Float N Grill is a grill that floats in water and requires minimal space. It’s the first product of its kind in the U.S. market, allowing users to cook food while enjoying a unique sea view.
Float N Grill appeared on Shark Tank Season 12, Episode 24, seeking funding from the Sharks. The founders, Mikey Bashawaty and Jeremy Quillico, developed and marketed this innovative product.
Many people enjoy boating during the summer holidays and often spend the night on their boats. Due to limited space, it can be challenging to fit all necessary items, including a grill. Traditional backyard grills are too large for small boats, making it difficult to cook food.
To address this issue, Mikey invented Float N Grill in 2017. This grill can float in water, allowing users to cook without damaging the boat.
On Shark Tank, the entrepreneur requested $200,000 for 20% equity at a $2 million valuation. After negotiations, Daniel Lubetzky offered $100,000 plus a $100,000 loan for 22.5% equity and 50% of licensing deals.
Float N Grill is a portable grill designed for use on water, making it ideal for sea parties. It simplifies grilling food while on the water. This portable grill features three built-in cup holders, a removable grease trap, and two tow hooks. The package includes a floating base, a propane grill, and two support brackets with hardware.
The grill weighs 9 pounds, measures 35.5 inches long, 26.5 inches wide, and 6.5 inches tall. It is available in blue and red and is priced at $229 on Amazon.
| Company Name | Float N Grill |
| Founder | Mikey Bashawaty and Jeremy Quillico |
| Founded | 2017 |
| Product | portable grill that floats on water for sea parties |
| Asked For | $200k for 20% equity |
| Final Deal | $100k + $100k loan for 22.5% equity + 7% plus 50% of licensing deals |
| Shark | Daniel Lubetzky |
| Episode (Shark Tank USA) | S12 E24 |
| Air Date | May 14, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Detroit, Michigan, US |
| Lifetime Worth (Sales) | $5.5M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
How Was The Shark Tank Pitch Of Float N Grill?
Mikey Bashawaty and Jeremy Quillico entered Shark Tank with their product, Float N Grill, seeking $200,000 for 20% equity. They shared their story and mentioned that their video showcasing the portable floating grill had gone viral.
They reported manufacturing costs of $126.88 per unit and a selling price of $229. Their total sales for 2020 amounted to $19,400. However, the Sharks were not impressed with these sales figures, and Kevin O’Leary expressed dissatisfaction.
While the other Sharks exited, Daniel Lubetzky showed continued interest. He initially offered $200,000 for 50% equity. In response, Mikey and Jeremy countered with a proposal of a $100,000 loan at a 7% interest rate, $100,000 for 20% equity, and a $2 per unit royalty until the loan was repaid.
Daniel then countered with $100,000 plus a $100,000 loan for 22.5% equity, a 7% interest rate, and 50% of licensing deals. Mikey and Jeremy accepted this offer.
Finalize: Daniel Lubetzky invested $100,000 + $100,000 loan for 22.5% equity + 7% plus 50% of licensing deals.
Float N Grill Shark Tank Update
Float N Grill secured a deal on Shark Tank, with Daniel Lubetzky joining as a partner. The pitch involved extensive negotiation between the entrepreneurs and Daniel, ultimately resulting in a finalized deal.
Effective marketing is crucial for the growth of Float N Grill, as it is the first floating grill product on the market. This grill appeals particularly to sea enthusiasts and fishing enthusiasts.
The business shipped thousands of orders from its warehouse to customers on May 29, 2021. Mike also shared details about the product’s manufacturing process on Instagram.
The Float N Grill was available on Amazon and Wayfair in June 2021. It received notable attention, being featured in Rolling Stone magazine in December 2021 and Us Weekly magazine.
Looking ahead, the entrepreneurs plan to develop accessories for the product. The business requires a solid marketing strategy and additional funding for further growth.
While the Shark Tank episode was successful and the investment from Daniel Lubetzky was secured, there is no confirmation yet on whether the deal has been finalized.
Float’N’Grill LLC has achieved lifetime sales of $1.2 million. Additional information about the business is limited at this time.
What Is Float N Grill’s Net Worth?
The estimated net worth of Float N Grill is approximately $1 million. However, detailed information about the company is currently limited. Marketing efforts and updates about the business are sparse.
The company’s official Instagram account has been inactive since December 2021, and other social media platforms also show little activity.
At present, the entrepreneur is managing the grill business part-time, and the product is marked as “Currently Unavailable” on Amazon.
As of September 2022, Float N Grill is available for pre-order on its official website. Orders placed now will be fulfilled once the product is back in stock.
Yes, Float N Grill is still in business as of April 2024.
