Pets nowadays can be found in every single household. They have attained the status of a family member. However, we sometimes become unable to look after them and they become the prey of dangerous predators.
Paul and Pamela Mott, the owners of CoyoteVest, have the perfect solution to keep our dogs safe. They have designed a coat that has spikes and colorful whiskers on it that cover the body of our dogs. It is basically a resistive shield for dogs to keep themselves safe from birds, Coyotes, or any other dangerous predators.
The owners came on Shark Tank to request $250K in exchange for 10% of their company. They also brought their product along with their two cute dogs to highlight how it protects their pet. Let’s see if they got the deal or not.
CoyoteVest Net Worth Shark Tank Update
Paul and Pamela were looking for an investment of $250K in exchange for 10% equity in the company. At the time of the episode, they valued their company at $2.5 million. They did not secure a deal with any of the sharks. After the show was aired, the company saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of CoyoteVest in 2024 is around $3 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
John Daymond
Out
N\A
N\A
The Owner’s Backstory
Paul related that they had a cute dog named Buffy. They frequently went outside with her for a walk and enjoyed nature. One day at a park, they heard a squeal and saw their dog in the jaws of a Coyote being dragged away from them. This hurt them a lot and they decided to make armor for every dog in the world to save them from unknown dangers.
The owners came on the show to seek $250K for a 10% equity stake. Their product is a lightweight coat for dogs to keep predators at a distance. The coat has spikes and whiskers which produce doubts in the predator as being something spiky and poisonous, leading to the dogs being safe from them.
Herjavec asked the first question about their sales. Paul pointed out that for 2.5 years, they have had a sale of around $570K.
Cuban inquired about their sales this year. The owner replied that it was about $260K.
Herjavec also asked about their medium of sales. He answered that their sales are directly through their online website.
Kevin wanted to know about the cost of making the product and their selling rates. Paul highlighted that it cost them $30 to make and they sell it for $120.
Cubans were curious about their location and the way to make the armor coats. He related that they are making the product in the U.S.A. in their own miniature factory.
They also have a Coyote Zapper that gives a shock to any predator that will touch the dog.
Daymond wanted to know their plans regarding the factory whether this to be operated by themselves or they want to license it from others. Paul highlighted that they initially started the factory in order to start working on their product. However, they do have a manufacturer now.
Shark’s Response and Final Decision
Cuban was the first shark out of the deal as he considers the coat to be dangerous for kids and he doesn’t consider himself to be the right shark to invest in their business.
The idea of protecting our beloved pets from danger is now a global concern and CoyoteVest makes sure to do the same. The business made an impression on people after appearing on Shark Tank, however it failed to grab a deal from the sharks. Luckily for the Mott’s, it is still functioning and revenues have now reached millions.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
