Supply Razor Shark Tank Net Worth 2023
As of 2023, Supply Razor’s net worth is not explicitly stated in the search results. However, according to insidergrowth.com, Robert Herjavec invested $300,000 for a 15% equity stake in the company during their appearance on Shark Tank.
This would indicate that the company was valued at $2 million at the time of the investment.
However, according to biznewske.com, Supply Razor sold more razors in the two days following their Shark Tank appearance than they had in any previous month and had a million-dollar month in January 2020.
As of July 2021, they generate $12 million in annual revenue.
Supply Razor is a luxury single-blade razor that aims for a perfect shave every time. The razor is made of stainless steel and has three custom settings to meet men and women’s needs.
It was designed to reduce razor burn and allow for a cleaner cut. The injector-style blade cartridge ensures touchless blade replacement ensuring optimal safety and protection from the blade
Patrick Coddou and Jennifer Coddou are the founders of Supply Razor. They established their business in 2015 with the help of a $78,278 Kickstarter campaign.
What is Supply Razor? Who Founded Supply Razor?
The Supply Razor is a type of razor that uses larger injector-style blades, which result in longer blade life as compared to other razors that use multiple edges.
Despite this, the razor comes with a 20-pack of blades in case you run out, and it is much cheaper than brand-name razors.
Patrick and Jennifer Coddou founded the Supply Razor with the belief that everyone deserves a close and clean shave, without having to spend a lot of money.
Before starting their business, the Coddous were an average couple trying to climb the corporate ladder.
Patrick was an engineer working for Lockheed-Martin, where he worked on projects such as the Skunk Works division and the F-35 Lightning II program.
Jennifer was a math teacher at the Young Women’s Leadership Academy. Although they started their business from home, they had difficulty turning a profit.
Recognizing the potential of their product, Patrick and Jennifer left their jobs to focus on growing their business. Today, their business continues to thrive due to their exceptional leadership and vision.
Patrick’s engineering and design skills, combined with Jennifer’s entrepreneurial acumen, have formed a solid foundation for their business.
The Coddous put in a lot of effort to establish their business, teaching themselves everything from website design to product sales.
After months of dedication, they applied to Shark Tank, hoping to find an investor who could help them scale their business.
Through their business, the Coddous have shown that it takes passion, commitment, and perseverance to overcome difficult times and succeed.
Supply Razor Shark Tank Pitch
In 2015, the pair kickstarted their business with $78,278, and in 2017, during a road trip out west, they decided to fully commit to Supply.
After returning, Patrick resigned from his job and launched Supply 2.0 in the same year, using a second Kickstarter that collected $256,092.
The company’s flagship product is the Supply 2.0 single blade injection razor, which is packaged in sleek, contemporary stainless steel and is similar to traditional single-edge razors.
Replacement blades are available for around 50 cents per blade, and changing the blades is as easy as sliding the lever after putting the pre-loaded blade magazine into the Single Edge.
Supply also offers other grooming products, including an ultra-lather shave cream, a silvertip synthetic shave brush, an aloe-based post-shave, a daily wash, and a body lotion.
Their third Kickstarter campaign raised $32,223 for the “everyday Dopp Kit” to help launch their leather goods range.
In their Shark Tank pitch, Patrick and Jennifer asked for $300,000 in exchange for 10% of their business, valuing it at $3 million.
Despite wearing fake mustaches, and Patrick’s flubbing his lines, Robert offered $300,000 for 15%, bringing the valuation down to $2 million.
Although the transaction with Robert was never completed, the episode generated a spike in sales that surpassed all previous monthly records.
As of July 2021, Supply generates $12 million in annual revenue, with each kit costing $28 to produce and retailing for $125.
The company has been successful in the market, with Lori referring to their razor as the “Cadillac of razors.”
Although Daniel and Mark abstained, Kevin offered $300,000 for 5% plus $1.50 per unit in perpetuity, and Robert offered $300,000 for 15%.
The success of Supply’s business shows that a great product, persistence, and hard work can lead to significant success.
Supply Razor Net Worth
Patrick and Jennifer pitch the Shark Tank for $300,000 in exchange for 10% of their business. This indicates a $3 million value.
They accepted an offer from Robert of $300,000 for 15%, thus equating it at $20 million.
Supply Razor Competitors
Bevel, One Blade, and Merkur are some competitors of Supply Razor.
Supply Razor FAQS
Is it true that Supply landed a deal on Shark Tank?
Supply has reached an agreement with Robert Herjavec! $300,000 in return for a 15% stock stake.
Which razor was featured on Shark Tank?
They made it out alive after pitching premium single-blade razor on ABC’s Shark Tank.
They’re a tiny team based in Texas that specializes on creating high-quality grooming products for customers that deserve the finest.
The Single Edge Razor is their flagship product.
It is a solid metal razor with a single readily changeable (and reasonably priced) blade.
Which episode of Shark Tank was supplied?
In Shark Tank episode 6 of season 11, Patrick and Jennifer Coddou seek assistance from a Shark to help them expand Supply, their contemporary, single blade razors.
The pair began the firm in 2015 as a “side hustle.”
Are supply blades good?
Supply Co is a Texan shaving firm that specializes in high-end men’s razors, shaving equipment, and skincare.
They have a slew of fans, including the Shark Tank investors and GQ, who awarded their razor the Best Single Blade razor in 2020.
How long do supply razors last?
If they shave 5-6 times a week, a single box of eight blades can last up to three months.
Is supply razor a safety razor?
There are several significant distinctions between a single edge and a double edge razor:
Weight, customization, mechanics, and blades.
Some are more evident, while others contribute to the pleasant, close shave that they all desire.
To begin, the Single Edge has only one cutting edge, as opposed to the DE’s two.
Is a single blade razor better?
Single blade razors are more effective because they cut facial hair precisely without generating excessive blade friction, which reduces the likelihood of developing a skin rash following a shave.
By design, single blade razors are also more environmentally friendly.
Does shaving with a single blade razor result in a closer shave?
On the other hand, a single blade razor shaves close to the skin’s surface, providing an incredibly close shave without the possibility of ingrown hairs or discomfort.
With only one blade, friction is reduced, resulting in less discomfort and razor burn.
How do they make money?
Supply is a “pre-order” shaving product. Owners pick the products they want and pay for them upfront, before delivery. Processing charges are minimal due to the large volume of orders.
Why do people buy Supply razors?
The best part about their razor is how it improves their shaving experience and makes it enjoyable, rather than an irritating grooming task that they endure every day out of necessity.
The most compelling reasons to buy a Supply razor are because they provide quality shaves at an affordable price point.
What’s included with the Single Edge?
When they purchase a Single Edge 2.0 in Alloy or Steel, they’ll receive the Razor handle, all three Shave Settings, and one Injector Pack loaded with eight blades – about a three-month supply.
Can women use the Single Edge?
Absolutely. They have a large number of female consumers that adore shaving with the Single Edge.
How is the Single Edge made?
The Single Edge Steel is manufactured utilizing a state-of-the-art manufacturing process called Metal Injection Moulding.
Typically, this approach is employed in aeronautical and medical applications.
What is the net worth of Patrick Coddou?
Unknown.
What is the net worth of Jennifer Coddou?
Unknown.
