Grease Monkey Wipes Net worth
Grease Monkey Wipes is a company that produces wipes that remove stains without water or soap. Its net worth has been estimated to be $1 million, although some sources suggest it could be as high as $5 million. The company appeared on Shark Tank with a valuation of $100,000.
What is Grease Monkey Wipes and Who founded Grease Monkey Wipes?
Grease Monkey Wipes are disposable wipes made with citrus-based solvents that effectively clean dirt, grease, oil, filth, and lubricants from both skin and surfaces, especially when soap and water are not available.
These wipes are gentle on the skin and do not require rinsing after use, making them very convenient in situations where water is scarce.
The concept for Grease Monkey Wipes was born during a bike ride when Tim Stansbury and Erin Whalen discussed the need for a portable solution to remove grease and dirt on the go.
They eventually developed the product through trial and error.
Therefore, Tim Stansbury and Erin Whalen are the creators and founders of Grease Monkey Wipes.
Grease Monkey Wipes Shark Tank pitch
After appearing on Shark Tank in 2010 and receiving an offer from Barbara Corcoran, Grease Monkey Wipes secured a Shark Deal and became a successful product for the Sharks.
However, despite their initial success, the founders, Tim Stanbury and Erin Whalen, eventually left the company after it was acquired by Beaumont Products Inc. in November 2014.
The product, which uses citrus-oil-based wipes to break down tough fats and oils, is still available for sale today and is being manufactured by Beaumont Products Inc., a manufacturer of natural and environmentally friendly products.
Grease Monkey Wipes Competitors?
Grease Monkey Wipes were the first of their kind on the market, however, they now have competition, such as Wipe New.
Wipe New’s liquid formula serves the same purpose as Grease Monkey Wipes, but it comes in a dry form and needs to be dampened before use, unlike Grease Monkey Wipes which are pre-moistened.
The net worth of Grease Monkey Wipes?
At the pitch, Grease Monkey Wipes was valued at $100,000.
Grease Monkey Wipes FAQS
What exactly are Grease Monkey Wipes?
Grease Monkey Wipes are pre-moistened wipes designed to remove grease and grime from hands, tools, equipment, clothing, and just about any other surface in the garage..
They are washing wipes with citrus extracts that are perfect for heavy-duty cleaning.
What components are in Grease Monkey Wipes?
During the presentation, Tim Stansbury stated that the oils used in wipes are obtained from juice firms after the fruits have been squeezed.
Tim Stansbury and Erin Whalen: Who Are They?
Tim Stansbury and his business partner Erin Whalen are both recreational cyclists who met through a training group some years ago and have remained close friends ever since.
What inspired them to create your product?
Erin Whalen claims that it was on one of those hundred-mile bike trips that she developed a flat tire, which Tim Stansbury assisted her in repairing.
She claims she got a flat tire and her hands were smeared in oil after fixing it.
They decided to co-found a firm that offers individually wrapped wet wipes that are enriched with citrus oils and powerful enough to remove all types of stains and dirt.
What’s the deal?
Stansbury and Whalen are seeking $40,000 for a 10% stake in the firm but they got a proposal deal of $40,000 for 40%.
Finally, Barbara Corcoran and Robert Herjavec agreed to go fifty-fifty on the sale, offering Tim Stansbury and Erin Whalen $40,000 in return for a 40% interest in Grease Monkey Wipes.
Grease Monkey Wipes: Where Can I Buy Them?
Grease Monkey Wipes are also widely available on Amazon.
How did the company grow?
Grease Monkey Wipes’ business grew after teaming with the sharks.
What distinguishes Grease Monkey Wipes from its competitors?
According to Tim Stansbury, the main distinction between Grease Monkey Wipes and its rivals is that they employ a citrus-based recipe and avoid utilizing harsh chemicals, making them environmentally friendly.
What exactly is the product?
Grease Monkey Wipes, these individually packaged citrus-oil-based wipes, were introduced.
What number of wipes have they sold?
Kevin O’Leary of Shark Tank asked Tim Stansbury how many wipes they had sold, to which Tim Stansbury said that the wipes had just been on the market for a couple of months, thus they had sold 7,600 wipes.
What’s the big deal?
They went there looking for a $40,000 investment in exchange for 40% of the company’s stock.
What became of Grease Monkey Wipes?
Beaumont Goods Inc., a major maker of naturally-made and eco-friendly products, acquired Grease Monkey Wipes for an unknown sum in 2014.
Who bought grease monkey?
Beaumont Products Inc. acquired the company.
How much did Stansbury sell Grease Monkey Wipes for?
In 2014, Beaumont Products paid an undisclosed price for the Grease Monkey Wipes Company.
How much money did Grease Monkey Wipes make?
Stansbury claims they’ve only been in business for a few months, but they’ve already sold over 7,600 wipes for a total of $7400.
What happened to grease monkey after shark tank?
Stansbury eventually bought out the investor Sharks and his partner, Erin Whalen, turning Grease Monkey Wipes into a hugely successful one-man show.
In November of 2014, Stansbury sold the brand to Beaumont Products for an unknown fee.
How Grease monkey wipes doing today?
The product is still sold today and continues to be manufactured through Beaumont Products Inc.
Did Grease Monkey Wipes secure a deal at the Shark Tank pitch?
Whalen and Stansbury secured a deal with Barbara Corcoran and Robert for $40,000 at a 40% ownership.
How much does Grease Monkey Wipes costs?
It cost $1 to buy.
Who founded Grease Monkey Wipes?
The company was founded by student James Stansbury and Erin Whalen.
Which Shark Tank Episode is Grease Monkey Wipes featured?
The episode featuring Grease Monkey Wipes was season 1 Episode 12.
Can you make money from grease monkey?
Yes, Grease Monkey Wipes is a product that is easy to sell and has a built-in market. However, these are not exclusive products and there are plenty of similar products available for sale.
