The GameFace Company produces full-face peel-off masks to equip sports lovers to show off their love to their favorite teams on sports days.
It has now become a history in the US for people to paint their faces and sometimes their chests to show love and support for their favored groups during live events.
Whether it is football, basketball, baseball, or hockey, the concept of choosing what to wear and participating in live sports events has no bounds.
After removing the paint, some people may perceive the experience as delightful, while others may not.
Company Overview in Shark Tank
|Company Name||The GameFace Company|
|Website / Social Media||https://thegamefacecompany.com/|
|Episode||Season 4 Episode 12|
|Product Offering||Interim and whole facial masks and tattoos|
|Required Investment||$450,000 for 25% stake of the company|
|Closing Deal||$450,000 For 35% + 10% Royalty Until Repaid of the Business|
|Offered Sharks||Lori Greiner & Mark Cuban|
|Current Business Status||In Business|
The face mask from GameFace is a facial covering that works well as an alternative to face painting. Because of its sticky qualities, the mask simply rips off after usage.
The team mask was created to offer support to sports enthusiasts who wanted to show their love for their favorite team. The fans wore the masks from GameFace as their team’s uniforms.
Masks eventually grew to encompass more spheres. For example, you may simply purchase one Halloween mask for fun. With Game Face, you will not have to deal with uncomfortable or dirty masks.
Furthermore, university football players started to acquire facial tattoos, which were subsequently laid out in other places. A lengthy line of professional sports clubs is waiting to have their team colors transformed into a Game Face.
For those who do not want to paint their face, GameFace provides temporary tattoos. The company seeks patents and has registered the slogan “Put Your Game Face On.”
Furthermore, it gives a more visually acceptable alternative for supporters who want their faces painted in support of their favorite teams.
Additionally, the company already has hundreds of Face Tattoos accessible in a variety of categories, like the Costume Face, Flag Face, Sports Face, Camo Face, and Girl Face.
Customers may also create customized game faces. Then, the costumes may also be used as character outfits.
Doug Marshall, who lives in Tyler, Texas, founded GameFace. Before creating this company he had a long and famous occupation as a salesperson in several firms.
He has worked for one Taiwanese corporation in Taiwan. Currently, Dallas Commercial Roofing and GameFace are under Doug’s leadership as a CEO.
Doug worked as a financial analyst after finishing his undergraduate studies in the Department of Business Administration at Texas Tech University.
After that, we went back to Tyler, where he eventually got a job with a big finance company. A few years later, he was fed up with his career, which he found uninteresting. Thus, he was looking for something new and exciting.
Throughout his life, Doug had 2 children. It was imperative that he keep a long-term job to give his family the most significant amount of security.
On the other hand, Doug’s product creation concepts and the improvement of his things were not forgotten. Like those of past Shark Tank contestants, Doug’s path started with a dream.
His vision included a definite and vivid picture of 2 football fans, their faces splattered by the searing Texas heat which ruins their team jerseys.
Doug awakened the following day from a dream with a solution to the issue of messy paint on the face. He spent the next year perfecting ‘The GameFace,’ a transfer that temporarily covered the whole face and removed the need for color.
In October 2007, he received a patent for his invention and founded The GameFace Company. The firm has developed consistently but modestly since then. CostumeFace has been introduced to the product range.
The primary goal of this new product is to the profitable Halloween market, which was revealed at Houston’s Halloween Party Expo in 2009, and quickly became a center of attention.
It also requires a significant amount of money and publicity to attain Doug’s goals.
Consequently, In 2012, Doug tried out for Shark Tank, and he was on the show the next year.
When Doug first contacted the Sharks, he asked for $450,000 with a return of 25 percent ownership in his company, The GameFace, in return for the investment.
Doug wore a GameFace product at the game that had the Tradition Glory on it. He said he had the “Patriot Face.” To serve as models for future concepts, he brought along his children, a boy in a sports uniform and a girl with butterfly wings.
Doug demonstrated how simple it was in removing his mask and how safe it was by chewing and swallowing it. There are a variety of uses for his revolutionary face mask gadget, including sports fans and Halloween customers of all ages.
Company revenue for the first 12 months was $6,700. The previous year’s income had an overall of $102,000 after five years. Doug’s proposal was brief and concise. The sharks were intrigued yet wary.
Kevin asked about the company’s value of roughly $200,000 and wanted Doug to clarify. Doug said that the company had 400 common retail sites, the bulk of which were small family-owned businesses.
Furthermore, it had a local licensing arrangement, albeit he did not comment on the value. Mark Cuban sheltered Doug from better-valuated questions for the time being; he just wanted to understand the price of the goods.
Doug said that he bought wholesale units for 2.50 dollars and retailed them for around 5 dollars. Each item ranged in price from 25 to 60 cents. Doug’s profit margin of 102,000 dollars in sales the prior year was questioned by Robert Herjavec.
Doug told him of his earnings of $32,000. ‘The figures simply don’t fit up, according to Robert’s disbelief. Kevin then motioned for Doug’s children to vacate the tank, as they had backed him up throughout his presentation. ‘This might become nasty,’ he said, a little forebodingly.
The business had challenges, but Doug told John that he had a full patent on the product that ensures a monopoly.
Kevin O’Leary was still unhappy with the company’s value. Hence, he brought up the 450,000 dollars investment again.
Kevin made a complete $450,000 deal with Doug, however, the $300,000 compensation component was a loan to Doug. He also asked for a 25-cent royalty per unit sold. This request would end until the investment was returned.
Lori, another Shark, joined the fight with a new deal: she was willing to pay the whole $450,000 with no conditions. However, she wished for a 40 percent stake in the company.
Doug would get one million dollars from Mark Cuban if he bought the whole company. A million dollars would pay Doug $80,000 a year for 5 years. Hence, he would get 400,000 dollars of that money back.
Lori also expressed an interest in joining Mark’s suggested arrangement, which she readily agreed to.
Doug seemed to be overwhelmed by the variety of deals he had received, wanted to contact his family, and got off the show.
It was Mark Cuban’s decision whether or not to accept a 40 percent stock counteroffer from Lori.
Doug gave Mark 35% stock in exchange for a 10% return per unit sold up until there is full repayment of the investment. Mark said that he would take the offer.
Doug hesitated for a moment before concluding that Mark’s offer was more significant. He happily accepted the request, and the 3 of them shook hands after he yelled, “Let’s put our GameFace on!” to Lori and Mark.
The GameFace firm would have significantly benefited from Shark Tank participation.
This product has enormous potential, particularly given the magnitude of Halloween markets and sports franchising.
On the other hand, Doug was someone who would grow much faster with the help and advice of people who had been in business for a long time.
GameFace has evolved much beyond Doug’s part-time enterprise, which he operated at an early stage adjacent to his house during his participation in the program in 2013.
GameFace makes its masks, which may come in a variety of designs and forms. It has a massive selection of patterns that is constantly growing.
At the 2016 Halloween Party in January, the company showcased its newest designs, which have since been licensed.
The company is rapidly becoming one famous household name, particularly in the two profitable categories of Halloween, and sports franchises.
Doug resisted emotional feelings and turned down a million-dollar offer for his corporation. However, when it comes to his own finances, he is suddenly looking at a far more promising future.
The company’s development into the sports sector prompted Doug to broaden GameFace’s products. He promptly added a mask for Halloween to the mix.
Despite the fact that Doug only worked part-time for GameFace, the investment paid off nicely. He’d made a fortune off of the masks. Moreover, Doug decided to stay at work so that he could provide for his family.