PureAyre Shark Tank Net Worth 2023
Pure Ayre appeared on Shark Tank in 2021 and had a $1.5 million valuation at the time. As of 2023, the company is still up and running and has earned a whopping $5 million in annual revenue.
The net worth of Pure Ayre as of 2022 is also estimated to be $5 million. James Mitchell entered the Shark Tank seeking a $150k investment in exchange for a 10% stake in his company.
PureAyre is still up and running in January 2023. In just three years, it has seen astonishing success and growth, earning a whopping $5 million in annual revenue.
Pure Ayre’s popularity is attributed to its natural cleaning products that are safe for people, pets, and the environment.
What is PureAyre?
PureAyre is a company that produces non-toxic and ecologically safe odor eliminators. Its formula disintegrates the molecules responsible for foul odors without leaving any scent behind.
The product is gentle on the skin and can also freshen breath. Its aim is to replace harmful air fresheners that are detrimental to the environment. PureAyre can be safely sprayed near people, dogs, and food.
James Mitchell, the founder of PureAyre, attended Stephen F Austin High School and later the High School for the Performing and Visual Arts where he performed in concerts and recitals. Currently, he oversees the day-to-day operations of the company.
The driving force behind PureAyre is Mitchell’s desire to make the world a better place by creating a 100% harmless product.
After realizing that most of the air fresheners readily available in grocery stores and supermarkets contained harmful chemicals that could cause significant environmental damage, he set out to develop a natural solution.
PureAyre effectively eliminates odors such as pet odors, urine, and smoke, and performs the same function as other popular air fresheners.
However, unlike those products, PureAyre contains no alcohol or synthetic fragrances and does not pollute the air. It is safe to use around people, pets, and food.
PureAyre Shark Tank Pitch
James Mitchell waited outside before the airing of Shark Tank Season 2 Episode 3, hoping to find a Shark investor to assist him with scaling and distributing his product.
When he entered the Shark Tank, he pitched his company, PureAyre, and asked for a $150,000 investment in exchange for a 10% stake, which valued his company at $1.5 million.
Mitchell promoted his product as the only safe and natural one available in the market and demonstrated its use as a breath freshener to Barbara Corcoran.
The Sharks expressed interest in a patent, but Mitchell did not hold one, as he feared it might invite imitators. This was a hurdle to overcome, as a lack of a patent could be a problem in getting investors.
However, Mitchell regained some ground when he revealed that he had sold over $3 million in merchandise since the company’s founding.
The Sharks became worried about the company’s successes and failures when Mitchell reported that PureAyre had been pulled off Walgreen’s shelves. Kevin O’Leary asked Mitchell how he planned to re-enter the market.
Barbara Corcoran and Kevin Harrington both passed on the investment opportunity, stating that Mitchell had no idea what he was doing.
Daymond John made an offer of $150,000 in exchange for 50% ownership of the company, while Kevin O’Leary countered with an offer to buy the entire company, leaving Mitchell with a 7% royalty on the product for the rest of his life.
Robert Herjavec asked Mitchell if he was willing to sell the entire company, but Mitchell hesitated to make a decision and decided to consult with his wife.
While Mitchell was making his decision, Kevin O’Leary and Daymond John made a joint offer to acquire the company for $150,000 and offer Mitchell a lifelong 7% royalty, but without giving him any control over the matter.
Robert Herjavec offered an additional $75,000 to join the deal, but Mitchell declined all offers and left the Shark Tank without a deal.
Despite not landing an investment on Shark Tank, PureAyre has continued to thrive. The company’s products are available on various online platforms such as chewy.com, Walmart.com, and Amazon.com, and the company’s social media accounts remain active.
As of 2021, the company generates $5 million in income each year, and Mitchell has expanded his product line to include the PureAyre Dogs Kit, which uses natural ingredients to eliminate pet odors.
Competitors of PureAyre
The primary competitors are air freshener called Odormel and Odor Eliminator Company.
Net Worth of PureAyre
The company was valued at $1.5 million during and after the pitch. In 2021 the company has a net worth of $4.5 million.
What is PureAyre?
PureAyre is a spray intended to eliminate odors including cigarette smoke, pet odors, and food leftovers. The product is a safe natural air freshener that will not harm or pollute the environment. PureAyre also acts as a breath freshener with peppermint oil in it.
Who is the inventor?
James Mitchell is the inventor of PureAyre and owner of Mitchell’s Product Solutions.
How much was he asking on Shark Tank?
Mitchell was seeking for $150,000 for a 10% stake in the company.
Did he have the deal?
No, he didn’t have a deal on Shark Tank.
Is PureAyre still in business?
Yes, the firm is still in business and is generating $5 million in revenue each year.
How much is PureAyre worth Now?
The business has a net worth of $4.5 million as of 2021.
What is the benefit of PureAyre?
Using both a breath freshener and an air freshener, PureAyre eliminates odors from around a person’s home. The company does not use any harmful chemicals in their products including alcohol or synthetic fragrances, which can be harmful to humans or wildlife.
PureAyre also helps to eliminate indoor pollution caused by things like pet odors, dirty feet, and smoke.
How Does It Work?
When sprayed, PureAyre eliminates all smells from fabrics, carpets and furniture leaving them smelling fresh and clean. The fragrance does not last long.
Are there any rivals of PureAyre?
There aren’t direct competitors of PureAyre. The nearest closest competitor may be Odormel, which sells an air freshener called Odormel that does the same job as PureAyre. It is safe to say that Odormel and PureAyre are direct competitors.
Is PureAyre safe to use?
Yes, PureAyre is safe to use in homes, cars, and offices. The ingredients used include all natural products including peppermint oil that helps improve breathing and eliminate bad odors.
Does PureAyre work on pets?
Yes, PureAyre can be used on any fabric including those in pet beds. The spray eliminates odors on pets like dogs and cats that can cause allergies for people with sensitive noses.
Does it have any side effects?
PureAyre comes in wild mint, which contains peppermint oil, and wild orange, which contains orange oil. The mint may cause a burning sensation when sprayed on sensitive skin or an allergic reaction if sprayed into the eye.
How do I buy PureAyre?
Customers can purchase PureAyre at Walmart.com, chewy.com and amazon.com for about $5 for a 6-ounce bottle.
What ingredients are in PureAyre Spray?
The ingredients in PureAyre include cedar leaf oil, peppermint oil, orange oil, spearmint oil and water with a propellant mixed in.
What is the price range of PureAyre?
It costs about $5 for a 6-ounce bottle of PureAyre.
What is the net worth of James Mitchell?
James Mitchell has a net worth of $1.5 million.