Bridal Buddy Shark Tank 2023
Bridal Buddy Shark Tank Net Worth
Bridal Buddy‘s net worth reportedly increased to $1 million after its appearance on Shark Tank. Heather Stenlake, the owner of Bridal Buddy, asked the Sharks for a $75,000 investment in exchange for 10% equity, which represents a $750,000 valuation.
As of 2023, there is no available information online about how much Bridal Buddy’s net worth has grown over the years, but Heather Stenlake has a net worth of 1 Million USD as of 2022. Greiner and O’Leary agreed to pitch in $75,000 for 40 percent equity in the company.
What is Bridal Buddy?
Bridal Buddy is a company that offers a lightweight elastic waist slip to assist brides in folding up their flowing gowns into a tight bunch above their waist, allowing them to use the restroom on their wedding day without having to undress.
Additionally, the product helps bridesmaids keep their dresses clean on the big day and spares them the trouble of accompanying the bride to the stall to hold up the garment.
Heather Stenlake, a Kutztown University of Pennsylvania graduate, is the creator and owner of Bridal Buddy. Heather has worked in some capacity in the wedding industry for over 20 years, beginning as a sales employee for a bridal store and later developing enterprises that specialize in wedding clothes and planning.
She is still the CEO of Bridal Buddy today, as well as the founder of The Christmas Tree Bagger, a method for bringing your tree home from the sales lot properly.
Stenlake came up with the concept for Bridal Buddy in 2002 while working as a consultant for a bridal boutique. One of the most frequently asked questions by brides shopping for a wedding gown was “How do I go to the restroom in this thing?” She developed the solution but put it on hold while raising her family. She later resurrected her invention and began promoting it in 2015.
A Bridal Buddy costs $39.95 and is available in two sizes: one for women under five feet five inches tall and one for those taller than that. Stenlake attempted a Kickstarter campaign to release the product, but it was unsuccessful. However, she was able to get the product on Amazon.
What Happened to Bridal Buddy at Shark Tank pitch?
Heather Stenlake decided to present her product idea to the Sharks on episode 24 of Season 8 of Shark Tank’s Bridal Buddy to help get her product into mainstream retail. She was seeking $75,000 for a 10% stake in her company, which was valued at $750,000.
During her pitch, Heather talked about her experience in the bridal industry and how she was frequently asked about going to the restroom while wearing a wedding dress. She created a prototype in 2002 but put it aside to raise her children. In 2015, after getting divorced, she revisited the idea and borrowed $40,000 from her retirement account to fund the project.
Heather had lifetime sales of $195,000 and spent $14 on each unit, selling them for $29.95. She approached David’s Bridal, but they were not interested. Some Sharks, such as Lori, expressed dissatisfaction with the product’s “toilet connotation,” while others, such as Mark, felt the wedding industry was not for them.
Ultimately, Kevin and Lori offered $75,000 for 25% equity each in the company and in Marissa, the model who helped present the product. Barbara then made an offer of $75,000 for 33.3% equity, and Lori and Kevin matched that offer. After some negotiation, Heather accepted an offer of $75,000 for 30% equity in the company.
After the episode aired, the deal between Kevin and Lori fell through, but Heather was still able to secure a deal with Barbara. The company has since expanded its product line to include a “buddy” mermaid dress and is available in about three dozen independent wedding boutiques and Bed Bath & Beyond retailers as of December 2021.
Net Worth of Bridal Buddy
The company was valued at $750,000 during the pitch. In 2021 the company net worth has grown to an estimated $1 million.
Bridal Buddy FAQs
What is Bridal Buddy?
Bridal Buddy is a firm that offers a lightweight elastic waist slip that helps brides fold up their flowing gowns into a tight bunch above their waist, allowing them to use the restroom on their wedding day without having to undress.
Who is the founder?
Bridal Buddy was created and founded by Heather Stenlake. Heather is a Kutztown University of Pennsylvania graduate. She has been involved with the wedding industry in some capacity for over 20 years.
How much was seeking on Shark Tank?
Heather was seeking for $75,000 for 10% stake of her company which worth $750,000.
Did she have the deal?
Yes, Kevin O’Leary and Lori Greiner.
How much was the deal?
They offered $75,000 for 30% ownership of the company, but the deal was never completed.
Is Bridal Buddy still in business?
Bridal Buddy is still in business as of December 2021.
What is the Net worth of Bridal Buddy?
Bridal Buddy was valued at $750,000 during the pitch. In 2021 the company net worth has grown to an estimated $1 million.
Was the bridal buddy a success?
The Bridal Buddy made an appearance on Shark Tank in 2017 and garnered notoriety as a result of the Sharks’ interest in the product.
Is there a return policy?
They want you to be certain that your Bridal Buddy fits perfectly! They offer a 7-day return policy for Bridal Buddy if it does not fit or operate as expected.
They do not accept returns beyond that time. There are no exceptions. Only the goods are refundable.
Does Bridal Buddy provide international shipping?
Yes, they ship internationally. International shipping will be added to their shopping total. 7-21 days for international shipping
Can Bridal Buddy deliver faster?
To get it faster, select expedited delivery at Checkout.
Is it simple to utilize Bridal Buddy?
A Bridal Buddy can be used if individuals can tie their shoes. Before their wedding, give it a couple trial runs.
Just like their wedding shoes, they’ll need to break them in until they feel perfect. If their gown has a lot of layers or a long train, individuals may need some assistance fitting it into the Bridal Buddy.
Is it available in different colors?
The Bridal Buddy is now available in white or black. Choose what works best for brides’ clothes, prom, pageants, formal wear, and so much more!
What is a one-size-fits-all solution?
Classic Bridal Buddy features an elastic cord that fits even the tiniest waist and, when fully extended, reaches to 4 feet wide.
They have your size covered. Sizes 2-18 are available for the Elastic Waist Bridal Buddy and Mermaid Buddy.
How long do I use Bridal Buddy?
Bridal Buddy is designed to be used for a few minutes, draping over the flowing gown. A bride can use it for any length of time, up to about 15 minutes.
The elastic band in Classic Bridal Buddy will stretch with bendable elastic and be easy to work into place without pinning or pulling. It’ll fit most sizes in dresses or skirts that are looser than normal.
What is the net worth of Heather Stenlake?
Heather Stenlake’s net worth is unknown.
