Hydroviv is a customized water filter business that aims to purify people from ingesting any harmful or toxic chemicals along with their drinking water. The business was conceived when Eric Roy, a PhD chemist from Washington DC, witnessed the drinking water crisis in Flint, Michigan, unfold before him. Millions of people were affected by high levels of lead in Flint’s drinking water, which led to deaths and even developmental disorders among the population. Roy immediately saw the need and set up a plant to produce customized filters with lead filtering media. Roy then realized that due to high levels of drinking water pollutants in American cities, there was a need for customized filters that were prepared especially for the composition of the drinking water of that area. Hydroviv was thus created to help people drink water safely.
Hydroviv was created in response to a major crisis; therefore, the business is designed to meet an essential need of the population. As authorities continue to run away from responsibility, there’s a pressing need to ensure safe drinking water in certain places. Hydroviv’s customized filters stand out from other one size fits all as they create the filter specifically to tackle the pollutant that the water has in abundance. This also resonated with the people as Hydroviv witnessed a sharp rise in demand after its Shark Tank appearance. The business continues to make drinking water safe to this day and brings in an estimated $2 million in revenue a year.
How Did The Shark Tank Pitch Go?
Eric Roy walked confidently into his Shark Tank pitch to convince the Sharks to invest in his water filter business. The Sharks looked intrigued, looking at the filtration set up on the stage. Roy asked for $400,000 for 10% of his company.
Roy kicked off his pitch by introducing the Sharks to the major problem with all the current water filter options on the market. These companies design the same filter for every area, despite it being a known fact that water has a different composition in different places. Some areas might have more arsenic in their water, while others might have lead. Filters need to be specifically designed to contain the media that releases pollutants. Hydroviv set itself apart from these companies by introducing customized filters. The filters account for the specific contaminants found in the local water supply of a place.
Roy explained that his team of “water nerds” obtain a sample of drinking water once they receive an order from an area. Then they test the water to find out its composition. After figuring out the composition of the contaminants, the company designs a filter that leaves behind only the good chemicals in the water, such as calcium, fluoride, etc. Roy’s succinct explanation impressed the Sharks, and they could see how there was a need for such a product.
Guest Shark Rohan Oza wanted to know how the product would be useful for the Flint crisis as Roy was handing out samples of his product. Roy replied that his business came into being just after the Flint crisis hit the news, and he decided to design filters with media that filtered out lead and donate it to the people in Flint. The Sharks were impressed by the charitable roots of the business. Lori Greiner wanted to know whether commonly used filters like Britta would filter out the mentioned contaminants. Roy replied that common filters do not filter out the most harmful contaminants.
Kevin O’Leary wanted to know about the sales, and Roy replied that he had done $300,000 in sales and was projected to do $1.7 million in sales next year. The Sharks were impressed by the sales and profit margins. Roy was then asked what he was going to do with a Shark’s money, and he replied that he wanted to use it on ads and marketing. Roy was not able to deliver a concrete plan for advertising and reaching his target audience, which made the Sharks skeptical.
Both Oza and Greiner backed out of negotiation due to their perception that the business lacked focus when it came to marketing. Mark Cuban was impressed by the business as he felt that it had the potential to do lots of good in society. However, he was less than impressed by Roy’s approach to marketing, because he believed that he did not have a clear idea of what he was doing. Cuban put forth an offer of $400,000 for 20% of the company.
Barbara Corcoran told Roy that his approach toward marketing could not let her invest because she felt it was a sign that the entrepreneur did not know what he was doing. She also declined to make an offer. Roy tried to explain his position to Corcoran, but Cuban reiterated that he was the one who had offered a deal. After some contemplation, Roy took the deal, and both men shook hands to seal their deal.
Our Review of Hydroviv
Hydroviv is a product that is a direct response to a major crisis faced by many American cities and towns. The presence of contaminants in drinking water is alarming, and an indictment of authorities’ inaction. Hydroviv is an example of entrepreneurship being used to transform society for the betterment of people. The product has many advantages, but the company can still continue to improve and provide an even better drinking water experience for its customers.
Pros of Hydroviv
- Filters are customized according to the contaminants found in a sample of drinking water from the local area.
- Shipping is free
- Easy to install
- Available in three different types
Cons of Hydroviv
- Filters have to be replaced every two months; therefore, it isn’t affordable for everyone
- Orders can take some time to arrive
- Not available in retail
Who Is It For?
Hydroviv can be used by anyone who wants to make their drinking water safe for consumption. However, most of its demand lies in the areas that have notorious bad quality of drinking water available in their taps. The Flint story has made most people vigilant; therefore, people now take an interest in the composition of their tap water and invest in filtration solutions like Hydroviv.
Are There Any Alternatives?
A customized filtration system is unique to Hydroviv, and there is a like-for-like alternative for the product on the market.
Final Thoughts
Hydroviv is an excellent example of entrepreneurship being used to provide solutions to a crisis. It also highlights the massive issue where the work of governments and higher authorities is being carried out by determined individuals who are building their businesses to build a better, more safe society.
