Welcome to an exciting update on one of Shark Tank’s biggest success stories – Scrub Daddy! As you may already know, Scrub Daddy is a household name, thanks to its innovative, smiley-faced scrubbing sponge that quickly captured the hearts of consumers across the nation. In this post, we’ll dive deep into the story of Scrub Daddy – from its Shark Tank debut to its continued success today. So, let’s get started and explore the journey of this remarkable product together!
Introduction
Shark Tank is an American reality television show that gives entrepreneurs the opportunity to pitch their ideas to a panel of successful investors, known as “sharks”. One of the most successful and intriguing products to come out of Shark Tank is the Scrub Daddy. In this article, we will provide an update on the Scrub Daddy success story and take a closer look at the inventor, Aaron Krauss, and his journey from the show to where he is now.
The Scrub Daddy
The Scrub Daddy is a high-tech kitchen scrubbing tool that can change texture by adjusting water temperature. With its unique smiles shape and bright colors, it quickly became a hit with Shark Tank viewers. The product is made of a special foam that softens in warm water and hardens in cold water, allowing it to scrub away tough stains without scratching surfaces.
The Inventor, Aaron Krauss
Aaron Krauss is the inventor of the Scrub Daddy and the entrepreneur behind the business. He appeared on Shark Tank in 2012 seeking a $100,000 investment in exchange for 10% equity in his company. He impressed investors with his pitch and secured a deal with investor Lori Greiner, who is known as the “Queen of QVC”.
Since appearing on Shark Tank, Krauss has been on QVC three times and has made over $100,000 in sales in just four months. He has also sold the Scrub Daddy in five Philadelphia supermarkets and on the company website.
The Next Step: Independent Manufacturing
Despite initial success, Krauss knew he needed to increase production to meet the growing demand for his product. To achieve this, he wanted to set up an independent manufacturing facility with automated equipment. With a patent and two more pending, as well as a trademark and domain names, he was ready to take his business to the next level.
Expansion Plans
Although the Scrub Daddy has seen success in the five Philadelphia supermarkets, Krauss is looking for a strategic partner to help expand into retail stores beyond these five supermarkets. This could be in the form of an investor or a licensing agreement.
Some sharks, however, are skeptical about the Scrub Daddy’s potential success in retail stores. They believe it is too niche of a product and would have difficulty standing out on crowded store shelves.
Krauss’ Response
Despite the skepticism, Krauss remains determined to grow his business. He believes the Scrub Daddy can stand out on its own and is willing to put in the work to make it happen. He has been open to working with investors who share his vision and is committed to making the Scrub Daddy a success.
Conclusion
The Scrub Daddy success story is a testament to the power of Shark Tank and the entrepreneurial spirit. It has become a household name and a staple in many kitchens around the world. With the right partnerships and support, it has the potential to continue growing and expanding into new markets.
FAQs
- How much does it cost to manufacture one Scrub Daddy?
- The cost to make one Scrub Daddy is about $1.
- How much is the Scrub Daddy sold for?
- The Scrub Daddy is sold at $2.80 wholesale.
- Has the Scrub Daddy secured a patent?
- Yes, the Scrub Daddy has one patent and two more are currently pending.
- Is the Scrub Daddy sold in retail stores?
- Currently, it is only sold in five Philadelphia supermarkets and on the Scrub Daddy website, but there are plans to expand into other retail stores.
- Who was the investor on Shark Tank who invested in the Scrub Daddy?
- Lori Greiner, also known as the “Queen of QVC”, invested $100,000 in exchange for 10% equity in the company.
