What Happened to Sweep Easy After the Shark Tank Pitch?
What is Sweep Easy?
Sweep Easy is a broom with a built-in scraper. The broom is intended to clear up tough, stuck-on messes without forcing you to squat and scrub or scrape.
The broom’s scraper extends from the centre of the broom with a quick push-button and an expanded handle.
Who is the Founder of Sweep Easy?
The Sweep Easy was created by Shane Pannell. He launched the firm as a stay-at-home parent of three children. Pannell is still the President of Sweep Easy LLC.
While scraping up spilt food on his hands and knees in his kitchen, Shane Pannell conceived the idea for the Sweep Easy broom.
Pannell simplified the sweep in his workshop. He worked on the Sweep Easy broom for about a month.
Pannell submitted his idea to other companies he thought might profit from the broom.
He went to bakeries, movies, and schools. Many individuals were enthralled when it was revealed that the product might be anything.
He sought to trademark the Sweep Easy in 2010. He then began looking for money. This inquiry lead him to the Shark Tank.
What Happened to Sweep Easy During the Shark Tank Pitch?
Panell entered the Shark Tank searching for $40,000 in return for a 25 % equity share. This translates to a $160,000 valuation.
He uses an extended scraper to remove cereal, yogurt, and other objects from a sample area of floor. On the product, he has a patent pending.
Robert Herjavec is interested in trying the product. For three years, he was a stay-at-home father.
Herjavec and Kevin O’Leary are interested in considering licensing the concept to current broom producers. Panell aims to license the Sweep Easy as well as give product licenses.
Kevin Harrington is opposed to the concept. He predicts that the product alone may create a $100 million income stream. Panell aims to sell his wares through retail shops.
Kevin O’Leary wanted to discuss money. He’s thinking about licensing the product. He’s prepared to give Panell $40,000 for a 20% share.
Kevin Harrington makes a stand. He says that licensing accounts for roughly 30-40% of Panell’s profits from direct sales, which is his area of expertise.
O’Leary boosts his offer before Harrington can make one. $50,000 at a 20 % discount.
Kevin Harrington offers $50,000 in return for 25 % shares. Harrington claims to have license ties as well as television contacts.
Shane wants to own his own firm, grow Sweep Easy, and invent new goods, according to Daymond John.
Daymond offers $75,000 in return for 33 % stock.
He offers to join Kevin Harrington in arranging the deal for $80,000 in return for 25% equity. Daymond is beginning to rethink the offer and has said that if Shane walks out, he will rescind the offer.
Barbara Corcoran – does not believe Shane will be able to get this idea to market as he is not the sort of person to execute it. She tells him she doesn’t think he’s the sort of guy who can cross the finish line. She’s gone.
Kevin O’Leary – rather than creating brooms, he seeks to license the Sweep Easy. He makes a $40,000 offer in return for 20%.
Kevin extends his offer to $50,000 for 20 percent shares soon Kevin Harrington arrives. He offers Kevin Harrington to go 50/50 with him, but Kevin Harrington refuses Kevin O’Leary’s request. Harrington desire increased power rather than a companion.
Robert Herjavec – joins Kevin O’Leary’s plan, donating $80,000 in return for 25% shares.
Kevin Harrington accepts Daymond John’s invitation to go in with him. They match Herjavec’s offer of $80,000 for a 25 % ownership.
Panell wants to phone his wife, but the Sharks force him to reply. O’Leary offers to talk with Panell’s wife, putting him on the position.
If Panell exits to contact his wife, John cuts his offer to $70,000 for 30%.
Panell, under duress, accepts John and Harrington’s offer of $80,000 for a 25 percent interest. He goes away from the Tank with a contract.
What Happened to Sweep Easy After the Shark Tank Pitch?
Shane Pannell’s Sweep Easy deal with Daymond John and Kevin Harrington fell through.
The Sweep Easy social media profiles appear to be defunct, given there have been no new additions since 2012.
The website, on the other hand, is still working. Customers who seek to minimize pressure on their backs when cleaning up home messes can still purchase the items.
Panell relaunched the Sweep Easy in the spring of 2017 after a few years of inactivity and restricted (or no) availability.
With a redesigned website, social media accounts, and a revised product, some of the Sweep Easy’s new features include a button release system and better deployment/retraction.
There are also three versions available: Home, Pro, and Lobby. They have replacement plastic and metal scrapers, making them more flexible to your needs.
He’s still in business and selling brooms on his website as of November 2021. The annual revenue is just above $1 million.
What is the Net Worth of Sweep Easy?
Panell joined the Shark Tank searching for $40,000 in return for a 25 % equity share. This translates to a $160,000 valuation.
He accepted an offering from Daymond and Harrington of $80,000 for 25% therefore brings valuation to be $320,000.
Who are the Competitors of Sweep Easy?
There is no competitor identified for Sweep Easy.
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Sweep Easy FAQS
Is it true that Sweep Easy made money?
Despite having made no sales previous to the presentation, the firm’s owner exited the expo with more sales than planned, owing to the invention that will enhance people’s sweeping skills.
Is sweep Easy still in operation?
“Easy Sweep!” He’s still in business and selling brooms on his website as of November 2021.
What happened to Sweep Easy after Shark Tank?
Shane began selling his things in numerous places and on his internet website after appearing on Shark Tank.
The brooms are available in three colours: green, orange, and blue, and they cost $28.97 on the internet.
The website has offered an enclosed dustpan for $15.97.
What is sweep easy worth?
Sweep Easy was appraised at $ 320,000 at the Tank after the owner accepted an offer.
What precisely is Sweep Easy?
Sweep Easy is a multi-purpose floor scraper that is useful in removing adhesives and bandages from the floor.
A high-quality plastic crapper can remove any debris that has been stuck to the ground or solidified.
They won’t have any issue cleaning it because it’s unnoticeable.
Why Is Sweep Easy So Popular?
Sweep Easy’s primary selling point is its three-in-one retractable scraper.
All three attachments are composed of high-quality plastic and are appropriate for use on a range of surfaces.
So, whether they have vinyl or hardwood floors, Sweep Easy can clear up any sort of issue rapidly and effectively.
What is Sweep Easy’s income model?
Shane Panell outlined his plan for selling the product to restaurants, theatres, and other organizations during his appearance on the show.
Shane began selling his things in a number of settings and online after appearing on Shark Tank.
But given the support it has gotten, there’s little question that his concept will blossom and continue to be popular for years to come.
Who’s the owner of Sweep Easy?
Sweep Easy is owned by Shane Panell.
How much does Sweep Easy cost?
If buyers want to buy Sweep Easy, they will have to pay the RRP of $29.90. Please bear in mind that the original price is $19.95, however Amazon and other e-commerce sites charge $29.90.
When was Sweep Easy aired on Shark Tank?
Yes. Shane Panell was featured on the season 2 episode 6, which aired on October 4, 2014.
What the strengths of Sweep Easy?
Sweep Easy is a lightweight broom that takes 3 components to construct. They may change the broom into a dustpan, a brush, and a scraper.
The scraper makes it very easy to remove stickers from any surface without hurting the material.