GarmaGuard Shark Tank Net Worth 2023
GarmaGuard Shark Tank Net Worth
GarmaGuard’s net worth before appearing on Shark Tank was estimated to be $1 million, and as of 2023, their net worth is estimated to be between $500,000 and $800,000.
Despite not receiving an investment from any of the Sharks, GarmaGuard continues to operate and generate revenue.
GarmaGuard is a germ and Viruses Killing Spray that was founded by Bianca and Peter Badawy in 2017. The company appeared on Shark Tank in October 2021, with the founders asking for $100,000 in exchange for 10% of their company’s equity.
What is GarmaGuard? Who Founded GarmaGuard?
GarmaGuardTM is a non-GMO garment and fabric cleaner that is meant to be sprayed on garments, textiles, and soft surfaces to eliminate germs that cause odours.
Citric acid is the major constituent, a highly powerful organic molecule that is well-known for its ability to destroy germs.
Peter Badawy invented the device and is currently the Chief Executive Officer of the product’s parent business, Elysian Labs.
Prior to his appearance on Shark Tank, he worked as a police officer for the United States Army.
He is devoted to the principle of his firm, which is to clean garments and fabrics with safe and organic solutions.
The pair developed an appropriate recipe with the assistance of a business named Elysian Labs.
GarmaGuard contains no bleach or harsh chemicals and is thus safe to use on uniforms, shoes, and headgear.
They primarily sell to first responders and front-line employees, but would gladly sell to the general public as well.
They are now available on a variety of websites that provide police and nursing goods.
Additionally, the product is available on Amazon.
A can of spray with more than 200 applications costs $12.99. When purchasing in quantity, the cost per can decreases.
GarmaGuard Shark Tank Pitch
Bianca and Pete appeared on the TV show Shark Tank, wearing protective Tyvek suits, in hopes of securing a $100,000 investment for a 10% share in their business, which they valued at $1 million.
During their pitch, they demonstrated how germs can easily cling to clothing by throwing velcro balls at an actor named Joe. They then showcased their product, which is both antibacterial and antiviral.
After the Sharks evaluated the samples, Mr. Wonderful described their presentation as “fantastic terrible theatre.”
However, Blake was impressed and believed that their product could save people money on dry cleaning for odor removal. He put the product to the test by using it on his own shoes and declared that it worked.
The product costs $1.85 to manufacture and retails for $12.99, and all sales are conducted online. The company has been in operation for a year and a half and has a total revenue of $476,000.
Kevin suggested that if they could demonstrate that the product kills Covid on clothing, it would be a significant selling point. However, Pete stated that they were about a year away from achieving that milestone.
Mark complimented the product but believed that they needed to become an excellent marketing firm, which they were still developing.
Kevin expressed interest but ultimately decided to pass.
Daymond thought they could expand the business without an investor’s help and opted out. Lori stated that she would become a customer but that it was too early for her to invest.
Blake was interested in their sales forecast for 2020, and Pete estimated that they would sell $500,000 and earn $100,000 in profit.
Blake advised them to hold off on finding an investor at this time, given their current situation. In the end, they did not secure a deal with any of the Sharks.
As of July 2021, their product still lacks a “kills Covid” badge, but the business continues to operate and generates between $500,000 and $800,000 in revenue.
GarmaGuard Net Worth
Bianca and Pete visit the Shark Tank dressed in Tyvek suits, seeking $100,000 in exchange for a 10% stake in their firm. This indicates a $1 million value.
GarmaGuard Competitor
GarmaGuard Competitors include;
BioPro Research, Inc., based out of Chicago, seeks to develop products that can be used to fight against deadly pathogens.
BioPro’s methods are based on the same principles as natural anti-pathogens.
GarmaGuard FAQS
Where is GarmaGuard made?
Each bottle of GarmaGuardTM has a 30-day supply and is proudly manufactured in the United States of America.
Who is the GarmaGuard?
Peter Badawy invented the device and is currently the Chief Executive Officer of the product’s parent business, Elysian Labs.
Prior to his appearance on Shark Tank, he worked as a police officer for the United States Army.
He is devoted to the principle of his firm, which is to clean garments and fabrics with safe and organic solutions.
What is GarmaGuard?
GarmaGuardTM is the first non-GMO, natural on-the-go garment and fabric cleaner designed to combat germs that cause odour on all types of clothes, textiles, and soft surfaces.
Does GarmaGuard provide sanitization?
GarmaGuard eliminates odours at their source thanks to its key component, citric acid, which has a long history of use as a safe and efficient cleaner and disinfectant.
Who is Blake in shark tank?
Blake Mycoskie is a serial entrepreneur, philanthropist, and bestselling author best known for establishing TOMS Shoes.
He is also the creator of One for One, a business model that donates a pair of shoes to a person in need for every product purchased.
Is GarmaGuard still operational?
The business continues to operate and generates between $500,000 and $800,000 in revenue.
What components are contained in GarmaGuard
GarmaGuardTM contains Citric Acid in combination with a unique blend of organically derived substances.
Is GarmaGuard effective against bacteria?
GarmaGuard is an all-natural citric acid mix that is utilized in a wide variety of household cleaning products.
It deodorizes garments and has been shown to be effective against some germs and viruses.
Medical experts, law enforcement, and other first responders rave about GarmaGuard.
Did GarmaGuard get a deal on Shark Tank?
Despite enthusiasm in their fabric cleansing spray, the left eventually abandoned the Tank.
How is the business model for GarmaGuard?
GarmaGuard’s business model is to market the product as a non-toxic, natural, and safe alternative to chemical disinfectants.
The firm intends to utilize each of its target markets as a way to cultivate consumers for its retail products.
Who owns GarmaGuard?
Pete Badawy and Bianca Badawy own GarmaGuard.
How does GarmaGuard make money?
GarmaGuard operates as a supplier of environmentally friendly products for homes, cars, offices, and businesses.
Has GarmaGuard ever been on Shark Tank?
Bianca Badawy and Pete Badawy appeared on the October 16, 2016 episode of Shark Tank seeking $100K in exchange for 10% of their business. They left without a deal.
Which episode of Shark Tank featured GarmaGuard?
Bianca Badawy and Pete Badawy made their pitch in Episode 1 season 12.
What is GarmaGuard’s phone number?
If they would like to contact the business by phone, call 1-800-792-2464.
What is the net worth of Pete Badawy?
Unknown.
What is the net worth of Bianca Badawy?
Unknown.
