Sweep Easy Net Worth
When Shane Panell first entered the Shark Tank, he was seeking an investment of $40,000 in exchange for a 25% share of his company, which valued the business at $160,000.
However, after negotiations with the sharks, he eventually accepted an offer from Daymond John and Kevin Harrington for $80,000 in exchange for a 25% stake in the company. This investment effectively doubled the valuation of Panell’s company to $320,000.
By accepting this deal, Panell gained not only the funding he needed to grow his business but also the expertise and connections of John and Harrington to help him succeed in the market.
What is Sweep Easy and Who Founded Sweep Easy?
Sweep Easy is a type of broom that comes with a built-in scraper, designed to tackle tough and stubborn messes without requiring the user to bend down and scrape or scrub the surface. With just a push of a button, the scraper extends from the middle of the broom, making it easy to use.
The creator of Sweep Easy is Shane Pannell, a stay-at-home father of three who came up with the idea while cleaning up spilled food on his hands and knees in his own kitchen.
Pannell spent about a month developing the broom in his workshop and then began pitching his invention to various businesses that he believed could benefit from it.
In 2010, Pannell attempted to trademark the Sweep Easy and began searching for funding to bring his idea to market. He ultimately appeared on the television show Shark Tank to pitch his invention to a panel of investors. Pannell is still the President of Sweep Easy LLC today.
Sweep Easy Shark Tank Pitch
During the pitch, Shane Pannell presented the Sweep Easy broom, which had an integrated scraper and was designed to clean up tough, stuck-on messes without requiring the user to stoop down and scrub or scrape. He pitched his idea to the Sharks, seeking $40,000 in exchange for a 25% equity share in his company.
Kevin Harrington estimated that the product could generate a $100 million revenue stream and suggested that Pannell sell his goods through retail establishments, while Robert Herjavec and Kevin O’Leary were interested in discussing licensing the invention to existing broom manufacturers.
Daymond John offered $75,000 in exchange for 33% equity and the opportunity to join forces with Harrington to make a joint offer of $80,000 for 25% equity.
Barbara Corcoran did not believe Pannell could bring his idea to market, and Kevin O’Leary preferred to license the Sweep Easy rather than produce brooms. Ultimately, Pannell accepted John and Harrington’s offer of $80,000 for a 25% stake in the company.
However, Pannell’s contract with John and Harrington fell through, and the Sweep Easy social media pages have been dormant since 2012.
Nonetheless, Pannell resurrected the Sweep Easy in the spring of 2017 with a revamped product, and the brooms are still available for purchase on his website as of November 2021, generating just over $1 million in annual income.
Sweep Easy Net Worth
Panell enters the Shark Tank looking for $40,000 in exchange for a 25% stock share. This equates to a $160,000 value.
He accepted an offer from Daymond and Harrington of $80,000 for 25% thus bringing the valuation to $320,000.
Sweep Easy Shark Tank Updates
Sweep Easy is a broom with a built-in scraper that helps to remove dirt, food, and stickers from the floor. Shane Panell, a stay-at-home dad from Arizona, invented Sweep Easy to alleviate the need to bend down to scrub and scrape messes before they can be swept up.
He appeared on Shark Tank in Season 2, Episode 6, asking for a $40,000 investment in exchange for a 25% stake in Sweep Easy. The valuation of Sweep Easy was $160,000 when it appeared on Shark Tank, and its net worth is $1 million as of 2023.
Sweep Easy’s social media sites have been abandoned since 2012, and the website is still active but not available to take any orders as all the items seem to be out of stock. Sweep Easy is still operating and continues to offer brooms via their internet shop.
As of 2023, the company is no longer in business, its website has been shut down, and its social media accounts have also been deleted.
In conclusion, there are conflicting reports about the current status of Sweep Easy. While some sources suggest that the company is still operating and offering brooms via its Internet shop, others indicate that the company is no longer in business.
However, it is clear that Sweep Easy was a product designed to solve a common problem and that it achieved a significant net worth after appearing on Shark Tank.
Table: Sweep Easy Shark Tank
| TOPIC | INFORMATION |
| Company Name | Sweep Easy |
| Founder | Shane Pannell |
| Product | Broom with a built-in scraper |
| Shark Tank Pitch | – Seeking $40,000 for a 25% equity share in the company |
| – Accepted an offer of $80,000 for a 25% stake from Daymond John and Kevin Harrington | |
| Valuation | – Pre-investment valuation: $160,000 |
| – Post-investment valuation: $320,000 | |
| Current Status | – Website still active but not taking orders |
| – Social media pages have been dormant since 2012 | |
| – Conflicting reports about whether the company is still operating, with some sources suggesting it is not | |
| Net Worth | $1 million as of 2023 |
Sweep Easy FAQS
What Is Sweep Easy, Founder, and How Does Sweep Easy Work?
Sweep Easy is a broom that contains an integrated scraper for cleaning up sticky, dried-up stains on the floor. The founder of Sweep Easy is Shane Pannell, a stay-at-home dad from Arizona.
He invented Sweep Easy to alleviate the need to bend down to scrub and scrape messes before they can be swept up.
The broom is used to swiftly and securely clear out the excess dried meals and other contaminants such as stickers and slime. It may also be used to clear up the mess, gum, and wax carefully.
Shane Pannell appeared on Shark Tank in Season 2 Episode 6 of the show, asking for a $40,000 investment in return for a 25% share in his business.
Despite generating no transactions prior to the demonstration, the company’s founder exited the exhibition with more revenues than expected thanks to a solution that would change cleaning procedures. However, it is unclear what happened to Sweep Easy after Shark Tank.
What Happened To Sweep Easy After Appearing On Shark Tank?
Sweep Easy is a broom with a built-in scraper that helps to scrape off any dirt, food, or stickers off the floor. Shane Panell, a stay-at-home dad from Arizona, invented the product to alleviate the need to bend down to scrub and scrape messes before they can be swept up.
In season 2 episode 6 of Shark Tank, Shane approached the sharks seeking an investment of $40,000 for 25% of the company. The sharks did not invest in Sweep Easy, but the product gained popularity after appearing on the show.
As of January 2023, Sweep Easy is still in business and selling brooms on its website. The company’s annual revenue is just north of $1 million.
The company’s social media networks were shut down in 2012, and the website was not available to take any orders as all the items seemed out of stock.
As of 2023, the company is no longer in business, and its website has been shut down, and its social media accounts have also been deleted. It is unclear when the company went out of business or why it shut down.
What Is The Current Valuation Of Sweep Easy?
Sweep Easy was valued at $320,000 at the time of its appearance on Shark Tank. However, after negotiations with the sharks, Daymond John and Kevin Harrington invested $80,000 in exchange for a 25% stake in the company, effectively doubling its valuation to $640,000.
As of 2022, Sweep Easy is estimated to be worth over $10 million. The company’s founders share a quarter of the company with Daymond John and Robert Herjavec.
How Much Did Sweep Easy’s Valuation Increase Since Appearing On Shark Tank?
Sweep Easy appeared on Shark Tank in Season 2 Episode 6, where Shane Pannell asked for a $40,000 investment in exchange for a 25% stake in the company, valuing it at $160,000. As of 2023, Sweep Easy’s net worth is $1 million.
After appearing on Shark Tank, the company raised over $600,000 in an investor round and is still in operation.
It is unclear from the search results how much Sweep Easy’s valuation increased after appearing on Shark Tank. However, the fact that the company’s net worth increased from $160,000 to $1 million suggests that its valuation likely increased as well.
The increase in net worth could be due to the investment from the Sharks, as well as the exposure and publicity that the company received from appearing on the show.
How Did The Appearance On Shark Tank effect The Company?
Appearing on Shark Tank can have a significant impact on a company’s success, even if they don’t get a deal with one of the Sharks. The show provides entrepreneurs with free national publicity, which can lead to boosts in traffic, revenue, and customers.
The “Shark Tank effect” is a term used to describe the phenomenon of viewers looking up a company after watching it on the show. Even those who didn’t get a deal on the show have seen significant growth in their sales, growth, and future prospects.
However, not all deals made on the show end up being successful. In fact, 90% of the deals made on the show fall through because the founders believed the conditions weren’t good for their business, even though they took the deal on TV.
Additionally, some entrepreneurs who do get a deal on the show may end up regretting it.
For example, Vladislav Smolyanskyy, who appeared on the show in 2016, agreed to a deal that would give away majority control of his company to celebrity investor Kevin O’Leary but later regretted the decision.
Overall, appearing on Shark Tank can have a significant impact on a company’s success, but it is important for entrepreneurs to carefully consider the terms of any deals made on the show and to be prepared for the potential consequences of accepting an offer.
What Are Sweep Easy Competitors?
Sweep Easy is a cleaning product that was featured on the TV show Shark Tank. There are no competitors for Sweep Easy.
However, other sources provide a list of alternatives and competitors to Sweep, including Ennect Sweep, Wishpond, ShortStack, G2 Deals, Second Street, Qualifio, Woorise, Woobox, and Gleam.
Another list of alternatives includes Happay, HRMantra, Swipez Billing, BB Soft, Tripeur, Rydoo, Egencia, CIRYS, Ahoy, and Via TRM.
It is important to note that these alternatives and competitors may not be direct competitors to Sweep Easy, but rather alternatives for different types of software or products.
Is Sweep Easy Still In Operation?
There are conflicting search results regarding whether Sweep Easy is still in operation. Sweep Easy is still in business as of 2023, with an annual revenue of $1 million.
However, other sources claim that Sweep Easy is no longer in business as of 2023, with its website shut down and social media accounts deleted.
It is unclear which information is accurate, as some of the sources are outdated and others do not provide any evidence to support their claims. It is possible that Sweep Easy was in business as of January 2023, but has since gone out of business.
Alternatively, it is possible that Sweep Easy is still in business, but has shut down its website and social media accounts for unknown reasons.
Without more recent and reliable information, it is difficult to determine whether Sweep Easy is still in operation. It is recommended to contact the company directly for the most up-to-date information.
Is it true that Sweep Easy made money?
Despite having made no sales before the presentation, the firm’s owner departed the exhibition with more sales than expected, thanks to the innovation that will improve people’s sweeping skills.
What happened to Sweep Easy after Shark Tank?
Shane began selling his items in several places and on his internet website after appearing on Shark Tank.
The brooms are available in three colours: green, orange, and blue, and they cost $28.97 on the website. The website has released an enclosed dustpan for $15.97.
What is sweep easy worth?
Sweep Easy was valued at $ 320,000 at the Tank after the owner accepted an offer.
What exactly is Sweep Easy?
Sweep Easy is a multi-purpose floor scraper that is effective in removing stickers and bandages from the floor.
A high-quality plastic crapper can remove any material that has been attached to the ground or solidified.
They won’t have any problem cleaning it because it’s unobtrusive.
Why Is Sweep Easy So Popular?
Sweep Easy’s key selling feature is its three-in-one retractable scraper.
All three attachments are constructed of high-quality plastic and are suitable for use on a variety of surfaces.
So, whether they have vinyl or hardwood floors, Sweep Easy can clear up any type of problem fast and effectively.
What is Sweep Easy’s revenue model?
Shane Panell presented his concept for marketing the product to restaurants, theaters, and larger institutions during his visit on the show.
Shane began selling his items in a variety of venues and online after appearing on Shark Tank.
What are weaknesses of Sweep Easy?
Shane’s only problem is that he hasn’t as yet increased the manufacturing capacity because his product is still new.
But with the support it has received, there’s no doubt that his idea will flourish and continue to be successful for years to come.
Who’s the owner of Sweep Easy?
Sweep Easy is owned by Shane Panell.
How much does Sweep Easy cost?
If customers opt to buy Sweep Easy, they will have to pay the RRP of $29.90. Please keep in mind that the original price is $19.95, whereas Amazon and other e-commerce sites charge $29.90.
Are Sweep Easy Patent?
Yes.
Does Sweep Easy have any movies?
Yes. Shane Panell was featured on the season 2 episode 6, which aired on October 4, 2014.
What the strengths of Sweep Easy?
Sweep Easy is a lightweight broom that utilizes 3 pieces to assemble. They can turn the broom into a dustpan, a brush, and a scraper.
The scraper makes it very easy to remove stickers from any surface without damaging the material.
