Quickstop Fire Sprinkler Tools Shark Tank Net Worth 2023
Quickstop Fire Sprinkler Tool appeared on Shark Tank in April 2014 and had a net worth of around 2 Million USD. The Quickstop Fire Sprinkler tool was valued at $1.5 million when it appeared on Shark Tank.
Matt Scarpuzzi, the founder of Quickstop, has a net worth of 2 Million USD as of 2023. Since appearing on Shark Tank, Quickstop has experienced tremendous growth and success.
They have secured additional funding and partnerships, leading to an estimated net worth of 2 Million USD.
It is unclear whether there will be any changes to Quickstop’s net worth in the future.
However, given its continued success and growth since appearing on Shark Tank, it is possible that its net worth will increase further.
What is Quickstop Fire Sprinkler Tools? Who is the founder of the Quickstop Fire Sprinkler Tool?
The Quickstop Fire Sprinkler Tool is a device designed to disable sprinkler heads once they have been triggered. While sprinklers are effective in putting out fires, accidental activation can result in unwanted and costly water damage.
This tool is widely used by homeowners, fire departments, and landlords, and has saved millions of dollars in property damage.
The tool operates in a similar manner to a pair of vice grips. By aligning the tool with the sprinkler head and squeezing, the stopper blocks the sprinkler, causing the water flow to stop.
The Quickstop Fire Sprinkler Tool has been tested to withstand pressures of up to 350psi, and can be used on both residential and commercial fire sprinklers, including half-inch and three-fourth-inch systems, regardless of the condition of the sprinkler head.
The Quickstop Fire Sprinkler Tool is a must-have for anyone who works with fire sprinklers, including firefighters, contractors, building supervisors, and homeowners.
It was created and invented by Matt Scarpuzzi, a firefighter who saw firsthand the damage that can occur when sprinkler systems are accidentally activated.
He developed the tool to help protect property owners and reduce the amount of water damage caused by unintended sprinkler activation.
When a single sprinkler is triggered unintentionally, it can quickly cause significant water damage. Shutting down the entire building’s sprinkler system to stop the flow to the problematic sprinkler can take up to an hour, resulting in even more damage.
Matt’s objective in developing the Quickstop Fire Sprinkler Tool was to provide citizens with a means of blocking water flow and protecting their property in the event of a sprinkler system malfunction.
Quickstop Fire Sprinkler Tools Shark Tank Pitch
Matt made an appearance on Season 5 Episode 24 of Shark Tank to find an investor who would be willing to provide $150,000 in exchange for a 10% stake in his company Quickstop, which would give the company a valuation of $1.5 million.
During his pitch, Matt demonstrated his product and provided samples to the Sharks. He claimed that he had sold $18,000 worth of his product in the past six weeks, which cost him roughly $25 to produce.
He sold his product for $89.95 to building owners, Homeowners Associations (HoAs), construction workers and foremen, hospitals, and various other organizations.
He also had additional products such as a house leak stopper and extended grips for hard-to-reach sprinkler heads, in addition to the firefighter version.
Matt revealed that he needed an investment to fulfill the existing orders he had received. However, Daymond John pointed out that the biggest challenge for QuickStop was educating potential customers about its benefits. Daymond wasn’t able to help with this, so he declined to invest.
Lori offered $75,000 for an 18% stake in the company but wanted another Shark to join her. Robert Herjavec believed that while the product was fantastic, there wasn’t a significant consumer market for it, and he wasn’t interested in investing.
Mr. Wonderful agreed to provide the remaining $75,000, but only if Lori and himself would share 50% of the stock.
Mark declined to invest, citing the product’s potential for operator error and the need for a large influx of staff to educate potential customers.
After some negotiation, Lori offered 40%, but Matt wasn’t willing to give up that much equity, so he turned down Lori and Kevin’s offer and left without a deal.
Matt’s company has become increasingly popular as his Quickstop Fire Sprinkler device is now available worldwide and in the United States.
In addition to growing his business, Matt still pursues his profession as a fireman and explores new ways to simplify daily tasks.
Currently, Matt’s products are only available through his company website, as he has yet to secure a partnership with a large store. This website is their primary source of revenue.
Over time, Matt has continued to see growth in sales, and as of August 2021, his business is still operating with an annual revenue of $1 million.
What is the net worth of Quickstop Fire Sprinkler Tools?
Matt appeared on Shark Tank Season 5 Episode 24 in search of a Shark willing to invest $150,000 for a 10% stake in Quickstop. This equates to a $1.5 million valuation.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Quickstop Fire Sprinkler Tools?
Shutgun is a direct competitor of Quickstop Fire Sprinkler Tools.
Quickstop Fire Sprinkler Tools FAQS
What is Quickstop Fire Sprinkler Tools?
Quickstop Fire Sprinkler Tools are fire sprinkler devices that stop the flow of water from a defective or damaged sprinkler head.
Who is the founder of Quickstop Fire Sprinkler Tools?
Matt Scarpuzzi invented Quickstop Fire Sprinkler tools.
How much was he seeking in the Shark Tank?
He requested an investment of $150,000 for a 10% stake in his Company.
Did he get the deal from the Shark Tank?
No, he left the Tank without a Shark deal.
How much is Quickstop Fire Sprinkler Tools?
They are presently sold at $89.95.
Where can they purchase Quickstop Fire Sprinkler Tools?
They can purchase them from their Official Website.
What is the website address of Quickstop Fire Sprinkler Tools?
The website address is www.quickstoptool.com
Does Quickstop Fire Sprinkler Tools work?
Yes, it works. It stops the flow of water from any broken or damaged sprinkler heads.
Where is Quickstop Fire Sprinkler Tools located?
They are located in Carlsbad, San Diego, in California.
What when was Quickstop Fire Sprinkler Tools aired on Shark Tank?
Quickstop Fire Sprinkler Tools was aired on Shark Tank Season 5, Episode 24 on April 11th, 2014.
Do Quickstop Tools work on recessed sprinkler heads?
Quickstop Tools are designed to operate on most recessed sprinkler heads; however, the exterior escutcheon may need to be removed.
Do Quickstop Tools have a fusible link feature?
Yes! When subjected to temperatures exceeding 250 degrees Fahrenheit, all of their tools are intended to release.
(Quickstop Tools are not intended to be kept in place indefinitely.) A replacement head should be inserted as soon as possible).
Is there a warranty on Quickstop Tools?
Their Commercial Tool and Multi-Tool are covered by a 5-year warranty and are entirely reusable with no shelf life.
Do Quickstop Tools work on concealed fire sprinklers?
No. Their instruments were created to work on the sorts of skulls that have the greatest accidents.
Because concealed heads are so well protected in the walls and ceilings, inadvertent activations are unusual.
What is the distinction between a commercial tool and a multi-tool?
Both instruments have the same ability to stop sprinklers; the multi-tool simply contains a few other tools typically used by firemen.
Does Quickstop Tools sell internationally?
Yes! Their tools are shipped all over the world. Please place their order through the website now, or contact them for information on local wholesalers.
Because import processes and prices are constantly changing, the Buyer is liable for all import duties and taxes on all purchases shipped outside of the United States at the time of delivery.
Does Quickstop Tools sell through Distributors?
Absolutely. They have distributors all around the United States, as well as a few abroad.
What is the net worth of Matt Scarpuzzi?
Matt Scarpuzzi’s net worth is unavailable.