The Success Story Of Plate Topper On Shark Tank

Introduction

Shark Tank is an American reality TV show where aspiring entrepreneurs pitch their business ideas to a panel of investors, known as sharks. One such successful product that was pitched on the show is the Plate Topper. In this article, we will take a closer look at the Plate Topper and how it became a success after appearing on Shark Tank.

What is Plate Topper?

Plate Topper is a food storage container that can be placed on top of a plate to keep the food fresh. It is made of BPA-free plastic and has a silicone suction to create an airtight seal. The Plate Topper is microwave and dishwasher safe, making it easy to use and clean.

The Journey of Plate Topper on Shark Tank

The Plate Topper was pitched on Shark Tank in 2013 by Michael Tseng and his daughter, Mardie. They asked for a $90,000 investment in exchange for 5% equity in their business. The sharks were impressed with the product and its potential, and eventually, Lori Greiner offered $90,000 for 8% equity.

The Impact of Shark Tank on Plate Topper

After appearing on Shark Tank, Plate Topper’s sales skyrocketed. The episode aired on December 6, 2013, and within a week, they had sold over 1 million units. The exposure that the show provided helped the Plate Topper become a household name, and it is now available in major retailers such as Walmart and Bed Bath & Beyond.

Why Plate Topper Became So Popular?

Convenience

The Plate Topper provides a convenient way to store leftovers without having to transfer them to a separate container. It also eliminates the need for plastic wrap or aluminum foil, making it an eco-friendly option.

Cost-Effective

The Plate Topper is a cost-effective option for food storage. It is reusable and eliminates the need for disposable containers and plastic wrap. This makes it a great investment in the long run, as it can save money on food storage costs.

Durability

The Plate Topper is made of durable materials that can withstand frequent use. It is also dishwasher safe, making it easy to clean and maintain.

Appeal to a Wide Audience

The Plate Topper’s appeal stretches beyond just busy families. It is also popular among college students, seniors, and individuals with disabilities. Its versatility and ease of use make it a great option for anyone looking for a convenient food storage solution.

Plate Topper’s Impact on the Industry

Innovation

The Plate Topper is an innovative product that has revolutionized the food storage industry. Its unique design and functionality have set it apart from traditional food storage containers.

Competition

The success of the Plate Topper has led to an increase in competition in the food storage industry. Several companies have tried to replicate its design and functionality, but Plate Topper remains the market leader.

Consumer Awareness

The Plate Topper’s appearance on Shark Tank helped raise consumer awareness about the importance of eco-friendly food storage solutions. It has also inspired other entrepreneurs to come up with innovative products that are environmentally friendly.

Conclusion

In conclusion, the Plate Topper’s success story on Shark Tank is a testament to the power of innovation and entrepreneurship. Its unique design and functionality have set it apart from traditional food storage containers, and its success has inspired other entrepreneurs to come up with innovative products. The Plate Topper is a cost-effective, convenient, and eco-friendly option for anyone looking for a food storage solution, and its impact on the industry is undeniable.