Shower Toga Net Worth
Kressa Peterson, the founder of Shower Toga, has a net worth of $300,000 as of 2022. The company was valued at $242,424 during its appearance on Shark Tank and is currently worth $200,000.
Shower Toga’s lifetime sales equated to about $80,000 at the time of its appearance on Shark Tank.
What is Shower Toga and Who is the founder of Shower Toga?
Shower Toga is a unique device that allows individuals to maintain complete privacy while changing or showering in public. This makes it an ideal tool for those who enjoy outdoor activities such as runners, beachgoers, hikers, and cyclists.
Additionally, it can be used as a bag for dirty clothing or a wet suit. Simply wrap the Shower Toga around your waist or armpits, tighten the drawstring, and change or shower as needed.
Kressa Peterson is the founder of Shower Toga. Prior to launching Shower Toga, Kressa worked in direct mail advertising with her husband in the 1980s.
Later on, she utilized her knowledge to run Kressa Peterson International Sport Horses from 2010 to 2017, a company she was passionate about since she was a rider herself. Even now, Kressa is still the CEO of Shower Toga and oversees its daily operations.
Kressa came up with the idea for Shower Toga after being diagnosed with cancer and participating in Spartan races to keep herself distracted. She realized that there was no efficient way to clean herself after becoming really muddy from the races.
Thus, she created her first prototype out of diaper cover material and started wearing it after her races. The Shower Toga, which she designed, is made of water-wicking nylon fabric and is long enough to wrap around a person’s body.
It is constructed with locking cords for fastening and has compartments for soap and shampoo, as well as side access pockets for the showerhead.
Kressa successfully launched the company through a Kickstarter campaign that raised $14,735. In July 2017, she delivered the first batch of Shower Togas to her backers. The product gained popularity among people who love outdoor activities and is now widely available on Amazon for $35.
Shower Toga Shark Tank pitch
After a successful Kickstarter campaign, Shower Toga founder Peterson partnered with several organizations, including The Shark Bite Half Marathon, Savage Race, and The Mud Titan Run. She also pitched her product to Shark Tank investors, hoping to secure a partnership.
During the pitch, Peterson requested $80,000 for a 33% stake in her company, which was valued at $242,424. She explained that she had earned $80,000 in her first year of business, and the Sharks were impressed with her profit margins. She sold Shower Toga for $35 at retail, $16 at wholesale, and $2.85 at home.
Although Kevin suggested that a garbage bag could serve the same purpose, Peterson was unconvinced. She became emotional as she described her battle with cancer and shared her vision for Shower Toga to be used by FEMA in the aftermath of natural disasters.
Ultimately, Mark and Alli teamed up to offer $80,000 for a 40% stake in the company at a valuation of $200,000, which Peterson accepted. Following the successful pitch, Shower Toga continued to sell on its website and on Amazon.
During the 2020 Covid-19 pandemic, Shower Toga offered front-line employees and first responders half-priced items so that they could shower before returning home and reducing the risk of spreading the virus to their families.
As of 2021, the company is still in operation and has not undergone a rebranding. Additionally, it has experienced revenue growth.
Competitors of Shower Toga
Shower Toga’s competitor is; The Swim Outlet Company (a division of Herschel Supply Co.)
Net Worth of Shower Toga
During the pitch, the company was valued at $242,424 and after the transaction, with Mark and Alli the company valuation was $200,000 and they have had vigorous sales since then.
Shower Toga FAQs
What is Shower Toga?
Shower Toga is a device that allows individuals to change and shower in public while being completely private, making it ideal for runners, beachgoers, hikers, cyclists, and others.
It’s also useful as a bag for dirty clothing or a wet suit. Simply wrap the toga around the waist or armpits, tighten the drawstring, and change or shower as needed.
Who is the founder?
Kressa Peterson founded Shower Toga.
What is her offer on Shark Tank?
Peterson was seeking for $80,000 for a 33% stake in her company, valued at $242,424.
Did she get an offer?
Yes, she got an offer from Mark and Alli.
What is the price offered?
Mark and Alli offered $80,000 for 40% stake in her company at a valuation of $200,000. They closed the deal.
Is still in business?
Yes, she is still in business.
Are the Sharks interested in their product or service?
Yes, Mark and Alli were interested in their product.
Where can I buy Shower Toga?
Shower Toga is sold at Amazon as well as their online store.
How does it work?
To use the device, they simply wrap the toga around the waist or armpits, tighten the drawstring, and change or shower as needed. There are compartments for soap and shampoo, as well as side access pockets for removing the shower head (with a Snap-On liner).
What are the features of Shower Toga?
The Shower Toga is constructed of water-wicking nylon fabric.
It wraps around the body and fastens with locking cords. It’s long enough to wrap around a woman’s or man’s body.
What is the price range?
It’s priced at $35 on Amazon.
How is business model?
The company operates on an e-commerce model with sales to all 50 states in the U.S.
How are they planning to grow?
The firm has grown by partnering with other races and events that hold to the same philosophies.
Is safe to buy online?
Yes, it’s safe to buy online.
How are they planning to scale?
The founders are looking to expand their operations through partnerships with other races and events. They are currently selling Shower Toga at Amazon, where they have sold over 10,000 items in the past year.
What is their MVP (Minimum Viable Product)?
The company released its first product in May of 2016, and they sell it through Amazon at $35.
What are the strengths?
The founders are credited with being the first to enhance public sanitation by offering the Shower Toga.
What are their weaknesses?
The lack of a physical retail location is their greatest weakness. The firm is looking to partner with festival organizers and outdoor athletes, who would not have access to brick-and-mortar locations.
What are their future plans?
The founders plan on working with other races and events to promote safety in bathing areas through Shower Toga.
Is it legit?
Yes, 100% legit.
Where can I find out more?
Shower Toga’s official website is http://www.showertoga.com/.One can also find them on Facebook, Twitter, and Instagram where one can also see pictures of the creator of Shower Toga.
How did she become so successful?
She created Shower Toga after battling cancer.
Where does she live now?
Kressa is currently living in Tucson, Arizona with her husband and son. They are enjoying their new home in the mountains of Tucson.
What is the net worth of Kressa Peterson?
Kressa Peterson’s net worth is estimated at $500,000.