In this exciting episode of Shark Tank, the founder of KidRunner, Will Warne, joined the show. The company specializes in designing unique lightweight strollers for kids.
They are all about making running easier and more enjoyable with your young one. You need to attach them to your waist, and they will allow you to run naturally and comfortably.
The entrepreneur walked into the show in Season 7, Episode 25, and presented his business model in front of sharks. The sharks involved were Lori Greiner, Mark Cuban, Robert Herjavec, Kevin O’Leary, and Barbara Corcoran.
Let’s see if the company can manage to get a deal. Did the entrepreneur impress the investors? If you want to know more about the outcomes, jump into the article and enjoy the whole scenario!
KidRunner Net Worth
Will Warne asked for a $500k investment in exchange for 20% equity in his company. This meant he valued his company at $2.5 million. He did not make a deal with any of the sharks. After the show aired, KidRunner saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of KidRunner is about $3.22 million.
KidRunner Shark Tank Update
Did the KidRunner get a deal on Shark Tank?
The company couldn’t reach an agreement on the show. The investors appreciated the innovative features of the KidRunner but are still waiting for someone to make an offer for the company.
| Shark(s) name | Offer | Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A | No |
| Lori Greiner | Out | N/A | N/A | No |
| Kevin O’Leary | Out | N/A | N/A | No |
| Robert Herjavec | Out | N/A | N/A | No |
| Mark Cuban | Out | N/A | N/A | No |
KidRunner and Its Products
It’s a company that makes special types of jogging strollers for kids. These products are cool and unique. You can keep your little ones with you while running and jogging. KidRunner allows you to run peacefully by ensuring the safety of your child.
This is a lightweight product that can easily be moved along the runner. KidRunner is an innovative approach to keeping parents active and making strong bonds with their kids simultaneously. The key feature of this product is its attachment system, which is an easy way to attach it to your waist. It highly prioritizes the comfort and safety of the child.
Founder and Backstory
Will Warne is the founder of KidRunner. He is from the United States and is a very passionate runner. His dedication to staying fit and healthy made him establish this company. As a parent, he wanted to spend quality time with his kids while jogging and running. So, he came up with the idea to replace the traditional strollers of kids with an innovative product that would be easy to carry. This special stroller provides a smooth and enjoyable running experience for parents and children.
Pitch and Initial Presentation
The founder made an entrance into the show and introduced himself. Max King, World Champion Runner, and Sophie joined him. The child was settled in the stroller, and Max entered the show while running with that attached stroller on his waist. They assisted the founder in presenting his business model. Will was seeking $500,000 for the equity of a 20% stake.
He said KidRunner is the first and only high-performance multi-terrain, hands-free joggers or stroller for the kids. Every year, new parents spend one billion dollars on strollers. He said parents end up with a highly awkward cart instead of getting freedom, increasing injury risk. But KidRunner can be the best solution for all these problems. It’s highly comfortable, safe, and potentially reduces injury.
Discussion on Pitch and Offers
When the presentation ended, Robert asked to give it a try. He is a runner and wanted to check and run with the attached sample product. He said he had never seen anything like this before. He used to run with his kids while pushing their stroller in front of him. He was impressed by the innovative type of stroller. Then, the entrepreneur took the child out of the stroller to show the sharks how it worked. Kevin said it’s an amazing product, but some parents do not run it.
They will need help finding this product useful. Robert also showed his concern. He said if he ran, he wouldn’t want to look at his child repeatedly to check if he was safe. To explain this, Will said they had met all the ASTM safety standards so the kid wouldn’t fall out. Robert inquired, how to get in that cram?
Will explained the reason without showing the method and said they have bolted the wheels in because it’s their go-to-market prototype. On this point, Lori said, so you are not selling it. The entrepreneur said it was a go-to-market investment opportunity, making investors laugh. To keep the discussion continuing, Lori asked about the cost. It’s three phases for $750. The sharks were surprised by the number. Then Mark inquired how much they put into it. The founder told them it was £73,000.
Barbara asked about how they had advanced orders for the product. Because they already had a signup list of over 1200 people who wanted this product to come up in the market. The company also started a Kickstarter campaign in which they built many products. They were seeking $100,000 and raised 6 to 7 thousand. Will wanted a KidRunner not to sponsor an ambassador athlete.
The founder said that for that reason, they had already set up an ambassador program and an online website. It took 3 years to complete the product, and it will launch in 5 days. They will ask for a 200 deposit once they launch their product. This point made the investors lose their interest in investing in the company.
Negotiation and Final Deal
At the end of the discussion, all the sharks were out when it came to making an offer for the KidRunner. They said the product needs to catch up on marketing shelves and how they could get their money back. Also, Lori found it an unengaging product for kids. The investors were concerned about the stability of the product, too. For all those reasons, sharks did not want to make a deal. So, the company still needs to secure a deal on the show.
Challenges and Motivations
As for the challenges, the founder had to overcome the technical and design issues of developing a new particular type of stroller. There was a need for surety to be safe and comfortable for both kids and parents. To Stand out for an unconventional product is always challenging.
Despite all these challenges, Will, founder of KidRunner, worked hard in making a product. His passion for running kept him motivated to overcome all the hurdles. He wanted to provide all the parents with active lifestyles. Due to his dedication, Will was able to bring a positive impact to people’s lives.
KidRunner Retail Availability
KidRunner is widely available on their official website for retail purchases. People can easily access this product through online platforms. They can get them simply by placing an order on the company’s official website.
As for potential impact, KidRunner has played a significant role in the overall health of both parents and kids. The unique design and innovative features of the product attract active parents. It ensures the security and comfort of a child when a parent is running. KidRunner is an enjoyable, cool product for kids compared to a traditional bulky stroller.
Conclusion
KidRunner failed to secure a deal on Shark Tank. The investors were not interested in investing in the company. However, the entrepreneur is still holding onto hope and is determined to see his business grow. He strongly believes that he can provide people with the most comfortable solution.
Hi. I’m Daniyal Durrani. A CA-finalist, CPA-UK, and Master in Economics, with a decade-long business studies experience. I work as an Audit and Business Advisory Manager in a globally recognized accounting firm. I have been watching Shark Tank for a long time and have always admired the innovative business ideas. The revolutionary solutions to unaddressed day-to-day problems presented on the show used to impress me like no other thing on TV. Read more About me.