Shark Tank Contestant Using “Crowd Funding” Technique

Gary Gagnon founder of REMYXX recently appeared on the final episode of Season 3 of Shark Tank. He received a verbal offer from Shark Daymond which has since been put on hold.  In the meantime, Gary is using a “Crowd Funding” technique using the Kickstarter platform. This approach allows an entrepreneur to raise a relatively small amount of money from many people. In return, the entrepreneur “rewards” his/her investors with products/services…..in this case, with recyclable sneakers.  

I caught up with Gary and asked him a couple of questions about his Shark Tank experience…….

Q. What was it like appearing on Shark Tank?

A.  Appearing on Shark Tank was fantastic!! Not fantastic in the sense, ohhhh look at me, but in the fact that I actually, finally aired was a big relief. Having taped with ABC back in September 2011, where the staff always said, “there is no guarantee” you will get on, it was very nice to make the final cut. It was a great experience with the tryouts, preparation, filming at the studio, working angles for follow up, and then finally watching myself with my wife and two boys in my home quietly. On all points, I was able to learn a few extra things about myself, my business, and make some solid friends along the way, including Daymond John.

 

Q. Have you experienced any business benefits yet as a result of your deal with Daymond?

Understanding that establishing my business is a slow-grind, I am realizing a huge benefit in partnering with Daymond. The meetings and strategizing with Daymond and his Shark Branding Team  have been invaluable. At the start, together we broke down the value proposition of REMYXX talking about our go-to-market strategy, the industry, contacts, and such. Daymond had lots of insight, good advice, and a vision of what he wanted to do and understood what I was going to do. Now, today, still with much work ahead, while no deal has been finalized, I continue to talk with Daymond as I fight to prove that REMYXX is a viable product with real consumer interest. Bottom line, as I am running a live project on Kickstarter http://www.kickstarter.com/projects/691761471/remyxx-cool-sneakers-100-recyclable, I must sell some sneakers to move forward. All said, with 900+ new “likes” and 100’s of flattering emails, I am feeling pretty good that REMYXX is a product and brand that the people/consumers are ready to support once in the marketplace. As the Shark Tank world has seen, “I am crazy-with-a-kick” like David against Goliath with my sling-shot loaded and aimed at the big sneaker giants to make REMYXX a legitimate family business now and for a second generation.

Note: So far Gary has raised almost $32,000 from 350 backers. Click on the link above to see the Kickstarter platform. Good luck, Gary!

 

 

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About Shark Tank Ratings

Author of "Unlocking Your Entrpreneurial Potential: Marketing, Money, and Management Strategies for the Self-Funded Entrepreneur"
This entry was posted in business startup, Crowd Funding, Daymond John, Shark Tank, start-up, Venture Capital and tagged , , , , , . Bookmark the permalink.

One Response to Shark Tank Contestant Using “Crowd Funding” Technique

  1. Tim, good article and interview. Everyone in Charlotte is pulling for Gary and REMYXX!

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