Millions of people visit ski resorts every year to enjoy skiing and snowboarding. However, most people miss out on fully enjoying the experience due to a lack of high-quality and reliable gear. That’s why Kelly McGee and Cristina Ashbaugh started Yardsale, an equipment company that sells magnetic and adjustable ski poles and other accessories with customizable designs.
They both appeared on Shark Tank Season 16 to seek investment from the Sharks and introduce their brand’s products on national TV. Let’s find out how successful their efforts were.
| Company Name | Yardsale | |
| Founder/Co-Founder | Kelly McGee and Cristina Ashbaugh | |
| Founded | July 2023 | |
| Product | Ski accessories brand | |
| Asked For | $200K for 10% Equity | |
| Final Deal | $250k for 10% equity and a royalty of $5 per unit sold until $300k | |
| Shark | Kendra Scott | |
| Episode | S16 E3 | |
| Air Date | Nov 1st, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | San Francisco, California, United States | |
| Annual (Revenue) | $300k *estimated | |
| Worth / Valuation | $2 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Former Apple Product Design Engineer Kelly McGee and Content Marketing professional Cristina Ashbaugh founded Yardsale because they both experienced issues with traditional ski poles. They found them clunky and noisy to carry, and the straps were often difficult to manage while wearing gloves.
Before starting his business, Kelly worked with several well-known companies, including Fanpics, MIT Media Lab, Moondance Adventures, and Apple. He was also a co-founding member of a medical device company called Moondance Adventures.
Cristina, on the other hand, has worked in content marketing for companies like Reflektive, Emergence Capital, Samsara, Inc., and more.
Business Pitch Episode Recap
Kelly McGee and Cristina Ashbaugh appeared on Shark Tank and asked the Sharks for $200,000 in exchange for 10% equity in their company. They demonstrated their ski accessory brand, Yardsale Ski Poles, during their presentation, highlighting its unique design and style.
The special feature of their product is its magnetic handle, and they also offer custom color design options for the ski poles.
The ski poles are available in three variants with different color options: the P1 Poles are priced at $149, the P2 Poles at $189, and the P1 Mini Poles at $149.
The average production cost per product is $30, with a landed cost of $42, resulting in an approximately 75% profit margin.
Currently, the product is sold on their online website, and 60% of their customers choose to buy custom-designed, colored poles. Additionally, the product is available in select offline stores.
In its first month, the company made $100,000 in sales. Year-to-date sales have reached $220,000, with a target of $300,000 by the end of 2024. For the next year, 2025, they plan to reach $2.1 million in sales.
To achieve these million-dollar annual sales, they will focus on both direct-to-consumer (D2C) and business-to-business (B2B) channels.
They already have plans in place to launch in retail stores like Decathlon, Backcountry, and others by next winter.
Lori Greiner noted that the brand name “Yardsale” doesn’t convey a premium feel, and since she isn’t a skier, she is out.
Daymond John said that he doesn’t like skiing, so he is out.
Mark Cuban said that he has never skied in his life and will never do it, so he is out.
Kelly offered Kevin O’Leary $200,000 for a 10% equity stake, along with a royalty of $3 per unit sold until the $200,000 is recouped. However, Kevin countered with an offer of $200,000 for a 20% equity stake in the company.
The business is now 6 months old and has a valuation of $2 million. Kendra Scott believes this valuation is high and offered $200,000 for a 20% equity stake, along with a royalty of $3 per unit sold until the $200,000 is paid off.
Kevin countered with an offer of $200,000 for 15% equity and a royalty of $3 per unit sold until $400,000 is paid. In response, Kelly countered both sharks with an offer of $200,000 for 8% equity and a royalty of $5 per unit sold until $300,000 is paid.
Kendra then countered, stating she wanted 10% equity instead of 8%. Kelly made another counteroffer to Kendra for $250,000 for 10% equity and a royalty of $5 per unit sold until $300,000 is paid, and this offer resulted in a deal with Kendra.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kendra Scott | $200k for 10% equity and a royalty of $5 per unit sold until $300k |
| Kevin O’Leary | $250k for 15% equity and a royalty of $3 per unit sold until $400k |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
| Lori Greiner | No Offer |
| Founder’s (Countered) | $250k for 10% equity and a royalty of $5 per unit sold until $300k |
| Final Deals | $250k for 10% equity and a royalty of $5 per unit sold until $300k |
Yardsale Shark Tank Update
According to Kelly and Cristina, their company is currently profitable and they aim to achieve over $2 million in annual sales by 2025.
After the episode aired, we visited the company’s website and noticed a significant increase in sales following their appearance on the show. The product has also received positive reviews online.
If you want to buy this brand’s ski poles, you can visit their official website to purchase custom-designed ski poles.
Here’s the updated list of businesses from Season 16 that have been shared. You can check it out!
