Sheets Laundry Club Shark Tank Net Worth 2023
As of 2022, Sheets Laundry Club’s founder Chris Videau has a net worth of $6.25 million USD.
The company is growing rapidly and planning to launch new products . In June 2022, the product became available in more than 261 Harris Teeter stores across the United States.
Sheets Laundry Club appeared on Shark Tank in November 2021 and made a deal with Daniel Lubetzky for $500,000 in exchange for 8% equity and an extra 2% in advisory shares.
The final valuation was $6.25 million, which was lower than the founder’s original valuation of $10 million . After appearing on Shark Tank, the company saw an instant increase in sales revenue and capitalized on the sudden extra attention with an online coupon code that further drove sales.
The company is committed to helping save our planet by minimizing plastic waste and encouraging consumers to use their carefully manufactured pre-measured and dehydrated sheets as a plastic-free alternative to current cleaning and laundry options.
The brand has been reviewed positively among its consumers and has expanded beyond producing self-care products.
What is Sheets Laundry Club? Who is the Founder of Sheets Laundry Club?
Sheets Laundry Club offers eco-friendly and plastic-free options for laundry detergent, using gentle cleaning agents that are safe for both your skin and the environment.
These sheets eliminate the need for messy liquids or powders, as they contain pre-measured detergent that can be easily added to your laundry load. For smaller loads, use just one sheet, while for larger loads, use up to three.
They work equally well in hot or cold water and are biodegradable after use, with all packaging also being biodegradable. You can choose from two scents: fresh linen or unscented.
A pack of 50 sheets costs $19.99, or you can buy a variety of items in kits that combine washing and dryer sheets, aroma boosters, and stain fighters. Subscribers save even more money.
Sheets Laundry Club also offers other household cleaning items such as dryer sheets, floor cleaning sheets, dishwasher detergent, coconut scrubbers, deodorant, and soap.
The founders of Sheets Laundry Club are two Charlotte-based entrepreneurs, Chris Videau and Chris Campbell, who met through their children’s Tee-Ball game.
Videau, a military veteran, was inspired to start the company after seeing the negative impact of plastic waste during his travels. Campbell, CEO of Capital Management Investments, shared his vision of creating a sustainable solution to the plastic waste problem.
Sheets Laundry Club Shark Tank Pitch
On episode 7 of Shark Tank Season 13, Chris and Chris pitched their company in hopes of receiving $500,000 for a 5% stake, which would value their company at $10 million.
During their pitch, they explained their mission to reduce plastic waste by selling eco-friendly laundry sheets, which generated $1.2 million of their $2.04 million in sales in 2020.
They also discussed their exclusive agreement with Kimberly Clark, which allows them to use patented soluble laundry sheet technology in their products.
The Sharks were impressed with the product line, which includes 46 different SKUs, and tested the sheets themselves, which dissolved in water.
However, some Sharks had concerns about the royalty structure and the number of SKUs. Barbara, Mr. Wonderful, and Greiner all declined to invest, but Daniel made an offer of $500,000 for 10% of the business, which was negotiated down to 8% with 2% advisory shares. The Chris duo accepted the offer and were thrilled to work with Daniel.
After the show aired, Daniel shared footage on social media, expressing his enjoyment of working with Sheets, but admitting that the company name was a challenge for his Mexican accent.
What is Net Worth of Sheets Laundry Club?
Chris and Chris appeared on Shark Tank Season 13 Episode 7 in search of $500,000 for a 5% stake in their company. This implies a $10 million valuation.
They accepted an offer from Daniel of $500,000 for 8% and 2% advisory shares which bring valuation to be $6.25 million.
Who are the Competitors of Sheets Laundry Club?
Sheets Laundry Club competes with the following firms in its market: Tru Earth, Kind Laundry, Well Earth, Beyond Laundry Detergent Sheets, and Space White.
Sheets Laundry Club FAQS
What is Sheets Laundry Club?
Sheets Laundry Club is a Company that creates eco-friendly and plastic-free alternatives to traditional laundry detergents.
Who founded Sheets Laundry Club?
Sheets Laundry Club is the brainchild of two Charlotte, North Carolina entrepreneurs, Chris Videau and Chris Campbell.
What is Sheets Laundry Club’s mission?
Sheets Laundry Club’s mission is to reduce plastic waste. The company makes eco-friendly and plastic-free alternatives to traditional laundry detergents, helping people take control of their lives by making smarter purchases and choices.
How much were they seeking in the Shark Tanks?
Chris and Chris were seeking a $500,000 investment in exchange for 5% equity of their company.
Did they get the deal from the Sharks?
Daniel offered them $500,000 in exchange for 8% and 2% advisory shares which bring valuation to be $6.25 million.
How much money do they make?
Sheets Laundry Club makes $2.04 million in sales in 2020 with $1.2 million coming from the main product, detergent laundry sheets.
When was Sheets Laundry Club aired on Shark Tank?
Sheets Laundry Club was aired on Shark Tank Season 13 Episode 7 on November 19th, 2021.
Where are Sheets Laundry Club’s products sold?
The main source of selling for Sheets Laundry Club comes from online retail on Amazon.
Do they deliver to Canada?
They do, in fact, ship to Canada. Orders sent outside of the United States are charged a fixed cost of $3.99.
Are they natural?
They are composed entirely of natural substances.
Are they safe for sensitive skin?
Sheets Laundry Club has been tested for all skin types. They are safe for skin.
Are they eco-friendly?
Yes, the ingredients are biodegradable and recycled.
How much does Sheets Laundry Club cost to buy?
Cost & Products: $19.99 for 50 sheets – for 50 loads.
Is sheets laundry club successful?
According to the firm, they made around $2 million in sales in 2020, the year they went public. They estimate $7 million in sales this year, with a profit margin of 24 percent.
Sheets manufactures biodegradable detergent sheets that disintegrate in the washing machine while they clean their garments.
Where are sheets laundry club products manufactured?
Sheets Laundry Club goods are all manufactured in the United States. The components are suitable for those with sensitive skin.
Is sheets laundry club cruelty free?
Certainly not! They are suitable for vegans. They never utilize animal by-products or test their components or goods on animals. Their creators are passionate about animals.
Where is Sheets Laundry Club headquartered?
Sheets Laundry Club is headquartered in Mooresville, North Carolina.
When did Sheets Laundry Club start?
Sheets Laundry Club started in 2019.
How can they contact sheets laundry club?
For support or general questions, please email them at [email protected]sheetslaundryclub.com