Flexsil lids -:
- 1. ● What are a saran wrap and aluminum foil?
- 2. ● Difficulties faced due to saran wraps and aluminum foils in the kitchen:
- 3. ● A new idea by two entrepreneurs to use water-lids wrapping instead of old saran wrap:
- 4. ● What is Shark Tank?
- 5. ● What happened at the Shark Tank?
- 6. Where are these products made?
- 7. What is the official link to their website?
● What are a saran wrap and aluminum foil?
Saran is a common name of polythene food wrap currently owned by S.C. Johnson & Son, Inc. It is made of polyvinylidene chloride (PVDC) plastic. However, the formula of this product was changed to polyethylene due to the problems arising in the content of their previous formula in 2004. The saran wrap is very useful in preventing food spoilage and has the ability to adhere to itself. It creates an oxygen barrier that prevents the food to get spoiled and also helps the food to retain its original flavor and aroma.
Aluminum foils are the sheets of aluminum that do the same work and are used in wrapping food and stuff etc.
● Difficulties faced due to saran wraps and aluminum foils in the kitchen:
The main problem in using saran wraps and aluminum foils is that they can’t be reused, meaning they have to be disposed of once used. This proves to get costly for the people who own restaurants and industries where they need to pack thousands of foods and deliver them in such wrappings. In addition to this, these wraps also create environmental pollution as the plastic takes many years to be degraded. Despite these problems, both of these wrappings are used worldwide especially in commercial kitchens and food industries.
● A new idea by two entrepreneurs to use water-lids wrapping instead of old saran wrap:
To overcome the difficulties of saran wrap and aluminum foil as it can’t be used again and again, two chefs named, Albert David and Robin Fester came up with the idea of inventing a combination of saran wrap and aluminum foil i.e they made water-tight lids that are reusable and also are microwave proof, heat proof, oven proof, dishwasher proof, and freezer proof.
● What is Shark Tank?
It is an Australian television series that promote small businesses and start-ups. There are five panelists in the show who are businessmen and investors. What happens in the show is that If they really like the idea or the product they will invest money in it which will be very beneficial for the entrepreneur as it can make his product go viral among the customers with the money and right marketing.
● What happened at the Shark Tank?
These entrepreneurs took their idea and presented it in the Shark Tank Australia in its episode aired on 22nd august 2020 in which they tried to convince the Sharks (capitalists) to invest in their products.
In the episode, Albert David told the Judges that Flexsil lids can be used hundreds of times and will surely cut the cost of plastic wraps that are used in the commercial kitchen. He also told them that these water-lids pans came in six standard sizes worldwide.
The unbelievable thing that happened was when Steve- a panelist tried to shake the pan but surprisingly the water leaked out of the pan. However, David covered it up and told him not to put too much pressure in the middle of the lid.
They told the judges, that this product is basically made in Shenzhen, China, and the formula of this patent is owned by Albert and Robert themselves.
Albert told them about the difficulties they faced to bring something new in the market. However, the Sharks were surprised to hear that the distributors kept a large profit margin of the sales of the product. Few of the judges asked them about the sales of this product, Albert answered it and told them that their sales were really low as it were around $40,000 about the first year, it increased to $130,000 in the second year but then eventually decreased to $50-60,000 till the fourth year.
Hearing this, the sharks were quite disappointed as the product was not selling as they have hoped. They also asked Albert and Robert why the sales decreased. To which Robert told them that they didn’t have much labor throughout all these years and they have worked personally for the marketing of the products.
Judges told them maybe their product lacked something as if the customer liked the idea, they would certainly order it again which will make their sales go high rather than getting decreased.
Robert accepted that their sales were decreased due to the number of margin distributors keeps when selling the product. However, he was really nervous when he was answering the questions and the judges seemed uninterested.
They kept asking the entrepreneurs why the customers weren’t loving the product and why they could not make the product go viral? However, Albert and Robert had no answer to their questions.
In the end, the judges advised them not to blame distributors or customers for the decreased sales of their product but they should have found the solution before the third year of the sales. Both of them told the Sharks about how they didn’t have the right investment and were laking money.
To which Janine Ellis, a panelist replied, “you want us to pay for your mistakes”. She also told them how she can see that this won’t be succeeded even if she gave $300,000 for this product. This was the part when Albert and Robert knew that they messed up. All of the panelists didn’t really like the presentation of the product. They told the entrepreneurs that they didn’t want to offer anything for this product and were out.
For me, that product could have gotten many offers only if they had presented it more nicely to the panelists. Moreover, they should have worked hard on their presentation!
Here’s the link of this episode which you can watch on YouTube:
Where are these products made?
These products are made in Shenzhen, China, and then transported to Australia for sale.
Here’s the link for their official website through which you can see many of their unique products: