The father-son duo, Jeff and Jack Danos, appeared on episode 2 of season 8 of Shark Tank with an exciting proposal for the Sharks. Jeff started the pitch with tall tales of his fishing talents but was soon shut down by his seventeen-year-old son, Jack. Jeff insisted that he was the “Fish Master” and that Jack didn’t know any better. The playful banter between the duo made the Sharks smile.
Dismissing his father’s claims, Jack stepped in to introduce the real Fish Master, TactiBite Fish Call. The invention was the pet project of fifteen-year-old Jack that had snowballed into a commercial success after they raised $112,573 on Kickstarter, surpassing their $100,000 goal. Jack was confident about his invention and had numbers to back up his case. Jeff jested that although the invention was effective for game fish, they were here to test if they could catch some Sharks.
What is TactiBite Fish Call?
TactiBite Fish Call is a “siren for fish” because of its ability to attract predators and game fish using in-built speakers. The high-tech device uses tactile transducers to produce the dog call alternative for fish. Once activated, it releases sounds and vibrations that reel interested prey in, making it easy for the anglers to fill their nets. TactiBite Fish Call comes with an anchor and anchor line, and weighs almost a pound.
The duo revealed that initially, Jack used a 3D printer to make TactiBite Fish Call, but now they have a manufacturer to lead their future production. They added that they sold TactiBite Fish Call a piece at $99.99 and were in the process of getting it patented. Jeff and Jack showed a video tutorial of how the product worked before handing out the samples. They requested a $150,000 investment for 10% equity stakes, and the Sharks were intrigued.
Upon some gentle probing from the Sharks, Jack revealed that they had made $330,000 in sales in the last five months. He sweetened the deal further by unveiling the impressive margins; TactiBite Fish Calls’ production cost was $16 for a $99.99 sell. The duo was expecting a $750,000 profit in the same year with a valuation of $1.5 million, which seemed fair to everyone. Jack explained that they had put a 5x multiple on their projected net profit to get this valuation. The Sharks were impressed by his business insight and couldn’t believe he was a teenager.
The entrepreneurs knew what they were doing; the numbers were great, and the business model looked solid. The Sharks were ready to bite.
Daymond made a strong case by telling the entrepreneurs that he knew the industry and would add value to the business, not just capital. Kevin and Daymond each offered $150,000 for 10% stakes. Mark stepped away from the deal, reasoning that the venture wasn’t for him.
Lori loved the product and shared that fish products are fodder for famous infomercials. She believed she could “blow up” TactiBite Fish Call with her infomercials. She offered $150,000 for 15%, and the duo looked disappointed. The father-son countered Lori with $200,000 for 15% stakes, but Lori held her ground.
As Jeff and Jack contemplated the offers and Kevin and Lori started to cavil, Robert offered the duo exactly what they were looking for: $150,000 for 10% stakes. After a long haggle with Kevin, Lori matched Robert’s offer begrudgingly, confident that she’ll close the deal.
The ball was in the entrepreneurs’ court, and the Sharks awaited their answer. After a short discussion, the duo closed the deal with Robert, which shocked Lori.
Jeff and Jack Danos left the stage with a confident spring in their stride.
Our Review of TactiBite Fish Call
TactiBite Fish Call was met with suspicion because what it offered sounded too good to be true. It is a light, portable, and easy-to-use product that makes an otherwise boring sport fun and rewarding. The product has the potential to revolutionize the fishing industry and facilitate the anglers by helping them catch more fish in less time. The year following their appearance on Shark Tank, the company raked in $2 million in sales, which was more than the estimated $750,000.
There are rumors that Jack and Jeff are now on their own after their deal with Robert fell through during the negotiations. However, we questioned the duo’s decision to accept Robert’s offer when he was the only Shark who didn’t back his offer with a plausible reason. They could have gone with Lori, whose infomercials were sure to create the hype a product of this caliber needed. Despite their fumble on the stage, the father-son duo is doing well in the market.
Pros of TactiBite Fish Call
- Come with an anchor and anchor line
Cons of TactiBite Fish Call
- No longer available on Amazon
- Available exclusively on Clever Training
Who is TactiBite Fish Call for?
TactiBite Fish Call is for anyone who fishes, for fun or business. The product has mixed reviews on Amazon though most users reported an increase in their catch. This portable product can help boost your catch in front of your friends and make your fishing trips worthwhile. Jeff Danos might have lied about being a Fish Master status, but his product sure can make you one!
Are There Any Alternatives?
The product has only one alternative, Omer Fish Caller, that uses a clicking sound instead of vibrations to attract fish. The product is fairly underrated as compared to the TactiBite Fish Caller.
Our Final Thoughts
Despite speculations that Robert has parted ways with TactiBite Fish Caller, we find Jeff and Jack are capable of holding the fort independently. The Sharks were right to commend Jack’s business foresight and his skills with numbers. Fishing is no more about luck and playing the waiting game; grab a TactiBite Fish Caller and be your own Fish Master! TactiBite Fish Caller is a useful product, and as long as the duo makes the right decision, their business has many more chances to make headway.