When first-time parents travel with their small children, they often face frustration because managing small children and carrying luggage is not easy. To solve this problem, Darryl Lenz and Randy Lenz created Ride-On Carry-On, which converts wheel luggage into a carrier for children aged 8 months to 5 years.
Darryl is a flight attendant, and Randy Lenz is her husband. They both came to Shark Tank hoping for an investment in their business. Did the Sharks invest in their business? Let’s find out.
| Company Name | Ride-On Carry-On | |
| Founder/Co-Founder | Darryl Lenz and Randy Lenz | |
| Founded | 2000 | |
| Product | Wheel luggage | |
| Asked For | $50k for 25% equity | |
| Final Deal | $50k for 25% equity | |
| Shark | Barbara Corcoran | |
| Episode | S2 E4 | |
| Air Date | April 8th, 2011 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Peachtree City, Georgia, United States | |
| Lifetime Sales | $5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Darryl and her husband Randy demonstrated their product to the Sharks, explaining that it includes a children’s carry luggage with a headrest that converts into a tray table. Darryl mentioned that they have sold thousands of products online but need the Sharks’ help to launch the product in the retail market.
Last year, they sold 2,000 children’s carry chairs, which cost $7 to make and sell for $39.95, resulting in a huge profit margin. They have no debt and are seeking a $50,000 investment to increase product awareness by optimizing their website and educating people.
They currently have zero inventory and 2,000 pending orders. Jeff Foxworthy, an American actor and a new Shark on Shark Tank, said he is not interested in this business, so he is out.
Robert Herjavec said this is a licensing idea and doesn’t need investment, so he is out. Barbara Corcoran offered $50,000 for 25% equity and help with marketing. Kevin O’Leary offered $50,000 for 20% equity, but Darryl and Randy would need to focus on licensing deals.
Daymond John said Barbara’s deal is much better compared to Kevin’s, so he is out.
Darryl said they would accept Barbara’s offer, so the deal was finalized.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jeff Foxworthy | No Offer |
| Kevin O’Leary | $50k for 20% equity of the license |
| Robert Herjavec | No Offer |
| Barbara Corcoran | $50k for 25% equity |
| Daymond John | $75k + 7% royalty for 50% equity (Kevin) |
| Founder’s (Countered) | No Counter |
| Final Deals | $50k for 25% equity |
Ride-On Carry-On Shark Tank Update
After making a deal with Barbara, Darryl and Randy slowly started climbing the ladder of success. Their business segment featured on Shark Tank Season 3 Episode 6 revealed that Ride-on Carry-on products were now available in major retailers across the United States. Barbara made substantial profits from this deal, marking it as one of Shark Tank’s successful ventures.
In 2019, they entered into a licensing deal with Think King, a wheelchair travel accessories manufacturing company.
After this deal, Think King listed Ride-On Carry-On products on their official website. During research on Ride-On Carry-On, it was discovered that the company’s products have been phased out of the market and the business is nearing closure.
Check out Shark Tank Season 2 Business Update.
If you want more updates on the businesses that appeared in Season 2, visit here.
