What Happened to Kit Lender after Shark Tank?
What is Kit Lender?
Kit Lender is an outdoor gear rental company that is ideal for those who enjoy activities like skiing, snowboarding, and hiking on a limited time but not frequently enough to warrant purchasing their own personal equipment.
Kit Lender offers a number of kits, such as a Complete Outerwear and Boots Kit, a Car Camping Kit, and a Backpacking Kit.
The company was founded by Forrest Shinners, a former reporting analyst turned entrepreneur. Forrest graduated from the University of Vermont with bachelor’s degrees in Business Administration, Accounting, and Finance.
He worked in a number of professions connected to capital research and management after graduation before deciding to pursue entrepreneurship full-time.
Who is the founder of Kit Lender?
Forrest Shinners founded the company in 2014, and it went public in 2015. Forrest came up with the idea for Kit Lender while working in finance in New York City.
He saw that many of the people he worked with enjoyed outdoor activities, particularly skiing and snowboarding, but not nearly enough to invest in their own equipment.
When he returned to New York City after college, his friends voiced a wish for fewer ski trips. Skiing is an expensive sport: lift tickets may cost up to $200, and you’ll need skis, proper clothing, and a somewhere to stay.
Skinner invited his friends to go skiing with him by letting them stay at his parents’ house and providing them with skis and clothes, all of which were ample at his place.
That was the moment the light bulb went out. Kit Lender launched in 2014 and now ships to all 50 states. According to Forrest, the firm has expanded 100 percent year over year and expects to supply 10,000 “kits” in 2019.
The company not only rents ski equipment, but also everything men, women, and children need to go skiing, such as gloves, goggles, boots, a jacket, and ski pants. They’ll even provide you with underwear and socks, but you’ll have to buy them!
Every day, a complete “kit” costs between $30 and $50, depending on the sizes and designs chosen. Simply choose your equipment on the internet, and it will be delivered to the ski lodge’s front desk.
When you return from your trip, place all goods in the supplied pre-paid return postal envelope and leave them at the front desk. Kit Lender has had a lot of success dealing with resorts that only rent skis and nothing else.
What Happened to Kit Lender at Shark Tank pitch?
Forrest Shinners asks the Sharks to invest in Kit Lender, his thriving ski equipment and gear Rental Company, in Shark Tank’s Holiday Special, episode 1110. Forrester is looking for a Shark to help him with the logistics of expansion.
Forrest entered the Tank seeking for $200,000 in return for a 7% stake in his company, which worth $2.9 million.
He talks about the company and its history. The Sharks like the business’s concept and ease of use. They also benefit from sales: $750,000 in 2019.
They despise the large amount of inventory required to develop their business. Lori was the first Shark to exits, followed by Mark, Barbara, Kevin, and finally Robert, who all wished Forrest well in his attempt. Finally, Forrester left the pitch without a deal.
What Happened to Kit Lender after Shark Tank?
Despite the lack of a deal, show night traffic packed the firm’s website, with over 25,000 concurrent users.
This company has continued to operate and has improved its website after appearing on Shark Tank. By July 2021, the company’s product line had extended to include camping and hiking goods.
The company’s annual revenue remains around $1 million as of January 2022.
Competitors of Kit Lender
Ski Butlers is Kit Leader’s main competitor.
Net Worth of Kit Lender
During and after the pitch, the firm was valued at $2.9 million. Since then, the company has continued to operate, and hence its net worth might be more.
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Kit Lender FAQs
What is Kit Lender?
Kit Lender is an outdoor gear rental company that is ideal for those who enjoy activities like skiing, snowboarding, and hiking on a limited time but not frequently enough to warrant purchasing their own personal equipment.
Who is the originator?
Forrest Shinners established the business in 2014, and it went public in 2015.
How much money was sought on Shark Tank?
Forrester was seeking for $500,000 for a 7% stake in the company.
Was Forrester the one who got the deal?
No, he did not have the Shark Tank deal.
Is Kit Lender still in operation?
Yes, Kit Lender is still in operation and on a considerable basis.
Is Kit Lender Shark Tank worth?
Yes, the firm was valued at $2.9 million both before and after the presentation.
Where is Kit Lender located?
Kit Lender may be found in Burlington, Vermont.
How do I get in touch with Kit Lender?
Kit Lender may be reached at www.kitlender.com or by email at [email protected]
Who is making use of Kit Lender?
The company primarily targets those who are not interested in severe skiing or snowboarding on a regular basis but would want to do it once or twice a year.
How long has Kit Lender been in business?
The firm was started in 2014 and first went public in 2015.
How does Kit Lender make money?
Kit Lender generates money by selling kits and advertising units to internet businesses.
Is Kit Lender available for purchase?
Yes, Kit Lender ships across the United States.
How much does Kit Lender shipping cost?
The shipping cost of Kit Lender in a specific state is determined by the number of days it takes to reach the area.
How much money does Kit Lender make?
As of January 2021, Kit Lender’s total revenue is $1 million.
What is the return policy for Kit Lender?
Customers are obligated to make their payments within the time frame specified by the company. The equipment must be returned to the company within 7 days after delivery. All things returned with it must be provided by the consumer.
What is the Kit Lender delivery time?
The company sends all rental items to their customers in the same condition. It takes 7-10 days to reach the client because it is sent by the company.
Is Kit Lender serving a warrant?
No, Kit Lender does not provide warranties for borrowed kits.
Is Kit Lender a genuine company?
Yes, Kit Lender is a legitimate company that operates lawfully. It is licensed to operate a ski rental company in Vermont.
How do I make a payment for Kit Lender?
Customers can pay for the kit’s rental using cash or credit card. They can also pay by bank transfer via their website.
Is it possible to locate a Kit Lender store?
Yes, Kit Lender has over 200 locations around the country.
Is it safe to use Kit Lender?
Yes, Kit Lender is risk-free. As of January 2021, the firm’s revenue exceeded $1 million.
How much trouble will I be in if I misplace my Kit Lender equipment?
Fortunately, the company offers a 24-hour customer support line and new equipment.
Is it possible to rent ski outfits or helmets from Kit Lender?
Customers have the option of renting ski outfits and helmets. They are, however, offered separately by the firm.
Who is the company’s CEO?
Kit Lender’s CEO and co-founder is Forrest Shinners.
