What Happened to RinseKit After Shark Tank?
What is RinseKit?
RinseKit is a portable pressure shower designed for those who enjoy being outside. A Rinse Kit, which requires no pumps or batteries, provides up to three minutes of pressurized spray to wash away sand after a long day at the beach.
Chris Crawford from California founded RinseKit after being unable to rinse off sand and salt during early morning surfs for years.
It runs on 2 liters of water for 3 minutes without batteries. Pressurized water may be stored for up to a month and is simple to fill.
RinseKit was created to be a one-stop shop for all cleaning supplies. RinseKit may be used to clean dishes, counters, laundry machine components, tabletops, and just about anything else! The innovative design of the RinseKit ensures a complete clean every time they use it.
Who is the inventor of RinseKit?
Chris Crawford from California invented RinseKit after years of being unable to rinse off sand and salt during early morning surfs.
In 2003, he was 19 years old and built a PVC prototype in his garage based on his experience of integrated water systems from the pool building industry.
RinseKit was founded in January 2015 and now employs three people, including Crawford.
Crawford designed and built the first RinseKit in his workshop. He wanted something to remove the sand from his body after surfing in the morning before going to work as a swimming pool builder.
He used his knowledge of water systems to build a portable shower for himself, and soon people were inquiring where he obtained it, so he “opened the garage” and began selling.
Things really took off for RinseKit in the spring of 2016. They raised more than $800,000 through Kickstarter and IndieGoGo campaigns! The device is now available on Amazon and at major outdoor retailers such as REI.
The device resembles a medium-sized cooler with a sprinkler hose attached to it. Simply fill it with water from your home, and it will conserve the pressure to force the water out later when needed.
They are available in white or black and cost $89. The model with the hot water kit will set you back $99. Each RinseKit holds 2 liters of water and includes hose or sink adapters.
There’s also a field fill kit, which allows you to pressurize the rinse kit with a bike pump-like device when no tap water is available.
It’s an excellent option for campers, boaters, fishermen, or anyone who gets a little dirty outside and has to clean up on the go.
What Happened to RinseKit’s Shark Tank Pitch?
After the creation, Chris and Eric decided to propose their concept to Shark Tank in order to rise funding for inventory and increase their awareness in major retail chains.
Chris and Eric joined the Shark Tank seeking $250,000 for a 5% stake in their firm, which valued at $5 million.
Chris describes the portable shower and uses it to wet his hand. Robert wants to know why people buy a RinseKit in the first place. Chris claims that he created it to clean up after surfing so that he wouldn’t damage his car, but he’s discovered a slew of other uses.
People with children appear to like it. His experience in the pool business taught him about hydraulics and plumbing, which aided in the development of the gadget.
To get the firm started, he sold his pool company and took on a former pool client as an investor for $75,000 for a 10% stake.
Chris responds to Daymond’s query by revealing that he is $550,000 in debt. The sharks take a mouthful. The good news is that he’s already made $800,000 in sales, with another $2.1 to $2.3 million expected.
They will make $100,000 from these sales. Mark inquires as to why the profit is so low, and Chris responds that it is because they are investing much on marketing.
Kevin believes they are overpriced because the value is based on projections, but he thinks it’s a fantastic product.
Mark interjects and adds that he wants more IT businesses before exiting.
Kevin, on the other hand, was interested and has offered $250,000 for a 5% stake in the company.
Chris intends to reach $20 million in a few years; Lori inquires as to how; Chris responds that they are establishing an ecosystem to which additional goods may be added.
Robert adds his voice. He likes it but is concerned about the risk; despite this, he offers $250,000 for a 20% ownership in the company.
Kevin raises his offer to $250,000 as a loan in exchange for 5% equity shares.
Lori jumps in and offers a loan of $250,000 for 5% plus royalties. Then Daymond comes in with a $250,000 offer for 7.5% stock shares plus sales commissions on businesses he brings on to sell the product.
Chris immediately accepts the offer, and they shake hands with Daymond and strike a deal.
What Happened to RinseKit After Shark Tank?
The deal with Daymond was successfully consummated after Chris and Eric celebrated on the pitch. Rinse Kits are available at over 600 stores around the country, including REI.
They also provided several varieties as well as a hot shower that plugs into a car cigarette lighter. The prices are the same whether people buy them at a store or on Amazon.
RinseKit is on its approach to reaching the $20 million sales mark! The company’s annual revenues were $1.8 million as of November 2021.
RinseKit’s Net Worth
During the pitch, the firm was valued at $5 million; following Daymond John’s investment, it was valued at $2.5 million. The company’s net worth might well have increased as a result of increased sales, with yearly revenue of $1.8 million in 2021.
How Much Does a RinseKit Cost?
RinseKit includes 2 liters of water and hose adapters. The cost is $89. The hot shower version costs $99.
How Long Does it Take to Heat Water?
The approximate time is 8 minutes to heat the 2 liters of water up to 136 degrees Fahrenheit. It can get very hot, but will be less concentrated than a shower head would produce if heated just before use.
Can This Be Used as a Shower?
Yes, it can. User can fill the 2 liters of water and use it for a shower or bath. It does not use up all the water in the 2 liters. It is designed to keep pressure on the water column to purify the water even after you are done using it, letting you rinse away all their dirt and grime.
What Material is the Cover Made of?
It is made of neoprene. It seems to be very durable and does not seem to degrade over time.
What does RinseKit does?
It is a portable shower that can be filled with water anywhere. It provides the user with a shower on the go.
Is it Dirty Water?
It is not as dirty as one would think. RinseKit comes in two sizes: 2 Liters and 3 Liters, which can hold up to five gallons of clean water.
Is RinseKit durable?
Yes, it is. It has a neoprene cover and is very durable and will survive the test of time.
What can I use it for?
Customer can use it to rinse off after swimming and diving as well as doing other activities that require a shower. They can also use it to rinse off after working in the garden, cleaning up in the garage or even taking sips of coffee out of a paper cup in the car.
What is RinseKit warrant?
The warrant is for 36 months limited and there is no warranty expressed or implied.
What types of fittings do they have?
The RinseKit comes with hose fitting, water shut off valve, and shower head. It can be used to fill the unit with water anywhere.
What are the dimensions of RinseKit?
It is 24″ x 11″ x 9″. The height may vary according to the model purchased. There are 2 models: Standard and Deluxe.
What is the return policy of RinseKit?
Customer can return their item within 30 days of order delivery and they will need a Return Authorization Request. The customer is responsible for the return shipping and when it arrives, the company will either get a replacement or refund the customer.
Is RinseKit safe to use?
Yes, it is. It comes with a single faucet shutoff valve that immediately stops the flow of water when the user turns it off.