The Gift Wrap Cutter Shark Tank Pitch That Won Over Investors

The Gift Wrap Cutter, a simple yet ingenious tool, stole the hearts of Shark Tank investors with its ease of use and practicality.

The inventor, a busy mom, was frustrated with the hassle of cutting gift wrap, which inspired her to create a solution.

She pitched the Gift Wrap Cutter to the Sharks, showcasing how it can be used with any type of gift wrap, making it a versatile and essential tool for anyone who gives gifts.

The Sharks were impressed by the product's potential to simplify gift-giving and make it more enjoyable for people of all ages.

Inventing from a young age can be a game-changer. Founder and CEO Bryan Perla was creating and inventing for as long as he can remember.

Bryan's passion for inventions started at a young age, despite being diagnosed with severe dyslexia in second grade. He was taught to think big-picture, visualize complex problems, and identify needs in the world.

This unique approach to problem-solving led to the creation of Little ELF, a device that helps people cut wrapping paper. Little ELF was designed to solve the annoying issue associated with wrapping presents.

Bryan's high school senior year project, Little ELF, was a device that was Easy, Lightweight, and Fast. He went through many different models before landing on the final design.

After launching Little ELF at a high school fair, the response was amazing. Bryan decided to pursue his idea further, learning more about product development and business.

Designing and developing Little ELF took two years, followed by a 30-day Kickstarter campaign to fund production costs. The campaign exceeded its pledge goal by 700%, with 4,134 backers pledging $130,125 to bring the project to life.

Additional reading: Wine Bottle Wrapping Paper

Bryan Perla asked the sharks for $150k for 15% equity to fund his gift wrap cutter business, Little Elf.

The retail cost of a two-pack is $13.99 on Amazon and $5.99-$7.99 on the company site, with a making cost of $2.09 per unit.

He's done $250,000 in sales so far in 2019, which is a significant milestone for a small business.

Lori Greiner initially offered $150k for 30% equity, but later changed her offer to $150k for a 10% equity + a royalty of $0.75 per unit until $450k is paid.

Kevin O'Leary also made a competitive offer of $150k for a 10% equity + a royalty of $1 per unit until $450k is paid, but later changed it to $150k for 10% equity + a royalty of $0.50 per unit until $450k is paid.

Bryan ultimately accepted Lori's offer of $150k for 20% equity.

Bryan Perla entered the Shark Tank seeking an investment of $150,000 for 15% equity.

The retail cost of a two-pack of Little Elf Gift Wrap Cutter is $13.99 on Amazon, and $5.99-$7.99 on the company site.

The making cost of the product is $2.09, which is a significant margin for the company.

Bryan has already achieved $250,000 in sales as of 2019.

Lori Greiner made the first offer of $150,000 for 30% equity.

Kevin O'Leary also made an offer of $150,000 for 10% equity plus a royalty of $1 per unit until $450,000 is paid.

Lori then changed her offer to $150,000 for 10% equity plus a royalty of $0.75 per unit until $450,000 is paid.

Kevin changed his offer to $150,000 for 10% equity plus a royalty of $0.50 per unit until $450,000 is paid.

Lori made another offer of $150,000 for 20% equity, which was ultimately accepted by Bryan.

The Little Elf Gift Wrap Cutter is a handheld device designed to make gift wrapping easier and eliminate crooked cuts and jagged edges.

It's small, lightweight, and made of plastic, weighing just 4.2 ounces and measuring about 9 inches long. The device has an enclosed steel blade and is safer than scissors or a knife.

The Little Elf Gift Wrap Cutter only fits around rolls of wrapping paper that are 2.25 inches in diameter or smaller, so it's not suitable for oversized rolls.

It's also not effective on extra small rolls, according to reviewers. Despite this, the product has been a best-seller on Amazon in the Gift Wrap Paper Category.

The retail cost of a two-pack is $13.99 on Amazon and $5.99-$7.99 on the company site, with a making cost of just $2.09.

Bryan Perla, the founder of Little Elf, was able to secure a deal with Lori Greiner on Shark Tank, offering $150k for 10% equity + a royalty of $0.75 per unit until $450k is paid.

The Little Elf gift wrap cutter has been a game-changer for many users, with over 13,000 reviews on Amazon alone.

Verified purchasers like Sarah Clemons rave about the product, saying it's the "perfect gadget that I never knew existed." They love how it saves time and makes wrapping presents a breeze.

Tamara Gibbons is another satisfied customer who's thrilled with the gift wrap cutter's performance. It "slid through the paper with ease" and helped her get a nice straight line.

As a pro gifter, Senior Shopping Editor Daria Smith can attest to the cutter's time-saving benefits. It's "a staple in my holiday wrapping arsenal" and has "slashed my gift wrapping time in half."