Hot Tot on Shark Tank
Hot Tot Haircare Products
Hot Tot entrepreneur Megan Gage presented her new kids’ hair care products to the Sharks in episode 412 of Shark Tank. Megan created Hot Tot because she was concerned about potentially harmful chemicals and artificial fragrances in children’s haircare products. She set out to develop a children’s shampoo that was free of harsh chemicals.
Meagan Gage Pitches Hot Tot to Shark Tank
When Ms. Gage approached the Sharks, she had only been in business for 15 months. She only had $20,000 in sales. She was seeking $50,000 for a 15% share in the business. She made a deal with Mark Cuban, selling him $75,000 for 40% of the Hot Tot business. After making the deal with Mark Cuban, Ms. Gage used some of the money to perform clinical testing on her product and proved that it was hypoallergenic.
What about Hot Tot’s Patents?
Oddly the conversation about Hot Tot did not include a discussion of Ms. Gage’s patent portfolio. Any new (i.e., different) composition is potentially patentable. For haircare products, an inventor could pursue a patent for the composition of matter. Here is a video of Ms. Gage describing the Hot Tot invention.
According to Ms. Gage, Hot Tot filled an unmet need for need for specialized styling options. Hot Tot is the only professional line formulated for the physical characteristics of children’s hair. The product is different from haircare products formulated for adults. Hot Tot uses a “unique combination” of highly effective natural ingredients. The product washes out of fine hair easily. Additionally, the Hot Tot line uses a unique “signature” fragrance inspired by the scent of cabbage patch doll. Lastly, the Hot Tot line provides products that are substantially free from a list of ingredients commonly found in other products.
According to the Hot Tot website, these are the shampoo’s ingredients:
Water, Disodium Lauryl Sulfosuccinate, Sodium Lauroamphohydroxypropylsulfonate, Cocamidopropyl Hydroxysultaine, Cocamide MIPA, Cocamidopropyl Betaine, Decyl Glucoside, Aloe Barbadensis (Aloe Vera Gel), Panthenol (Vitamin B-5), Glycerin, Camellia Sinensis (Green Tea) Leaf Extract, Methyl Gluceth-20, Oleth-10, Lactoperoxidase, Glucose Oxidase, Potassium Sorbate, Fragrance.
These ingredients were all known in the art at the time Ms. Gage made her invention. However, her finished products (the Hot Tot line) are new because they include new combinations of these compounds. Additionally, Hot Tot’s “signature fragrance” appears to distinguish it from other haircare products, offering another opportunity to distinguish the invention base on the fragrance.