HydroMax is a unique, next-generation water system to keep players hydrated. It was originally designed for American football players to attach to their pads so that they can keep themselves constantly hydrated. Though, it is also very convenient and suitable for players of other sports, including hockey, soccer, and volleyball.
HydroMax can be mounted on the shoulder pads of the American football players and the HydroMax system contains 16 ounces of water. This ensures that the player’s body performs at its very best while playing American football. The device has a hidden sipping tube that keeps the water cool.
HydroMax Net Worth
The net worth of the HydroMax business is estimated to be between $500,000 and $1 million.
HydroMax Before Shark Tank
The HydroMax business was founded by Chris Spencer in 2007, in Houston. However, Chris Spencer got married soon and decided to start a family, due to which he was not able to dedicate much of his time and focus to HydroMax.
Years later, in 2011, Chris Spencer became more dedicated to patenting and selling his product. Thus, he started to find a distributor for his product. He wanted to give more attention to marketing and selling this product, but also had to work in the corporate business sector full time.
HydroMax During Shark Tank
Chris Spencer entered Shark Tank, seeking $50,000 in exchange for a 25% stake in his business. Thus, he valued his business during the episode at $200,000. Chris Spencer, apart from looking for a favorable deal with any of the Sharks, was looking for a business partner, and someone to support him regarding financial assistance.
Chris started by explaining the importance of hydration, stating the hazards of being dehydrated while playing American football. Further, he presented and described his product, and explained it worked.
When asked how he would devote his time to the business, Chris Spencer replied by saying that he was hopeful that one of the Sharks would become a business partner with him and assist him with HydroMax. However, Kevin O’Leary was unimpressed by this reply, stating that he preferred entrepreneurs who look after their business themselves.
One after the other, the Sharks pulled out. Daymond John felt that the valuation of the business was exaggerated, while Robert Herjavec, albeit thinking that the business is a brilliant idea, excused that Chris Spencer himself had to make sales calls.
In the end, no deal was reached between Chris Spencer and any of the Sharks.
HydroMax After Shark Tank
Although Chris Spencer was not able to safeguard any deal with the Sharks, the business continued its operations. Many professional football players have been using the product, which shows how successful HydroMax became. With the inclusion of thirteen staff members, the presence of HydroMax is felt nationwide in the United States of America.