What Exactly Is Draft Top?
The Draft Top is a device that allows customers to unscrew the lid of a can and drink directly from the aperture without leaving any sharp edges. Armand Ferranti and Sean Kelly, co-founders, were motivated to create the gadget by their passion for producing things.
The two have a lengthy history of turning ordinary objects into something more useful, and they eventually introduced the draught top, which changes the way a traditional beer can is utilized. The top of the can is detachable, allowing it to be held like a cup.
The best aspect about the product is that when you take a gulp, you won’t taste any metal. According to the company’s website, the motto is “Drink Topless” because of the way the Draft Top operates. Customers may easily add limes, oranges, or whatever else they like while drinking, and the experience needs a pure flavor of the beer.
The two started a Kickstarter campaign with the intention of generating $75,000, but the campaign was fully funded in just 36 hours, indicating the product’s potential.
Armand Ferranti and Sean Kelly, the co-founders of the company, began a Kickstarter campaign with the intention of generating $75,000, but they were fully funded in just 36 hours, indicating the product’s potential.
As they acquired two more partners, Patrick Parizo and Alex Caracappa, the design was altered several times throughout the years. The project received roughly $600,000 in fundraising on Kickstarter. Patrick and Armand both made an appearance on the shark tank, seeking $300,000 in exchange for a 10% stake in Draft Top.
They wished to work with a Shark who could also guide them. A new Draft Top may be obtained on Amazon for $25.
Quick Facts on Product:
|Entrepreneur||David Mc Donald and Phil Petracca|
|Product||Dispensers that Utilize Sound Waves Produce Better Tasting Beer.|
|Investment Asking For||$500,000 for 4% Equity in Fizzics|
|Final Deal||$2,000,000 for 4% Equity in Fizzics|
|Shark||Lori Greiner and Mark Cuban|
|Episode||Season 8 Episode 1|
|Business Status||In Business|
Draft Top After Shark Tank:
Draft Top made an appearance on Season 12 of Shark Tank and made a deal with Daymond John. Patrick Parizo and Armand Ferranti came to the shark tank event looking for a $300,000 investment in exchange for a 10% stake in their company.
Because they are developing at such a quick rate, the owners say they need financial assistance to keep up with inventories. They stated that product sales had outpaced manufacturing, claiming that $1.6 million in Draft Tops had been sold in just eight months.
The Sharks were unsure about the value until they saw the product’s sales and profit margins. At the time of the pitch, a Draft Top retails for $24.99 and costs $4.13 to make. Finally, Daymond decided to contribute $300,000 in exchange for a 20% ownership in the company.
According to the website, the Draft Top Tool has partnered with NASCAR. The product will be shown during the NASCAR Playoffs Weekend in October 2020, which will be telecast on NBC.
Summary of Draft Top:
The Draft Top is the world’s first topless can opener, completely patented and handmade to be the perfect one-handed can opener. The company’s founders and proprietors are Patrick Parizo and Armand Ferranti. They’re used to swiftly and conveniently remove the top of an aluminum can.
On Shark Tank Season 12 Episode 13, Patrick Parizo and Armand Ferranti gave the final pitch. The founders approached a shark tank and asked for the financing of $300,000 in exchange for 10% equity. Finally, Daymond John agreed to sell a 20 percent equity holding for $300,000.
After Shark Tank, What Happened to Fizzics?
Mark and Lori Agreed to The Transaction for $2,000,000, Representing a 16 Percent Rise in Fizzics’ Worth. They All Shook Their Heads, and The Business Owners Walked Away with Smug Grins on Their Faces. Since Their Programme Aired, Fizzics Have Surfaced on A Variety of Selling Sites.
They Created the Way Tap, a Smaller Machine that Only Accepts Cans and 12-Ounce Bottles as Feedstock. The Smaller Version Is Available on Qvc for Just $99, Which Is $100 Cheaper than The Larger Version. in Addition, the Smaller Form Is More Portable.
Fizzics Has Met Its Target of Increasing the Number of Selling Channels. Target, Best Buy, Brookstone, Amazon, and A Number of Other Retailers, as well as Bed, Bath & Beyond, Currently Carry Them.
The Aforementioned Items Have Been Reviewed by A Number of Well-Known Magazines and Websites, Including Yahoo! Tech and C Net. The Fizzics Beer-Making Machine Has Been Dubbed “Nothing Short of A Miracle.” It’s Not Terrible for Two Jersey Shore Dudes. Is Fizzics Still in Operation?
Fizzics Has Launched the Waytap Gadget, Which Is “cheaper, Smaller, and Easier to Use” and Just Won the Fast Company Innovation by Design Challenge. According to Fizzics, “thanks to An Investment from Frog Ventures, the Firm Has an Interesting Pipeline of Consumer Goods Under Development.”
Fizzics’ Next-Generation Fizzics, the Way Tap, Are Now Available Online and At Major Retailers Such as Best Buy, Target, Brookstone, and Others.
After Shark Tank, What Happened to Fizzics?
The Way Tap, a Smaller and Less Expensive Alternative to The Fizzics, Is Available. It Can Only Be Used on Cans and Bottles with A Capacity of 12 Ounces or Less. Fizzics Also Collaborated with The Sharks and Successfully Funded $1 Million on Kickstarter to Bring the Product to Market.
According to The Firm, Fizzics Also Works with Craft Breweries to Install Its Commercial Tap Systems on Their Facilities.