What Happened to Mighty Carver Electric Knife after Shark Tank?
What is Mighty Carver Electric Knife?
Mighty Carver is an electric carving knife in the shape of a chainsaw. The great father’s day gift allows you to easily and quickly cut through a number of culinary goods, including Thanksgiving turkey, bread, vegetables, and cheese.
It comes with a carving fork and stainless steel blades that are easily removable for cleaning.
Kim and Lance Burney, a husband and wife pair, founded the firm.
Lankim LLC was founded in 2016 by the dynamic team. Lance formerly worked mostly as a side hustler in real estate and timber land management.
Who is the founder of Mighty Carver Electric Knife?
Kim and Lance Burney, a husband and wife pair, founded the firm. Following the loss of their grandfather a few days before Thanksgiving, the two were inspired to develop Mighty Carver.
Prior to his death, the Burney family appreciated the opportunity to remove shrubs and trees after the national holiday.
Kim’s family owns a cabin in Montana, and one of the annual responsibilities involved cutting small, low-hanging branches from trees to help avoid forest fires.
That happened in 2018. The Florida couple decided to take the risk and design an electric carving knife that looks like a small chainsaw.
They took it to other housewares shows and were noticed by a Shark Tank scout. The notion appears to have caught on: they sold 5000 units in 2019.
Kim is the driving force behind the company. In less than a year, she designed, manufactured, and patented the product. She also sold them wholesale to companies including Sharper Image, Ace Hardware, The Grommet, and Hammacher Schlemmer.
They also have a presence on Amazon. At only $89, the Mighty Carver is an inexpensive way to add some fun to carving the Thanksgiving turkey or any other meat.
What Happened to Mighty Carver Electric Knife at Shark Tank pitch?
In episode 1205, Kim and Lance Burney try to negotiate a contract with a Shark for Mighty Carver, their chainsaw-like electric carving equipment. They want a Shark to help them cut manufacturing and distribution costs.
Kim and Lance arrived on Shark Tank in seeking of $100,000 in return for a 20% stake in their company, which worth $500,000.
The Sharks were all in favor of the idea, which they see as a fun way to spice up Christmas feasts. Kim impresses the Sharks by explaining that she has a patent for the innovation.
They have strong retail sales, but there is a catch. During the Covid-19 outbreak, retail is an unattractive strategy. They’re searching for a Shark to help them increase direct-to-consumer sales.
The product is popular among all Sharks. Mark and Barbara discuss the possibility of working together on a deal. Kevin proposes $100,000 in return for 33.3% stock and claims to be able to enhance online conversions.
Daymond makes a $100,000 offer in return for 27.5% ownership of the company. He then increases his equity share to 25% and starts a copy of Mark’s former “countdown clock.”
Lori begs them to take Daymond’s offer, which they do and leave the pitch with a deal.
What Happened to Mighty Carver Electric Knife After Shark Tank?
The first re-run will occur less than a month and a half after the original broadcast. Burney’s express gratitude to Daymond and his team for their assistance in prepping for “The Shark Tank Effect.” The deal with Daymond was finalized.
Daymond’s team also works directly with Burney’s marketing team, supporting them with vendor partnerships. The Burneys and Daymond appear to have had a strong working connection as a result of this deal.
The firm is still in operation as of February 2022, with annual revenue of $8 million.
Net Worth of Mighty Carver Electric Knife
During the pitch, the firm was valued at $500,000; following Daymond John’s investment, the company was valued at $400,000. Since then, the company has a net worth of $450,000.
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Mighty Carver Electric Knife FAQs
What is Mighty Carver Electric Knife?
Mighty Carver is an electric carving knife in the shape of a chainsaw. The great father’s day gift allows you to easily and quickly cut through a number of culinary goods, including Thanksgiving turkey, bread, vegetables, and cheese.
Who is the inventor?
Kim and Lance Burney, a husband and wife pair, invented the firm. Lankim LLC was founded in 2016 by the dynamic team. Lance formerly worked mostly as a side hustler in real estate and timber land management.
How much were they seeking on Shark Tank?
They were looking for $100,000 for a 20% stake in their company, which was worth $500,000.
Were they able to close the deal?
They did, in fact, strike a deal with Daymond John.
How much did the deal cost?
Daymond offered $100,000 in return for a 25% ownership in the company, which was worth $400,000.
Is Mighty Carver Electric Knife still a going concern?
Yes, the company is still in operation in February 2022.
How much money did Mighty Carver Electric Knife make?
The company’s yearly sales were $8 million.
How much does the Mighty Carver Electric Knife cost?
The product is merely $89 in price.
Where can I get my hands on a Mighty Carver Electric Knife?
Customers may purchase them via the company’s official website, www.mightycorver.com.
What are the advantages of using the Mighty Carver Electric Knife?
The following are the advantages of the Mighty Carver Electric Knife: Cut Various Raw Materials Quickly and Easily
The Mighty Carver is equipped with a sharp, electric knife head that is ready to carve the entire turkey. With this wonderful instrument, one can quickly chop up the bird.
Furthermore, people may quickly prepare for their Thanksgiving feast by slicing through other roasted foods such as sweet potatoes, pumpkin, or stuffing. Simply turn on the gadget, connect the blade, and begin carving.
Is it safe to use Mighty Carver Electric Knife?
The Mighty Carver has several features that make it safe to use. It is always possible to switch it on and leave it alone. It doesn’t overheat and doesn’t burn your fingertips.
How often can I use the Mighty Carver Electric Knife?
It may be used several times using the blade changing mechanism.
Is Mighty Carver Electric Knife protected?
Yes, the gadget is not intended for extended usage. It is necessary to have a proper frequency of blade changing.
When is the most appropriate time to use Mighty Carver Electric Knife?
It may be utilized at home or when traveling at any time of year.
What is the best way to get rid of old batteries?
By notifying the service department, they may be disposed of responsibly.
Is Mighty Carver Electric Knife warranted?
Yes, they come with a one-year warranty.
Is the Mighty Carver Electric Knife helpful for anything else?
The equipment is not restricted to turkey cutting and may be used for a variety of other tasks. It may be used to slice bread or other baked items, for example.
Aside from that, the equipment may be used to make handmade fruit rollups or veggie chips. It’s a great aid when it comes to food preparation at home.
Is the Mighty Carver Electric Knife suitable for bone cutting?
No, it doesn’t. The Mighty Carver is used to slice vegetables, fruits, and other raw materials.
Is Mighty Carver Electric Knife available for purchase?
Yes, the gadget comes in a box.
Is the Mighty Carver Electric Knife simple to operate?
To utilize the gadget, no special skills are required. It is simple to turn the handle for cutting. Furthermore, there is no need for a tool to change the blades because it includes an automated blade change mechanism.
What should I do now that I’ve got my product?
Replace the blades as directed, and then follow the device’s operating instructions.
