Heat Helper Shark Tank Net Worth 2023
As of 2023, it is unclear what the net worth of Heat Helper is. Lyle came to the Tank in Season 3 Episode 7 asking for $100,000 in exchange for a 50% stake in his company.
This would value his business at $200,000 and was discussed amongst the Sharks as they deliberated whether or not to invest in Lyle’s startup.
What is Heat helper?
Heat Helper is a device that can be connected to an electric laundry drying machine to redirect warm air into the home, which can help save money on heating costs and is environmentally beneficial.
It collects and filters hot air necessary for drying clothes and redirects it inside the house instead of sending it through an exterior vent. During the summer, a valve can be manually turned to allow hot air to escape.
The founder of Heat Helper is Lyle Schuette, who is based in Derby, Kansas. Schuette came up with the idea for Heat Helper when his wife was unable to do laundry due to a back problem. To solve this issue, he designed a technique to raise the dryer while recycling the heat produced to warm the house.
The name Heat Helper was chosen for this dryer exhaust attachment that filters out lint and dust before venting the heated air into another area.
It is important to note that Heat Helper only works with electric dryers. Schuette’s main source of income is his business, Schuette’s Dirt Works in Derby, Kansas, and Heat Helper is a side business that grew out of his wife’s need.
He is interested in taking Heat Helper to the popular television show Shark Tank to seek a potential business partner who could help him grow the company further.
What happen to Heat helper at the Shark Tank?
Lyle appeared on Season 3 Episode 7 of Shark Tank, offering a 50% stake in his company for $100,000, which meant a $200,000 valuation.
During his pitch, he explained the origins of his innovation and shared that he had sold around 680 units of his product, Heat Helper, through his website and major retailers like Lowe’s and Walmart. Each unit was priced at $99 and could potentially help families save up to $180 annually on heating expenses.
While the Sharks showed interest in Lyle and his product, some decided not to invest for various reasons. Daymond John asked about Heat Helper’s sales, but ultimately didn’t invest due to the risks of getting the product into large retail outlets.
Mr. Wonderful was more interested in Lyle’s dirt business and did not see Heat Helper as a significant opportunity. Barbara Corcoran was uncomfortable with the product due to its seeming wear and tear from being neglected in favor of Schuette’s dirt business.
Mark Cuban shared her concerns about the entrepreneur’s commitment to the product, and Robert Herjavec simply did not see the business as a worthy investment.
Although Lyle did not receive funding from the Sharks, he experienced a surge in online traffic and received thousands of inquiries after his Shark Tank appearance. He continued to operate his business, but it remained a side project while his main focus remained on Schuette’s Dirt Works.
In subsequent interviews, Lyle shared that he was in talks with a Canadian distributor and a Wichita manufacturer, but eventually closed the business in 2019 while still maintaining Schuette’s Dirt Works.
Heat helper Net Worth
Lyle comes to the Tank for Season 3 Episode 7 and asked for $100,000 in exchange for a 50% stake in his company. This equates to a $200,000 valuation.
Heat helper Competitors
Deflecto of Indianapolis, Indiana, manufactures a comparable device called Deflecto Extra Heat Dryer Saver.
Heat Helper FAQS
What is Heat Helper?
Heat Helper is a device that, when connected to a laundry drying machine, redirects warm air into the home.
It is not only environmentally beneficial, but it also saves money on the heating cost.
It collects, filters, and redirects the hot air necessary for drying your garments, which is generally sent through an exterior vent.
During the summer, a valve may be manually turned, allowing the hot air to escape.
Who is the founder of Heat helper?
Heat Helper was founded by Lyle Schuette of Derby, Kansas.
How much was he seeking in the Shark Tank?
He wanted $200,000 to purchase a 50% stake in his company.
Did he get the deal from the Sharks?
No, He was liked by the Sharks, and his product made sense to them.
Is Heat helper still in business?
He closed the business in 2019, however he still maintains Schuette’s Dirt Works.
Where was Heat helper located?
Lyle Schuette lives in Derby, Kansas. Lyle Schuette invented the device at his home in Derby.
What episode of Shark Tank was Heat helper featured?
Heat Helper was featured in Season 3 Episode 7 of Shark Tank.
When was Heat helper on Shark Tank?
The episode was aired on March 2, 2012.
How much was Heat helper costs?
Each unit costs $99 to purchase.
Where was Each Heat Helper selling?
It was possible to purchase a Heat Helper from Lowe’s and Walmart.
What was Heat helper website?
It is no longer active.
Who is a competitor of Heat Helper?
Deflecto Extra Heat Dryer Saver is a competitor to Heat Helper.
How did Heat Helper start?
Lyle Schuette started his business when his wife became unable to wash the laundry owing to a back problem.
Leaning over to grab clothes out of the dryer took a lot of work and caused a lot of discomfort, so Lyle set out to design a technique to raise the dryer while simultaneously recycling the heat that it produced to heat the house.
Was Heat Helper a successful business?
Yes, Lyle had a significant increase in online traffic to the firm website in the aftermath of the event, getting thousands of enquiries.
What did Heat helper do?
It’s a device that redirects warm air away from the dryer to heat a home during winter time.
Where was Heat helper manufactured?
It was manufactured in Wichita, Kansas.
What is the net worth of Lyle Schuette?
Lyle Schuette’s net worth is unavailable.