What Happened to Extreme Vehicle Protection After Shark Tank?
What is Extreme Vehicle Protection (EVP)?
Extreme Car Protection is a painstakingly constructed system that shields your vehicle from inclement weather. Extreme Vehicle Protection is designed to resist up to 36-inch-deep inundation.
Extreme Vehicle Protection’s primary objective was to protect automobiles, but it has now expanded to include golf carts, furniture, lawnmowers, and even yachts.
Matthew Harris and Kenny Lerner founded Extreme Vehicle Protection. Before beginning the firm, Matthew worked at a graphics design studio that also did car wraps. His business partner, Kenny, was already prosperous.
Who is the founder of Extreme Vehicle Protection?
Kenny Lerner and Matthew Harris founded Extreme Vehicle Protection. Extreme Vehicle Protection was inspired by a dream. Mathew’s father had a dream about a vehicle cage.
Matthew told his buddy Kenny about his idea, and he was delighted about the potential. In the case of a hurricane, which was unavoidable, EVP would save automobile owners and insurance companies a lot.
According to Harris and Lerner, their technology can keep cars safe from floods in water up to three feet deep. They also provide covers for storing everything from outdoor furniture to snow blowers.
The Extreme Vehicle Protection bags are simply big, heavy-duty baggies through which you drive your vehicle. The substance, once sealed, protects autos from severe winds and rising water. Apart from the fact that it is new, there isn’t much information available about the firm (2015).
The car bags cost between $249 and $349, depending on the size of the vehicle, and are only available through the company’s website. They’re seeking for wholesale customers. Harris and Lerner are most likely searching for a Shark to help them with distribution arrangements.
What Happened to Extreme Vehicle Protection pitch on Shark Tank?
Matthew Harris and Kenny Lerner aim to clinch a deal for Extreme Vehicle Protection, their brand of vehicle and storage protection bags, in Shark Tank episode 722. Harris and Lerner are seeking for a Shark to help them with distribution agreements.
Matthew and Kenny entered the Tank seeking $50,000 investment request in return for a 20% stake in their company, which valued at $250,000.
The valuation may excite the Sharks’ interest, but finalizing a deal will need a solid business plan and proven sales.
The pair debates the concept of EVP and insists that Robert drive their show vehicle into the EVP. “It’s kind of like a Ziploc bag for your car,” Kevin O’Leary remarked.
Robert Herjavec, an automobile enthusiast, claims to have a device with a similar application. The entrepreneurs responded that putting up Robert’s goods required the usage of power and more than one person.
The Sharks were interested in the sales. Kenny adds that they’ve sold 150 EVPs thus far through auto shows, body shops, and other outlets. Sales aren’t excellent, and this might be a huge challenge for these men.
According to Mark Cuban, EVP is a “very great business,” but it has limited growth potential. He exits.
Robert Herjavec says that during natural disasters such as floods and storms, individuals do not cooperate “Consider their autos.
“Saving their autos” will be the last thing on their minds in an emergency.” He likes the idea and the company, but he isn’t interested.
Lori Greiner was a “auto fanatic” who was dissatisfied with the packaging. She goes out.
Kevin O’Leary suggests a royalty structure. He’s ready to provide $50,000 to help the couple grow inventory and sales, and he’s asking $30 per unit in perpetuity. He uses social media and his workers to establish a sales platform.
Daymond John responds with a counter-proposal. In exchange for a comparable sales platform, he’s willing to acquire a third of the company for $50,000.
Kevin’s deal was being called into doubt by the two. Before recommending a solution, he believes that his royalty deal will expire once 1,000 copies are sold.
Daymond John feels that they need a “genuine partner,” someone who has “skin in the game.”
The couple accepts Daymond’s $50,000 offer for 33% stake in the company. “I appreciate your offer,” Kenny says Kevin O’Leary, “but I’m going with Brooklyn.” They eventually left the pitch with a deal.
What Happened to Extreme Vehicle Protection After Shark Tank?
After the episode aired, the deal with Daymond John was finalized, and the boys left the pitch with a deal. The EVP team has benefited from the Shark Tank impact by increasing their social media awareness.
The company was named one of the “greatest Shark Tank products” by Buzzfeed, which sparked increased interest. Most media outlets have given the product good evaluations since the bags are 100 percent recyclable.
Keep a watch on EVP to see whether it turns out to be a good purchase for Daymond John. We can see he’s landed a lucrative business.
Since 2021, the company has introduced a flood of new products, such as windshield hail protection covers, equipment storage, and furniture storage. As of January 2022, the company is still in operation, and the items are available on Amazon.
Extreme Vehicle Protection’s Net Worth
During the pitch, the firm was valued at $250,000; following Daymond John’s investment, the company was valued at $151,515. Since then, the firm has continued to operate, and hence the company’s net worth might have been higher.
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Extreme Vehicle Protection FAQs
What company produces Extreme Vehicle Protection?
Extreme Vehicle Protection was founded by Kenny Lerner and Matthew Harris in 2017.
Where is Extreme Vehicle Protection based?
Extreme Vehicle Protection is located in Miami, Florida.
Who is the owner of Extreme Vehicle Protection?
Extreme Vehicle Protection is owned by Matthew Harris and Kenny Lerner. Both are the co-founders of the company, which was named after them – “extreme” because they were “extreme vehicle fanatics,” according to them.
What products does Extreme Vehicle Protection offer?
Extreme Vehicle Protection offers items that can protect the car from extreme weather conditions. They provide covers for cars and boats; they also have floor mats, as well as storage bags.
How much is Extreme Vehicle Protection’s covers?
Extreme Vehicle Protection’s covers have different prices, depending on their size. The largest ones cost $349, while the smallest ones cost $249.
Is Extreme Vehicle Protection available online?
Yes, customers can buy the products online through their official website.
Is it easy to find Extreme Vehicle Protection’s products on Amazon?
Extreme Vehicle Protection’s most popular items are available on Amazon, and they can be bought easily. Customers can easily find the items by searching for “extreme vehicle protection” in the Amazon website.
Does Extreme Vehicle Protection have an affiliate program?
Yes, they do have an affiliate program, but it is currently unavailable.
Is Extreme Vehicle Protection durable?
Extreme Vehicle Protection is known to be durable and strong. They have products that are able to keep severe weather conditions out of the vehicle.
Is Extreme Vehicle Protection used by auto enthusiasts?
Extreme Vehicle Protection is used by car enthusiasts because it protects their vehicles from extreme conditions such as floods, tornados, and hurricanes.
Is Extreme Vehicle Protection easy to use?
Extreme Vehicle Protection’s products are easy to use because they come with instructions on how to use them correctly.
Is Extreme Vehicle Protection good for vehicle protection?
Extreme Vehicle Protection’s products are known to be effective in protecting vehicles from extreme weather conditions. They have covers and floor mats that can keep the car safe in unfortunate weather conditions.
Is Extreme Vehicle Protection easy to assemble?
Extreme Vehicle Protection’s covers are easy to assemble. All customers have to do is follow the instructions given on the package, and they will be able to put it together themselves quite easily.
What’s the deal with Daymond John’s business partnership with Extreme Vehicle Protection?
Daymond John’s business partnership with Extreme Vehicle Protection was finalized by September 2016. The two business partners worked together since then, and they have plans to introduce more products in the future.