Rent A Grandma Shark Tank Net Worth 2023
Pliss, a company that connects grandmas with families seeking home-cooked meals and childcare services, entered Shark Tank season 3 episode 8 seeking $150,000 for 20% of their company which equates to a $750,000 valuation.
Since July 2022, the company has grown exponentially with more than 300 grandmas offering their services across the country and an app added to their service suite.
Although reliable revenue figures are not available, Pliss’ innovative idea and steady growth has made them one of the most interesting companies in Shark Tank.
What is Rent a Grandma?
Rent a Grandma is a comprehensive solution for all premium domestic staffing needs. Their team comprises of fully vetted, competent and experienced adult women who meet the high standards that one would expect from their own grandmother.
Rent a Grandma provides an industry standard that is unmatched. Every Grandma on their team is a certified baker who is always excited to whip up a fresh batch of cookies.
The founder of Rent a Grandma is Todd Pliss. He came up with the idea while working as a tutor to young entertainers, including the Jonas Brothers. He heard parents complaining about the difficulties of finding reliable babysitters among college students and teenagers who often got distracted.
Pliss decided to bridge the gap by connecting families in need with elder females who possessed the necessary domestic skills and expertise. He shut down his tutoring business and began the process of interviewing candidates, conducting background checks, and establishing the Rent a Grandma company.
What Happened to Rent a Grandma at the Shark Tank Pitch?
During season 3, episode 8 of Shark Tank, Pliss appeared seeking a $150,000 investment in exchange for a 20% stake in his company, which would value the company at $750,000.
He arrived in the Tank with one of his “grandmas” and used an example of how younger caregivers may be too distracted by technology to care for children properly.
In contrast, Pliss emphasized that his “grandmas” would be fully engaged with the children and even bake cookies. He handed out cookies to the Sharks, generating a lighthearted response.
Barbara Corcoran asked how long Pliss had been in business, to which he replied one year, with 50 grandmas in Los Angeles and calls coming in from around the country.
He earned $25,000 in his first year and plans to expand by offering franchises. The hourly rate for a grandmother ranges from $14 to $20, depending on the task.
Kevin O’Leary questioned how he could profit from the business, but Pliss’s response regarding a 15% profit margin did not satisfy him. Pliss explained that families pay for the service in advance, ensuring a steady income for the company.
However, the Sharks were not interested in investing. Daymond John thought it was a nice idea but declined, while Herjavec saw no room for expansion due to low sales. Corcoran and Cuban also declined to invest in the business.
What Happened to Rent A Grandma after the Shark Tank Pitch?
Despite leaving Shark Tank without a deal, Pliss persisted with his Rent a Grandma business. He abandoned the idea of franchising because it was too complex but instead launched a website similar to Angie’s List.
Interested “grandmas” pay a small, one-time fee to be listed on the website and must pass a background check. This allowed Rent-a-Grandma to expand and reach people worldwide, filling a gap in the domestic assistance market and providing employment opportunities for older women who may have otherwise been excluded.
Despite not securing a contract with the Sharks, Pliss has succeeded in creating a business that Grandma would be proud of. In fact, he plans to expand the company’s services by adding tutoring in 2020.
As of July 2021, over 300 grandmas from across the country are offering their services on the platform.
What is the Net Worth of Rent a Grandma?
Pliss entered Shark Tank season 3 episode 8 seeking $150,000 for 20% of his company. This equates to a $750,000 valuation.
Who are the Competitors of Rent a Grandma?
There are no competitors identified for Rent a Grandma.
Rent a Grandma FAQS
What is Rent a Grandma?
Rent a Grandma is a one-stop shop for all of their premium domestic employment requirements. Their Grandmas are thoroughly vetted adult ladies who are only the most competent, experienced personnel and fulfill the standards they will expect from their own “Grandma.”
Who are the Rent a Grandma founders?
Todd Pliss is the man behind Rent a Grandma.
How much were they seeking in the Shark Tank?
Pliss requested $150,000 investment in return for 20% of his company.
Did he get the deal from the Sharks?
No, he did not get the deal from the Sharks.
Is Rent a Grandma still in business?
Rent-a-Grandma is now available to people all around the world. The business is expanding, filling a void in the domestic assistance market and employing older women who might otherwise have aged out of the industry.
Where is Rent-a-Grandma located?
Rent a Grandma is located in Los Angeles, California.
How many members does Rent-a-Grandma have to date?
As of July 2021, there are over 300 grandmas from throughout the country giving services on the platform.
When was Rent-a-Grandma aired on the Shark Tank?
Rent a Grandma appeared on the Shark Tank season 3 episode 8 on March 9th, 2012.
How do Rent-a-Grandma make money?
Pliss notes that the families pay for the service in advance, so once the Grandma is engaged, the firm has no more work to perform.
Who will contact them about a job?
They will be contacted directly by the clients (the families).
How will people know what kind of employment or the hours are they interested in working?
They will directly discuss work specifics, hours, and scheduling with their family (employer).
Is Employment Guaranteed?
There is no assurance that they will find work. Rent A Grandma, on the other hand, has received national media attention and is expected to continue to do so.
Is there a fee?
Grandmas at non-franchised sites pay a nominal charge of $25 to support the costs of processing their background check and membership.
Many folks spend that much money on gas travelling to job interviews in a week.
A single day of work may easily compensate for that price several times over.
What is net worth of Todd Colby Pliss?
Todd Colby Pliss’s net worth is unavailable.
How much does rent a grandma cost?
Depending on their demands, each Grandma is hired out for $14 to $20 per hour.