What Happened to Kit Lender after Shark Tank? Kit Lender Shark Tank Update

What is Kit Lender?

Kit Lender, founded by Forrest Shinners, is a company that rents outdoor gear for activities like skiing, snowboarding, and trekking.

They offer a range of kits including Complete Outerwear and Boots, Car Camping, and Backpacking.

Forrest, who has a background in business administration and finance, previously worked in capital research and management before starting the company.

Who is the founder of Kit Lender?

Forrest Shinners founded Kit Lender in 2014 and launched it in 2015.

He came up with the idea while working in banking in New York City, where he noticed that many people enjoyed outdoor activities like skiing and snowboarding, but didn’t want to invest in their own equipment.

He began by allowing his friends to use his parents’ house and equipment for ski trips, and eventually turned this idea into a business that now ships to all 50 states.

Kit Lender rents not just skis, but also all the other gear needed for skiing, including gloves, goggles, boots, a jacket, and ski trousers.

They even provide underwear and socks, but they must be purchased. The cost for a “kit” ranges from $30 to $50 per day.

Customers can order online and have the equipment delivered directly to the ski lodge’s front desk, and return it using the included pre-paid envelope. Kit Lender has seen significant success working with resorts that typically only rent skis.

What Happened to Kit Lender at Shark Tank pitch?

In the Shark Tank Holiday Special of Season 11, Episode 9, Forrest Shinners presented his booming ski equipment rental company, Kit Lender, to the Sharks in hopes of securing an investment.

He sought $200,000 in exchange for a 7% stake in the company, which was valued at $2.9 million. While the Sharks appreciated the concept and convenience of the business, as well as its past sales of $750,000 in 2019, they were concerned about the large amount of inventory required for expansion.

Ultimately, none of the Sharks decided to invest, and Forrest left the pitch without a deal, although the Sharks wished him success in his future endeavors.

What Happened to Kit Lender after Shark Tank?

The firm experienced a high volume of website traffic, with over 25,000 concurrent users, even though no deal was made on Shark Tank.

The company has since improved its website and expanded its product offerings to include camping and hiking supplies. As of January 2022, the firm is still in business and generates $1 million in annual revenue.

Competitors of Kit Lender

The biggest competitor of Kit Leader is Ski Butlers.

Net Worth of Kit Lender

The company’s value was $2.9 million at the time of and following the pitch, but since then the company has continued to operate and therefore its net worth may now be greater.

Kit Lender Shark Tank Episode Summary

Company/Product	Kit Lender
Shark Tank Episode	Shark Tank Season 11 Episode 9
Founder & Entrepreneur	Forrest Shinners
Amount Asked For	$500,000 for a 7% stake in the business
Deal: Accepted Offer	No Deal on Shark Tank
The Shark Investor	None
Business Net Worth	$2.9 million company  valuation
Business Status	The business is still in operations

Kit Lender FAQs

What is Kit Lender?

Kit Lender is an outdoor gear rental firm that is excellent for persons who like sports such as skiing, snowboarding, and trekking on a limited basis but not regularly enough to justify the purchase of their own personal kit.

Who is the founder?

Forrest Shinners founded the firm in 2014 and launched it in 2015.

How much was seeking on Shark Tank?

Forrester was seeking for $500,000 for a 7% stake in the firm.

Did Forrester have the deal?

No, he did not have the deal on Shark tank.

Is Kit Lender still in business?

Yes, Kit Lender is still in business and is operating on a large scale.

Is Kit Lender Shark Tank worth?

Yes, the company valuation was $2.9 million during and after the pitch.

Where is Kit Lender located?

Kit Lender is located in Burlington, Vermont.

How do I contact Kit Lender?

Kit Lender can be contacted via website www.kitlender.com or email address: forrest@kitlender.com.

Who is using Kit Lender?

The firm mostly targets individuals who are not interested in extreme skiing or snowboarding on regular basis, but they still like to do so once or even twice a year.

How long has Kit Lender been operating?

The company was founded in 2014 and initially launched in 2015.

How does Kit Lender make money?

Kit Lender’s revenue is made from selling its kits and selling advertising units to online companies.

Is Kit Lender shipping?

Yes, Kit Lender is shipping all around the United States.

What is Kit Lender shipping cost?

The shipping cost of Kit Lender in a particular state depends on the number of days that it takes to reach the location.

How much revenue is Kit Lender making?

Kit Lender is making $1 million total revenue as of January 2021.

What is Kit Lender return policy?

The customers are required to make their payments within the time period given by the firm. The kit must be sent back to company within 7 days from the date of delivery. The customer must provide all the items returned with it.

What is Kit Lender delivery period?

The firm ships all the products that are being rented to their clients in the same state. As it is shipped by the company, it requires 7-10 days to reach the client.

Is Kit Lender issue a warrant?

No, Kit Lender does not issue a warrant for the rented kits.

Is Kit Lender legit?

Yes, Kit Lender is operating legally and hence legit. It has a license for ski rental business in Vermont.

How do I pay for Kit Lender?

The customers can pay for the rent of the kit by cash and credit cards. Also, they can pay by bank transfer through their website.

Can I find a Kit Lender store?

Yes, Kit Lender has over 200 stores across the nation.

Is Kit Lender safe to use?

Yes, Kit Lender is safe to use. The firm has revenue of over $1 million as of January 2021.

How much trouble do I face if I lose my Kit Lender equipment?

Fortunately, the firm has a 24-hour customer service number and provides replacement equipment.

Can I rent ski suits or helmets from Kit Lender?

The customers can rent ski suits and helmets. However, they are sold separately by the company itself.

Who is the CEO?

Forrest Shinners is the CEO and co-founder of Kit Lender.

How much does Forrester Shinners worth?

Forrest Shinners net worth is unknown.