Investors Wanted
By Rich Figel
Anyone out there watching Shark Tank on Friday nights? That's the ABC reality show in which entrepreneurs and inventors pitch new products or services to actual investors -- successful business people, who have made millions of dollars through their own ventures. The show prefaces each presentation with brief back stories on the entrepreneurs so that we might have a rooting interest in them. But as the series name implies, the investors can be cold, even ruthless in assessing the profit potential of the schemes and dreams laid out before them.
It can be amusing listening to some of the more fanciful ideas that get rejected. It can also be heartbreaking to hear someone tell how they've invested their live savings in something they believe in, only to have the Sharks rip it apart. Their caustic remarks serve as a nasty reminder that there's a fine line between passion and delusion.
As producer of the Career Changers TV show on OC16, I have met local inventors and entrepreneurs who have been candidates for appearing on Shark Tank, but didn't make the cut. One of them is Daniel Ward, creator of Hawaiian Chariot wheelchair motorbikes. We featured him in last month's episode, and recounted how an accident put him in a wheelchair several years ago. Yet his passion for motorcycles, and ability to think outside the box kept him moving forward in pursuit of a dream: making an affordable vehicle for wheelchair users that was practical and could be mass produced. The only real vehicle option for people like him has been adapted vans, which cost around $40,000 each.
Daniel received grant money that enabled him to design a prototype and meet with manufacturers in China. In fact, while he was having dinner with Chinese engineers there, Daniel got the idea from the Lazy Susan on the table for his turntable design so the wheelchair user could enter the vehicle, then easily rotate inside the cab area to face the steering handle. There were a number of things he had to figure out before he could market the Hawaiian Chariot motorbikes... getting financing was part of that.
He would up going in front of the Sharks, and says they were brutal. Despite the research he presented showing there were millions of wheelchair users that could be potential buyers, the Sharks didn't feel it would be a profitable business. According to Daniel, one of the producers called him afterwards and said they would not be airing the segment because they felt the Sharks were too hard on him. Translation: beating up on a guy in a wheelchair made the Sharks look like insensitive you-know-whats. Their rejection did not deter him, however.
When we filmed the segment towards the end of last year, he had just gotten necessary federal approvals that made his vehicle street legal -- one of the last obstacles to selling his product. Then just before we were about to start running the finished piece on Career Changers, Daniel contacted me and said we might have to pull it. Over the holidays, his health took a turn for the worse. People in wheelchairs are susceptible to infections, and his infection was bad enough to require surgery. On top of that, while driving in his adapted van, he was in a car accident that led to other physical problems. He was concerned that he couldn't continue running the Hawaiian Chariots company, and was looking to sell it.
We talked it over and decided to run the segment as is, but added an introduction saying he's looking for a partner or investor to keep his dream alive. The thing is, it's not just about making money for him. He's committed to helping wounded war veterans and is donating vehicles to that cause. And at an estimated retail cost of $16,000 per unit, Daniel believes many wheelchair users' lives would be greatly improved by having more mobility at a price they can afford. I've searched online to see if there are any similar vehicles to his on the marketplace, and could only find high end custom made models or home-made models that haven't met federal or state standards for road safety.
Daniel's health has improved, and he maintains his optimistic outlook. But if anyone can offer suggestions or is interested in partnering with him, please drop me an email < richfigel@gmail.com > or call Daniel at (808) 636-2014. You can watch the video segment we produced by clicking here.
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On a related note, I'm in the process of trying to do a smaller scale local version of the Shark Tank idea as an on-going Career Changers TV segment. I have a couple of local "angel" investors/business consultants who are interested in participating. Now I just need to find some worthy pitch candidates! If you have a new product or service and are looking for investors, send your elevator pitch to me via email. At the very least, you may get some local exposure... as many Shark Tank "rejects" have found, just being on the show has increased sales for many of them.
For daily viewing times, please visit www.CareerChangers.TV. You can also watch segments from past and current shows on the CCTV YouTube Channel.





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