To the cheers of family, friends and business associates, Fort Worth start-up Supply, a men’s razor company, landed a $300,000 deal with Robert Herjavec on ABC’s Shark Tank, broadcast Sunday, Nov. 3.
Supply owners Patrick and Jennifer Coddou hooked the “Sharks” with their innovative single-edge razor design.
All the “Sharks” were highly complementary of the product and the pitch, which involved a comedian dressed as George Washington and mustaches, but it was Kevin O’Leary, AKA “Mr. Wonderful,” who first offered a royalty deal.
Herjavec quickly followed with a competitive offer of $300,000 for 15%, which the husband-and-wife team countered, but later accepted.
“It was a surreal experience for us just making an appearance on the show, but we couldn’t have been more pleased with the outcome,” said Patrick Coddou, founder and CEO of Supply.
“I knew we had shaped a brand that sets itself apart, not only because of the innovative razor design but also the kind of standard we hold ourselves to, and I’m glad that resonated with Robert and the rest of the Sharks,” he said.
Coddou, a former Lockheed engineer-turned-entrepreneur, launched Supply in 2015 out of his home on Fort Worth’s Near Southside.
He worked at Lockheed Martin for almost nine years, and said in an earlier interview that he had a blast there, working on a wide range of projects far away from the world of razors. His jobs ranged from the secretive Skunk Works division to the advanced F-35 Lightning II program.
It was during his time at Lockheed that Patrick met Jennifer. He is from Houston and is a University of Texas grad, and she’s from Lubbock and is a Texas A&M University alum. His career took him to Fort Worth and Jennifer taught math at the Young Women’s Leadership Academy, until she left to work at Supply.
The couple say they are creating what they call the world’s only modern stainless-steel injector razor, resurrecting a vintage design that dates to World War I. They call it the world’s most affordable stainless-steel single-edge razor at $75. Each razor comes with a 100-year guarantee.
The Coddous held a Shark Tank-watching party at Supply headquarters on Stanley Avenue, keeping their lips sealed as to whether they had a deal or not.
During the broadcast, Coddou said the company expects to have sales of $2.5 million this year.
Numbers like that were chum to the sales-hungry Sharks.
According to the company, by using a single blade, the Supply razor cuts hairs at skin level, compared to multi-blade razors that cut hairs under skin level, which causes irritation.
The company has since expanded to offer products that enhance the shaving experience, including men’s skincare, travel cases, dopp kits, marble shaving bowls, shaving cream, brushes, and other shaving accessories, as well as Supply merchandise.
Herjavec has been a regular Shark on the multi-Emmy Award-winning Shark Tank, which is now in its 11th season, and features self-made business tycoons who are on the hunt to invest in the best companies and products from across the nation.
Supply holds the title as the most popular single-edge razor in Kickstarter history, and raised more than $250,000 in 45 days.
Supply operated out of the Coddous’ home until they moved into the warehouse and office space earlier this year.