In the compelling aftermath of Rounderbum’s appearance on Shark Tank, the brand experienced a transformative journey, navigating the highs and challenges of entrepreneurship under the scrutinizing gaze of seasoned investors. Founder Jonathan Diersing’s pitch for body-enhancing undergarments piqued the interest of the sharks, ultimately forging a significant deal.
As the episode unfolded, a partnership with Kevin O’Leary materialized, setting the stage for Rounderbum’s post-show endeavors. In this exploration, we delve into the pivotal moments, successes, and lessons learned by Rounderbum since its Shark Tank debut, uncovering the impact of the strategic alliance forged in the tank.
What Is Rounderbum:
One of the most significant advantages of Rounderbum underwear is the fit. Numerous reviews highlight the snug and comfortable fit of the product. This makes them an excellent option for men who dislike loose underwear.
The Unique Concept
Specializing in crafting underwear that accentuates individual attributes, Rounderbum focuses on giving men’s bottoms a more rounded and enhanced appearance. The undergarments from Rounderbum incorporate a plethora of cutting-edge technologies.
Pros:
Innovative Padded Technology:
Rounderbum’s standout feature is its Padded Technology, aimed at providing a discreet and subtle muscle-enhancing effect. This innovation caters to individuals who desire a more athletic and attractive appearance. The garments are meticulously designed to conform to various body shapes, offering a personalized fit that boosts confidence.
Confidence-Boosting Design:
The primary objective of Rounderbum is to make every man feel and look more confident. By combining seamless design with muscle-lifting and defining technologies, the undergarments contribute to a positive self-image. The garments not only focus on aesthetics but also prioritize comfort, creating a comprehensive package for consumers.
Diverse Product Range:
Rounderbum goes beyond padded briefs, offering a diverse product range that includes shirts, trunks, and boxers. This diversity allows customers to choose from various styles and preferences, making Rounderbum a one-stop shop for body-enhancing undergarments.
Online Presence and Sales Growth:
The decision to launch Rounderbum as an online-only brand proved to be a strategic move. Leveraging social media and Facebook ads, the company quickly gained traction. By 2017, Rounderbum had achieved an impressive milestone, surpassing $ 1 million in sales through its online platform. This success underscores the effectiveness of their digital marketing strategy.
Entrepreneurial Origin Story:
Jonathan Diersing’s journey from a neuroscience graduate with aspirations of becoming a doctor to the founder of Rounderbum adds a compelling narrative to the brand. The unexpected pivot into entrepreneurship, driven by the desire to create confidence-boosting products, reflects the spirit of innovation and determination that defines Rounderbum.
Shark Tank Appearance:
The pinnacle of Rounderbum’s early journey was its appearance on ABC’s Shark Tank in 2018. The exposure on this popular entrepreneurial show provided the brand with a platform to showcase its products and vision. The episode, which aired on January 21, 2018, marked a significant moment in Rounderbum’s trajectory.
Cons:
Niche Market Appeal:
While Rounderbum’s focus on body-enhancing undergarments is a unique selling proposition, it also means that the brand caters to a niche market. The appeal may be limited to individuals specifically seeking such enhancements, potentially excluding a broader customer base.
Price Range:
The price range of Rounderbum’s products, ranging from $ 20 to $ 29 for briefs, may be perceived as relatively high for some consumers. While the innovative technologies and design justify the cost, it could be a barrier for price-sensitive customers.
Limited Retail Presence:
As of 2023, Rounderbum primarily operates online. While this model has proven successful, it limits the accessibility of the products for customers who prefer in-store shopping or those who wish to try on garments before purchasing.
Potential Product Understanding Challenge:
The innovative technologies used by Rounderbum, such as Padded Technology, may require a clear understanding by consumers. Communicating the benefits effectively and dispelling any misconceptions about the purpose of the enhancements could be a potential challenge [2].
Who May Benefit From Using?
- Individuals Seeking Enhanced Physique:
Rounderbum is tailored for those who desire a more athletic and defined appearance. The Padded Technology incorporated into their undergarments is designed to discreetly lift and define muscles, providing a transformative effect. Individuals who are conscious about their physique or wish to enhance specific features may find Rounderbum’s products appealing.
- People with Confidence Concerns:
The primary objective of Rounderbum is to boost confidence. Those who may feel self-conscious about their body shape or seek an extra layer of assurance in their daily lives can benefit from the psychological boost provided by these body-enhancing undergarments [3].
- Men Engaged in Fitness Activities:
Fitness enthusiasts, bodybuilders, or individuals engaged in regular physical activities may appreciate Rounderbum’s design. The muscle-lifting and defining technologies can complement their efforts in the gym, offering a visually enhanced physique even outside of workout sessions.
- Individuals with Specific Wardrobe Needs:
Rounderbum’s product range, which includes briefs, shirts, trunks, and boxers, caters to various wardrobe preferences. Those who are particular about their undergarments and seek a seamless, comfortable fit may find Rounderbum’s offerings well-suited to their needs.
- Consumers Open to Innovative Apparel:
Rounderbum’s incorporation of innovative technologies, such as Padded Technology, appeals to consumers who are open to trying new and unique apparel solutions. Individuals who appreciate the blend of fashion and technology in their clothing choices may be drawn to the brand.
- Customers with Online Shopping Preferences:
Given that Rounderbum primarily operates online, individuals who are comfortable with and prefer online shopping may benefit from the brand’s accessibility. The online platform allows for easy browsing, selection, and purchase, catering to a digital-savvy consumer base.
- Those Inspired by Entrepreneurial Stories:
The story of Rounderbum’s founder, Jonathan Diersing, may resonate with individuals who are inspired by entrepreneurial journeys. Those who appreciate the backstory of a brand, especially one that started as a side project and grew into a successful business, may find Rounderbum’s narrative compelling.
- Users Seeking Diverse Undergarment Styles:
With a product range that goes beyond traditional briefs to include shirts, trunks, and boxers, Rounderbum appeals to individuals seeking diverse styles in their undergarments. The brand’s commitment to offering a range of options allows users to choose products that align with their personal preferences.
About the Founders Of Rounderbum
The initial focus was on the production of boxers and briefs tailored not only for men but also extended to include panties designed for women. Demonstrating versatility, Diersing further diversified the product line by introducing compression shirts for men and compression socks, enriching the brand’s offerings with a broader range of choices.
In a bid to enhance accessibility, Rounderbum’s meticulously crafted products found their way onto major online platforms like Amazon and selected small mom-and-pop shops. While acknowledging that the products might come with a premium price tag, Diersing’s unwavering commitment to quality ensures that Rounderbum’s offerings deliver exceptional results.
Recognizing the potential for expansion, Diersing strategically positioned Rounderbum for growth beyond online markets. In pursuit of this vision, he sought assistance from the seasoned investors on Shark Tank. His aim was clear – to secure a partnership that would not only provide the necessary support but also facilitate the brand’s expansion into a wider array of retail stores, ushering in a new chapter for Rounderbum.
The Pitch Of Rounderbum At Shark Tank
In the Shark Tank arena, Jonathan, the founder of Rounderbum, introduces himself and swiftly puts forth his funding request. Seeking $ 150,000 in exchange for a 10% stake in his company, he sets the stage for his pitch by emphasizing the importance of self-confidence [5]. Acknowledging the universal desire to “look good and feel good,” he engages the sharks with a rhetorical question about the common struggle with ill-fitting jeans, humorously demonstrated by a model beside him.
Positioning Rounderbum as a pioneer in body-shaping technology, Jonathan describes it as a brand that is “redefining the underwear market”. He details the various technologies integrated into their products, emphasizing their commitment to helping wearers feel confident. From traditional compression shapewear to innovations enhancing desired areas of the body, Rounderbum aims to provide a comprehensive solution.
The founder directs the sharks’ attention to his model, showcasing the padded trunks and muscle shirts for comfort and discretion. He underlines the invisibility of the products and their natural feel. The “before and after” visuals, coupled with product samples, further illustrate the transformative impact of Rounderbum’s offerings.
Sharks inquire about the motivation behind wanting a bigger butt, and Jonathan explains it aligns with the desire to look better. Addressing a comparison with Spanx for Men, he highlights Rounderbum’s focus on shaping rather than compression. The question of price arises, and the founder confidently states their $ 25 pricing is competitive.
Revealing impressive sales figures, Jonathan shares that Rounderbum achieved $ 1 million in sales since its 2015 website launch, with $ 700,000 in the past twelve months. All sales have been online, primarily driven by Facebook ads. The profitability stands at 25% to 30%, with a confirmation of $ 200,000 in the previous year.
Jonathan outlines his need for $ 150,000 to hire a marketing team, invest in viral videos, and expand Facebook advertising. He mentions a new brick-and-mortar store in West Hollywood as part of a strategy to reduce fulfillment costs. Despite skepticism from the sharks regarding the cost-effectiveness of a physical store, Jonathan anticipates $ 1 million in sales for the year, aiming for $ 1.5 million the following year.
Daymond questions the urgency of rapid growth, prompting Jonathan to reveal his non-business background and initial pursuit of medicine due to his mother’s multiple sclerosis. His shift to sales eventually led to the creation of Rounderbum. Impressed yet finding it challenging to understand the product, Daymond withdraws. Mark expresses doubts and drops out.
Kevin, acknowledging Jonathan’s achievements, offers $ 150,000 for a 5% stake with a $ 2 royalty until $ 300,000 is recouped. Jonathan seeks assurance for major retail placement, and Kevin affirms. Mark, Lori, and Robert subsequently drop out. Jonathan turns to Robert for a counteroffer, but Robert offers $ 150,000 for 20% equity.
Negotiating unsuccessfully for 15%, Jonathan ultimately agrees to Kevin’s offer, sealing the deal for a 5% stake and a $ 2 royalty until $ 300,000 is fulfilled. The episode concludes with a handshake and hug between Jonathan and Kevin.
Rounderbum After The Shark Tank
Following the show, the deal brokered between Kevin and Rounderbum materialized, marking a significant milestone in the brand’s journey. The exposure on Shark Tank played a pivotal role in generating public interest in Rounderbum, propelling it into the spotlight. Kevin O’Leary, serving as a staunch supporter of Jonathan, not only assisted in brand building and marketing but also leveraged his influential social platforms to promote Rounderbum.
Kevin’s endorsement added a compelling dimension to Rounderbum’s marketing strategy. He openly shared his switch from his old underwear to Rounderbum, becoming a strong influencer in attracting customers. This testimonial not only reflected Kevin’s confidence in the brand but also served as a powerful endorsement for potential customers.
During the pitch, Rounderbum had initially presented a valuation of $ 1,000,000. However, the deal selected by Jonathan resulted in a reevaluation, elevating the company’s worth to $ 3,000,000, accompanied by a $ 2 royalty until $ 300,000 was recouped. This strategic decision showcased Jonathan’s negotiation acumen and set the stage for Rounderbum’s post-show success.
The post-show journey was marked by significant achievements and growth for Rounderbum, attributed to the invaluable expertise and support provided by Kevin O’Leary. The collaboration extended beyond Shark Tank, with Rounderbum making appearances on various popular shows. Notably, their most significant sale occurred on Aftermath, and the brand secured the fourth position on the best-selling underwear list on Amazon, a testament to their growing popularity.
Rounderbum continues to thrive in the market, showcasing sustained success. The brand achieved its most significant sale during the Aftermath show and currently holds a notable position as the fourth-best-selling underwear on Amazon. Additionally, Rounderbum has expanded its product offerings with a few innovative additions.
The brand’s commitment to innovation, marketing, and strategic partnerships has propelled it into the forefront of the men’s undergarment market, marking Rounderbum as a notable success story in the business world.
The Net Worth Of Rounderbum
Rounderbum has been successful since its launch, even catching the attention of investors on Shark Tank. Kevin O’Leary invested $ 150,000 into the company, and since then, the company has seen significant growth. For instance, in 2018, Diersing projected that the company would achieve $ 1 million in sales.
The company, known for its innovative technology in men’s shapewear, offers products ranging from $ 20 to $ 25 per pair. After the appearance on Shark Tank, the company’s products have become widely available, even being sold on Amazon.
Alternatives To Rounderbum:
- VOCLA:
VOCLA is a global online retailer specializing in men’s underwear, swimwear, and sportswear. They offer a diverse range of styles from international designer brands, making them a solid alternative to Rounderbum.
- 2(X)IST:
2(X)IST is another brand that focuses on men’s undergarments. Known for their stylish designs and comfortable fit, they’ve established a strong presence in the industry.
- Skull & Bones:
Skull & Bones offers a range of men’s underwear that combines luxury, comfort, and style. If you’re looking for high-quality materials and unique designs, this could be an excellent alternative to Rounderbum.
- RibbedTee:
RibbedTee is known for its American-made men’s undershirts and underwear. They focus on providing comfort and quality, which makes them a worthy competitor to Rounderbum.
- Bubbles Bodywear:
Bubbles Bodywear, like Rounderbum, offers butt-enhancing underwear for men. What sets them apart is their range of padding options and optional silicone inserts.
- MeUndies:
MeUndies is a popular name in the undergarment industry, offering a wide selection of styles and fabrics. Their focus on comfort and fit makes them a strong competitor to Rounderbum.
- Andrew Christian:
Andrew Christian is another brand that offers body-enhancing underwear for men. Their FlashLift Technology and bold designs serve as a great alternative to Rounderbum.
- AussieBum:
AussieBum is an Australian men’s swimwear and underwear brand. They are known for their high-quality products and innovative designs, making them a good alternative to Rounderbum [8].
FAQ:
- Do men use shapewear?
Yes, men use shapewear, and Rounderbum specializes in offering body-enhancing undergarments for men.
- Is it safe to use shapewear?
Rounderbum’s products are designed with comfort and safety in mind. However, individuals should follow proper usage guidelines to ensure a safe experience.
- What does shapewear do?
Shapewear, like Rounderbum’s offerings, is designed to enhance and shape the body, providing a more defined and confident appearance.
- What sizes of Rounderbum shapewear are available in the market?
Rounderbum offers a range of sizes for their shapewear to cater to different body types and preferences.
- Why do the Shark Tank sharks wear the same clothes?
The sharks on Shark Tank wear the same clothes for continuity purposes. Multiple pitches are often filmed on the same day, and the consistent attire helps in seamless editing.
- What international show inspired Shark Tank?
Shark Tank is inspired by the international show “Dragon’s Den.”
- Does Shark Tank still exist?
As of 2023, Shark Tank was still an active and popular television show.
- Is Shark Tank fictional?
No, Shark Tank is a reality television show where entrepreneurs pitch their business ideas to a panel of investors (sharks) in the hopes of securing investment.
- What is the most famous thing from Shark Tank?
Various products and businesses have gained fame from Shark Tank, with success stories including the Scrub Daddy, the Squatty Potty, and the Ring doorbell.
- Are Shark Tank deals bad?
The success of a Shark Tank deal depends on the specific circumstances of each business. While some deals lead to successful partnerships, others may face challenges.
- Are people on Shark Tank successful?
Many entrepreneurs who appear on Shark Tank have found success, securing investments and leveraging the exposure to grow their businesses.
- Have all 5 sharks ever invested in one product?
It’s uncommon for all five sharks to invest in a single product due to differing opinions and investment strategies.
- What famous company was rejected in the Shark Tank?
One notable example is the company Ring, which was rejected on Shark Tank but went on to become highly successful.
- Does Shark Tank use actors?
No, Shark Tank features real entrepreneurs pitching their businesses to a panel of investors. The show is not scripted, and participants are genuine business owners seeking investment.
- Why is Shark Tank being sued?
Details may vary, but lawsuits against Shark Tank typically involve claims related to contract disputes, intellectual property, or disagreements between entrepreneurs and sharks.
- How do I get on Shark Tank?
To apply for Shark Tank, entrepreneurs can visit the official Shark Tank casting website and follow the application process outlined by the production team.
Useful Video: Robert Herjavec Wants A Rounder Bum | Shark Tank
References:
- https://bizzbucket.co/rounder-bum-shark-tank-update/
- https://sharktankrecap.com/rounder-bum-update-shark-tank-season-9/
- https://www.sharktanksuccess.com/rounderbum-shark-tank-review/
- https://www.cnbc.com/2018/01/22/shark-tank-kevin-oleary-invests-150000-in-rounderbum.html
- https://www.therealitytv.com/rounderbum-shark-tank/
- https://www.sharktankblog.com/business/rounderbum/
- https://gazettereview.com/2018/08/rounderbum-after-shark-tank-update/
- https://rounderbum.com/