The entrepreneurial journey of Tate Koenig took a remarkable turn after his appearance on the hit television series, Shark Tank when he introduced his innovative creation, the Pizza Pack. In the cutthroat world of business, where only the most ingenious and viable ideas survive, Tate’s initial endeavor, represented by his parent company, Cheese Chopper LLC, faced the tough scrutiny of the Sharks in Season 12. However, it was the Pizza Pack, a collapsible pizza container, that would ultimately redefine his trajectory.
This article delves into the captivating narrative of what transpired after Tate Koenig’s initial setback in the Tank. From the disillusionment of the first pitch to the resounding success of his second, this story offers a glimpse into the challenges and triumphs of an entrepreneur who refused to be deterred by initial rejection.
The Pizza Pack, often described as a game-changer for pizza enthusiasts, has not only garnered a loyal customer base but also secured a substantial investment from a Shark. It explores the highs and lows, the strategic shifts, and the partnerships that have defined the Pizza Pack’s journey, ultimately paving the way for its remarkable rise in the competitive market.
What Is Pizza Pack?
Features & Benefits
One of the standout features of the Pizza Pack is its BPA-free and non-toxic design. This means it’s safe for both you and the environment. The container is expandable, accommodating slices from pizzas up to 18 inches in diameter. If you’re a fan of New York slices, you can trim down a side for a perfect fit [2].
The Pizza Pack also comes with five microwavable serving trays, making it convenient to reheat and serve your pizza without compromising on quality or taste. It’s dishwasher-safe, which makes cleaning a breeze.
What Is Included In an Average Pizza Pack Package:
The Pizza Pack is a revolutionary pizza storage solution that offers an array of innovative features to enhance your pizza enjoyment. This exceptional product can comfortably accommodate up to 5 pizza slices, thoughtfully separated by individual serving trays, making it not only a convenient storage option but also a microwavable solution for reheating your favorite pizza. Its versatility extends to its vibrant range of color choices, with 6 attractive options to suit your style.
Designed with the utmost convenience in mind, the Pizza Pack is crafted from BPA-free, dishwasher-safe, and microwavable silicone material, ensuring that your pizza remains as delectable as ever, with easy cleanup afterward. The product’s airtight lid boasts a small vent hole, preventing your pizza from becoming soggy when reheated, and preserving that coveted crispness.
Pros:
- High-Quality Material: The Pizza Pack is made from durable, BPA-free, and non-toxic silicone material. This ensures that the product is safe to use, easy to clean, and environmentally friendly;
- Adjustable Size: The expandable design accommodates pizza slices of various sizes, up to 18 inches;
- Microwavable Trays: The inclusion of five microwavable serving trays is a thoughtful addition, allowing for easy reheating and serving;
- Easy to Clean: The Pizza Pack is dishwasher safe, which simplifies the cleaning process [3];
Cons:
- Size Limitations: While the Pizza Pack can fit slices from pizzas up to 18 inches, anything larger than this won’t fit. This might be a disadvantage for those who prefer extra-large pizzas;
- Adjustments Needed for Certain Slices: If you’re a fan of New York-style pizza slices, you may need to trim down a side for a perfect fit. This could be viewed as an inconvenience;
Who May Benefit From Using Pizza Pack?
The Pizza Pack can be a beneficial tool for a wide range of individuals and scenarios, including:
- Pizza Lovers: Anyone who frequently enjoys pizza at home and often has leftovers would find the Pizza Pack useful. It’s designed to preserve the taste and texture of pizza slices, ensuring that your leftovers are just as enjoyable as when the pizza was fresh;
- Environmentally Conscious Individuals: The Pizza Pack is reusable, which makes it an eco-friendly alternative to disposable pizza boxes. For those looking to reduce their carbon footprint, this product is a great choice;
- Families: The Pizza Pack comes with five microwavable serving trays, making it convenient for families to heat individual slices according to everyone’s eating schedule;
- Students & Office Workers: For those who often bring lunch from home, the Pizza Pack offers a practical solution for transporting and reheating pizza slices;
- Party Hosts: If you’re hosting a party and plan to serve pizza, the Pizza Pack can help store any leftover slices efficiently, reducing waste and saving space in your fridge;
- Restaurants & Pizzerias: For businesses that often have leftover slices or offer takeaway services, the Pizza Pack could be a unique, reusable packaging solution that customers appreciate;
- Outdoor Enthusiasts: If you love picnics or camping and pizza is on your menu, the Pizza Pack is a compact and convenient way to carry your favorite slices [4];
About the Founders Of Pizza Pack
Tate introduced a groundbreaking creation in 2021, unveiling the innovative Pizza Pack.
Tate earned his Bachelor of Science in Business from Oregon State University back in 2012. Before embarking on his college journey, he gained experience at Hubbard Auto and Electric, and TK Orchards Company.
Upon completing his business studies, he commenced his career as a lumber broker at Shelter Products Inc. in 2013.
Since 2002, he has taken on the role of Operations Manager at the Full Contact Fighting Federation. Idaho Pacific Lumber Company also enlisted him as a lumber broker in 2018.
Tate presently holds the esteemed position of President at Citizens of the World (Cow) and concurrently serves as a lumber broker for Resources LLC and Idaho Pacific Lumber Company.
Unwavering in his determination, Tate diligently crafted a novel product known as the Pizza Pack, a versatile and collapsible pizza container. In 2022, Tate became the proud owner of a farm where he resides with his girlfriend and their baby. On their farm, they engage in the cultivation of diverse food varieties, including hazelnuts, and have even introduced goats to the mix.
According to the entrepreneurial maestro, the Pizza Pack has garnered an enthusiastic reception from consumers, with many eager patrons embracing this ingenious creation.
With renewed vigor, Tate has once again set his sights on Shark Tank, this time in Season 14, in pursuit of securing investment from the formidable panel of Sharks.
The Pitch Of Pizza Pack At Shark Tank
Tate Koenig ventured into the Shark Tank den with his enticing Pizza Pack, seeking a $ 100,000 investment in exchange for a 10% equity stake, which pegged the product’s valuation at $ 1 million [6]. He presented his innovative creation to the Sharks, highlighting his previous appearance in Season 12.
The manufacturing cost for the Pizza Pack totals $ 4, and it retails at a price point of $ 24.99. While it might seem steep, this pricing strategy yields substantial profit margins. However, Tate acknowledged the necessity of a potential price adjustment to stimulate greater sales.
Having launched the product in April, the Pizza Pack has already generated impressive sales, tallying up to $ 250,000, primarily through online e-commerce platforms like Amazon. Notably, the average cost of acquiring a new customer stands at a mere $ 2.83, resulting in a commendable profit of $ 60,000 from these sales [7].
Tate also revealed that utility and design patents for the Pizza Pack are currently in the pending phase. His business partners play a vital role, with Shore holding a 35% stake and Tate personally investing $ 25,000 in the business.
The primary motivation for Tate’s appearance on Shark Tank is the need for additional inventory to meet growing demand.
Barbara Corcoran and Robert Herjavec both opted to pass on the opportunity, expressing reservations about the product.
However, Kevin O’Leary saw potential in the Pizza Pack and extended an offer of $ 100,000 for a 10% equity share, coupled with a royalty of $ 2 per unit until his investment was recouped. Afterward, the royalty would drop to 50 cents indefinitely.
Lori Greiner stepped in with a different approach, offering $ 100,000 for a 20% equity share, without any royalty requirement.
Mark Cuban entertained the idea of purchasing the entire company, asking Tate how much he’d need to sell the entire business. Tate promptly responded with a $ 5 million figure, which intrigued Mark.
Daymond John also made an offer, proposing $ 100,000 for a 25% equity share. Meanwhile, Lori Greiner revised her initial offer, proposing $ 100,000 for a 15% equity stake. In response, Tate negotiated, suggesting a compromise at 13% equity, which Lori accepted.
In the end, Tate Koenig decided to partner with Lori Greiner, accepting her investment of $ 100,000 for a 13% equity stake, sealing the deal for the Pizza Pack.
Pizza Pack After The Shark Tank
During his initial appearance in Shark Tank Season 12, Tate Koenig faced disappointment as his product failed to pique the interest of the Sharks, deeming it unviable. However, when he returned in Season 14, his pitch for the Pizza Pack captured the attention of the Sharks, leading to a successful investment.
Following some negotiation, Lori Greiner decided to invest $ 100,000 in exchange for a 13% equity stake in the business [8].
The Pizza Pack predominantly found its market on Amazon’s e-commerce platform, and shortly after its launch, it began to demonstrate strong sales performance.
The only limitation to its soaring sales was the constraint on inventory; they couldn’t fulfill additional orders.
The product received a warm reception from the Shark Tank audience, particularly resonating with pizza enthusiasts. The Pizza Pack container emerged as a favored choice for those who savor their slices.
Beyond the collapsible pizza container, Cheese Chopper LLC offers a range of other products on its website, including Collapsible Meal Containers and Cheese Choppers.
By October 30, 2022, the price of the Pizza Pack container had risen to $ 23.99. The endorsement of Instagram user and blogger ‘Kortney and Karlee,’ with a substantial following of +66.9K, contributed to this price hike.
Having Lori Greiner on board as a partner and investor is a significant advantage for the business. Lori’s expertise in marketing and market trends positions her to enhance the product’s sales.
Despite its relatively high selling price, the product maintains a favorable profit margin. However, it’s recognized that reducing the price could further stimulate sales and broaden the customer base.
Business Model of Pizza Pack
Beyond these innovative culinary solutions, the company also boasts an intriguing lineup of merchandise, including cheese-themed t-shirts, stylish coasters, collapsible meal containers, and compact food dicers. These diverse offerings have broadened the horizons of Cheese Chopper LLC.
In an effort to further expand its business horizons, Pizza Pack sought the valuable exposure and investment opportunities presented by “Shark Tank”. The initial proposition put forth was $ 100,000 in exchange for a 10% equity stake in the company. This strategic move paved the way for a remarkable turning point in the company’s journey.
The Pizza Pack product made a profound impression not only on the enthusiastic audience but also on the discerning Sharks. Tate Koenig found himself presented with several enticing offers. After careful consideration, he made the strategic choice of partnering with Lori Greiner, who extended a generous offer of $ 100,000 for a 13% equity stake. This decision had a transformative impact on the company’s sales and popularity, charting a course for further success in the days to come.
The Net Worth Of Pizza Pack
Cheese Chopper LLC, the parent company of Pizza Pack, initially made an appearance on Shark Tank Season 12 but regrettably failed to secure a deal with the Sharks. However, the entrepreneur’s subsequent offering, the Pizza Pack, found a valuable investor in Lori Greiner. Notably, the sales of this new product have outshone the previous one, a sentiment also shared by Kevin.
In the market research, we’ve identified a key competitor for the Pizza Pack, the “XCMJTM” brand. This competitor is listed on Amazon with a lower price point of $ 19.95 [12].
To gain an edge over this competitor, it’s advisable for Pizza Pack to consider reducing its selling price. Additionally, a robust marketing strategy is essential to effectively promote and differentiate the product in the market. By combining competitive pricing with effective marketing, the Pizza Pack can continue its success and potentially surpass its current achievements.
Alternatives To Pizza Pack
One such alternative is the Adjustable Pizza Storage Containers available on Amazon. Similar to the Pizza Pack, these containers are made from BPA-free, food-safe materials. They’re reusable which makes them a more eco-friendly alternative to disposable pizza boxes.
Another notable alternative is the Reusable Pizza Storage Container, also found on Amazon. This container is made from food-grade silicone, offering a sustainable alternative to single-use plastics and tin foils. It’s collapsible, microwavable, and designed with convenience and sustainability in mind.
The Reddit community has also been brainstorming alternatives for packing an 18″ pizza without a traditional pizza box. Suggestions include buying packing boxes and cutting them into 18″ squares, which could be a cost-effective but slightly more labor-intensive solution.
The Ready Hour Survival Pizza Kit offers a different spin on pizza storage. This kit allows you to make six pizzas with just water, providing a practical solution for outdoor adventures or emergencies.
For a more DIY approach, the concept of homemade Pizza Lunchables is gaining popularity [13]. This involves using various bread types as your base (such as naan or flatbread) and adding your favorite toppings. This method provides flexibility and can be a fun, interactive way to enjoy pizza.
Finally, for those conscious of harmful chemicals in packaging, PFAS packaging alternatives are on the rise. Uncoated alternatives are recommended for pizza boxes, providing safe and eco-friendly options for consumers.
FAQ:
- How did Pizza Pack do after Shark Tank?
The Pizza Pack, as with many brands that appear on “Shark Tank”, likely experienced a significant increase in sales following its presentation on the show. Although the founder Tate Koenig did not secure a deal during his pitch, he returned to the Tank in Season 14 for another attempt. The product has since gained popularity and even gone viral.
- Who made a Pizza Pack?
The Pizza Pack was created by entrepreneur Tate Koenig. After failing to secure a deal on a previous season of “Shark Tank” for a different company, Koenig came back during Season 14 to try and pitch the Pizza Pack.
- How do you use the Pizza Pack?
The Pizza Pack is designed to be easy to use. This expandable silicone container fits slices from any pizza up to 18 inches. If needed, you can trim down a side for a perfect fit. The Pizza Pack also includes five microwavable serving trays, which can be used to heat individual slices.
- Why should use a pizza box?
Pizza boxes are primarily used for transporting and protecting the pizza, ensuring it remains intact and warm. They are also useful for storing leftovers. However, traditional pizza boxes are often single-use and can contribute to waste. This is where the Pizza Pack comes in as a reusable, more eco-friendly alternative.
- When was the Pizza Pack invented?
The exact date of the Pizza Pack’s invention isn’t clear from the provided sources. However, it’s known that the product was pitched on Season 14 of “Shark Tank,” which suggests it was developed sometime before this.
- Can I microwave with the Pizza Pack?
Yes, the Pizza Pack is microwavable. It comes with five microwavable serving trays for heating individual pizza slices. The product is also BPA-free and nontoxic, ensuring it’s safe for food storage and heating.
- What is the most successful product sold from Shark Tank?
The most successful product from “Shark Tank” is arguably the Scrub Daddy, a versatile, smiley-faced sponge that changes texture based on water temperature. It has generated over $ 200 million in sales since its debut on the show.
- Why should I use a Pizza Pack instead of a regular pizza box?
The Pizza Pack is reusable, reducing waste compared to single-use pizza boxes. It also maintains the taste and texture of pizza slices better than traditional boxes, ensuring that your leftovers are as enjoyable as when the pizza was fresh.
- When was the Pizza Pack invented?
The exact date of the Pizza Pack’s invention isn’t clear, but it was pitched on Season 14 of “Shark Tank”, suggesting it was developed sometime before this.
- Where can I buy a Pizza Pack?
The Pizza Pack is available for purchase online at various retailers, including Amazon and the official Pizza Pack website.
- Is the Pizza Pack dishwasher safe?
Yes, the Pizza Pack is dishwasher safe, making it easy to clean and reuse.
Useful Video: Can Pizza Pack Wow The Sharks In Front Of A Live Audience?
References:
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