Garage Door Lock got an investment from Daymond John
1. The Garage Door Lock protects your garage door from being broken into by thieves.
2. Most garage doors don't have secure locking mechanisms, making it the easiest way for burglars to enter your home.
3. It's an electronic locking system that works via a remote control you operate from your car.View Similar Products at Amazon.com →
I'm a little surprised that Bryan got an offer for his product - and one that was somewhat respectable, to boot. Garage Door Lock seems like a useful, worthwhile product, but I do think he has a long way to go to make it a viable fixture in the marketplace.
Yes, it is a security system, and the price has to reflect that, but I think the price of the system is too high for most people. There's also the problem of it being a DIY product that can take several hours to install. Those both seem like big strikes against it.
I'd rather see it be licensed to a security company who could fold it into their existing services and pay Bryan a royalty. Maybe that will be the direction that Daymond goes with it - he did mention that he wanted to license it.
So, after turning down Robert's offer to take 70% of the company (!), Bryan made a deal with Daymond for only 35% - still a high number, but obviously not as high as 70%.