StepNpull Shark Tank Net Worth 2023
Mike was a participant in the television show Shark Tank during the twelfth season, on the nineteenth episode. He was seeking a total of $300,000 in exchange for a 3% ownership stake in his company, which was valued at $10 million at the time.
During the show, one of the investors, Kevin, made Mike an offer of $300,000 in exchange for a 6% ownership stake in the company.
After some negotiation, Mike decided to accept the offer from Kevin, which meant that the company was valued at $5 million after the investment.
What is StepNpull? Who is the Step N Pull founder?
The StepNpull is a hands-free door opener that can be operated using the foot. It allows individuals to enter places like homes, stores, companies, bathrooms, and schools without the need to physically touch the door handle with their hands or any other part of their exposed body.
By using their foot to open the door, they can reduce the risk of transferring germs from one person to another in crowded areas, which is particularly significant in today’s world.
Moreover, the StepNpull is a convenient solution for people who need to use both hands, like those carrying shopping bags.
The product comes in different colors that can match any decor and are widely available to large institutions, airports, enterprises, and other places with toilet doors. Customers can buy it from popular retailers such as Home Depot, Lowe’s, and Amazon.
Step N Pull was established in 2007, and the company has been in business for nearly 14 years. Its co-founders, Mike Sewell, Ron Ely, and Kelly Coddington, all come from the telecoms industry and met while working for the same company.
They are still part of the board of directors, and the business is thriving amid the pandemic as more customers worldwide are using the product.
Mike conceived the idea for the company after observing that many of his co-workers used a paper towel to unlock a lavatory door to avoid touching it.
He disliked the paper waste it generated, but the situation also presented an opportunity to create a business, something that he and his colleagues had discussed before. Kelly created a prototype, while Ron, who had expertise in building, designed the product.
The company started selling the StepNpull from their garage, but they quickly gained traction when large corporate brands started placing bulk orders. Within a few years, they expanded their distribution globally, with suppliers and partners in major countries.
While the company has been successful for over a decade, generating sales of over $1 million in some months, the co-founders felt the need to find an investor who could provide more expertise, connections, and resources to take the product to the next level.
StepNpull Shark Tank Pitch
In season 12 episode 19 of Shark Tank, Mike seeks $300,000 for a 3% stake in his company, which has a $10 million valuation.
During his pitch, he uses an actor to demonstrate his invention, which has been patented and distributes samples.
The Covid-19 pandemic significantly boosted sales of the device, with March 2020 sales reaching $1.7 million and year-to-date sales hitting $7 million as of mid-2020. Each unit costs between $8 and $9 to produce and sells for $29.95.
The Sharks are impressed with the product’s margins and stats, and Kevin offers $300,000 for a 10% stake, while Daymond offers $300,000 for a 12% interest rate.
Daymond believes he can reduce production costs and plans to work with the International Door Association to make the StepNpull standard on all commercial doors.
Lori Greiner offers $300,000 for a 5% stake plus a 50% royalty until she recoups $500,000, after which she demands 20 cents a unit in perpetuity.
After some negotiation, Kevin agrees to a 6% stake in the company, and Mike strikes a deal with him. Following the episode’s first airing in April 2021, the company secures additional corporate clients, including NASA, Nike, Pizza Hut, Whole Foods, and the University of Houston.
However, as of July 2021, Kevin’s agreement has not been finalized, and negotiations are still ongoing. The company earns $1 million in revenue each year.
Stepnpull Shark Tank Updates
StepNpull is a hands-free door opener that allows users to open swinging doors with their feet, preventing the spread of germs and helping those with their hands full easily open doors. The company was launched in 2007 by three friends, Mike Sewell, Ron Ely, and Kelly Coddington.
In 2021, StepNpull appeared on Shark Tank Season 12 Episode 19, seeking a $300,000 investment for 3% equity. Kevin O’Leary agreed to invest $300,000 for 6% equity in the company.
As of August 2022, StepNpull is still in business and has an annual revenue of $1 million. The company has expanded its product line and clients, including big companies like Coca-Cola, Facebook, Google, and Walmart.
In March 2020, StepNpull generated over $1.7 million in sales, thanks to the COVID-19 pandemic. However, the deal with Kevin O’Leary has not closed as of July 2021. Despite this, StepNpull has managed to go far and wide as a company, expanding its product line, clients, and revenue.
StepNpull Shark Tank Table Summary:
|Founders||Mike Sewell, Ron Ely, Kelly Coddington|
|Product||Hands-free door opener|
|Sales Channels||Home Depot, Lowe’s, Amazon, large institutions, airports|
|Valuation on Shark Tank||$10 million|
|Investment Offer on Shark Tank||$300,000 for 6% equity stake|
|Valuation After Shark Tank||$5 million|
|Investors on Shark Tank||Kevin O’Leary|
|Revenue (As of August 2022)||$1 million per year|
|Notable Clients||NASA, Nike, Pizza Hut, Whole Foods, University of Houston, Coca-Cola, Facebook, Google, Walmart|
|Status||Still in business, expanding product line and clients|
StepNpull Net Worth
Mike appears on Shark Tank season 12 episode 19 in search of $300,000 for a 3% stake in his company. This represents a $10 valuation.
He accepted an offer from Kevin of $300,000 for a 6% stake thus bringing the valuation to $ 5 million.
Kleantoolz Grabfoot Touchless Door Foot Pull is a competitor of StepNpull.
What is StepNpull Shark Tank?
StepNpull is a foot-operated door handle that attaches to the bottom of doors, allowing for a sanitary way for users to open doors. The product was introduced to the Sharks in episode 1220 of Shark Tank by Mike Sewell, along with his partners Ron Ely and Kelly Coddington.
In the episode, Mike sought $300,000 for 3% of his business and ended up making a deal with Kevin O’Leary for $300,000 for 6% equity.
StepNpull has been successful since appearing on Shark Tank. The company has expanded its product line, clients, and international partners, with average yearly earnings of $1 million and an impressive net worth of $15-$20 million.
The COVID-19 pandemic has also boosted sales for the company, with some of the companies they serve including Snapchat, Walmart, and Whole Foods.
In March 2020, during the height of the pandemic, StepNpull did $1.7 million in sales, and their year-to-date in sales at the time of the pitch were nearly $7 million.
How Does StepNpull Shark Tank Work?
StepNpull is a foot-operated door handle that attaches to the bottom of commercial, swinging bathroom doors. The product is an L-shaped, extruded aluminum item that screws to any commercial, swinging bathroom door.
It allows people to pull the door open with their foot instead of the handle, reducing the chance of spreading germs through contact. The product is ADA-compliant, UL certified, and available in various stylish finishes.
Mike Sewell, along with friends and partners Ron Ely and Kelly Coddington, created StepNpull in 2007. In 2021, Mike appeared on Shark Tank seeking a $300,000 investment for 3% of his business.
He demonstrated the product by having an actor pretend to pee onstage, then the actor left the “restroom” and used the handle to open the door. Mike then showed how his product works and handed out samples.
Kevin O’Leary made an offer of $300,000 for 6% of the company, which Mike accepted.
Although the deal with Kevin never closed, StepNpull has managed to expand its product line, clients, and sales. The Covid-19 pandemic was a big sales booster for the company. StepNpull is available at Home Depot, Lowe’s, and Amazon.
What happened to StepNpull after Shark Tank?
StepNpull is a product that allows people to open swinging doors with their feet, preventing the spread of germs. The company was founded in 2007 by Mike Sewell, Ron Ely, and Kelly Coddington.
In 2021, the three founders appeared on Shark Tank seeking $300,000 for 3% equity in their company. Kevin O’Leary agreed to invest $300,000 for 6% equity in StepNpull.
After the Shark Tank episode, the deal with Kevin never closed. However, StepNpull has continued to sell its foot door handles on its website and has expanded its product line, clients, and international partners.
The company has average yearly earnings of $1 million and an impressive net worth of $15-$20 million.
StepNpull’s sales did not begin to increase significantly until after the COVID-19 pandemic reached full force. In 2019, the company sold 13,000 units, earning an annual revenue of $336,000.
During the pandemic, the company sold 4,000 units. Today, StepNpull continues to sell their various foot door handles on their website alongside various accessories including door decals.
Is StepNpull Shark Tank still in business?
Yes, StepNpull is still in business as of April 2023. The company appeared on Shark Tank Season 12 Episode 19 on April 2, 2021, and asked the Sharks for $300,000 for 3% equity. Kevin O’Leary agreed to invest $300,000 for 6% equity in StepNpull.
However, the deal with Kevin never closed with the company. Despite this, StepNpull has managed to expand its product line, clients, and sales. The company’s annual revenue is $1 million.
StepNpull is a door opener that is opened through the foot without touching the door in hand. The product prevents the spread of germs outdoors. The company was officially launched in 2007 by three friends Mike Sewell, Ron Ely, and Kelly Coddington.
Before starting this company, in the 1990s, these three friends used to work as co-workers in a telecommunications company. The company initially made and distributed its components in a garage.
StepNpull has continued to sell its various foot door handles on its website alongside various accessories including door decals, plaques, keys, sanitizing wipes, and more. Additionally, they also sell at Lowes, Home Depot, and Amazon.
What is the current valuation of StepNpull after Shark Tank?
StepNpull is a foot-operated door opener that helps prevent the spread of germs by allowing people to open doors without using their hands. The company appeared on Shark Tank in season 12, episode 19, in March 2021.
During the pitch, the founder, Mike Sewell, was seeking $300,000 for a 3% stake in the company, which was valued at $10 million at the time. Kevin O’Leary made a deal with Sewell, offering $300,000 for 6% equity in StepNpull. However, the deal with O’Leary never closed.
As of 2023, StepNpull is worth $8 million. The company’s sales were flat until the COVID-19 pandemic hit, and all of a sudden, the company was booming. At the time of the pitch, they were approaching $7 million in sales.
However, StepNpull’s sales have slowed down dramatically, and they are making around $1 million in annual revenue. More than likely, revenue will drop below the million-dollar mark in 2023.
Despite this, the company has managed to expand its product line, clients, and net worth, which is estimated to be between $15 million and $20 million.
How much was he asking in the Shark Tank?
Mike appears on Shark Tank season 12 episode 19 in search of $300,000 for a 3% stake in his company. This represents a $10 valuation.
Did he get the deal from the Sharks?
Mike strikes a deal with Kevin.
How much was the deal?
Mike secure an investment from Kevin of $300,000 for a 6% stake in StepNpull.
Is StepNpull still in business?
Yes, StepNpull is still in business and the business earns $1 million in revenue each year.
What episode was StepNpull featured in?
StepNpull was featured in season 12 episode 19 of Shark Tank.
When was StepNpull aired on Shark Tank?
StepNpull was featured on Shark Tank on April 2, 2021.
Where is StepNpull located?
How much do StepNpull costs?
StepNpull costs $29.95 to purchase.
Does StepNpull prevent the spread of germs?
Yes, StepNpull prevents the spread of germs by preventing their hand from coming into contact with the door handle.
Is StepNpull accessible for children and the elderly?
Absolutely. This, however, is largely dependent on the individual’s physical capabilities while using the StepNpull.
Their CEO, who is 92 years old, paid a visit the other day. He used it carelessly.
What tools/equipment do they use to fit the StepNpull?
Needless to say, their fitters have worked with every type of door and flooring and carry a truck stocked with gear, including specialized tools, to guarantee that each StepNpull is installed precisely and consistently on all of their doors.
How securely fitted is the StepNpull?
The StepNpull is really powerful. It is constructed of durable T6 aluminum. Each bracket includes three number 12 mounting screws as standard.
Simply said, it’s elegant, seductive, and will last a lifetime.
Do they offer a money-back guarantee?
Yes, if customers are dissatisfied with their purchase, they will receive a full refund.
Does StepNpull have a warranty?
Yes. StepNpull is delivered to them and installed by them. Once satisfied, they provide them with an Installation and Compliance Certificate that includes a lifetime warranty against manufactured defects.
Is StepNpull ADA-compliant?
Indeed, it is. For those who are unfamiliar with this term, it refers to a product that complies with the Americans with Disabilities Act.
This means that even impaired individuals may utilize this device.
Where is StepNpull manufactured?
StepNpull is designed and produced in the United Kingdom. They are happy to help the UK’s employment sector.
What is the net worth of Mike Sewell?
Mike Sewell’s net worth is unavailable.