The pitch for Noggin Boss was unique from those usually presented on Shark Tank. There is much to consider when it comes to Noggin Boss. The two entrepreneurs behind the company are using their expertise to create oversized hats to establish a business. It may seem like a weirdly childish project, but many people want to see the wonder element back in entrepreneurship, and Noggin Boss manages to do that with its products.
Gabe Cooper and Sean Starner started the fun, child-like product so that they could have something fun to wear on their heads. They launched the hats at the Phoenix Open. The place for huge hats is generally a sporting event. Hats and foam fingers are already all the rage in sporting events. Thus, this felt like the perfect place for Noggin Boss.
The duo launched the company in 2020, perhaps the worst year for team sports and big audience games. However, the Noggin Boss is still important as it represents what could be achieved when adults think like kids. The premise for sports is in tandem with the hats, so it only makes sense for the company to launch into sports.
The company is still active; however, the COVID-19 pandemic severely affected the sales and the marketability of the Noggin Boss as there were limited audience games.
Now that we know more about Noggin Boss, we’re going to look at Noggin Boss and how their Shark Tank pitch went. The duo entered the tank seeking 50,000 for 25% equity of their business. They started talking about the love that they had for the sport. They then procured their Noggin Bosses and showed them to their Sharks. They continued to talk about how the fans loved them on social media.
The company also talked about its sales. They stated that it had sold $30,000 in about four months. They also explained how COVID-19 had severely impacted their business. The pandemic forced the company to look inwards and understand how to do better. They had to call promotional companies and find other licensing opportunities to recuperate somehow and work on the matters plaguing the company. They want to ask the Sharks to help them how to navigate the licensing world. The giant hats cost the company $20 to make, and they go for $65. So that’s a $45 profit margin.
The entrepreneurs also talked about how they were trying to get into different sporting events such as the NFL and the NBA. There are a lot of manufacturing logistics that the company has to find a way through. All the sharks and the entrepreneurs are talking about the fact that the logos need embroidering. The hats aren’t patented either. Mark Cuban is the first to speak out, and he says that they would have a better time if they could sub-license it to a manufacturer that already has a hat license and can do the work from them for less.
Daymond then finally offers them $50,000 for 30%. Mark then said that if they continued with Daymond, he would pitch in with help in licensing. He said that he would license the Mavs logo, and he could also do a sales test in the Stadium. Lori takes this time to bow out of the sale. Daymond is more insistent than ever, and they take it.
Our Review of Noggin Boss
Many products walk into Shark Tank. There are pros and cons to all of them.
Pros of Noggin Boss
- They are fun. The hats are big and obnoxious, which makes them so obviously unique. They have a child-like wonder to them. They seem to be straight out of a fever dream that represents some childhood nostalgia.
- They are readily available. You can find these hats near any sporting game, where people generally go for outlandish hats.
- It has a solid premise. The premise makes it so that you can easily associate the hats with a football game or a team game and be content with it.
Cons of Noggin Boss
- The hats are expensive. The hats go for 65$, which is a lot of money to spend on a toy you’re not going to wear all the time. The price could limit the sales.
- They are specific. The avenue for these hats right now is limited to only sports. If the company went into costumes and other things, they could get better sales.
Who Is Noggin Boss For?
Noggin Boss is more everyone who wants to have a good time and represent their teams somehow. It is also a great vehicle of joy for adults who want to feel like children again. For many, watching sports and going to games is much more than an activity. It’s a natural feeling itself. Many people want to fact that childhood nostalgia that comes from watching sports. Many have made communities out of watching games together. It’s important to remember that Noggin Boss capitalized off this nostalgia and does a great job of doing so.
Are There Any Alternatives?
There aren’t many brands trying to replicate a vast hat that can get all over your head and make you look weird. However, there may be some individual sellers who can likely sell you a big head cap on Amazon or Etsy. However, that wouldn’t be the case in a commercial setting. The closest alternative we could come up with was the Big Head Caps company, making caps for people with big hats, so it’s more of a need than a fun activity.
Our Final Thoughts
The premise of the Noggin Boss is solid. We love the notion that goes into a product of this sort. However, we’re unsure if the whimsy is enough for it to be a product that will sell. The product is also fun and unique, which is why it could take up a fair amount of market share if necessary. However, the expenses associated with the product may cause the business to face difficulties.