Graffiti Removal Service Shark Tank Net Worth 2023
Paul Watts is a determined entrepreneur, showing up before the Sharks with an audacious suggestion. He is looking for $350,000 in exchange for a 15% stake of his startup business, Graffiti Removal Services.
This indicates that he values the company at around $2,333,333.33 – quite a bold statement of worth! Though it remains to be seen how the Sharks will respond to Paul’s offer and how Graffiti Removal Services can justify such a lofty valuation.
What is Graffiti Removal Service?
Paul Watts founded Graffiti Removal Services as a mobile franchise that specializes in removing graffiti using non-toxic and biodegradable products. He was inspired to establish the business after observing his fellow volunteers removing graffiti from local buildings and poles, and he believed that he could provide cities and municipalities with a cost-effective solution to combat this problem.
The Graffiti Removal Services mobile business features a truck that is equipped with state-of-the-art tools and techniques, and only one manufacturer’s ecologically friendly products are used.
Paul’s confidence in his franchise concept was based on his personal experiences as a maintenance worker for the city of Sacramento and his belief in the effectiveness of the biodegradable products he intended to offer to his franchisees.
Graffiti Removal Services is committed to providing affordable services to combat graffiti vandalism and help property owners maintain their property values. The company takes a responsible approach to graffiti removal, using products that are both effective and environmentally friendly, minimizing the impact on the surrounding area.
What happen to Graffiti Removal Service at the Shark Tank Pitch?
Paul Watts approached the investors on Shark Tank with a bold proposal. He requested $350,000 in exchange for a 15% stake in his company, Graffiti Removal Services, which valued his business at $2,333,333.33. During the demonstration, Watts showcased how his products effectively removed graffiti from street signs.
When Robert Herjavec inquired about the franchise model, Watts confirmed that he did not create the items but that they were only available from the producer. He stated that his company-owned business generates $230,000 in annual revenue and a net profit of $75,000.
Despite doubts from the Sharks about the company’s worth, Herjavec offered the investment but with the condition that he would keep 75% of the business, making Watts an employee. Kevin O’Leary proposed a partnership with Herjavec, but Watts declined the offer.
Although he claimed to be indifferent to money, O’Leary became angry when Watts refused the deal. Watts eventually left without securing an investment.
However, Watts’ bold move proved to be a calculated gamble that paid off. He relocated to Portland, Oregon, where he now works for the Urban Restoration Group as a US Agent. In 2015, he unveiled his Graffiti Removal Bike, which can be found in various prominent graffiti locations around the city.
The bike is capable of transporting his paint and power washers, which is beneficial for removing graffiti in tight areas. Today, after 21 years in business, Watts continues to fight against “urban blight” with his successful Graffiti Removal Services.
Graffiti Removal Service Net Worth
Paul Watts approaches the Sharks with an audacious suggestion. He is seeking $350,000 for a 15% interest in Graffiti Removal Services. This indicates a value of $2,333,333.33.
Graffiti Removal Service Competitors
There is no update about the Competitors.
Graffiti Removal Service Shark Tank Updates
Paul Watts appeared on Shark Tank in season 1 to pitch his company, Graffiti Removal Services. Watts was asking for $350,000 in exchange for a 15% stake in his company.
However, none of the sharks made an offer, and Watts left without a deal. Despite not receiving an investment from the sharks, Graffiti Removal Services still exists today and is operational in Portland, Oregon.
In an interview, Watts stated that the show did not produce any new revenue for his company, but he was able to move his business to Portland, Oregon, where there is more graffiti.
Although growth was not as rapid as he might have liked, Graffiti Removal Services continues to thrive. The company uses a fleet of trucks and bikes to offer environmentally friendly graffiti removal services.
There is no mention of any updates or changes to Graffiti Removal Services specifically related to Shark Tank. However, it is clear that the company has continued to operate and grow despite not receiving an investment from the sharks.
Summary Table: Graffiti Removal Service Shark Tank Net Worth in 2023
|Company Name||Graffiti Removal Services|
|Service||Mobile franchise for removing graffiti using non-toxic and biodegradable products|
|Valuation on Shark Tank||$2,333,333.33|
|Funding Sought on Shark Tank||$350,000|
|Equity Offered on Shark Tank||15%|
|Sharks’ Response to Shark Tank||No investment offered|
|Current Status||Operational in Portland, Oregon|
|Updates since Shark Tank||Unveiled Graffiti Removal Bike in 2015|
|Net Worth (estimated)||Not disclosed|
|FAQ||Provides environmentally-friendly graffiti removal services and works with communities to create anti-graffiti task forces|
Graffiti Removal Service FAQS
What Is Graffiti Removal Service And How Does It Work?
Graffiti Removal Service is a company that offers graffiti removal services using a proprietary cleaning product, paint-matching capabilities, and power-washing.
The company uses a non-toxic, water-soluble, biodegradable graffiti cleaning system that is easy on the environment and highly effective.
Graffiti Removal Service works with communities to create proactive anti-graffiti task forces to spot graffiti and remove it quickly. The company uses a fleet of trucks and bikes to access graffiti in the Portland Metro area.
To start a graffiti removal business, one needs to remove unwanted graffiti from a variety of surfaces and buildings, most commonly done via pressure washing and repainting. The target market for a graffiti removal business is business owners, school boards, city managers, and other property owners.
The day-to-day activities of a graffiti removal expert involve taking calls from existing clients and making calls to prospective clients, driving a truck or bike to access graffiti, and using pressure washing and repainting to remove the graffiti.
Removing graffiti does not require a great deal of work experience and can be learned on the job through trial and error.
The market for graffiti removal services is in demand, and one marketing option is to visit businesses that are often the victims of graffiti vandalism and offer them a low-cost graffiti-removal solution.
It is important to balance the temperature, type of graffiti, type of surface that has been tagged, and time when it comes to graffiti removal so that additional damage does not occur.
Who Is The Graffiti Removal Service’s Founder?
Paul Watts, a former city worker in Sacramento, California, created Graffiti Removal Services. He has developed a non-toxic, biodegradable solution for graffiti removal.
What Was The Outcome Of Graffiti Removal Service Shark Tank Pitch?
During his pitch on Shark Tank, Paul Watts, the founder of Graffiti Removal Services, asked for $350,000 in exchange for a 15% stake in the company.
However, none of the sharks made a deal with him, and he walked off the stage with no investment. Despite not receiving an investment, Graffiti Removal Services is still operational and offers environmentally friendly graffiti removal services using a fleet of trucks and bikes.
After the show, Watts continued to grow his business and moved it to Portland, Oregon, where there is more graffiti. Although the show did not produce any new revenue for the company, Graffiti Removal Services continues to thrive due to hard work, persistence, and a great staff.
Did Any Of The Sharks Invest In Graffiti Removal Services?
During the Shark Tank pitch, Paul Watts, the founder of Graffiti Removal Services, asked for $350,000 in exchange for a 15% stake in the company. However, none of the sharks made a deal with him, and he walked off the stage with no deal.
Despite not receiving an investment, Graffiti Removal Services is still operational and offers environmentally friendly graffiti removal services using a fleet of trucks and bikes.
What Happened To Graffiti Removal Services After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Graffiti Removal Services continued to grow and expand its business. Despite not receiving an investment from the sharks, Paul Watts, the founder of Graffiti Removal Services, continued to work on his business and secured a contract with a graffiti removal company.
He also started selling the chemicals he uses as retail products. Graffiti Removal Services is still an active company and offers environmentally friendly graffiti removal services using a fleet of trucks and bikes. The company’s net worth is estimated to be around $16 million as of 2022.
Where are Graffiti Removal Service’s headquarters?
The headquarters of Graffiti Removal Service are located at SE Ankeny St, Portland, Oregon, United States.
What is Graffiti Removal Service’s phone number?
The phone number for Graffiti Removal Service is (503) 231-1414.
What is Graffiti Removal Service’s official website?
The official website for Graffiti Removal Service is www.removegraffiti.net.
What should they do before they remove graffiti?
Before beginning the graffiti removal process, ensure that the surface is dry and dirt-free. Begin at the top of the surface and work your way down, catching any liquid as they go.
What was the weaknesses of Graffiti Removal Service’s?
Graffiti Removal Service’s business model is based on the assumption that a partner, who can be either a client or a franchisee, will decide to hire them to remove graffiti from his property.
It is not clear whether any of the businesses in this area are in fact hiring graffiti “removers” directly.
Why was Graffiti Removal Service’s pitch rejected?
Shark Tank rejected Graffiti Removal Service because of its high valuation.
How did Graffiti Removal Service get its name?
The company was originally named Graffix Ink. The founder, Paul Watts, took it upon himself to rename the company Graffiti Removal Services in order to make it more appealing to customers and franchisees.
Does Graffiti Removal Service have any social media presence?
Yes, it does have a substantial presence on Facebook and Twitter.
Is graffiti removal profitable?
Profitability is primarily dictated by the location in which they live and the frequent contracts they obtain. Thus, with enough clients and effort, this may be a highly rewarding career.
Is Graffiti Removal Service’s a good investment?
Graffiti Removal Service’s is a good investment because the main focus of this company is to make environment friendly spray for removal graffiti.
This adds to its value as this will be used by many people and thus it will add profit as well.
What is net worth of Graffiti Removal Service?