What Exactly Are Goat Pet Products?
A company located in Bloomfield Hills, Michigan called GOAT Pet Goods has created a line of pet products that offer animals a “voice.” These devices have a tiny speaker that may be used to play music and voice through a smartphone that is attached to the pet’s collar (and, presumably, Bluetooth).
Under the collar, there are speakers that are covered in lovely rubber forms. There may be a “selfie button” on the collars that may be pressed to activate a smartphone and take a picture of the animal cuddling up to it.
Users using the companion software can pre-record messages for the animal to “talk.” The “G.O.A.T” in G.O.A.T. Pet Products stands for “Greatest of all time.” The businessman claims to have founded multiple additional pet businesses prior to founding G.O.A.T. The cost of each GOAT Pet Speaker is $44.95. As of October 2017, they are now accessible at every Petsmart in the United States and Canada.
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Who Is the GOAT Pet Products Founder?
The proprietor of G.O.A.T. Pet Products is Michelle Winowich. She spent many years as a branch and sales manager in the pet industry before founding the business in 2016, gaining valuable experience in the process.
She went on to say that while working as a manager at a pet store, she came up with the idea for the speaker. She eventually paired up with a member of her family and launched the company in 2016 after Her spouse urged her to keep it to herself.
What Happened to GOAT Pet Products at The Shark Tank Pitch?
With her dog disguised as Snow White, Michelle made an appearance on Shark Tank during episode 16 of season 9. She is seeking $499k for a 9% stake in her business. This equals a valuation of $5.54 million.
She delivers her lines and even plays some music through the dog’s neck-mounted speaker. She offers many GOAT Pet Speaker samples to the sharks, each of which features a different animal. She was at a pet expo when a Petsmart clerk caught her attention. They approached her and requested exclusivity for six months.
She has sold about 2 million pieces in the last six months. The sharks ask her how much the product costs, and she replies that each G.O.A.T. Pet Speaker costs $24.99. When Mark asks about production costs, she responds that they total less than $5 “with packing and everything.”
The sharks, who were taken aback by the large sum, eventually express their concern over the lack of sales data. She was specifically asked if she will receive payment for the G.O.A.T. Pet Speaker.
Mark claims he is the first Shark to leave because he despises the pet industry. Kevin tells her he is going shortly after that. Immediately stating that she is apprehensive to take part in such a risky endeavor, Lori also withdraws.
Daymond declares that he must receive a compelling offer before he will reconsider. Robert declares that he will make a lowball offer of $499,000 for 33.3 percent because he loves the speakers. He declines Michelle’s request for a 20 percent interest when she asks. After considerable thought, she decides to accept.
What Happened to Goat Pet Products After the Shark Tank Pitch?
The agreement with Robert was never fully fulfilled. Amazon keeps selling its products. She expanded her collection by acquiring several new items. She now offers shampoo and conditioner for organic dogs.
She also makes GOAT Milk Dog Treats, which are gluten-free, goat milk biscuits with a peanut butter flavor. A portion of the proceeds goes to help Americans with disabilities. The business started selling wholesale PPE and sanitizing wipes during the 2020 Covid-19 pandemic. As of December 2021, the business was still running and had annual revenue of about $1 million.
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What Is the Net Worth of GOAT Pet Products?
For a 9% ownership stake in her business, Michelle was asking $499,000. This equals a valuation of $5.54 million. Robert made a $499,000 offer for 33.3 percent ownership in the company, bringing the worth to $1.49 million. She accepted the offer. The Company has expanded, so the present valuation is higher than the one from the Show.
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