the lid and utilize the container’s little container to hold your half-eaten or smaller subs.
Who is founded Subsafe?
Adam Haller and Desiree Haller are the founders of Subsafe.
What happens to Subsafe at the Shark Tank pitch?
In the Shark Tank episode, Adam and Desiree Haller want to close a deal for SubSafe, their crush-proof, waterproof cooler for sub sandwiches.
Most Floridians enjoy Publix sandwiches and outdoor leisure, which the Florida couple enjoys as well.
When they returned home from fishing outings with damp subs — the kind that becomes wet from melting colder ice – they were increasingly angry.
They established their company in February of 2018.
Their company had barely been open for a few months when they filmed to be on the Tank.
Pink, blue, and charcoal are the three colors available for the Sub Safe.
Each one costs $17.95. Optional straps are also available for $3.50 apiece. Provision Packs, a charity that distributes meals to impoverished children, receives $0.50 from each transaction.
The Hallers are hoping that a Shark can assist them in progressing to the next stage.
Adam and Desiree Haller appear on Shark Tank with a $50,000 offer for a 13 percent stake in their company.
They give out samples and explain the product’s origins.
For the first four months of the company, sales are only $40,000. The margins are good: each Sub Safe costs $2.38 to produce and retails for $17.95.
The Sharks are concerned about the poor sales, but the couple explains how they had to sell their yacht to fund manufacturing and had little money left for marketing.
They claim to be on the approach of striking a deal with the country’s largest subcontractor.
Lori still goes out since the market is so tiny.
Mark and Kevin consider making an offer, but they’re hesitant because of the amount of stock they’d demand.
Meanwhile, Mark and Charles are over to the side, speaking.
They make an offer of $100,000 ($50,000 each) for a quarter-share of the firm.
The pair accepts right away.
Subsafe after the Shark Tank Pitch
While it’s unclear whether the sale has concluded, one thing is sure: Sub Safe is located at every Publix supermarket’s deli department, where customers may purchase subs.
The price has been cut to $14.95, and the product has received excellent reviews.
They expanded into a 4000 square foot warehouse in 2019.
They have begun selling their new VyroSafe paper straws in bulk to cruise ships, restaurants, and hotels; over 4 million have been sold.
In 2019, ORCA coolers signed a license agreement with SubSafe to offer SubSafes with NFL and college sports club logos.
WineSafe, a combined waterproof plastic container, and koozie for wine or champagne bottles that come with a rubber cork was also introduced.
The agreement between Mark and Charles was completed in 2021.
SubSafe is now available at Wawa, Publix, Bed Bath & Beyond, and, of course, Amazon. The company’s annual revenue is $1 million.
Subsafe Net Worth
Subsafe, as of Feb 2021, was valued at $4 million.
There is no competition for this product.
Who founded SubSafe?
Desiree and Adam Haller founded Subsafe.
Where did the idea of SubSafe come from?
The idea of a sandwich container with a lid, two sides, and a bottom was born after Adam and Desiree went on a fishing outing and returned with soggy sandwiches.
What is SubSafe?
SubSafe is basically a waterproof container for phones, sandwiches, wallets, and keys.
How much is SubSafe worth now?
It is currently valued at more than $4 million.
Did SubSafe get a deal on Shark Tank?
Shark Tank Deal: SubSafe Accepts $100,000 for 25%equity from Charles Barkley and Mark Cuban.
Who owns sub safe?
The inventors of SubSafe are Adam Haller and Desiree Haller of Port Orange, Florida.
Where are SubSafe made?
It the made in Port Orange, Florida.
Is SubSafe waterproof?
Yes! SubSafe is watertight. When the ice in the cooler melts, we got you covered.
Is SubSafe BPA FREE?
Yes! It is made from Polypropylene plastic, the same plastic used to make baby bottles.
Will my sandwich get soggy?
We like to operate under the common sense rule of thumb here.
If you load your sub down with vegetables and condiments, it won’t matter what you do, and it’s going to get soggy.
For this reason, we suggest getting vegetables and condiments on the side.
Will my sandwich get crushed while in the container?
No! SubSafe is made of thick quality plastic that won’t bend under pressure. Go ahead and throw that case of beer in the cooler too.
Does SubSafe float?
Yes! In the tragic event that your SubSafe goes man overboard, it will float until you can return it to safety inside the boat.
When will I use my SubSafe?
Boating, tailgating, beach camping, hunting, picnics, NASCAR races, concerts, etc.
Can I use my SubSafe as dry storage?
Yes! After you have finished your sub, load it up with everything you don’t want to get wet., keys, tickets to the game or race, etc.
Does one SubSafe accommodate both a 6″ and 12″ sub?
Yes! We engineered SubSafe to work for both sandwich sizes. This also allows you to eat half now, half later.