Yono Clip Entrepreneurs Impress Daymond John on Shark Tank

This article is a summary of the YouTube video ‘Shark Tank US | Yono Clip Entrepreneurs Impress Daymond John’ by Sony Pictures Television

Written by: Recapz Bot

Written by: Recapz Bot

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How does it work?
The Yono Clip is a device for hanging personal belongings that can attach to various surfaces, provide stability, and be used in multiple settings, and the inventors have successfully secured a deal with Damon John.

Key Insights

  • The inventors are presenting a device called the Yono Clip.
  • The Yono Clip is designed to hang personal belongings in various places, avoiding germs and dirt.
  • It can be attached to flat, non-porous surfaces and has a suction cup for stability.
  • The inventors highlight its usefulness in the gym, restaurants, restrooms, airports, and diaper changing stations.
  • They demonstrate that the Yono Clip can be used on vertical, horizontal, or diagonal surfaces.
  • The inventors explain their background in science education and their passion for inspiring children.
  • They have just started selling the product and have raised $14,500 in two months.
  • The current cost to produce the Yono Clip is $10, but they want to reduce it to $5 by using molds instead of 3D printing.
  • The sharks express concerns about market competitiveness and the lack of immediate need or awareness for the product.
  • One shark offers advice on finding cheaper manufacturing options, but decides not to invest.
  • Another shark points out the challenges of scaling the business and offers $150,000 for 30% equity.
  • The inventors counter with 20% equity, but agree to the original offer of 30%.
  • They celebrate their deal with Damon John and express excitement for the partnership.

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Transcript

First into the tank is a simple device that everyone can use. Hey, Sharks. My name is Michael Green. And I’m Bob Mackie. We’re from Atlanta, Georgia, and we’re the inventors of the Yono Clip. And in exchange for 15% of our company, we’re here seeking $150,000.

Okay, Sharks. Here we go. You’re at the gym. You’re about to get on the elliptical or on the spin bike. But then you realize you don’t want to lay your towel or your purse or your gym bag on the floor.

Why not, Michael?

Too many germs and dirt.

Restaurant or the coffee shop? You’re not going to just lay your purse or your baby’s diaper bag or your laptop bag down on the floor.

Why not, Michael?

Too many germs and dirt.

Public restrooms. Incredible germs and dirt.

The airport. International germs and dirt.

Diaper changing stations. Smelly germs and dirt.

Michael’s house. There’s a few germs and dirt.

In fact, Sharks, we believe there’s only one way to avoid germs and dirt, and that’s the Yono Clip. And it’s time to Yono.

And with the Yono Clip, it’s as simple as press, pull, hand. Simply take the Yono Clip, attach it to any flat, non-porous surface, pull back the center lever to increase the suction, and then you just take your things and hang it on the center lever on the carabiner clip. And then you Yono. Get it. That’s a nice bag, but, brother, those moves. Do them again. And then you Yono. Get it. Get it, Sharks. Let me see you Yono.

And then you Yono. And then you Yono. There you go. That’s what I’m talking about. And with the Yono Clip, it doesn’t matter if the surface is vertical, horizontal, or diagonal. You simply press, pull, and hang. Attach it almost anywhere. Take it almost everywhere. Especially in the age of COVID-19, this compact, inexpensive, portable device keeps your possessions close by, off the floor, and free from germs and dirt.

Okay, Sharks. There’s only one question left. Who wants to Yono?

Y’all need a stand-up routine. I like that, man. So now, this, you said, goes on to any non-porous surface. So let’s talk about that.

Metal.

Metal.

Glass.

Glass.

Plastic.

What won’t it work on?

It won’t work on brick.

Painted surfaces.

It won’t work on brick.

Brick.

So one is this is very tacky and sticky.

Yes.

So when you pull this out, right?

Yes.

It causes a suction.

Yes.

Backdraft. And also, I think it’ll really help if we show the video.

Yeah, go to the video. Go to the video. Yono promo.

And one of the greatest things about the product is it attaches, like I said, to a vertical, horizontal, or diagonal surface. A lot of people look at the product and think of a purse hook on steroids. But when you think about a purse hook, it only works on this level of the surface here.

Right.

It won’t work under here. It’ll never work vertically. And with the Yono clip, you can attach it almost anywhere.

I’m just curious. Why didn’t you make a little bit more of a curve on it or a double side to then post on things like this? I mean, maybe that’s rendition too.

Well, in that position, you can actually hang it from the carabiner clip. So if it’s upside down.

Oh!

Yeah, there you go. We’re not playing around. You thought of that already.

We’re bringing the heat.

Oh, that’s what I’m talking about. You about to be rich. We can be rich together. We can be rich together.

Well, let’s talk about you guys, right?

Yes, yes, yes. Bob and I actually met 10 years ago at STEM Fest, which is a youth technology summit. And ever since that time, we’ve been great friends. I personally own a company called Science for Everyone. I present interactive science shows at schools and other venues all across the country.

What kind of science shows?

It’s physical science, earth science. And for me personally, the Yono clip is so much more than a product. It’s like a lighthouse.

Right, because you can demonstrate the science behind it and everything.

Absolutely. Every day, I encourage children to be the best version of themselves. And I use science as the medium to do that.

And so, Bob, what about you?

Yeah, so the reason why I was at the actual STEM Fest is I was a speaker. Many of the kids are disadvantaged youth. And I grew up as a disadvantaged youth. My high school dropout, I had to help provide means in the home. And then eventually, I went back, obtained my GED, and went to a four-year college. I became president of Boys and Girls Clubs of North Central Georgia. And that was a huge accomplishment for me. I wanted to be that person that I never had.

Good for you. Good for both of you guys for what you do.

Thank you.

Thank you.

And we became pretty good friends. And it’s so hard to find good people. And I said, if we ever do anything business-wise, I wanted to make sure somebody that I can believe in, somebody that I can count on, and somebody who doesn’t mind putting their feet in the mud to make something happen.

You said that exactly how I wrote it. Terrible. That’s great.

Let’s talk sales. So, regarding sales, we’re a fairly new company. Within two months, our sales are right at $14,500.

Two months old?

Two months.

You’re a brave man.

Yes.

How much did it cost you to develop the R&D on this?

We actually launched a Kickstarter campaign, and we raised $10,000 in a day. And the $14,000 in sales you talked about, $10,000 of it was Kickstarter?

Correct.

And the other $4,000 came from where?

On our website. And then also at the gym.

Guys, what do you sell them for, and what does it cost you to make?

Right now, we’re making them in our homes, in the garage. They’re 3D printed, and they cost retail $20. It costs us $10 to make them.

Well, that’s still

This article is a summary of the YouTube video ‘Shark Tank US | Yono Clip Entrepreneurs Impress Daymond John’ by Sony Pictures Television