What Happened to Drain Wig After the Shark Tank Pitch?
What is Drain Wig?
Drain Wig is a cutting-edge gadget that uses a simple hair-stopping technique to avoid clogged drains.
The Drain Wig is simply a chain dangling within the drain.
It grabs and grips wayward hairs. Pull up the chain and dump the entire assembly, hair and all, when the drain slows down.
They will never have to touch the disgusting sludge that they grab from the drain since it is disposable. Furthermore, it eliminates the need for chemical drain cleaners.
A four-pack of Drain Wigs costs $19.95. This is around a year’s supply for the vast majority of families. The one-of-a-kind product is only available online and comes with a 30-day money-back guarantee.
Who is Founder of Drain Wig?
The Drain Wig was conceived by accident by Gifford and Jennifer Briggs, parents of five long-haired girls.
Jennifer was a stay-at-home mom to five girls with no prior commercial or entrepreneurial experience, but she dedicated a significant amount of time and effort in testing new prototypes and developing the product’s design in their own shower at home.
When they located and removed a piece of dental floss that had become caught in the shower drain, they noted all the hair that came up with it.
As a result, the notion was formed. Following a significant amount of time spent developing the design and locating all production and sales partners.
The Drain Wig has received multiple awards, including the 2013 National Hardware Show Innovation Gold Award and being designated one of The TODAY Show’s next big “Bright Ideas” in 2013.
Jennifer Briggs has spoken in venues she never expected to speak at, such as huge conferences and trade exhibits, but she and her husband have learnt so many great lessons along the Drain Wig journey.
What Happened to Drain Wig at the Shark Tank Pitch?
Jennifer and Gifford, together with their girls, presented their innovation on Shark Tank season 9 episode 6 in return for $300,000 and a 5% ownership in their company. This equates to a $6 million valuation.
They explain how their product came to be and the role their girls had in its creation.
After the pitch, the girls handed out samples and departed the Tank. Daymond is eager to hear the numbers. ‘How much does it sell for, and how much does it cost to make?’ he wondered.
They make it for $1.20 and sell it for $9.99. “All big department stores” carry the product.
When Daymond inquired about the product’s current availability, he was told that it was accessible at ‘all big box shops,’ including Bed Bath & Beyond and Walmart.
The Shark is intrigued by the total sales to far of $14.2 million.
Regrettably, they have only received $800,000 in royalties from an infomercial company with which they have a deal. They have since purchased everyone and now own 100% of the company.
Mark announces that he does not want to reinvent the company and that he will retire.
Kevin offers $300,000 in return for a 20% share in the company.
Sara advised Jennifer and Gifford that they, too, could start their own businesses; she is now leaving.
Daymond proposes $300,000 in return for a 20% share.
Lori proposes $300,000 in return for a 25% ownership.
Gifford enquired whether any sharks would be interested in $300,000 for a 10% stake in the company, but the Sharks mostly ignored him.
Then they respond with 15% and laud the virtues of doing business with hotels.
‘You know what, I like it,’ Daymond started, but it was the only thing he said. Kevin O’Leary quickly came to a halt, exclaiming, ‘I’ll do it!’
What Happened to Drain Wig After the Shark Tank Pitch?
Kevin’s transaction was finished. Drain Wig has been a big success. They’re still available at practically every big-box store and on Amazon.
The firm is still in operation and earning $1 million in sales per year as of June 2021.
What is the Net Worth of Drain Wig?
On Shark Tank, the owners were asking $300,000 for a 5% share, bringing the valuation to $6 million, but they took a $300,000 offer from Kevin O’Leary for a 15% stake, bringing the valuation to $2 million.
Who are the Competitors of Drain Wig Competitors?
There are no known rivals for Drain Wig.
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Drain Wig FAQS
What is Drain Wig?
Drain Wig is a cutting-edge gadget that uses a simple hair-stopping technique to avoid clogged drains.
The Drain Wig is simply a chain dangling within the drain. It grabs and grips wayward hairs.
Pull up the chain and throw the entire assembly, hair and all, because they will never have to touch the disgusting filth that they grab from the drain because it is disposable.
Who are the Founders of Drain Wig?
Gifford Briggs and Jennifer Briggs are the founders of Drain Wig.
How much were they asking in the Shark Tank?
They were looking for $300,000 in exchange for a 5% share in their firm.
Did they get the deal from the Sharks?
Yes, Kevin O’Leary invested on it.
How much did the deal cost?
Kevin O’Leary invested $300,000 for a 15% share in the Company.
Is Drain Wig still in business?
Yes, they are still available at practically every major shop as well as on Amazon.
Does Drain Wig work in all drains?
Yes, the Drain Wig is designed to fit into any normal bathtub drain, whether residential or commercial.
Where can they get Drain Wig?
Drain Wig is available on the company’s website, Amazon, and at major shops nationwide.
How much do Drain Wigs cost?
They make it for $1.20 and sell it for $9.99.
Does drain wig really work?
If they get the real thing, it will last months and the chain will be unbroken until they see the drain becoming clogged and remove it.
The authentic product is quite helpful in reducing hair clogs in shower drains.
Can the Drain Wig be reused?
Yes. They may simply remove the hair from the chain and dispose of it using rubber or vinyl gloves if they have a strong stomach.
Reconnect the water supply to their bathtub and replace the Drain Wig in the bathtub drain.
What material is used to make the Drain Wig?
Drain Wig is constructed of high-density polyethylene (HDPE) plastic and has a stainless steel chain and silicone whiskers.
How efficient is the Drain Wig Commercial Bath in Hair Salon Wash Sinks?
Yes, some hairdressers have experienced amazing results after including the Drain Wig Commercial Bath into their hair wash basins.
Salon hair wash sinks are frequently identical to bathtub drains in the absence of a stopper.
Is it possible to install the Drain Wig Commercial Bath in any home bathtub?
Yes, the Drain Wig for business is designed to fit into any standard bathtub drain, whether domestic or commercial.
How do they know when to replace their Drain Wig?
Drain Wigs typically last from 2-4 months, depending on use. This fluctuates greatly depending on how much hair is being sucked down the drain.
It’s time to replace the Drain Wig if the water drains slowly or backs up.
Is the Drain Wig covered by a patent?
Yes, patents are now protecting the Drain Wig in the United States, China, and other nations.
