Doc Spartan Shark Tank Net Worth 2023
According to various sources, Doc Spartan was valued at around $300,000 during its Shark Tank appearance.
However, the company has since grown significantly and has been able to find success following its deal with Robert Herjavec. Its current net worth is not available.
What is Doc Spartan? Who is the founder of Doc Spartan?
Doc Spartan is a company that manufactures and distributes hygiene products for men, women, and animals. Their range of products includes underarm deodorants, scented and unscented soaps and scrubs, beard care oils, butter, and soaps, skincare products, and pet care products.
The idea for the company came from Dale King and Renee, who wanted to create natural products with therapeutic properties for their family, friends, and clients.
However, their business expanded due to the opioid addiction crisis in their hometown of Portsmouth. They realized that addiction is only the first step toward complete recovery, and providing work and a steady income is the next stage.
To achieve this, they decided to expand their product manufacturing and hire additional staff. One of their first employees was a young man who had recovered from addiction but needed stable employment.
Dale King and Renee met at Dale’s cross-fit facility, PSKC Cross Fit. Dale is a veteran of Operation Iraqi Freedom, and Renée is married to a retired military helicopter pilot.
Dale asked Renée, a mother of three, to create an ointment for gym-goers that could also be used as first aid for cuts and scrapes in the field.
This led to the development of Doc Spartan’s flagship product, Combat Ready Ointment, which is designed to heal wounds and scrapes that can occur during physical activity or manual labor.
It comes in various formats, including a large container, a chapstick-style dispenser, or a roll-on deodorant-style dispenser.
In addition to Combat Ready Ointment, Doc Spartan has expanded its product line to include all-natural deodorants, soaps, scrubs, and beard care products.
All their products are made with natural ingredients, such as coconut and essential oils. They are reasonably priced and can be purchased online through Amazon, on the Doc Spartan website, or in select retail locations.
Doc Spartan Shark Tank Pitch
Dale and Renée decided to present their product to the investors of Shark Tank during episode 16 of Season 8, hoping to expand their retail market.
On the show, they sought $75,000 in exchange for a 15% share in their company, which was valued at $500,000.
Dale asked the Sharks about their experiences with cutting themselves, including paper cuts from counting $100 bills with Kevin O’Leary.
They explained that their product, Doc Spartan, is a natural ointment that aids in healing cuts quickly. Dale distributed samples while engaging with the Sharks.
They shared the story of how they created the product and displayed before and after photos of cuts to demonstrate its effectiveness when Robert Herjavec asked about how it works.
They informed Robert that their goal was to get their product placed in the first aid section of retail stores. Currently, it is only available online and in a few gyms and tattoo shops.
It costs $0.95 to make a tin of ointment, and they sell it for $9.99. They have generated $56,000 in sales in the past 11 months.
Mark Cuban believed that they lacked sufficient research and declined to invest, while Lori Greiner was puzzled by the packaging.
Daymond John left the deal, stating that Lori knew more about testing and claims than the other Sharks.
Lori Greiner also walked out due to her concerns, and Kevin O’Leary, though fond of the product, did not believe it was a viable investment.
Robert Herjavec, however, was enthusiastic about the product and the entrepreneurs. He offered $75,000 in exchange for a 25% stake in the company, but Dale countered with a 20% share, which Robert declined.
Dale then offered to buy Robert the first beer if he accepted their offer, to which Robert agreed. The deal was closed, and after the show aired, they sold almost 4000 units in a week.
They are collaborating with Robert to have their product placed in PX stores on military sites and attend many trade shows.
They also expanded their range of personal care products and updated their Amazon storefront. As of November 2021, the company was still operating, generating an annual revenue of $1 million.
Competitors of Doc Spartan
Doc Spartan competes with A1 Skincare.
Net Worth of Doc Spartan
The firm was valued at $500,000 during the pitch, after the investment done by Robert Herjavec the company valued at $300,000. In 2021 the firm has an estimate net worth of $2.5 million.
Doc Spartan FAQs
What is Doc Spartan?
Doc Spartan is a firm that produces and distributes male, female, and animal hygiene products. These items include: underarm deodorants, scented and unscented soaps and scrubs, beard care oils, butter, and soaps, skincare products, and pet care products for the four-legged buddy.
Who is the founder?
Dale King and Renee from Portsmouth established Doc Spartan. The desire to create natural items with therapeutic properties sparked the concept for the firm.
How much were they asking on Shark Tank?
Doc Spartan was asking for $75,000 for 15% stake in their company at value of $500,000.
Did they get the deal?
Yes, the firm got their deal with Robert Herjavec for $75,000 for 25% stake of the company.
Is Doc Spartan still in business?
Yes, the firm is still in business in November 2021
Where is Doc Spartan from?
Doc Spartan is from the Portsmouth, United States of America.
What is each of Doc Spartan’s products?
Combat Ready Ointment: Combat Ready ointment is a cure for minor cuts and scrapes, as well as a perfect first aid lotion that can be used in the field by military personnel.
Is Doc Spartan successful?
Yes, they’ve made $1 million in sales within a year.
What is Doc Spartan’s business model?
The firm’s business model is a product-based one. They use their medicinal ointment as a base and expand their product line to include all-natural deodorants, soaps, scrubs, and beard care goods.
Why did Dale and Renee want to get on Shark Tank?
They wanted to be aired on the show because it would give the firm more publicity and increase their retail reach.
Where do I buy Is Doc Spartan?
Customers can buy their products on their website and through retailers including Amazon.
Is Doc Spartan a scam?
Doc Spartan is not a scam as they have been around for quite some time. The firm has been in the business for nearly 20 years, selling over $1 million of goods in a year.
Are the products safe for humans and pets?
The products are natural, created with essential oils, and not likely to cause any allergies or irritation. The firm uses chemicals that are FDA approved for the production of the goods.
Does Is Doc Spartan accept PayPal?
The firm accepts PayPal for all of their purchases.
How Do I contact Doc Spartan?
Consumers can get in touch with Doc Spartan by visiting their website www.docspartan.com or calling them on 740.353.4875 or email at [email protected]
What is the net worth of Dale King?
Dale King net worth is $700,000.
What is the net worth of Renee Wallace?
Renée Wallace net worth is $400,000.
