Most golfers always carry their favorite beverages in an Icebox, but it’s not practically portable. To solve this, Melissa Fossey and Ben Fossey invented Caddyswag, a golf bag cooler.
This golf bag cooler can carry 6 cans without needing ice in the bag because it has strips of gel freezer packs that help keep the cans cold.
Melissa and Ben appeared on Shark Tank Season 2 seeking investment for their business. Did any of the Sharks invest in their business? Let’s find out.
| Company Name | Caddyswag | |
| Founder/Co-Founder | Melissa Fossey and Ben Fossey | |
| Founded | 2006 | |
| Product | golf bag cooler | |
| Asked For | $60k for 20% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S2 E5 | |
| Air Date | April 15th, 2011 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Minneapolis, Minnesota, United States | |
| Lifetime Worth (Sales) | $8M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Melissa asked the Sharks for $60k in exchange for 20% equity in their company. Ben demonstrated their product and explained how the golf bag cooler works, showing the Sharks its features and benefits.
Kevin O’Leary asked about their sales, to which Ben responded that their lifetime sales were only $15,000, achieved entirely through word of mouth.
Daymond John said he doesn’t have much knowledge about this industry, so he is out.
Robert Herjavec said that no golf course allows customers to bring their own beverages. Ben disagreed with him.
Kevin Harrington asked how Ben would use the $60k if he invested. Ben responded that the money would be used for manufacturing and advertising. The current selling price of the product is $19.99, and the manufacturing cost is $13.99.
Kevin Harrington felt that the product was not investable, so he is out. Robert Herjavec said that there is no need for the product, so he is out.
Barbara Corcoran said that while the product is needed in the market, it is currently a small business, so she is out.
Kevin O’Leary said that there is no need for the product, so he is out.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | $30k for 40% equity |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Caddyswag Shark Tank Update
After the episode aired, many golfers ordered the bag from Amazon and the official website, which boosted the company’s sales by 7x. However, this increase was only temporary and lasted only a few weeks.
Our research revealed that Caddyswag’s product is selling very well on Amazon with a 4.5-star rating, and the company is generating millions of dollars in revenue annually.
Caddyswag’s current worth is estimated to be around $15 million.
Check out Shark Tank Season 2 Business Update.
If you want more updates on the businesses that appeared in Season 2, visit here.
