SoapSox

Making Bath Time Fun for Kids

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Company Information

Website:

https://soapsoxkids.com/

Sector:

Health & Hygiene

Location:

Los Angeles, CA

Nearly 20 million kids in the U.S. are under the age of four.

In 2017, parents spent $300 million on products aimed at helping these kids enjoy a common but often problematic activity: bath time.

SoapSox was created to assist parents with this task. It’s created a line of plush washcloths in the shape of animals. These cloths hold bar or liquid soap, and have built-in finger pockets to help get young kids clean.

In short, SoapSox makes bath time fun for kids, and easy for parents.

This company has generated more than $3.3 million in lifetime sales. Its patented products are available through Walmart, QVC, Target, and 3,000 specialty stores.

SoapSox is raising capital to expand sales internationally, and introduce new washcloths featuring licensed characters from some of today’s most popular television shows.

For many parents, bath time is a struggle. Kids often argue, cry, or even hide to avoid taking a bath.

As a former Program Director for a residential treatment facility, SoapSox CEO Ray Phillips noticed kids and parents struggling to successfully complete bath time. He also noticed some kids refused to part with stuffed animals in order to take a bath.

Phillips decided to create another kind of stuffed animal, one that could be used during bath time. This was the inspiration for SoapSox.

SoapSox washcloths are sometimes referred to as “fun”ctional plush toys. Each is shaped like a familiar animal, and is specifically designed to hold soap in a cavity in the center. Kids can “feed” it soap during bath time, which helps facilitate hygiene through play.

The cloth characters have friendly names like “Taylor the Turtle” and “Harper the Hippo,” and each comes with a backstory to engage the child’s imagination. Each SoapSox retails for $9.99.

SoapSox launched in 2013, raising $52,000 through a funding campaign on Kickstarter, a crowdfunding platform. In 2014, it received an award from the Juvenile Products Manufacturers Association.

That same year, SoapSox appeared on the hit reality television show “Shark Tank.” The company received offers from several “sharks,” including multiple offers to buy out the business.

In 2015, SoapSox was issued design and utility patents. Then, in 2016, it established a strategic licensing deal with Disney to create familiar Disney character-washcloths.

Most recently, SoapSox partnered with The Honest Company and created retail partnerships with Walmart, Target, and Amazon.

75% of SoapSox’s customers are repeat buyers, and the company is on track to double its 2018 sales and achieve $400,000 in profits. SoapSox has 686,000 customers and its products hold a 4.2-star rating on Amazon.

Moving forward, SoapSox will use its licensing partnership with Ginsey Home Solutions, a supplier of bath and laundry products, to introduce characters from popular TV shows including “Paw Patrol” and “Sesame Street.”

SoapSox will begin selling special Paw Patrol washcloths in February 2020. This is one of the most popular kids shows in the world, responsible for more than $300 million in annual toy sales.

The company is also developing a new product called Dino Sounders. These washcloths will feature speaker technology that will enable the products to emit sounds while in the water.

SoapSox also plans to expand internationally to Canada, Germany, China, Australia, and the UK.

Team Background

Ray Phillips - CEO & Director

Prior to starting SoapSox, Ray spent 16 years as Program Director for a residential treatment facility for children.

While there, he provided mental health services to families, and it was this experience that led him to create SoapSox.

Ray earned a Bachelor’s degree in Psychology from the University of California, Riverside.

Alvin Uy - Vice President & Creative Director

Alvin has 18 years of experience in product development and graphic design.

In addition to his role with SoapSox, he is the owner of A2Z Ventures, a company specializing in real estate and construction.

He spent 15 years as CEO of Insight Creative Group, a design agency focused on brand development for consumer packaged goods and products.

He earned a degree in Aerospace Engineering from California State Polytechnic University and studied Graphic Design from ArtCenter College of Design.

Raising
$107K
Committed
$26K (25%)
Current Valuation
$6.20 million
Min. Investment
$240
Deal Type
Title III
(For all investors)
Offering Type
Equity
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