Aqua Vault is an outdoor safe that lets you secure your products. It was introduced by Avin Samtani, Rob Peck, and Jonathan Kinas. They came up with the idea on the beach. Somebody stole their belongings, leaving them empty-handed. That’s when they realized how often this happens and that something should be done regarding this. These three college graduates came up with the idea for the Aqua Vault as a way to keep their belongings safe at the beach.
Wallet, phone, and other tiny goods, including keys and money, are at a risk when you are out beaching. These things can be safely stored in the lockable plastic case introduced by Aqua Vault. You need to install it on a pole or post with a diameter of up to two inches. A three-digit combination locks the lid. If you’re going to the pool or snack bar, you’ll need to secure your Aqua Vault to a bike, a rack, or even your chair. You will be provided racks that will keep your belonging secured.
The Aqua Vault retails for $22, with a portion of the revenues going to local markets. The founders of this handy accessory believe that beach-goers and vacationers around the world should trust their product blindly, as it can safeguard everything they might end up losing.
Now that we have established what the venture is all about, let’s see whether or not it was able to crack a deal with the sharks.
Avin, Rob, and Jonathan pitched their idea on Shark Tank in hopes of expanding their business. They proposed $75,000 for a 12% ownership in the business. There was a lot to learn about the Aqua Vault from these guys.
They said there had been only one small manufacturing run currently. The wholesale price is $22 for a product that costs them $10 to make. Mr. Wonderful claimed that Aqua Vault’s competitors had presented their business to him. He was interested in learning how Aqua Vault plans to compete with them.
The owners said that one of their primary focus areas was the hospitality industry. It includes both on-and off-island destinations. If they can secure a deal for an additional 1,000 units in their first year, they can expect to sell more than $100,000 in their first six months. According to Robert, they should offer the solution to hotels for free and then take a part of the recurring revenue. Many hotels are reluctant to open their books because they are new and untested products.
The owners want to maintain selling to hotels and offer the product as an in-room purchase so that customers can take it to the beach or the pool on their next vacations. Robert was impressed by the idea and was willing to invest $75,000 for a 25% stake. However, the boys weren’t so confident about Robert’s willingness. Therefore, they waited for other proposals.
Daymond wanted to know whether or not they had any other agreements except the motels they were currently staying in. They responded that the HSN bought only 200 of the 800 units they had ordered. A total of 250 units were sold online. That will sit well with the Sharks. They believed the numbers were too low. Robert resolved to leave as soon as he heard the sinking numbers
Inquiring about water parks, Daymond claimed to have a deal with HSN. He said they were unable to advertise their product effectively. He offered $75K for a 25% ownership if they gave him an answer immediately. Finally, the boys agreed, and the deal was signed.
In Season 9‘s episode 911, we learned something new about the company. They debuted the Flexsafe. An RFID blocker is included in this water and is stab-resistant safe to keep your credit cards. It has introduced a credit-card-sized charger and a water-resistant phone case. Hotels including Marriott, Disney, Margaritaville, and Universal Orlando have Aqua Vaults for visitors.
During the Covid-19 epidemic, they lost all of their hotel and travel-related earnings. Because of this, they came up with Charge Card, a credit-card-sized phone charger. They were able to make a successful transition. It is said that the company made total sales of $26.5 million in May of 2022.
Our Review of Aqua Vault
Most of us want to cool off in the ocean at the beach. But what is the typical result? We tend to worry about the stuff we left behind. A worrier is always there to ensure the safety of your assets. Leaving your wallet or phone in your backpack at the beach is against basic common sense. FlexSafe from Aquavault lets you do that without worrying about it excessively.
You can keep your keys, wallets, Kindles, and even jewelry safe with this handy device. It can be used for various purposes. If you plan to ride a bike, you can use it to store your keys, wallet, and phone. It’s hard for a parent to forget the days when their children were still in strollers. Now, they can rest assured that nothing is happening to the kids or their belongings.
When locked up, robbers will have a hard time prying open the FlexSafe because it is made of robust, slash-proof” material. It is also compatible with beach loungers, fishing boats, and golf carts. With the help of Shark Tank, this company has become an industry leader.
Pros
- The binding has been reinforced for sturdiness.
- You don’t have to be concerned about it getting wet because it’s water-resistant.
- It has reinforced cargo pockets with zippers.
- It has a three-digit combination lock that takes only a few seconds to program.
- Mesh pockets work well for storing things like sunscreen and bottled drinks.
Cons
- It needs to be protected from your pets.
- Easily opened with a knife.
- Many users complained about its credibility as a protected safe.
Who is it Best For?
This product is made explicitly for frequent beach-goers who want to take plenty of items. When diving in there, you might not pay much heed to the stuff left behind. It can easily be stolen. Therefore, you need a safe to keep everything secure while you have the time of your life on that beach. Aqua Vault is the way to go if you want something that can keep your wallets, keys, and credit cards safe.
Are There Any Alternatives?
Rei.com is one of the best alternatives to Aqua Vault. It has perfect ratings and can keep your items safe in a better way. It also offers free returns and exchanges for user convenience.
Our Final Thoughts
Aqua Vault lets you swim and dive in peace. You don’t have to be on the lookout for your belongings. The FlexSafe accessory will do it all for you.
