Hugo Maisnik grew up as a dreamer and an inventor. He thought of the idea for his Amazing Tape when a package arrived at his father’s printing store with all its content destroyed, except for one piece of plastic. From that piece of plastic, Hugo envisioned a high strength tape with no adhesive, and the idea for Hugo’s Amazing Tape came to him. He toured the country hawking the non-adhesive, transparent tape at trade shows and everywhere he went.
Hugo’s daughters, Kathryn Saltsburg and Lauri Frasier, had watched their parents put everything into trying to make Hugo’s Amazing Tape a success. Hugo had passed away within the last year, and his daughters looked to carry on their father’s vision. The two actresses believed in the product and looked to the Sharks for investment capital and some badly needed business support and advice. They were asking for a $50,000 investment in exchange for half of the equity in the business.
Hugo’s Amazing Tape on Shark Tank
Shark Tank Season 9 Episode 23
Kathryn and Lauri dove right into the Shark Tank focused on showing the panel just how amazing their product is. Hugo’s Amazing Tape uses no adhesive; it sticks to itself. The sisters tugged and pulled on the tape to show how strong and durable it is. Veins bulging, grunting, and sweating; they try to rip or tear their super-strong tape. The Hugo’s Amazing Tape is left crumpled, but not broken.
There are hundreds of uses for Hugo’s Amazing Tape. The two enthusiast entrepreneurs demonstrate a few of them. Wrap up your potluck contributions so it won’t leak in the car on the way over. It will stay securely fastened whether you use it in the freezer or toss it in the microwave. It also wraps embroidery threads without sticking or leaving a residue. The sisters explain that this genuinely amazing tape can be used for everything from bundling plants to binding wires and extension cords together. They are an all-season product with an unlimited amount of uses and applications.
As Kathryn passes out Hugo’s Amazing Tape samples, Lauri admits that the sisters put on one of the most entertaining presentations she had ever seen. As the Sharks play/test out the product, the women relate the story of their dad, and how the inspiration for the tape came.
Lauri reveals that the product’s patent had expired when their father died, but they are still selling the amazing tape online, at trade shows, and out of the trunk of their cars.
The Sharks are unimpressed with the packaging of Hugo’s Amazing Tape; the tape comes in rolls with three size options. They purchase meter rolls for $1.27 and sell them for $12.95. The sisters do not produce specific numbers. Sales had totaled around $500,000 in the past two years and had sold $27,500 the current year to date.
Robert wonders why he couldn’t simply call the makers of the tape and buy them himself. The sisters do not have a real answer for that, and he assures them that he could easily buy the tape himself and eliminate them as the middlemen. Mark is sure they are getting a bad deal from their Taiwan manufacturers.
Barb wanted to know what the two did for a living outside of their Hugo’s Amazing Tape business. Lauri is an actor and parent, Kathryn is a hairdresser who also does voiceover work. Kathryn was selling the tape to her hair salon clients and processing the orders during the breaks.
While Kevin thought their performance was the best “good bad theater” he has seen in a long time, he does not see Hugo’s Amazing Tape as a legitimate business he would feel comfortable investing in. He is the first to go out.
The sisters pull at the heartstrings of the Sharks by telling them that Hugo’s Amazing Tape was their father’s legacy. They wanted the business to succeed in his memory, and they believed it indeed was a fantastic product and that there was nothing quite like it on the market today. Their father’s invention was a reusable tape that stuck to itself and any surface under any conditions.
Though he admires their efforts for their later father, Robert also does not see it as a real business opportunity. The loss of the patent and the costs of distribution were too much for him; he is out also.
Mark and Lauri have been talking among themselves. They like the product and think it works as advertised. Lauri tested it with water, and it worked amazingly well, leaving no residue. The two entrepreneurs believe the business has potential, but do not think the two sisters are up to the task in a complex and competitive marketplace. Mark and Lauri want to buy them out entirely. They offer $100,000 for the business in exchange for the promise that they will take good care of Hugo’s legacy.
The two sisters looked at each other. They thought about their father and what his invention meant to him and their family. If Mark and Lauri could take Hugo’s Amazing Tape and make it a success, that would be a great legacy. They accepted the deal and walked away with a nice sum of money.
The Legacy Lives On: Hugo’s Amazing Tape After Shark Tank
Hugo’s Amazing Tape is available in Walmart stores and their online catalog, as well as through Amazon. Chances are your local hobby shop also stocks it in a variety of sizes and colors.
Mark and Lauri are no longer involved in the business after having sold it when they made their money back.
The bottom line is that Hugo’s name and the product have lived on. He would be proud that his daughters performed so well on national television and that Hugo’s Amazing Tape is a success. Their website still chronicles Hugo’s history and the story of how he invented Hugo’s Amazing Tape and traveled around the country to sell it.
Disclaimer: The information provided in this article is strictly informational; INSIGNIA SEO is not affiliated with Hugo’s Amazing Tape, SharkTank, or any of its subsidiaries.