Invis A Rack Shark Tank Net Worth
During his appearance on Shark Tank, Donny McCall was seeking a $100,000 investment for a 10% stake in Invis-A-Rack, which valued the company at $1 million.
This means that he was willing to give up a portion of ownership in the company in exchange for financial support from the Sharks. The valuation of a company is an estimate of its worth and is often based on factors such as revenue, profit, growth potential, and market trends.
After the pitch, McCall did not secure a deal with the Sharks, but he continued to pursue his vision and eventually secured a licensing agreement with Dee Zee Inc. for worldwide exclusive rights to Invis-A-Rack.
The net worth of the company is not publicly available, but it is clear that McCall’s innovation has gained recognition and success in the automotive aftermarket industry.
What is Invis-A-Rack and Who Founded Invis-A-Rack?
Invis-A-Rack is a retractable truck rack system that can be used to transport items such as ladders, lumber, canoes, and kayaks, and can be folded up when not in use. It takes less than 30 seconds to assemble and disassemble.
Donny McCall is the founder and CEO of Invis-A-Rack.
The inventor of Invis-A-Rack is Donny McCall, who is from North Carolina. Donny is a graduate of the University of North Carolina and a former US Navy technician with a bachelor’s degree.
Donny is the owner of three businesses. Perrycraft is the first business he has operated for over 40 years, and it is where Invis-A-Rack was born. Perrycraft manufactures roof racks, truck racks, and other automotive accessories.
The second business Donny founded and runs are Pinpoint Local, which is a digital marketing agency that specializes in local marketing. The third business is Get Outside Events, LLC, which organizes outdoor athletic events.
Donny’s wife came up with the idea for the retractable truck rack because she did not like driving around in a vehicle that had racks installed, as she believed it looked like a work truck. Donny’s solution was to create a retractable rack that can be concealed when not in use.
Invis-A-Rack Shark Tank Pitch
During the pitch, Donny McCall sought $100,000 for a 10% stake in Invis-A-Rack, which valued the company at $1 million. He presented his retractable truck rack invention, which he created in response to his wife’s dislike of the appearance of his work truck.
He demonstrated how the Invis-A-Rack could be assembled and disassembled in under 30 seconds and revealed that he had sold 150 units, resulting in a profit of nearly $50,000.
However, despite the interest from the Sharks, the challenge for the company was the cost of production, which was around $250 per unit, but distributors would only pay $300 per unit. McCall needed to reduce the production cost to $150, which was not feasible in the United States.
When the Sharks suggested overseas manufacturing to reduce costs, McCall refused, causing several Sharks to back out of the deal. Eventually, McCall left the stage without any investment from the Sharks.
Despite the lack of investment, the appearance of Shark Tank generated attention, and sales increased in the weeks and months that followed.
Dee Zee Inc., a leading vehicle accessory producer, later acquired worldwide exclusive licensing rights to Invis-A-Rack. In February 2013, Invis-A-Rack announced the licensing agreement, with Dee Zee expressing their support for American manufacturing.
As of July 2021, Donny McCall is doing well, and he owns and operates three businesses. He is the president of Perrycraft, Inc., a family-owned business that produces roof racks, truck racks, and other automotive accessories.
He also runs Pinpoint, a local marketing-focused digital marketing organization, and operates Get Outside Events, LLC, a company that organizes outdoor sporting events.
Invis-A-Rack Net Worth
Donny was seeking $100,000 for a 10% stake in Invis a Rack. This represents a $1 million valuation.
Invis-A-Rack Competitor
Thule is a competitor of Invis-A-Rack.
Invis-A-Rack FAQS
Is Invis-A-Rack still in business?
The firm survives, owing to Donny’s pro-Made-in-America position.
Dee Zee Inc., a market leader in light vehicle accessories, has obtained international exclusivity for Invis-A-Rack.
Dee Zee is devoted to American producers, and Donny matched their market well.
Where is the Invis-A-Rack manufactured?
McCall is an American truck accessories company based in Iowa. Invis-a-Rack is currently produced in Des Moines, Iowa, by that firm, DeeZee, and sold for $733.95 on the company’s website.
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Who founded Invis-A-Rack?
Donny McCall, from North Carolina, is the inventor of Invis-A-Rack. A former US Navy Technician and University of North Carolina graduate.
He continues to run three businesses. Perrycraft, the company he’s run for close on 40 years and where he developed Invis a Rack
How much does Invis-A-Rack cost?
Distributors are only willing to pay around $300 each unit.
What materials are Invis-A-Rack made of?
Invis-A-Rack was made from aluminium and vinyl.
How long is Invis-A-Rack when fully extended?
Because the product has retractable wheels, you can determine its length. When fully extended, each unit measures 33 inches. The product’s diameter is 3 inches.
What happen to Invis-A-Rack at the Shark Tank?
Sharks didn’t invest in Invis-A-Rack but McCall stood his ground and left the Tank without a deal.
How is the business model for Invis-A-Rack?
The business model consists of a retail operation, which sells the product through custom fit vehicle accessory shops.
What are the strengths of Invis-A-Rack?
The product can be sold in any vehicle, and it’s ideal for use in any type of vehicle.
What are the weaknesses of Invis-A-Rack?
It’s an expensive product. Distributors are only willing to pay $300 on each unit, and the company isn’t making enough of them.
What is the cost to make Invis-A-Rack?
The Invis-A-Rack costs roughly $250 as for McCall.
Who sells Invis-A-Rack?
DeeZee Inc., of Sparta, NC, will exclusively distribute Invis a Rack in North America and the world.
Is the Invis a Rack made of aluminium?
Yes, the unit is made of aluminium, and it’s coated with a vinyl that protects it. The product is available in different colours.
How much does DeeZee Invis-A-Rack costs?
Their Price is $733.95.
Is there a warranty on Invis a rack?
Yes, DeeZee’s website includes warranty information regarding this product. Customers are eligible to receive one replacement if they experience a damage due to improper use of the product.
What are the main competitors for Invis- A-Rack?
The main competitor is Thule.
How is the Invis-A-Rack received by consumers?
Consumers have enjoyed using this product and have been very satisfied with its quality and workmanship.
What is net worth of Donny McCall?
Donny McCall has a net worth of 11 million.
Where is Invis-A-Rack headquartered?
Invis-A-Rack headquarters is located in Sparta, North Carolina.
