When 2020 commenced, AquaVault was a smaller, travel-relevant company hunting forward to its most promising calendar year nevertheless. The corporation was mainly identified for providing FlexSafe, a modest, transportable “safe” for people today on the go.
Built of a slash-resistant, drinking water-resistant, lightweight but large-responsibility fabric, the innovative solution was a scenario built to shield valuables—at the seashore, a pool, on a cruise, or at a waterpark—by locking it to a set item (like a seaside chair, desk or railing).
The company’s three co-founders, Jonathan Kinas, Rob Peck and Avin Samtani, experienced snagged an overall look on the ABC truth exhibit Shark Tank, securing funding from Shark investor Daymond John. The broadcast engendered priceless publicity and greater Aquavault’s model recognition, assisting it increase exponentially.
Then the pandemic strike. “All of a sudden the entire world will get strike by a situation we’ve in no way observed in modern background,” says Kinas.
AquaVault was just one particular of several travel companies—both big and small—forced to rethink their providers and products and solutions. This has led to succession of seismic improvements across the industry, affecting air travel, accommodations, cruises, excursions and more—an existential disaster for AquaVault. If they were to endure, they had to adapt.
“After expending years setting up interactions with our clients—hotels, concept parks, drinking water parks and cruise ships—we have been shaken,” claims Kinas. The three partners recognized they had to pivot.
Necessity as the mom of invention
Possessing fulfilled in school, the trio remained close friends later on but with no inkling they would someday wind up in business collectively. What designed them get associated in a journey-related business? “We stumbled on it,” Kinas points out.
Formerly, Kinas was a money adviser at Merrill Lynch Peck had commenced a industrial flooring company and Samtani led a workforce at a non-public mortgage loan financial institution in Manhattan.
About 10 decades back, the three met up for the weekend at the marriage ceremony of mutual good friends in South Beach front. On their initial working day at the vacation resort, Kinas decided to go for a swim at the pool, inserting his valuables in his shoe, and tucking them under his lounge chair. When he returned, they had been long gone. Within just hours, he uncovered that he was not the only sufferer that working day.
“Immediately, a light went off,” states Kinas. “We understood we had arrive up with an plan that experienced substantial potential.” They sketched a style on a serviette. “Our to start with connect with was to a patent legal professional and our journey started,” he suggests.
In 2015, they remaining their respective employment to establish the enterprise. More than time, they produced a $26.5 million organization, landing sought-immediately after accounts with significant stores like Disney Entire world, Mattress Bathtub and Further than, Bass Pro Outlets, and some others. They also expanded their solution line to include things like other journey-linked solutions including the PhoneVault, a biometric lock, and a water-resistant mobile phone pouch
The start of the ChargeCard: Adapting to the pandemic
Kinas admits that they built loads of blunders alongside the way. “But we discovered how to lower losses when required,” he says.
When the principals observed their strongest first quarter get a remarkable downturn in 2020, they sat down to assess the overall landscape and figure out up coming measures. They commenced conjuring up ideas, returning to one particular having to do with cell phones, devices that have develop into so ubiquitous in people’s lives whether or not they are touring, commuting, grocery-purchasing, or strolling or biking in their neighborhoods.
For their up coming additional pandemic-proof invention, they came up with the concept of an extremely-slender, credit score-card-measurement transportable telephone charger and aptly named it ChargeCard. “We have all been in cases when we are on the go and our phone is times away from going dead,” states Kinas.
Housed in a stainless metal situation, the charger comes with developed-in cables for both iPhones and Android equipment (USB-C, Lightning and Micro USB). The dimensions is compact adequate (3.4” X 2.4” X .25”) and light-weight sufficient (3.5 ounces), so generating it straightforward and handy to slip into a wallet, pocket or purse.
The solution is journey-associated but is just as realistic for use closer to property. Constructing on the similar finance and marketing and advertising competencies, and creation and B2B contacts that catapulted them to success at first, they clinched promotions with motels that approach to offer the charger to company who have overlooked their charging cables at dwelling or who need to have an extra cost when they are not near to an electrical outlet. Some upscale homes approach to sustain a stash of ChargeCards for attendees to bank loan them as a beach front or poolside amenity. AquaVault also sells them directly to people on the net.
Classes figured out
Kinas explains that even when you have a very good product or service, competitiveness is unavoidable. In a worldwide economy, any person can constantly make it a lot quicker and a lot more cheaply. “In a earth where by sixth gear is the conventional pace,” he claims, “you have to get time to action absent from the perpetual grind and ‘recharge’ your own batteries.”
“When the times get rough, as they unquestionably will, make positive you’re geared up to roll up your sleeves and climate the volatility simply because storms are unavoidable,” he provides. ”Entrepreneurship is the furthest point from a clean trip or a predictable journey.”
Correctly driving out a pandemic also will take some moxie.