The NightCap Scrunchie is an exceptional outdoor defense solution. It’s not just another scrunchie, but it’s a unique variant that may be wrapped around a glass to keep your drink from being poisoned or tampered with [1].
On the hit show Shark Tank, budding entrepreneurs have the opportunity to pitch their business ideas to a panel of potential investors, or “sharks”. If the sharks like what they see, they may invest in the company. In the last season’s episode, we saw some interesting businesses get pitched – and some even got investments from the sharks!
The NightCap Pitch
The Benarde siblings are the creators of Night Cap. After learning about a friend who had been drugged while attending college, Shirah wanted to start a service that would help other students avoid such an experience. The Benardes’ siblings Shirah Benarde and Michael Benarde are the founders of Night Cap.
The NightCap is a simple but effective solution: it’s a scrunchie that can be wrapped around the stem of your drink glass to prevent tampering. The product is currently available in four colors: black, red, pink, and blue. The scrunchie is a simple yet genius idea: it’s a hair tie with a built-in LED light that can be used as a flashlight in case of an emergency.
The sharks were impressed by the product and its potential market. However, they were not sure if the sisters had what it takes to run a successful business.
On Shark Tank, the siblings pitched their business to the sharks and asked for an investment of $100,000 in exchange for 20% equity. Although some of the sharks were interested in the product, they were not willing to invest at that valuation.
Shirah quickly began working on her first prototype for the drink cover, utilizing her mother’s stockings. Her brother Michael, who was graduating from college at the time, witnessed Shirah’s prototype. Drink spiking is one of the most common risks female students face while out drinking, according to his collegiate education.
The siblings then set out to create a tamper-proof way to protect drinks, which led them to the NightCap Scrunchie. The scrunchie is made from neoprene and can be wrapped around the stem of a wine glass or any type of drink container.
After seeing the potential in Night Cap, Michael decided to forgo law school and collaborate with Shirah in order to make her ambition a reality. In September 2019, they launched their first blend, called “Midnight Rose”.
What Happened to NightCap After Shark Tank?
Since appearing on Shark Tank, NightCap has continued to grow and gain popularity. The company has sold over 50,000 units and is currently available in over 700 stores nationwide.
In 2020, NightCap was featured in an article on Forbes.com, which praised the product for its innovation and effectiveness [3].
After the show, the siblings continued to work on their business and managed to get NightCap into a few stores. However, they did not see the sales they were hoping for. In an effort to increase sales, Shirah and Michael decided to offer a buy-one-get-one-free deal on their website.
NightCap continues to be a success story, with sales increasing every year. The company is currently working on a new product line and plans to launch it in the near future.
Interesting Facts about NightCap:
- The NightCap was created by Shirah and Michael Benarde, two siblings who were motivated by a friend’s experience with drink spiking;
- The NightCap is a scrunchie that can be wrapped around the stem of a drinking glass to prevent tampering;
- Since appearing on Shark Tank, NightCap has sold over 50,000 units and is available in over 700 stores nationwide;
- In 2020, Forbes.com praised the product for its innovation and effectiveness;
- The company plans to expand into new markets and continue to grow its online presence in 2021;
- NightCap is a success story, with sales increasing every year;
Who are the Competitors of NightCap?
Several companies offer similar products to NightCap:
1) CupWrap is one of the main competitors of NightCap. CupWrap offers a silicone sleeve that can be placed over the top of a cup. This product is similar to NightCap in that it prevents tampering and helps to keep drinks safe. However, there are some key differences between the two products. For one, CupWrap is made from silicone, while NightCap is made from neoprene. Additionally, CupWrap is only available in black, while NightCap offers four different colors;
2) Another competitor of NightCap is Drink Safe Technologies. This company offers a product called the coaster date – which is a coaster that changes color if it comes in contact with drugs or other substances. This product is similar to NightCap in that it helps to keep drinks safe from tampering. However, there are some key differences between the two products. For one, the coaster date only works with beer and wine glasses, while NightCap can be used with any type of drink container [4];
The Net Worth of NightCap
The Future of NightCap
NightCap saw a substantial boost in sales after sealing a contract during its Shark Tank pitch. In only a year since it aired, Nightcap has already amassed $2.1 million in lifetime sales and widened its presence in the United Kingdom. The firm had just $68,000 in sales before appearing on Shark Tank.
With Lori on board, the firm has released three new colors and a keychain, as well as recruited singer Julia Michaels to help promote it in bars and music venues [6].
One of the main goals for NightCap in the future is to continue to expand its international reach. The company has plans to launch in Canada and Australia in the near future. Additionally, NightCap is working on developing a new product that will help to keep drinks cold for longer periods of time.
FAQ
Did they get a deal?
Yes, the siblings managed to get a deal with Lori Greiner. She invested $60,000 in exchange for a 25% stake in the company.
Who invested in NightCap?
The entrepreneurs managed to get a deal with Lori Greiner, who invested $60,000 in exchange for a 25% stake in the company.
How do you use a nightcap on Shark Tank?
The NightCap is a scrunchie that can be wrapped around the stem of a drinking glass to prevent tampering. The NightCap was created by Shirah and Michael Benarde, two siblings who were motivated by a friend’s experience with drink spiking.
How much is a nightcap?
The NightCap is available for purchase on the company website for $19.99. NightCap has seen a lot of success since appearing on Shark Tank. The company has sold over 50,000 units and is available in over 700 stores nationwide. In 2020, Forbes.com praised the product for its innovation and effectiveness. The company plans to expand into new markets and continue to grow its online presence in 2021. With Lori Greiner as an investor, the company has released three new colors and a keychain, as well as recruited singer Julia Michaels to help promote it in bars and music venues.
What does NightCap mean?
The term “nightcap” can refer to a drink taken before bed or a type of headwear worn at night.
How many NightCaps have been sold?
NightCap has sold more than 250,000 units in 30 countries in only 2 years. NightCap isn’t designed to let you leave your drink alone for a long time- it’s simply meant to be an extra layer of protection for shorter periods.
NightCap is a physical and psychological barrier designed to keep pills and powders from being dropped into your drink. You should always use NightCap instead of covering your drink with your hand or napkin because you never know what the person next to you will do when you’re not looking.
NightCap has gained a lot of attention from media outlets and celebrities, including being featured on the Today Show, Fox News, USA Today, and Cosmopolitan magazine. It has also been endorsed by actresses Jessica Alba and Jaime King for their The Honest Company company blog.
Is NightCap patented?
The drink spiking prevention scrunchie, or the NightCap, was invented by then-16-year-old Shirah Benarde from West Palm Beach, Florida. The idea for this handy device came to her in a dream after hearing about the unfortunately common occurrence of drink spiking from friends who experienced it firsthand after going off to college.
What are some of the lessons that entrepreneurs can learn from the NightCap experience?
After their crowdfunding campaign was successful, Shirah and Michael took their idea to market. In December 2019 they launched Nightcapit.com which has been featured on the Fox Business Network among other channels.
Though the road has not been smooth, Shirah and Michael have persevered through challenges like a trademark issue and a business model pivot. They have learned lessons of tenacity, and being open to change, from their experience with NightCap – most importantly though, they’ve learned when to ask for guidance from those more experienced than them.
Shirah and Michael’s experience with customer validation can teach entrepreneurs a lot. In the early stages of development, they gathered feedback from potential customers to make sure they were solving an existing problem. And even after the launch, they kept getting feedback to improve their product and make it more useful for users.
Shirah and Michael’s story with NightCap is a great example of the good and bad times entrepreneurs face. By staying positive to feedback and willing to change, they have been able to overcome obstacles while continuing to grow their business. We can learn from them by taking their experience into account for our own future businesses.
What is the Nightcap’s net worth?
Nightcap achieved $2.1 million in revenue by 2022 and, because of this income stream, we estimate Nightcap is worth around $1.1 million.
Nightcap drink cover will have maintained its present business model for two years as of July 2022. This company participated in the Florida State University’s InNOLEvation Challenge Competition in which 50 startups competed.
NightCap won $10,000 by winning the competition and is now focusing its efforts on marketing. By utilizing Facebook, Instagram, and Tiktok as platforms for social media marketing, NightCap has achieved 52.8k followers on Instagram.
Additionally, NightCap has been featured in Cosmopolitan and People Magazine, among others. The company also sells its products on Amazon at a price of $9.99 for a pack of three drink covers.
However, it is important to note that the net worth of a privately-held company such as this one can vary depending on factors like investments and expenses. This estimated net worth should only be used as a rough guideline. It may change over time as the company grows and evolves.
What are the advantages of NightCap?
The Nightcap: Drink Scrunchie is a combo of spandex and nylon that can fit over any standard glass. It doesn’t look like anything special when it’s not in use, just a scrunchie that you could easily carry around with you. But when you need it, it fits snugly over your drink to keep bugs out.
The NightCap is machine washable and has a small opening to fit a straw through. When you order, it comes with a carrying bag that includes two stainless steel straws and a cleaning brush designed for the straws.
Michael and Shirah have stressed that the Nightcap is not ready for people to leave their drinks unsupervised. You should stay aware while using this product in a public place. But it can be a great solution for outdoor events, picnic tables, and even the pool.
Nevertheless, most professionals think that the NightCap is reasonably successful because it hinders people from putting pills or other unwanted objects into the users’ beverages. On a happier note, the NightCap can also be used at amusement parks or picnics to keep sand or insects out of your drink.
Pros of using NightCap:
- The Nightcap can fit onto any size or shape of glass;
- Can be carried around as a fashionable accessory;
- Sold with straws and cleaning equipment for the straws;
- Machine washable;
- Easy to carry around and use;
The NightCap is ideal for those who want to maintain their drink’s taste, temperature, and integrity without comprising style or practicality. The NightCap can provide an extra level of protection whether you are enjoying drinks at a bar, the beach, or just hanging out with friends. It is essential to remain cautious while using this product and never leave your drink alone in a public place.
What are the disadvantages of NightCap?
- Does not guarantee that 100% of unwanted substances will be prevented from entering the drink;
- This drinkware is not appropriate for leaving drinks unattended in public;
- This product only accommodates standard-sized straws and may not be compatible with thicker straws or oddly shaped glasses;
- Might not fit onto certain shaped glasses or mugs;
- Although you should still be cautious of your drink, others believe that the Nightcap is unnecessary;
- Can be a bit expensive for one-time use;
How long does it take to ship NightCap?
The NightCap product ships worldwide and the official website says that customers should expect to receive their bundle within 2-4 weeks if they live internationally, and a few days if they live in the United States. The NightCap also comes with a satisfaction guarantee – so you have nothing to lose!
Useful Video: Stopping Scumbags | NightCap on Shark Tank
Final Words
In conclusion, Shark Tank was a great experience for the NightCap team. They learned a lot about their business and what it takes to be successful. They also made some valuable connections with the Sharks.
References:
- https://thecinemaholic.com/an-update-on-nightcap-scrunchies-from-shark-tank/
- https://www.pinoymoneytalk.com/night-cap-shark-tank/
- https://www.pinoymoneytalk.com/night-cap-shark-tank/
- https://www.drinksafe.com/
- https://pppshopper.com/nightcap-shark-tank-update/
- https://www.sharktankrecap.com/nightcap-drink-cover-update-shark-tank-season-12/