A Stainless Steel Coffee Jouliy (pronounced Coffee Jewelies) is a great way to keep your coffee cool while you drink it.
In episode 414, a thermal beverage regulator was shown for the first time, guaranteeing a consistently delicious cup of coffee.
David Jackson and David Petrillo, two entrepreneurs, engineers, friends, and coffee enthusiasts, are another successful Kickstarter project making its way to Shark Tank.
To create their heat-regulating coffee beans, the two raised over $300,000 and were able to set up a production line in just a few months.
Sherrill Manufacturing, a silverware manufacturer, makes the Coffee Joulies in upstate New York.
What Is Coffee Joulies?
A phase-change polymer is used to create the tiny beads known as Coffee Joulies. You can pour them directly into coffee or sandwich them between the walls of your Joulies coffee cup.
This phase-shifting capsule is made to go into a cup of coffee and change the flavor. Because hot coffee loses heat as you drink it, it’s best to serve it at a moderate temperature so it doesn’t cool too quickly.
Therefore, the coffee stays at an ideal sipping temperature for an extended time. The coffee beans have the property of absorbing and reflecting heat.
Coffee can be served at a drinkable temperature thanks to the quick absorption of heat by the Joulies (140 degrees).
A steady temperature is maintained for several hours once the Joulies reach 140 degrees.
|Company Name||Coffee Joulies|
|Entrepreneur||Dave Jackson And Dave Pertrillo|
|Product||A stainless steel bean with heat-absorbing properties that keep coffee at the perfect temperature|
|Investment Asking For||$150,000 For 5% equity in Coffee Joulies|
|Final Deal||$150,000 For a royalty of $6 per unit until $150,000 is repaid|
|Shark||Kevin O’Leary, Lori Greiner, Daymond John, And Robert Herjavec|
|Episode||Season 4 Episode 15|
|Business Status||In Business|
Who Is The Founder Of Coffee Joulies?
Dave Pentrillo and Dave Jackson collaborated on the design of the Coffee Joulies. When Dave Pentrillo graduated from college in 1993, he started his career at Lutron Electronics as a mechanical engineering student.
President of Coffee Joulies was a role he has held since 2011. In addition to running Coffee Joulies, he has been a full-time engineer.
The mechanical engineering degree of Dave Jackson was obtained at the same time as Pentrillo’s. He is a mechanical engineer and a co-owner of Coffee Joulies, a coffee shop.
Initial production of Joulies was done by the Daves. When they launched Kickstarter a year later, they raised $306,944 in just over two months.
Due to its enormous success, the Kickstarter campaign was inducted into the Kickstarter Hall of Fame, giving it much-needed exposure and raising awareness of the brand.
Julies’ commercial production was also made possible by Kickstarter, which provided the Daves with the funds they needed.
The Shopify Build-a-Business competition crowned the company a winner in the same year.
Coffee Joulies Before Shark Tank
Dave Petrillo and Dave Jackson, two mechanical engineers from New Jersey, came up with the idea for the Coffee Joulies.
To cool down a hot beverage, the Joulies were small stainless-steel capsules filled with an ingenious substance.
These capsules could maintain their temperature for a much longer time in this manner.
In March 2011, they launched a Kickstarter campaign to raise money for their project. In just three days, they had achieved their goal of $9,500, which they had set for themselves.
Their campaign had come to a close with a significant boost from Kickstarter. 4,800 backers contributed more than $300,000 to see their project through to fruition.
A combination of their initial success and substantial financial backing allowed them to complete the production process and turn the concept they had conceived into a finished product.
How Was The Shark Tank Pitch Of Coffee Joulies?
Coffee Joulies was the subject of a pitch on Shark Tank episode 413, presented by Dave Jackson and Dave Petrillo. In exchange for a 5% stake in the company, they’re looking for a $150,000 investment.
Because they are made of a proprietary material, when heated to a high temperature, the Coffee Joulies will melt and then solidify, re-distributing the heat to the beverage.
The couple claims the device can keep coffee at 140 degrees for up to five hours when demonstrating it to Sharks.
Even after three hours, the Sharks coffee is still hot and fresh.
Joulies come in a pack of five for $50, and each one costs $3.60 to make. Last year, the company brought in $575,001 in revenue and made a profit of $50,000, resulting in a positive cash flow.
Bed Bath and Beyond and OfficeMax have signed agreements with the company, allowing it to expect sales of more than one million in the next year.
Daymond The remaining Sharks, according to John, are “ready to perform some truly intrusive surgery” on the couple in regards to the 5 percent. He’s gone now.
However, he wants a 33% stake in any company that he finances. O’Leary is intrigued.
He gives them $150,000 in exchange for $6 in sales at first, and then $1. After that, he gets his money back, and the deal is done.
One of the participants in the arrangement is Lori Greiner who brings her QVC connections to bear on the deal. Additionally, Robert Herjavec offers Bed Bath and Beyond contacts as a sweetener to the deal.
Daymond John wants to be part of the Sharks’ deal. Introducing himself as “Mr. Retail,” Kevin O’Leary persuades him to join in the deal.
For a 12.5% stake in the company, Mark Cuban is willing to pay $250,000 in cash. Among the Sharks’ many disagreements is how to best market the product.
Consult a friend about the available offers Jackson and Petrillo decide to do. While Jackson and Petrillo are absent from the room, the Sharks discuss the offer.
As a result, O’Leary negotiates a lower wholesale royalty rate of $3.
Coffee Joulies is launched as part of a Shark agreement under the terms of a four-Shark agreement.
What Happened To Coffee Joulies After Shark Tank?
Coffee Joulies’ appearance on the Shark Tank and the sharks’ attention has led to an increase in their popularity.
A cash prize and high-end marketing advice were included in the prize package they received from Shopify prior to their appearance on the show.
They’ve had a lot of help from a lot of people, and their online sales have gone through the roof thanks to all of it.
However, this product is no longer offered by Bed Bath and Beyond.
Ceramic mugs, which retain heat from hot liquids, have received mostly negative feedback for this product.
It is possible to keep a product warm for a shorter period of time in this situation. Thermos insulated mugs can be purchased with Coffee Joulies at a reasonable and well-marketed discount on both the friendly-looking website and Amazon.
To keep a scotch cool and drinkable, Booze Joulies, a similar product, was introduced in 2015.
The Daves persevered in the face of adversity and never gave up on their dream of building the Joulies brand, eventually achieving it.
Wishing them all the best in the future, I’ll toast them with a slightly lukewarm cup of coffee.
Coffee Joulies Shark Tank Update
Shark Tank gave Coffee Joulies a much-needed boost, but their agreement with the Sharks was never completed.
Even though Bed Bath and Beyond briefly sold a knock-off product, Coffee Joulies are still available through their website and other retailers like Amazon. According to reports, the Sharks and Coffee Joulies have struck a lucrative deal.
Coffee Joulies’ website is still up and running, but all of the items listed as “in stock” have already been purchased.
Amazon does not currently have them in stock. Petrillo has been working for Peleton since May 2019, while both men describe their companies as “open” on LinkedIn.
Is Coffee Joulies Still In Business?
Following Shark Tank’s new inventions, the agreement was never completed. Since it cools hot temperatures so that your tongue is never burned and releases heat gradually, it is attractive to customers because it heats your cup of coffee or tea.
Consumers enjoy trying new things, and this helps the business make money because of that fact. Because they could be purchased online, these products could also be sold to people all over the world.
It costs $50 for a set of five Joulies, each of which costs $3.60. First-year revenue and profit totaled $575,000 and $50,000, respectively, for the company’s first year in business.
Bed Bath & Beyond and OfficeMax contracts are expected to generate one million dollars in sales for the company.
Despite Bed Bath & Beyond’s promotion of knock-off products, the creator of Coffee Joulies never shut down the website.
On Amazon, you can still get them. The company’s website has not been updated since 2017, according to the most recent 2022 update. Despite the fact that its public LinkedIn profile is not listed, it does not have any products on Amazon.