What Happened to Kit Lender after Shark Tank? Kit Lender Shark Tank Update
Table of Contents
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.
Kit Lender provides a variety of kits, including a Complete Outerwear and Boots Kit, a Car Camping Kit, and a Backpacking Kit.
Forrest Shinners, a former reporting analyst turned entrepreneur, started the firm. Forrest got bachelor’s degrees in Business Administration and Accounting and Finance from the University of Vermont.
Following graduating, he worked in a variety of capacities related to capital research and management before opting to pursue entrepreneurship full-time.
Who is the founder of Kit Lender?
Forrest Shinners founded the firm in 2014 and launched it in 2015. While working in banking in New York City, Forrest came up with the idea for Kit Lender.
He noted that many of the individuals he worked with occasionally loved outdoor activities, notably skiing and snowboarding, but not nearly enough to invest in their own equipment.
When he went to New York City following graduation, his pals expressed a desire for fewer ski vacations. Skiing is an expensive sport: lift tickets may cost up to $200, and skis, appropriate clothes, and a place to stay are all required.
Skinner invited his friends to join him skiing by allowing them to stay at his parents’ house and giving those skis and clothing, both of which were plentiful at his place.
That was the point at which the light bulb went out. Kit Lender began operations in 2014 and now ships to all 50 states. Forrest reports that the company has grown 100 percent year over year and anticipates shipping 10,000 “kits” in 2019.
The firm does not only rent ski gear; they rent everything men, women, and children need to go skiing, including gloves, goggles, boots, a jacket, and ski trousers. They’ll even give you with underwear and socks, but you must purchase them!
A whole “kit” costs between $30 and $50 every day, depending on the sizes and styles chosen. Simply select your equipment on the internet, and they’ll send it directly to the ski lodge’s front desk.
When your vacation is complete, place all items in the included pre-paid return mailing envelope and leave them at the front desk.
Kit Lender has had significant success dealing with resorts that typically rent skis but not anything else.
What Happened to Kit Lender at Shark Tank pitch?
In Shark Tank’s Holiday Special, Season 11 Episode 9, Forrest Shinners wants the Sharks invest in Kit Lender, his booming ski equipment and gear Rental Company.
Forrester desires the assistance of a Shark to assist him with the logistics of expansion.
Forrest entered the Tank in seeking of $200,000 in exchange for a 7% stake in his firm, which worth $2.9 million.
He discusses the firm and its origins. The Sharks appreciate the business’s idea and convenience. Additionally, they enjoy the sales: $750,000 in 2019.
They dislike the massive quantity of inventory necessary to expand their firm. Lori was the first Shark to exited, followed by Mark, Barbara, Kevin, and lastly Robert, all of whom wished Forrest success in his endeavor. Finally, Forrester walked away from the pitch without a deal.
What Happened to Kit Lender after Shark Tank?
Despite the lack of a deal, the show night traffic clogged the firm website with over 25,000 concurrent users.
Since appearing on Shark Tank, this firm has remained operating and upgraded its website. As of July 2021, the firm had expanded its product line to include camping and hiking supplies.
As of January 2022, the firm continues to operate with $1 million in yearly revenue.
Competitors of Kit Lender
The biggest competitor of Kit Leader is Ski Butlers.
Net Worth of Kit Lender
The company valuation was $2.9 million during and after the pitch. Since then the company is still operating and hence the company net worth might be higher than that of pitch.
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: [email protected]
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.
