Shark Tank has been providing great opportunities for entrepreneurs to get their products out into the world for years, and the show is now going on to it’s 10th season. While making a deal with one of the Sharks is the goal, merely appearing on the show gets your product in front of millions of eyes. It’s quite inspiring to read Shark Tank success stories, seeing everyday people leading million-dollar businesses.
With the help of the over seven million viewers, some of these companies become recognized worldwide. Here are 11 of the most successful Shark Tank products that have made huge splashes.
Scrub Daddy
Investor Lori Greiner saw huge potential in the Scrub Daddy, which may be the most successful product to come out of Shark Tank to date. As of January 2017, the Scrub Daddy had brought in over 100 million dollars in revenue, which is quite astounding.
The sponge is shaped like a happy face (think the smiling emoji). In cold water, the sponge gets firm, but in hot water, it softens up. It’s a versatile sponge that’s ergonomic and can be used for up to two months without losing its shape and becoming too dirty to use.
Aaron Krause, CEO, made a deal with Lori Greiner in season 4. Greiner invested $200,000 into Krause’s company, and in return, she received 20% of the company. With the help of the Shark, Krause was able to get the sponge into stores and on tv, where they quickly became a household name.
They’ve recently released more products like the Scrub Daisy and the Scrub Mommy, which have gone on to be great successes.
Squatty Potty
The Squatty Potty, put simply, is a toilet stool that aids in bowel movements. It was designed by the Edwards family who also owns Squatty Potty LLC, under which they market personal care products. In 2017, sales accumulated to over $30 million dollars.
It’s a toilet stool that wraps around a toilet to prevent it from getting in the way. The Edwards had found that other stools they were using were getting in the way, causing them to stub their toes in the middle of the night. It stores away easily when you’re not using it and is the perfect size and height. It operates on the principle that the colon is in a more natural position when squatting, which leads to more natural bathroom habits.
Kevin O’Leary and Lori Greiner share 10% of the company, for which they invested $350,000. One day after making the deal, the Squatty Potty made over 1 million dollars in sales. Squatty Potty LLC now sells a variety of different stools, bathroom amenities like plungers, and toilet sprays.
Tipsy Elves
Tipsy Elves began as a Christmas sweater company, making provocative sweaters that are eye-catching. Now, they create “the most outrageous clothes known to mankind.” They’ve reported over $40 million dollars in sales since opening.
Evan Mendelsohn and Nick Morton created Tipsy Elves in 2011. They originally only sold Christmas sweaters, but have since expanded to selling all types of apparel, including t-shirts, underwear, leggings, and swimwear. They also sell skis, snowboards, and all gear associated with them.
Robert Herjavec was the shark who took the bite. He invested $100,000 in exchange for 10% of the company. Herjavec has since stated that this was his most successful investment. He was the one who guided Mendelsohn and Morton to turn the company into a year-round apparel company so they could capitalize off other holidays and fads.
Grace and Lace
Grace and Lace began in 2011 on Etsy, under the name Sienna’s Closet. The owner, Melissa Hinnant, first sold embellished legwarmers and boot socks. After finding success on Etsy, in 2013, they were featured on Shark Tank. Barbara Corcoran invested $175,000 for 10% of the company, and it’s turned into her most successful investment on the show.
What started as legwarmers and socks turned into an entire women’s apparel company. Aside from their signature leggings and socks, Grace and Lace now manufactures and sells an entire line of women’s clothing.
Since Shark Tank, the company has made over 20 million dollars in sales—it’s no wonder that it’s Barbara’s most successful investment.
Wicked Good Cupcakes
In 2010, Tracey Noonan and Danielle Vilagie first started taking cake decorating classes, and in 2011, they turned their hobby into a business. They started shipping the cupcakes in mason jars as a way to keep them fresh, creating their innovating cupcake in a jar.
In 2013, they went onto Shark Tank, where they struck a deal with Kevin O’Leary. He invested $75,000 in return for royalties instead of equities. Until he made his initial investment back, he received $1 for every cupcake. Now, he receives 50 cents for every cupcake sold. It’s become O’Leary’s most successful investment on the show.
Wicked Good Cupcakes has since gone on to make over $5 million dollars per year and expanded their storefronts and production facility. Besides the cupcakes, they now sell pies in a jar, gluten-free alternatives, cakes, and themed packs.
Ten Thirty One Productions
The Horror-themed production company was founded in 2009 by Melissa Carbone. They launched the Los Angeles Haunted Hayride and generated $400,000 in revenue in their first year. They create and produce their own live horror attractions.
They appeared on Shark Tank in 2013 and got what was the biggest investment in Shark Tank history at the time. They reeled in Shark Mark Cuban who forked over a $2 million dollar investment for 20% of the company. The production company has since become the self-proclaimed leader of horror-themed entertainment.
Cuban helped Carbone expand the company to New York, where they created New York Haunted Hayride. With the expansion, Ten Thirty One Productions made an estimated $3 million dollars in 2017.
Groovebook
Groovebook appeared on season 3 of Shark Tank, where husband-wife team Brian and Julie Whiteman made a deal with Mark Cuban and Dennis O’Leary. It’s a digital-photo subscription service that turns your digital photos into a physical photo book. For just $3.99 a month, you get a monthly photo book filled with high-resolution photos you took on your phone.
For $150,000, the Sharks received 80% of licensing profits. The couple gained over 50,000 subscribers just shortly after their episode aired and saw continued success up until 2014, when Shutterfly bought GrooveBook for a whopping $14.5 million dollars.
Buggy Beds
The Buggy Bed is a system to detect bed bugs before the pests spread and take over your mattress and entire home. They’re designed to attract bed bugs to the glued surface and have a crushproof design that lets the bugs be examined. Because they attract them, you can catch bed bugs before they spread too much. They can also be used to ensure hotels are bedbug-free and to protect your luggage.
In a rare feat, all the sharks were interested in the bed bug system. Together, the sharks invested $250,000 for 25% of the company. Sales are flourishing in over 23 different countries and the product has made well over $1.2 million dollars to date.
Bubba’s-Q Boneless Ribs
Al Bubba Baker, a retired NFL football player, began selling a line of barbecue sauces and dry-rubs, later specializing in ribs. Before appearing on Shark Tank, he was making annual sales of around $154,000. After appearing on Shark Tank, his sales increased to $16 million.
Daymond John is the Shark who believed in Bubba’s ribs, investing $300,000 in return for 30% of equity and licensing rights. Since then, it’s become his most successful investment, thanks to the deliciousness of the sauce.
John assisted Bubba in improving his processing capabilities and business deals. The company’s growth is thanks to getting the sauce in both Carl’s Jr. and Hardee’s restaurants. CKE Restaurants, the parent company, ordered one million pounds of the ribs for 3,000 franchise locations.
Simple Sugars
In 2013, Lani Lazzari appeared on Shark Tank at just 18 years old. She made a deal with Mark Cuban—he offered her $100,000 for 33% of her company. Simple Sugar’s sales went from $50,000 to $1 million in a matter of weeks after the episode aired. You can now find the skincare line in over 700 retail locations.
Lazzari began creating the scrubs when she was 11 years old to treat her eczema. She was making them for loved ones and started selling the scrubs online. Cuban, whose son suffers from eczema, saw huge potential in the product while the other sharks did not, partially because the product is so easy to make. Cuban has said it’s been one of his most profitable investments, bringing in more than $3 million in revenue per year.
Copa Di Vino
While none of the Sharks were able to close a deal on Copa Di Vino, I thought it was worth mentioning anyways. Founded James Martin created a line of wines that come pre-packaged in a patented glass container that’s recyclable and has a resealable lid. Wine to go, so to speak.
When Martin appeared on the show, he asked for $600,000 in exchange for 30% of the company. The Sharks were interested, though they advised him to separate the patented glass from the product. He was adamant that the glass container was what made the product special, so no deal was made that day. However, just being on the show was enough to give Copa Di Vino the push it needed. The company saw instant success, and today it’s accumulated more than $25 million dollars in revenue and they employ over 150 people.
As you can see, it all starts with an idea. If you’re a budding entrepreneur with an idea and need some help with your invention, Cad Crowd is here for you. We can connect you with top of the line industrial designers, manufacturers, and anyone else you could need to get your product out into the world. Then you can bring your product onto Shark Tank and wow the world! Contact us today for a free quote.
