What is the Product?
The Drip Drop is an edible ring that slides up onto an ice cream cone and catches the melting drips. This product checks three important boxes: it solves a problem, it tastes good, and it's environmentally friendly. For every ice cream cone that's eaten, there's an average of 3 napkins used to help clean the mess. By using a Drip Drop, you're doing more than just stopping the drips, you're also saving the environment. Our goal is to increase the enjoyment of eating ice cream by eliminating the mess and adding a cookie treat! Currently the Drip Drop comes in two flavors: plain and chocolate covered. The Drip Drop can be decorated with sprinkles, M&M's, etc. Eventually we plan to offer other flavors including a gluten free option.
The Drip Drop is for Everyone!
We (Sam and Oliver) first created this project in 5th grade. Being middle schoolers, we loved to eat ice cream but always ran into the issue of melting drips and messy hands and clothes! This was an the issue that we set out to solve in our school invention competition. After lots of tinkering and prototyping the first Drip Drop came to life. We ended up winning second in the competition but most importantly, our school offered to fund a patent application. We hired a patent lawyer and the process took about 3 years of a lot of back and forth and finally in 2015, we received a design patent that secures our product.
Shark Tank Experience
In 2015, during our Freshman year of high school, we applied to the ABC hit show, Shark Tank. Out of 60,000 applications we were lucky enough to be selected into a group of about 120 who made it on the show. We ended up being the youngest kids to ever enter the Shark Tank unaccompanied by an adult. Following lots of questions from the Sharks we struck a deal with Barbara Corcoran for $50,000 in exchange for 33% of our company. Following the show we attempted to license our idea to ice cream cone manufacturers but they told us it would be too costly especially since we didn't have proven sales. They suggested we return once we had proved our product. Barbara was only interested in investing if we received a licensing deal so unfortunately our deal never closed (we later learned over 50% of the deals, where offers are accepted, don't close).
We need your help. We have the manufacturing plan in place and now we need money to move forward!
Drip Drop Test Market
In 2016, we made 50 Drip Drops and sold them to a local ice cream shop to test the market. Despite the rain that night and with zero marketing we sold out of our Drip Drops in just 3 hours. This test proved that there's demand for our product but we'd like to expand our test to a larger Denver market before spending money on packaging and distribution. Once we prove sales and reorders in Denver market we plan to expand into other markets. We already have a list of distributors, retail locations and consumers who want to purchase Drip Drops. The ice cream industry continues to grow in the United States and globally, with sales of $78.8 billion by 2025. That's a LOT of Drip Drops!
Where Will your Money Go?
We're now planning to manufacture the Drip Drops and need your money to help make this happen! Currently, we're working with a silicone mold to make our Drip Drops, but after working with a pastry chef we realize that a metal non-stick mold would create a better product. A metal mold will allow us to bake the Drip Drop faster and decrease imperfections.
We're working with a company who solves and creates commercial baking solutions.They're ready to machine-tool a custom metal mold that will bake 24 Drip Drops at a time. This will cost $5,000 to produce and ship. Additionally, we'll need money to purchase ingredients and commercial kitchen time before we can deliver our product to the Denver market. We need $7,000 to take our Drip Drop to the next stage.
Once we purchase this 24 piece sheet pan, we will start out by selling Drip Drops locally. We want to get a sense of what flavors sell and how much we can charge. Our Shark Tank episode has aired nationally 3 times and numerous times on MSNBC, and each time we receive inquiries and orders from around the world! Customers are patiently waiting for their Drip Drops.
We have lots of cool merchandise... check our swag on the Drip Drop website: www.dripdropcone.com
Follow our Social Media/Website!
Risks and challenges
Being two high schoolers, we need to find a balance between work and academics. We've come up with several ways to tackle this challenge.
We've "hired" one of our parents to work on this full-time. We have friends who have committed time and we plan to spend all our free time moving our company forward.
Packaging and Distribution will be challenging so we've been creating a group of advisors mostly in the Denver community to help and advise us along our journey. Denver is a huge incubator in the food start up arena, food production, packaging and distribution, we're lucky to have so many great resources in our back yard.
We plan to follow this through and reach our ultimate goal of walking into an ice cream store and seeing Drip Drops stacked on shelves and consumers enjoying the taste and benefits that the Drip Drop will provide! We'll do anything to accomplish this goal but need your help! Thank you in advance for any help you can give us...
Let it Drip,
Sam & Oliver aka "The Drip Drop Boys"
- (30 days)