Hear from Jasmine Johnson, founder of Parent Co, innovative electric outlet covers for baby childproofing.
Welcome to another episode of Entrepreneur Elevator Pitch, the show where entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.
As many of our contestants learn, getting your pitch out in time is no easy task — but sealing a deal can be even harder. Our board of investors comes at them with all kinds of questions, digging into their costs, marketing strategies and sales traction (or lack thereof). On this show, you have to know your numbers — and be able to think fast — if you want to make it out with a life-changing deal.
Welcome to another episode of Entrepreneur Elevator Pitch, the show where entrepreneurs looking to uplift their lives must prove to our elite panel of investors that they have what it takes in 60 seconds or less.
As many of our contestants learn, getting your pitch out in time is no easy task — but sealing a deal can be even harder. Our board of investors comes at them with all kinds of questions, digging into their costs, marketing strategies and sales traction (or lack thereof). On this show, you have to know your numbers — and be able to think fast — if you want to make it out with a life-changing deal.
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NewsTranscript
00:00Welcome to The Elevator.
00:03Hi, I'm Jasmine, CEO of Parent Co.
00:05While childproofing my home, I experienced firsthand the problems that come with these traditional outlet plugs you see here.
00:11They still aren't in standard use today and have been for over 30 years.
00:16Why? It's time for innovation.
00:18We have done just that with our outlet cover.
00:20It's patented, made in America, installed in under 30 seconds, and the plugs pivot in and out.
00:25We are seeking $200,000 on a $4 million safe note.
00:29In 2022, Walmart wanted our products in 100 stores on end caps.
00:34We weren't able to capitalize.
00:36Our profit margins are great, over 70% direct-to-consumer and over 50% wholesale.
00:42She did a great pitch.
00:44And when you say Walmart, that's a big opportunity.
00:48I think she said she had Walmart before, but she wasn't able to capitalize on it.
00:53So we'll have to see where it really is.
00:55Yeah, it's also, I mean, that product, how big can that really be?
01:01I love that you're bringing your vision to life after 20 years, so congratulations.
01:07For me, it's too early because you don't have any sales.
01:12So for that reason, I'm unfortunately going to pass.
01:16Good luck.
01:18Although I didn't get a deal, this is still a success because it really gave me the validation I need.
01:25Attention, Jasmine. Your presence has been requested back in the boardroom.
01:30Oh my goodness.
01:34Welcome back, Jasmine.
01:35Hello.
01:36We were so impressed with your pitch and most importantly, your perseverance.
01:41Although you did not get an investment today, on behalf of Amazon, we want to gift you $10,000 cash to support you and the growth of your business.
01:52Appreciate that. Thank you guys so much. Sorry to get emotional.
01:55We believe in you.
01:56Thank you so much.