Avin Samtani grew up in Hong Kong, Avin is well-versed, with an internationally cultured mindset. Avin moved to New York in 2001 and he graduated with a BBA in Marketingfrom Hofstra University.
Avin immediately moved into the workforce with a strongfocus in sales. Avin and the rest of the founders left their careers to grow their business.
After launching AquaVault, all three Co-Founders (Avin Samtani, Jonathan Kinas & Rob Peck) moved to South Florida, the resort capital of the U.S to grow their business.
AquaVault also appeared on the US hit TV show Shark Tank where Daymond John invested in them.
AquaVault can now be found at over 100 properties worldwide and has expanded into the Cruise ship & Theme park industries.
1) How did you come up with the idea for the Aqua Vault?
We were at a resort in Miami a few years ago and wanted to take a quick dip in the ocean. We did what most people would do when you want to go for a swim and put our valuables in our shoes or under or towels and hoped it would be there when we got back. We came back just a few minutes later and everything was gone. We couldn’t believe it and later thought, “there should be a safe that attaches to your chair to store your stuff”. The lightbulb went off and the idea for AquaVault was born. One of my partners started sketching designs on a napkin and here we are today.
2) Do you think it is negative that we are seeing online businesses such as Uber and Spotify make the younger generation not want to make a product and just try the simple route of starting an online business?
I do not. They’re two totally separate types of businesses and there is always going to be a need for service related businesses and product making. Uber and Spotify are outstanding platforms and are a part of millions of peoples daily lives. I personally use both of them several times a week. There is no simple route in starting any business. I encourage the younger generation to go with their passion, whether its in inventing products, creating new industries or through innovation.
3) How did your experience on Shark Tank help your business?
Our sales have been explosive post Shark Tank. We’ve received distribution inquiries and interest from around the world, which we most likely wouldn’t have gotten otherwise. Daymond is also a fantastic partner and provides us with the guidance we were looking for. AquaVault is still a new concept, so getting on the show definitely helped build our brand awareness.
4) Where will the Aqua Vault be going next?
We are constantly expanding to other countries. We’re aiming to be a staple at every resort, cruise ship and theme park world wide. When you want to store your valuables at the beach, pool, or at the water park you use an Aqua Vault and thats what we are working to build. We also have a few new products rolling out soon.
5) What advice would you give to young entrepreneurs who want to start a business?
You have to be passionate about your idea. Ask yourself if you have what it takes to start your own business. Research your idea and see if its been done before. If it has, how is yours different? If its a new concept, put together a plan and test it out. Starting a business is no easy task. Most businesses eventually lose steam and fail within the first few years. There is a difference between a hobby and something you can make a living off and live your dream.
We would like to thank Avin for speaking with us.