Benjamin Fossey is the founder and CEO of the Caddy Swag company. This company sells a cooler bag that fits inside the golf bag. Depending on their sizes, the bag can keep 4-6 cans of beer cold. The bag also keeps sandwiches, bottled drinks, and munchies cold.
The company also sells branded re-freezable ice packs and tailgating kits. The company assures that the refreshments will remain cool until the 18th hole.
I established the Caddy Swag in 2006. I joined East Carolina University and graduated with a degree in Communication and Media Studies. Also, I have worked as an account executive in a variety of capacities. During the years, I have been operating the firm as a side-gig. I started to be in charge of the form full-time in the middle of 2017.
One evening, I conceived the concept in a hot tub when friends rested before a golf tournament. They inquired if there was a method to keep beverages cool on the course. This was without paying an expensive course fee or waiting for the drinks cart. Within a year, we were prepared to commercialize our concept. In less than 60 days, the initial batch of 2,000 units was sold out.
We have been able to sell $15,000 worth of merchandise each year. However, we wanted to buy 10,000 devices at the cost of $3 each and increase brand recognition among prospective customers.
My partner Melisa and I decided to porch our product to the Shark Tank investors. We wanted them to assist us in producing and distributing our product. This would elevate Caddy Swag’s marketing to a new level.
We approached the presentation seeking $60,000 for a 20% equity in our firm. This was worth $300,000 value. Kevin Harrington believes that the offering lacks “enough bite” to make the phone ring, so he exits the deal. Barbara Corcoran feels there is a market for the goods. But she believes Caddy Swag is a little firm, and it is too early to invest in it. So we left the show with no deal.
Despite not having a deal with the sharks, Caddy Swag products made many appearances on the talk show, and it is still available online for purchase. The Par Six cooler has generated enough revenue to keep Caddy Swag growing and afloat.
We have also built a niche for ourselves in the golf sector by entering the promotional business. Also, we manufacture bespoke cooler bags for business, promotional events, and even special occasions such as weddings. Additionally, we also offer our goods on Amazon. The firm still operates and has annual revenue of between $900,000 and $1 million.
To a young Benjamin Fossey, before starting your own business, you should look for a way of getting some hands-on experience. This can be easier in some professions than it is in others, and there may be a different way needed for some of them.
We clearly sell products that help golfers in the pursuit of their hobby. Caddy Swag gives promotional offers of ice packs for specific types of coolers, including picnic baskets, golf bags, and wine carriers. The product’s price starts at $9.99, including one cooler pack and a shipping fee of $3. We market ourselves as the “Golfers who golf.”
Also, we currently have a Caddy Swag radio show that features sports celebrities, and it is available on streaming. We have also offered Tiger Woods a $1 million sponsorship. The online golf store Caddy Daddy Golf offers different kinds of golf-related products, including similar-design cooler bags under accessories.