Athletes use athletic tape to help alleviate pain and prevent further injuries. Seneca Hampton created a premium version of this tape that is durable and also easy to tear off. Seneca pitched his business Hampton Adams on Shark Tank but didn’t get a deal. As of 2022, Hampton Adams is worth $3 million.
About the Founder
Seneca Hampton was raised by an underprivileged family in Los Angeles, California. Things got better financially when his mother became a nurse and his father became a football coach. Still, he was determined to be more successful.
As he grew older, he realized that building a business was the path to wealth. Robert Kiyosaki’s Rich Dad, Poor Dad book, changed his whole mindset on money. He started out in customer service at Apple for more than four years.
During his time there, a coworker connected him to people who were selling lightbulbs on Amazon. Seneca joined the company and learned how to successfully run an eCommerce business.
Founding the Company
He struck out on his own after learning how to run a business on Amazon. But first, he looked for a product to sell. Because he grew up playing football with his old man, he got the idea of improving athletic tape.
The LA native spent a lot of time developing a tape that was more durable than traditional athletic tapes. He also made it so that it left no glue residue, and featured a tough adhesive that gives maximum comfort.
With a $700 investment, he started the company in 2016, selling out in only a week. The Hampton Adams tape was selling successfully on Amazon’s platform. By 2022, the startup has already made $12.2 million in lifetime sales.
Shark Tank Appearance
Seneca Hampton appeared on season 13 of Shark Tank, asking for $500,000 for 10%. The pitch went well, with Seneca demonstrating the strength of the tape by lifting a 45-pound weight. The Sharks liked the product but believed it wasn’t investable due to the business model.
Despite making $5 million in annual sales, the product is a low-margin, high volume business. As a result, the founder has to keep reinvesting profits into advertising to keep it going smoothly. Cuban and Herjavec suggested selling the entire company. Kevin O’Leary made a greedy royalty offer which the founder rejected. A royalty deal could have destroyed the business.
After Shark Tank
After appearing on the show, the publicity gave his brand a nice boost in visibility and gave Seneca more motivation to continue the business. The athletic tape is still selling well and he introduced a new line of products including finger tapes, ice packs, and elastic bandages. They are available to buy on Amazon and HamptonAdams.com.
On Amazon, the tape has a rating of 4.6 from over 6,800 customer reviews. Hampton Adams is thriving and is worth an estimated $3 million. No recent sales figures have been released but the company should still be doing $5 million in annual sales.
As suggested by the Sharks, Seneca could potentially sell the business and start a new eCommerce venture with higher margins.