10 Shark Tank Ideas That Have Not Been Used

Shark Tank has been a prominent platform for innovative business ideas and revolutionary products to pitch in front of experienced investors. While we have seen hundreds of value-adding products since the start of the show, there have been products that are popular on the internet but never appeared on Shark Tank. 

In this article, I will list some innovative products that you will find online but never find on the show. These ideas might feature on the show in the future, so you better watch out.

However, you must know that the selling price and gross margins are based on estimates that involve making judgments. The real results might differ from my estimates, but the numbers used in this article have reasonable grounds for calculation. 

10 Shark Tank Ideas That Have Not Been Used

Eco-friendly Baby Diapers

eco friendly baby diapers

Products for infant hygiene have always been in demand, as parents never compromise on their child’s health. While every parent cares about their young ones, some parents prefer keeping the environment clean for the next generation.

Many diaper-based companies appeared on Shark Tank to conquer this segment. Kudos Diapers has by far been the eco-friendly diapers. However, Kudos Diapers were more hygiene-oriented than being environment-friendly and biodegradable. 

If an eco-friendly diaper brand ever appears on the show, a diaper would have a selling price of $0.5. However, it will have a low gross margin of 40% because diapers are fast-moving consumer goods. Moreover, the reduction in landfills and the hypoallergic effect are some common factors to advocate eco-friendly baby diapers on Shark Tank.

Portable Solar Chargers 

portable solar chargers 

Despite Grouphug Solar designing a window panel to convert nasty sunlight into electric energy, Shark Tank has yet to witness portable solar chargers. It is a possibility that we might see a foldable solar panel that converts and stores enough energy to recharge a mobile phone. 

Portable solar chargers would be a groundbreaking product for travelers across the world. Mountaineers or campers do not have the space in their backpacks to carry heavy panels or have access to power outlets. Moreover, solar products are eco-friendly irrespective of portability. 

The estimated selling price of a portable solar charger is $50 or under. Similar products are available on Amazon in the same price range. As solar products are considered durable goods, the company is expected to earn around 70% gross margins which will recoup the initial investment made to acquire the production plant.

Smart Pet Feeder 

smart pet feeder 

Smart Pet Feeders are taking the world by storm due to their convenient usage and superior technology. This product is controlled using a mobile app with portion control and feeding schedules. Though Shark Tank witnessed amazing pet products, including CatAmazing, a brand that provides an intersecting feeding method for cats. 

However, Smart Pet Feeder has been a miss on the largest fundraising platform. Smart Pet Feeder has a large target market of pet owners who have busy daily schedules. It ensures that the pet is fed on time and in the correct proportions. Moreover, it has a humidity control to prevent the pet food from spoiling. 

I estimate that if a Smart Pet Feeder brand pitched on Shark Tank, it would have had a selling price between $100 and $120. The profit margins would have been 60% to 70% because Smart Pet Feeders are consumer goods. Moreover, the manufacturer tries to cover his initial capital investment made in the manufacturing facility. 

Reusable Food Wraps

reusable food wraps

The food industry is the biggest and the most rewarding space for investors if they do everything the right way. The food industry is rewarding but it is mostly dependent on plastic packaging and wraps. However, reusable food wraps are the ideal substitute to make the food industry more eco-friendly. 

Despite being such a prominent issue, none of the contestants appeared on Shark Tank with a beeswax-coated cotton fabric to replace the traditional plastic wraps. Reusable food wraps are ideal for eco-friendly consumers and food chains who are ambitious to change the environmental landscape. 

If the reusable food wrap business ever appears on Shark Tank, I estimate its selling price to be $20 to $25 per roll (assuming the fabric is premium with a soft feel and neat designs). The profit margins will be between 40% to 50% because it is a consumer staple. Manufacturers of reusable food wraps do not target higher margins because the product is bought and used frequently. 

Smart Water Bottle

smart water bottle

We all remember LARQ, a premium water bottle that used ultraviolet rays to kill molds and bacteria. The owner had demanded investment at the highest valuation ever on Shark Tank. Despite being a germ-free product, LARQ bottles could not be termed smart water bottles. 

The smart water bottle segment has been one of the biggest in the fitness and healthcare market. Smart water bottles are stainless steel containers with handy features to ensure hydration. These bottles have a sip counter and they keep the water cold for the whole day. Mobile app integration is one of the best ways to monitor health goals. 

Smart water bottles are tailor-made for fitness enthusiasts who want to consume sufficient water to stay hydrated. Moreover, the use of these bottles can help reduce plastic waste. Considering premium smart water bottles online, I estimate that a similar product would have had a $60 to $70 price with a gross margin of 70%. The gross margin would be high because smart water bottles are durable goods.

Virtual Personal Assistant

virtual personal assistant

It is hard to believe that none of the entrepreneurs who appeared on Shark Tank introduced virtual personal assistants powered by AI.  Currently, virtual personal assistants are mainly freelancers but it is certain that IT companies will find a way to effectively integrate AI within the administrative function of organizations. 

The AI-powered virtual personal assistants can help employees plan their routine and schedule day-to-day tasks. The target market for this product is surely the busy managers who have a lot on their mind to deal with. 

Developing a virtual personal assistant is a heavy one-time investment that would cost at least $50,000. The product could be integrated against a nominal monthly subscription of $10 to $15. The virtual personal assistant, once developed, would have low variable costs. An IT company mostly spends its funds on hiring a developer team to fix bugs and improve the previous software version.

Electric Fireplace

electric fireplace

Fireplaces have been an integral part of American history. However, several companies have replaced the traditional fireplace with an electric fireplace. These fireplaces are smart, eco-friendly, durable, and safe for every user. 

No company has pitched electric fireplaces thus far on Shark Tank. An electric fireplace is tailor-made for people demanding eco-friendly transport and stylish interior design. The relevance exists but the selling price is too high.

An electric fireplace is available in the online stores for $450, considering you are buying a premium product. It costs around $120 to $150 to make with a gross margin of 70%. The high margins are understandable for a durable device that lasts long and requires a heavy investment to produce.

Smart Sports Equipment

smart sports equipment

Smart sports equipment is popular amongst the sportspersons preferring data-driven performance improvement. The equipment is integrated with sensors to track the performance when professional athletes and fitness freaks want an informative workout routine. 

Different smart sports equipment are available on the market including basketball, baseball, and football accessories. However, none of these have appeared on Shark Tank. The prices might range from $100 to $150 depending on the version of technology and the equipment type. 

If any smart sports equipment company appears on Shark Tank then it would have a 70% gross margin. Heavy gross margins are common in durable goods used in the long term. The investors usually target an early recoupment of investment made in the production cycle. 

Electric Scooter Rental Service

electric scooter rental service

Electric scooters are rapidly becoming the most eco-friendly and cost-beneficial form of transport. Not many can afford an electric scooter, so companies offer electric scooter services to let people benefit from the technology without purchasing an electric scooter. 

Despite being a sustainable business idea, no company has pitched it on Shark Tank. This app-based rental service involves companies either producing or purchasing electric scooters. Once purchased, the electric scooters are rented to people across the globe. 

The expected selling price of electric rental service is expected to be $0.3 per month. The margins would be around 70% at least, as maintenance is usually the only major expense. Electric scooter rental service is relevant for tourists, students, and urban commuters. It promotes eco-friendly and convenient transport. 

Electric Bike Conversion Kit

electric bike conversion kit

A bit different from the electric scooter rental service, electric bike conversion kits serve the same cause but differently. An electric bike conversion kit changes a regular bike to an electric scooter. These kits are ideal for cyclists and eco-friendly commuters. 

Despite the utility of electric bike conversion kits, none of the entrepreneurs appearing on the show presented them to the Sharks. A kit takes around $200 to make and usually has a selling price of $600. The margins are healthy in the electric bike conversion kit market. It is a cost-efficient and eco-friendly way to travel across the city. 

Conclusion

The businesses I mentioned on my list did not appear on Shark Tank until now. There were products that had been somewhat similar but lacked the distinctive features that the above-mentioned businesses have. 

The target markets of these businesses are vast enough to make them relevant for most users. However, the selling prices and profit margins are estimates based on the data collected from the leading manufacturers of these products. 

These products might never appear on the show, but they would have been successful due to high demand and popularity on the internet. If any of these products ever appear on Shark Tank, the financial figures might vary depending on the size of the business and the market share of the manufacturer.

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