Switch Witch Shark Tank Net Worth 2023
Switch Witch Shark Tank Net Worth
Switch Witch is a product created by Rob Bouley and Lara Spear Rily that trades candy for presents at Halloween.
The founders appeared on Shark Tank Season 7 in October 2015, but did not make a deal with any of the Sharks. As of 2022, Rob Bouley and Lara Spear Rily have a combined net worth of 5 million USD.
Switch Witch was featured on Shark Tank where they asked for $55,000 for 25% equity. However, none of the Sharks were interested in investing in the product.
Despite this, Rob Bouley expressed confidence in their product and believed it would become the next big holiday thing like Elf on the Shelf.
Since appearing on Shark Tank, Switch Witch has been sold online, door-to-door sales and craft shows for $29.99.
The product is now widely available with “As Seen on Shark Tank” printed on all packaging and marketing materials.
What is Switch Witch? Who are the Founders of Switch Witch?
Switch Witch is a company founded by Rob Bouley and Lara Spear Riley, based in Salem, Massachusetts, that centers around Halloween.
The main idea behind the company is to decrease the amount of candy that children consume during Halloween by encouraging them to trade in their candy for a non-edible toy or gift.
This is done through the character of the Switch Witch, who is similar to the tooth fairy. To make the concept more engaging for children, the company also includes a storybook.
Although their initial Kickstarter campaign in 2014 was unsuccessful, the company was able to secure funding and is now available for purchase in select toy stores and on Amazon. The cost for the doll and book combination is $22.
Switch Witch Shark Tank Pitch
In an episode of Shark Tank Season 7, Rob and Lara presented their company, Switch Witch, which created a set of dolls and books to assist children in managing their Halloween candy.
Their proposal was to secure $55,000 for a 25% stake in the business, which would value it at $220,000.
The Sharks were hesitant to invest due to concerns over the legal implications of the candy exchange and the product’s seasonality, as well as doubts regarding the sales and pricing of the product.
As a result, none of the Sharks chose to invest, and some suggested that the business should remain a hobby.
Following their appearance on the show, Switch Witch encountered competitors and encountered challenges in establishing a unique trademark.
Despite these challenges, the product remains available for purchase on Amazon and in certain stores in specific states.
Additionally, the company has expanded its offerings by creating educational worksheets and collaborating with a charity that sends Halloween candy to soldiers.
They have also altered their marketing and sales approach to focus on the Halloween season. As of May 2021, Switch Witch is still operating.
What is the Net Worth of Switch Witch?
The current net worth of Switch Witch is not publicly available. However, it can be noted that on Shark Tank Season 7 Episode 5, the company was valued at $220,000, and the owners were seeking $55,000 for a 25% stake in the company.
Who are the Competitors of Switch Witch?
There are no competitors identified for Switch Witch.
Switch Witch FAQS
What is Switch Witch?
Switch Witch is a Halloween-themed company for parents who don’t want their children to consume all of the sweets they get during trick-or-treating.
Who founded Switch Witch?
Lara Spear Riley and Rob Bouley of Salem, Massachusetts.
How much were they seeking in the Shark Tank?
They were asking for $55,000 for 25% of the equity.
Did they get the deal from the Sharks?
No. Sharks declined to offer them an investment in their Company.
How much does it cost?
The Switch Witch and accompanying book will set them back $22.
Where is Switch Witch located?
Switch Witch is located in Salem, Massachusetts.
How long has it been in operation?
The company was founded in 2013.
What is the website address of Switch Witch?
Switch Witch’s website address is www.switch-witch.com
Is Switch Witch still in operation?
Despite the uncertainty, the product is still available on Amazon as well as in The Paper Store and Hallmark stores in Massachusetts, Maine, and New Hampshire.
Since its appearance on Shark Tank, the firm has adopted a seasonal marketing and sales strategy.
What is net worth of Lara Spear Rily?
Lara Spear Rily’s net worth is unavailable.
What is net worth of Rob Bouley?
Rob Bouley’s net worth is unavailable.
Can they touch their Switch Witch?
So, just as every individual is unique, each Switch Witch is as well! Some Switch Witches don’t mind being touched and played with, but others would rather be left alone.
Is their Switch Witch watching their behaviour?
When kids are courteous and nice, their Switch Witch will have a fantastic time and want to remain until Halloween – as well as return the following year.
When was Switch Witch aired on Shark Tank?
Switch Witch was aired on Shark Tank Season 7 Episode 5 on October 4, 2015.