Hear the pitch from Ryan Lane and Xander Chase, co-founders of FTL bags, a revolutionary duffle bag with the functionality of a briefcase, gym bag, and garment bag. Dedicated spaces for your shoes, laptop, and clothes.
Every contestant who has the guts to appear on Entrepreneur Elevator Pitch is just 60 seconds away from a rise to greatness or a fall from glory. By the end of these nerve-wracking episodes, some entrepreneurs will walk away with game-changing investments, and some will go home empty-handed.
Every contestant who has the guts to appear on Entrepreneur Elevator Pitch is just 60 seconds away from a rise to greatness or a fall from glory. By the end of these nerve-wracking episodes, some entrepreneurs will walk away with game-changing investments, and some will go home empty-handed.
Category
🗞
NewsTranscript
00:00Welcome to the elevator.
00:04Four years ago, while working corporate jobs,
00:06we found ourselves facing a similar problem.
00:08We'd set out to for our best days,
00:10early mornings in the gym,
00:11a packed day in the office,
00:13a late night client dinner,
00:14all with trains, cars, and planes in between.
00:17These days came with the burden of carrying multiple bags.
00:20So, we set out to design one bag
00:22that functionally and aesthetically
00:24would serve us on the days we were most proud of.
00:26We believe that we've developed the best bag in the market
00:29and it seems like people are starting to agree.
00:31We're here asking for $40,000
00:33in exchange for 1% of our business
00:34to help us invest in developing new products
00:36and marketing initiatives.
00:37So, we hope you'll join us on the FTL journey.
00:40I love the pitch,
00:41which at least manages to get everything in.
00:43But did you like what you heard?
00:45I loved what I heard.
00:46It was a great pitch.
00:48I guess the only thing for me that was missing was
00:50what differentiates this suitcase
00:52from all the other ones?
00:54Also, how do they get a valuation of $4 million?
00:57If they have lifetime revenue of $250,000,
01:00that's a pretty ambitious ask.
01:05I think there's potentially something interesting
01:07in a royalty deal with an advisory piece.
01:11But I do think that there's been proven traction
01:15on this product from the data we've seen
01:17and the anecdotes we've heard.
01:18So, we're not going to give up this.
01:21If you wanted to come in and do a royalty deal
01:24on the Dobkits,
01:25I think that's something we'd be interested in.
01:32It's got to feel natural to me, it doesn't.
01:33So, I'm going to respectfully pass.
01:35Okay, I understand.
01:37Although we are not able to offer an investment today,
01:40on behalf of Amazon Business,
01:42we do want to gift you $10,000 cash
01:46to help you grow your business.
01:48Wow.
01:49Oh my God.
01:50I got goosebumps.
01:51That is amazing.
01:52Truly.
01:53That's going to help us so much.