SneakERASERS Shark Tank Update | SneakERASERS after Shark Tank
What is SneakERASERS?
SneakERASERS are unique shoe cleaners that use proprietary technology to help restore the appearance of filthy sneaker soles.
SneakERASERS are simple, reusable sponges that come pre-moistened with a cleaning solution to swiftly and easily clean your shoes without the need of bulky equipment.
Chris Pavlica and Kevin Consolo, co-founders of SneakERASERS, both attended Ohio University and majored in separate subjects.
Pavlica was pursuing a profession in cinema, while Consolo was getting a degree in business. Pavlica has directed and produced films, while Consolo has worked in communications and business roles prior to co-founding FTI Brands.
Who is the founder of SneakERASERS?
While roommates at Ohio University, Sneaker Erasers inventors Chris Pavlica and Kevin Consolo used to discuss about million-dollar ideas.
That concept came to fruition over ten years later. Pavlica was a Los Angeles-based filmmaker, while Consolo worked in sales for a brewery in North Carolina.
Pavlica was scheduled to propose a film concept to Coca Cola one fateful day, and his footwear was all scuffed.
He barely managed to keep them clean enough to avoid embarrassment. That night, he contacted an old friend and announced, “I have an idea!”
The gentlemen decided on a pre-moistened sponge as the delivery vehicle. They immediately set to work in Chris’ garage and produced a product in record time. Once everything was in order, the gentlemen began selling.
That occurred in 2016. In 2020, they were forced to transition to primarily digital sales because to the Covid-19 epidemic.
They already operate two warehouses in Los Angeles and Buffalo, with a third planned for Columbus, Ohio. They’re also available at Costco, Walmart, CVS, and a variety of other large retail chains. Indeed, they are present in more than 30,000 retail locations.
What Happened to SneakERASERS at Shark Tank pitch?
Chris Pavlica and Kevin Consolo came up with the approach, which is now awaiting patent. The dual-sided sponge’s innovative shape makes it a simple and portable solution to keep shoes clean and elegant.
Chris and Kevin make an offer of $200,000 for 8% equity shares at valuation of $2.5 million. With such a beneficial product, the two were overjoyed to report that they had sold $1.1 million worth of items in the year preceding the episode.
Even better, they expected to conclude the year with $1.8 million in revenue, which was likely a result of their agreements with big-box stores to distribute their items statewide.
Nonetheless, the two thought that a shark was essential to assist them with margins, as well as marketing and promotional ideas.
Lori Greiner and Alex Rodriguez teamed up immediately to offer $200,000 for a 20% stake in SneakERASERS. Both thought their backgrounds qualified them as ideal sharks for the product.
Mark Cuban, on the other hand, tossed his hat into the ring, claiming to have a whole new notion for how SneakERASERS may blow up.
Mark believes SneakERASERS might benefit from working with shoe brands. Mark offered to spend $200,000 for a 12.5% in order to make this happen.
While this was a greater offer than Lori and Alex’s, Chris and Kevin felt compelled to reply. This threw Mark off, and the Dallas Mavericks owner withdrew his offer.
The two would eventually strike a deal with two Sharks, Alex Rodriguez and Lori Greiner, for $200,000 in exchange for 20% equity shares at valuation of $1 million. Kevin, Chris, and the two Sharks eventually make a deal.
What Happened to SneakERASERS after Shark Tank?
The firm has flourished in the months after appearing on Shark Tank and signing a contract! At the time of publication, the Instant Sole and Sneaker Cleaner have a rating of 1,087 on Amazon.
Meanwhile, their goods were recently selected as one of 28 products to be featured on ABC’s Good Morning America as part of Tory Johnson’s GMA agreements.
It’s incredible to watch how much SneakERASERS has developed in the months after appearing on Shark Tank, particularly on the e-commerce side as business continues to grow.
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.
SneakERASERS FAQs
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.
