CordaRoy’s from Shark Tank

cordaroys shark tank

CordaRoy’s are convertible bean bag chairs that have a mattress inside. These bean bags have no pressure points as they do not have beans inside, which can eventually flatten a bean bag and make it less comfortable. Instead, the CordaRoy’s are made of polyurethane foam, a material that is also used in their couch cushions.

The CordaRoy’s are substantially more robust and feature an indigenous design that allows it to convert into a bed in just 20 seconds.

Byron Young started selling these one-of-a-kind bean bag chairs in 1998. He began this venture from his garage, where he made 5 CordaRoy’s daily. After he began establishing his business, he acquired a utility patent for his bean bag mattress concept.

CordaRoy’s covering is made of machine-washable, double-stitched corduroy, whereas the interior is made of an easily accessible polyester and cotton combination.

In terms of support and comfort, the sleepers may compete with an air bed and will always win. Besides all of that the CordaRoy’s offer a lifetime warranty, which means you do get your money’s worth with these comfortable and high-quality bean bag convertibles.

Is CordaRoy’s an Active Business?

Shark Tank had an instant beneficial impact on the company’s bottom line, bringing in $3 million in 2014. In 2018, the firm reached $10 million in net lifetime sales, and it now earns roughly $5 million each year.

The company also maintains a 90,000-square-foot manufacturing factory as well as an 8,000-square-foot showroom.

How Did the Shark Tank Pitch Go?

Byron Young appeared on episode 417 of Shark Tank with his patented idea of a convertible bean bag chair, wanting an investment of $200,000 for  a 20% stake. He began his pitch by associating lying on a CordaRoy’s with “sitting on a cloud.” He then demonstrated its two-in-one bed functionality, and also his product’s resilient foam, which is said to never fall flat. The double-stitched cover promises lifelong endurance.

Lori Greiner went on to test the comfort level of the bean bag, and she agreed that it was a comfortable and high-quality product.

Byron then mentioned how he started his business from a garage in 1998 and eventually had a store in the Mall of America.

Kevin asked Byron to justify his valuation, to which Byron responded that he acquired a utility patent for his idea of bean bags converting into mattresses. He also mentioned that he has successfully enforced this patent on larger firms. After hearing this, Kevin was impressed, but he still wanted more sales data.

All the Sharks went on to ask more questions, but when the facts and figures that Byron mentioned did not align with their plans for the product, most of them were out, leaving Lori in the end.

Lori made a thought-provoking offer of $200,000 in exchange for 60% of ownership, which meant that Byron had to give up control over his business. After a prolonged negotiation between Lori and Byron, both settled on a $200,000 investment in exchange for a 58% equity.

Our Review of CordaRoy’s

CordaRoy’s is a versatile product that offers both comfort and practicality. It can be a handy product if your household has frequent family sleepovers. It is a better and more comfortable alternative to sleeping on the couch.

When the beanbag is filled with the material, it can accommodate one adult or two children. The bag does not leave a large imprint, but if it is well-loved, it may need a little fluffing before use.

Some of the best features of this bean bag convertible are that it doesn’t fall flat, takes up less space, and comes with a lifetime warranty. The adaptability of the CordaRoy’s bean bag chair is unparalleled, and it is available in a range of colors and materials.

Pros and Cons of CordaRoy’s

However, some customers have complained about the assembly of the product. They say it is a hassle to take the bed out of the bean bag and then put it back inside. To counter that, the company does provide an instruction manual for assembling the mattress.All in all, it is a good, reliable, and practical product that anyone can use.

Pros of CordaRoy’s

  • The product is extremely easy to use. It can be used as a comfortable bean bag chair and mattress once unzipped.
  • As the company’s founder claims that sitting on CordaRoy is like sitting on a cloud, many customers agree with this claim. The CordaRoy’sare indeed extremely comfortable.
  • The CordaRoy’sare also washable. You just need to take the cover and throw it into a washing machine and dryer, making the product more practical for family use.
  • One of the best features of the product is that it comes with a lifetime warranty. If the product is damaged due to poor quality, the business will replace or repair it.

Cons of CordaRoy’s

  • There have been some complaints from customers about assembling the product. People have claimed that it is difficult to assemble the mattress that is inside the bean bag.
  • The product is slightly expensive. However, given it is a two-in-one item, the price point is justified.

Who is CordaRoy’s for?

CordaRoy’s is a family product. It can be used as an extra mattress at home or be placed in the kid’s room. It is also for people who have recently moved into a new apartment or dorm and are looking for practical furniture.

Are There Any Alternatives to Cordaroy’s?

Now that CordaRoy’s is a well-established company, it has many competitors like Jennifer Convertibles, Savoir Beds, and Taylor Furniture.

Our Final Thoughts

Since its introduction on Shark Tank, Cordaroy’s has dominated the beanbag industry. You may purchase them from various sources, including Amazon, Walmart, QVC, and CordaRoy’s website.

CordaRoy’s come in various sizes, designs, and materials, including chenille, leather, and corduroy.