BatBnB Shark Tank Net Worth 2023
Harrison and Chris presented their business idea to the Shark Tank investors, seeking an investment of $100,000 in exchange for a 16.5% ownership stake in their company, BatBnB. The investors were informed that BatBnB had a current valuation of $625,000.
During their presentation, Harrison and Chris showcased their product and provided samples for the investors to try. They explained the importance of their product and how it solves a particular problem.
They also shared some financial information about their company, stating that each gadget costs $89 to produce and is sold for $239. To date, BatBnB has generated $135,000 in revenue from their sales.
What is BatBnB? Who is the Founder of BatBnB?
BatBnB has designed a bat house that caters precisely to the needs of the animal, providing a safe environment for them to raise their young happily.
The world’s first bat house with an accompanying app, BatBnB, allows interested individuals to visit and keep the bats company without fear of disturbing their home.
In 2016, Harrison Broadhurst and Chris Rannefors, the founders of BatBnB, began conceptualizing their bat dwellings.
Rannefors had previously constructed bat shelters with his father as a child, while Broadhurst’s mother studied bats during her elementary school biology studies.
Bat populations have been decreasing due to habitat loss, disease, and wind turbines, while warmer and wetter winters have led to an increase in mosquito populations. Bats are known to be the world’s most effective natural mosquito control.
The BatBnB founders recognized the importance of bats and realized that the bat houses available on the market were poorly constructed and visually unappealing to bats.
BatBnB houses feature small niches preferred by bats, internal grooves for them to grip, and a rot-resistant, water-tight cedar frame.
They launched their company with a $119,782 IndieGoGo campaign in September 2017, with the backing of renowned bat biologist Merlin Tuttle.
BatBnB now serves customers in 47 states and seven foreign countries, offering seven different models at prices ranging from $95 to $350 for the Mammoth variant.
The BatBnB is designed to be mounted on a home, barn, or pole and provides an ideal environment for bats to live and raise their young securely.
The product also aims to improve people’s perceptions of bats by encouraging them to coexist with the animals and take advantage of their natural pest control abilities.
BatBnB sells directly to consumers through their website and Amazon, and their sleek and beautiful designs are sure to attract anyone who wants to provide a safe and appealing home for bats.
BatBnB Shark Tank Pitch
Harrison and Chris, the creators of the BatBnB, were keen to seek assistance from investors on Shark Tank for mass production and marketing.
They pitched the concept to the Sharks, offering a 16.5% stake in their bat home business valued at $625,000 in exchange for $100,000.
During the pitch, they emphasized the significance of their product and distributed samples. The cost of manufacturing one unit was $89, and it sold for $239, generating $135,000 in revenue. They anticipated sales of $145,000 for the year 2018.
Kevin had prior knowledge of bats from living in Tunisia as a teenager, but the other Sharks teased him about it. Harrison and Chris suggested selling to the county government, which they thought would benefit their business.
Robert and Mark both declined to invest, with Robert stating it was just a hobby. Lori was afraid of bats, and Daymond claimed to have many bats on his property without experiencing any pest problems.
Kevin offered $100,000 for a 33.3% ownership of the business, valued at $300,300. Harrison and Chris agreed on the condition that Kevin would wear a bat costume at some point in the future. Kevin accepted, and the deal was sealed.
Net Worth of BatBnB
During the pitch the company was valued at $625, 000, due to additional sales made by the company the net worth might also raise.
BatBnB FAQs
What is BatBnB?
BatBnB is conservation designed a bat home that is precisely suited to the demands of the animal, allowing the bats to happily rear their pups in a safe environment.
BatBnB is the world’s first bat house to incorporate an app that opens its doors to interested parties, allowing visitors to give the bats company without fear of having their home invaded.
Who is the founder of BatBnB?
Harrison Broadhurst is the founder of BatBnB. He is also the CEO of BatBnB Inc.
What is their offer on Shark Tank?
They were asking for $100,000 for 16% of the business, which is valued at $625,000.
Did they get an offer?
Yes, they received an offer from Kevin.
What is the offer?
They received an offer of $100,000 for 33.3% ownership of the business, which is valued at $300,300 from Kevin.
What happened after Shark Tank?
The deal was never completed.
Is BatBnB still in business?
They made headlines in Maine in 2020 after the Kennebec Estuary Land Trust received a BatBnB in an online competition for bat conservation NGOs. The company is still operating as of June 2021.
Who has used BatBnB?
The Kennebec Estuary Land Trust received a BatBnB in an online competition for bat conservation NGOs; this event made headlines in Maine in 2020.
How do you hang a bat house?
All bat homes should be mounted at a minimum of 10 feet above ground, and preferably 12 to 20 feet. Choose a sunny area on their house’s east or south facing side.
Bat homes perform optimally when exposed to at least 6-8 hours of direct sunshine (if only partial day sun is available- morning sun is preferable).
What makes a good bat house?
All bat homes should be at least 2 feet tall, contain chambers that are at least 20 inches tall and 14 inches wide, and a landing place that extends at least 3 to 6 inches below the entrance (some houses feature recessed partitions that offer landing space inside).
Even better are homes that are taller and broader.
What do I need to know about bat houses?
Bat homes should be erected on poles or structures that give the best predator protection. Wood or stone structures with adequate solar exposure are ideal candidates, as are positions beneath the eaves. All bat homes should be erected at least 12 feet above ground, preferably 15 to 20 feet.
Can you put bat house on a tree?
Bat homes may be erected on wooden posts, steel poles, pivot poles, or the walls of buildings, but not on trees for three reasons: They receive less sunlight in the shade of the branches. Bats find it more difficult to take flight when they encounter obstructions in the form of branches and surrounding plants.
Is bat poop toxic?
Perhaps you’ve heard that bat droppings might be hazardous to one’s health. One should not reject this as a myth so quickly. Bat excrement contains the fungus Histoplasma capsulatum, which is extremely dangerous to humans. Guano that has dried out and is breathed can cause a lung infection.
Are bat houses messy?
Greater is preferable. Mount the bat house at least 15 feet above the ground on a pole or the exterior of an outbuilding. Mounting it on your home is not a good idea because bats are known to harbor a variety of mites, fleas, and insects (and, on a rare occasion, rabies) that you want to keep away from your property. Additionally, bats are untidy.
What is the net worth of Harrison Broadhurst?
His net worth is unknown.
