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.
Switch Witch Shark Tank Updates
Switch Witch is a Halloween storybook that aims to reduce sugar consumption during Halloween by trading candy for presents. The product was pitched on Shark Tank Season 7, where entrepreneurs Rob Bouley and Lara Riley asked for $55,000 for 25% equity.
However, none of the sharks made a deal with them. Despite this setback, the company is still in business and has seasonal marketing that starts mid-August.
Switch Witch is similar to other successful holiday products such as Elf on the Shelf and Mench on a Bench. The Switch Witch Halloween Tradition comes complete for $21.95, which includes shipping. The entrepreneurs representing Switch Witch on Shark Tank were Rob Bouley and Lara Riley from Salem, MA.
Although the product did not receive a deal on Shark Tank, Rob expressed confidence in a post-interview, stating that the sharks missed out on a great opportunity and that Switch Witch would be the next big holiday thing.
The Switch Witch crafted by Rob and Lara has “As Seen on Shark Tank” on all of their packaging and marketing. Since the Switch Witch is a public domain entity, the brother-sister team does not have exclusive rights to it.
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.
Summary Table for the Switch Witch Shark Tank Net Worth 2023:
| TOPIC | INFORMATION |
| Product | Switch Witch – a Halloween tradition promoting healthy eating habits by trading candy for toys or healthier treats |
| Founders | Rob Bouley and Lara Spear Riley |
| Shark Tank | Season 7, Episode 5, pitched for $55,000 for 25% equity |
| Sharks | No Sharks invested in the product |
| Net Worth | $5 million USD (combined net worth of the founders) |
| Availability | Online, door-to-door sales and craft shows for $29.99 |
| Marketing | “As Seen on Shark Tank” printed on all packaging and marketing materials |
| Competitors | None Identified |
| Updates | Still in business, with seasonal marketing starting mid-August |
Switch Witch FAQS
What Is Switch Witch And How Does It Work?
Switch Witch is a Halloween tradition that involves a friendly witch who visits children’s homes after they go trick-or-treating. The witch takes the children’s leftover candy and replaces it with a fun toy or a healthier treat.
The idea behind Switch Witch is to promote healthier eating habits and reduce the amount of candy children consume during Halloween.
The tradition was created by a Colorado mom and business executive, Audrey Kinsman, in 2012, after her son couldn’t eat most of his Halloween candy due to a severe milk protein allergy.
To introduce the Switch Witch to children, parents can tape a Switch Witch Letter on her door about a week before Halloween. The letter explains why the witch needs the candy and that she wants to trade it for a toy with a cute poem.
Children can leave their candy bags out on the kitchen table, and the witch visits their house while they are sleeping and switches their candy for a small gift, such as a book, toy, or healthier treat.
The Switch Witch is a fun Halloween tradition that children can enjoy, and it can help parents promote healthier eating habits and reduce the amount of candy their children consume during Halloween.
Who founded Switch Witch?
Lara Spear Riley and Rob Bouley of Salem, Massachusetts.
What Was The Outcome Of Switch Witch Shark Tank Pitch?
Switch Witch is a Halloween-themed business created for parents who don’t want their children to consume all of the candy they receive during trick-or-treating.
The Switch Witch is a small plush toy that “switches” Halloween candy for a gift or something else. Rob Bouley and his sister-in-law, Lara Spear Riley, pitched Switch Witch, their Halloween themed plush toy and accompanying storybook, in Shark Tank episode 705. They asked for $55,000 for 25% equity in their business, which was valued at $220,000.
During the pitch, the Sharks were joined by three kids in Halloween costumes, one of which was dressed as a shark. The Switch Witch team demonstrated how the tradition worked.
Three children in Halloween costumes dumped all of their candy into a bowl. When they went to sleep, the ‘Switch Witch’ exchanged their bowl of candy for special gifts.
The Sharks declined to offer them an investment, and the result was no deal. Despite not getting a deal from the Sharks, Switch Witch continues to sell online. They had $15,000 in sales during the first season, which is one month.
What Happened To Switch Witch After Appearance At Shark Tank?
Switch Witch is a Halloween-themed business created for parents who don’t want their children to consume all of the candy they receive during trick-or-treating.
The Switch Witch works like the tooth fairy. Instead of leaving your tooth under your pillow, a child leaves candy out for the Switch Witch, who then swaps the candy for a non-edible, fun present — a plush toy and boy.
The brother-sister team behind Switch Witch, Rob Bouley and Lara Spear Rily, pitched their business on Shark Tank in October 2015. They asked for $55,000 in exchange for a 25% share in their business, which amounts to a valuation of $220,000. However, they did not get a deal on the show.
After their appearance on Shark Tank, Switch Witch continued to operate their business. In 2018, the company posted free Switch Witch Halloween worksheets and grading guides that are Common Core-friendly for teachers.
However, the absence of a distinctive name and trademark has damaged the business, and at least two further comparable “rip-off” firms are engaged in the same activity. The current net worth of the company is unknown.
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.
