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.
Heat Helper Shark Tank Summary:
| HEAT HELPER | |
| Year | 2023 |
| Net worth | Unclear |
| Founder | Lyle Schuette |
| Product | Device that recycles warm air from a dryer into a home |
| Valuation at Shark Tank | $200,000 |
| Amount asked for on Shark Tank | $100,000 for a 50% stake |
| Investment outcome on Shark Tank | No deal |
| Sales | Around 680 units |
| Price per unit | $99 |
| Savings per year per unit | Up to $180 |
| Competitor | Deflecto Extra Heat Dryer Saver |
| Status | Closed in 2019 |
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 Shark Tank Updates
Lyle Schuette appeared on Shark Tank in Season 3 Episode 7 seeking $100,000 for 50% of his company, the Heat Helper, which is a dryer home heater.
The Heat Helper is a device that attaches to a laundry drying machine and reroutes the warm air into the house, saving money on heating bills and being eco-friendly.
Lyle sold a little under 700 units on his website and at some local Lowes and Walmarts. The Sharks liked Lyle and his product, but he did not get a deal.
After the show, Lyle saw a huge surge in web traffic to the company website and was fielding thousands of inquiries. He manufactured the product in Wichita and was working on distribution deals.
However, the Heat Helper did not take off as fast as it could have because Lyle still runs it as a side business.
He closed the business in 2019, but he still maintains Schuette’s Dirt Works. The Heat Helper website is no longer up, but Deflecto of Indianapolis, Indiana is making a similar product.
Heat Helper FAQS
What Is Heat Helper And How Does It Work?
The Heat Helper is a device that can be attached to a laundry drying machine to recycle the warm air from the dryer into a home, reducing the cost of heating bills and benefiting the environment.
The device is only applicable with electronic dryers because electric dryers use the air in the home and heat it, and the hot air is eventually exhausted from home.
The Heat Helper can receive, filter, and reroute the warm air coming from the dryer instead of it going out through the exhaust. The device has a valve that can be manually turned to direct the warm air to the exhaust instead if the home is already warm.
The Heat Helper was invented by Lyle Schuette, who owned a business in Derby, Kansas. He came up with the idea when taking out laundry from the dryer and realizing he could dry clothes and heat his home simultaneously.
The Heat Helper pays for itself in lower heating bills in the first year4. However, the company is no longer in business.
Who is the founder of Heat helper?
Heat Helper was founded by Lyle Schuette of Derby, Kansas.
What Happened To Heat Helper After Shark Tank?
The Heat Helper, a dryer exhaust attachment device that recycles warm air from the dryer into the home, was pitched on Shark Tank by Lyle Schuette in Season 3 Episode 7.
He sought $100,000 for a 50% stake in the company, but none of the sharks invested in the product. After the show, Schuette signed a partnership with a Canadian distributor and a Wichita manufacturer, but the success was short-lived.
In 2019, Schuette closed the business because he wanted to pay more attention to his primary business, Schuette’s Dirt Works.
The Heat Helper was an eco-friendly device that saved energy and money. It caught, filtered, and redirected the hot air required for drying clothes, which is normally sent through a vent outdoors. Instead of wasting that energy, the hot air could be used to heat the home in the winter. The Heat Helper paid for itself in lower heating bills in the first year.
There is no recent update on the company’s progress or current net worth. The Heat Helper website is no longer up, but Deflecto of Indianapolis, Indiana, is making a similar product.
What Was The Outcome Of Heat Helper Shark Tank Pitch?
Lyle Schuette appeared on Shark Tank in Season 3 Episode 7, pitching his invention, The Heat Helper, which is a dryer exhaust attachment device that can recycle the warm air from a dryer into a home, reducing the cost of heating bills.
Schuette was seeking $100,000 for a 50% stake in the company, but the Sharks did not invest, as they felt that Schuette was not fully invested in the business. Although the Heat Helper did not receive any offers, it did receive the needed publicity.
After the Shark Tank episode, Schuette was talking with a Canadian distributor and a Wichita manufacturer, but he admitted that his primary business, Schuette’s Dirt Works, was his main focus.
As of January 2019, The Heat Helper website was no longer up, and the company is no longer in business. However, Deflecto of Indianapolis, Indiana, is making a similar product.
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.
