SneakERASERS Shark Tank Net Worth 2023
SneakERASERS appeared on Shark Tank in 2021 and was valued at $2.5 million during the pitch. Lori Greiner and Alex Rodriguez offered $200,000 for a 20% stake in SneakERASERS, while Mark Cuban offered $200,000 for a 12.5% stake.
The company’s net worth after the two Shark investments was $1 million in 2021. As of 2022, Sneakerasers’ founder has a net worth of $1.2 million USD.
SneakERASERS has flourished since appearing on Shark Tank and signing a contract with FITbrands. At the time of publication, the Instant Sole and Sneaker Cleaner have a rating of 1,087 on Amazon.
The company introduced two more lines of products called golf erasers and auto erasers and wants to expand the retail outlet part of the business far and wide. The annual revenue of this company is estimated at $5 million in 2022.
What is SneakERASERS? Who is the founder of SneakERASERS?
SneakERASERS utilize exclusive technology to restore the appearance of grimy sneaker soles, setting them apart as a distinctive shoe cleaner.
These straightforward, reusable sponges are already pre-moistened with a cleaning solution, making it convenient to clean your shoes without requiring bulky equipment.
The co-founders of SneakERASERS, Chris Pavlica and Kevin Consolo, both studied different subjects while attending Ohio University.
Pavlica pursued a career in cinema, while Consolo earned a degree in business. Prior to co-founding FTI Brands, Pavlica directed and produced films, while Consolo worked in communications and business positions.
As roommates at Ohio University, Chris Pavlica and Kevin Consolo, the creators of Sneaker Erasers, used to brainstorm million-dollar ideas.
More than ten years later, their idea came to life. Pavlica was a filmmaker in Los Angeles, while Consolo worked in sales for a brewery in North Carolina. One fateful day, Pavlica had to pitch a film concept to Coca Cola but had scuffed shoes.
He barely managed to clean them up enough to avoid embarrassment. That night, he called an old friend and declared, “I have an idea!”
The two men agreed on a pre-moistened sponge as the ideal delivery method. They quickly got to work in Pavlica’s garage and developed a product in record time. After finalizing everything, they began selling the product.
This occurred in 2016. Due to the Covid-19 pandemic, they were compelled to switch primarily to digital sales in 2020.
SneakERASERS now operates two warehouses in Los Angeles and Buffalo, with a third planned for Columbus, Ohio. They are also accessible at Costco, Walmart, CVS, and many other major retail chains. They are now present in over 30,000 retail locations.
SneakERASERS Shark Tank Pitch
Chris Pavlica and Kevin Consolo developed an innovative approach for cleaning shoes using a dual-sided sponge with a unique shape.
They have applied for a patent and are seeking the assistance of a Shark to help with margins, marketing, and promotion.
Chris and Kevin offered $200,000 for 8% equity at a $2.5 million valuation. They reported sales of $1.1 million in the year before the show and expected to end the year with $1.8 million in revenue due to distribution agreements with big-box stores.
Lori Greiner and Alex Rodriguez teamed up to offer $200,000 for a 20% stake in SneakERASERS, but Mark Cuban had a different idea.
Mark offered $200,000 for a 12.5% stake and suggested that the company work with shoe brands. Chris and Kevin responded to Mark’s offer, causing him to withdraw.
Eventually, Chris and Kevin struck a deal with Lori Greiner and Alex Rodriguez for $200,000 in exchange for 20% equity at a $1 million valuation.
The company has flourished since appearing on Shark Tank and has received a rating of 1,087 on Amazon. They were also selected to be featured on ABC’s Good Morning America.
It’s impressive to see how much SneakERASERS has grown in the months after appearing on Shark Tank, particularly in the e-commerce side of the business.
Net Worth of SneakERASERS
During the pitch the company was valued at $2.5 million, after the two Shark investments the company has a net worth of $1 million in 2021.
What is SneakERASERS?
SneakERASERS are unique shoe cleaners that use proprietary technology to help restore the appearance of filthy sneaker soles.
Who is the founder?
Chris Pavlica and Kevin Consolo, co-founders of SneakERASERS, both attended Ohio University and majored in separate subjects.
What is their offer on Shark Tank?
They were asking for $200,000 for 8% equity shares in their business at a valuation of $2.5 million.
Did they get the deal?
Yes, Lorie Greiner and Alex Rodriguez gave them a deal of $200,000 for 20% equity shares in their business at a valuation of $1 million.
How much is the company worth after the Show?
The company is valued at $1 million in 2021.
Is still in business?
Yes, the company is still in business.
Can I see SneakERASERS at Walmart?
Yes, SneakERASERS can be purchased at any number of Walmart stores across the country. This includes Walmart stores located in Los Angeles, California; Brooklyn, New York; and the greater Columbus, Ohio area.
How did they come up with the idea?
That concept came to fruition over ten years later.
What is the company’s background?
Founded in 2016, SneakERASERS is based out of Los Angeles, California. The company’s co-founders have backgrounds in business and film and television production, respectively.
How can I buy SneakERASERS?
SneakERASERS are sold online exclusively at Amazon.com and other authorized retailers.
Is it safe to buy online?
Yes, it’s safe to buy online.
How do I pay?
All customers are required to pay using PayPal.
What sizes does it come in?
SneakERASERS come in one size, as well as two different colors.
Is SneakERASERS profitable?
Working with shoe brands is a great way to grow revenue and profitability.
What is their return on investment?
The company’s ROI has been improving since appearing on Shark Tank.
So how did these guys get on Shark Tank?
They came up with this incredible idea as a way to restore the look of dirty sneakers. They then decided to go big by approaching Shark Tank, which paid off in spades!
Is it legit?
Yes, the product is completely legit.
What are the benefits?
SneakERASERS is a unique shoe cleaner that restores the look of dirty sneaker soles. The Instant Sole and Sneaker Cleaner come with a dual-sided applicator and can be used on any footwear with a removable insole.
How is the business model?
SneakERASERS runs entirely on the premise that the average person has about 20 pairs of sneakers, which is more than a good number of Americans.
How can I contact them?
SneakERASERS can be reached via e-mail at [email protected]
How long will it take to deliver their product?
They offer FREE SHIPPING and generally ship all orders within 24 hours of purchase.
Is any opportunity for SneakERASERS?
Its possible SneakERASERS could work with shoe brands. This is a great way to diversify their product lines and potentially generate millions in revenue.
What are the strengths?
SneakERASERS is a one-of-a-kind product that combats a common everyday sneaker problem. The company also operates in a niche industry that is likely to stay relevant for years to come.
How can I contact the founder?
Chris Pavlica can be contacted by e-mailing him at [email protected] or by calling 844-567-7273.
How much does it cost?
The Sneaker Cleaner costs $9.99 through Amazon.
What is the net worth of Chris Pavlica?
The net worth of Chris is $300,000.
What is the net worth of Kevin Consolo?
The net worth of Kevin Consolo is unknown.