What Happened to The Measuring Shovel after the Shark Tank Pitch? The Measuring Shovel Shark Tank Update
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What is The Measuring Shovel?
The Measuring Shovel is a patented shovel with measures marked from the tip of the blade to the handle that allows you to easily measure the depth, breadth, and distance between your holes when planting trees and plants.
The Measuring Shovel is an excellent gardening equipment for anybody searching for a simpler method to plant in their backyard.
The Shovel is clearly marked, allowing anybody to dig holes in their garden and identify the depth of the hole without the need for a measuring tape.
Gardeners’ lives have been made simpler since they no longer need to use other instruments to measure the distance between plants and guarantee that there is enough space.
Who is the Founder of The Measuring Shovel?
Maddox Prichard invented the innovative measuring shovel.
When he was in fourth grade, he designed the unique measuring shovel.
The shovel was a class project that he won first place for.
Maddox created The Measuring Shovel in 2016 as part of his participation for the Middle Tennessee State University Invention Convention.
They were so impressed with his creation that he earned first place in his grade level (5th grade).
It also won Maddox a trip to Washington, D.C. for the United States Patent and Trademark Office’s inaugural National Invention Convention.
Maddox won the Household Organization and Tools Award, sponsored by Stanley Black & Decker, for the second time.
Maddox’s middle school principal spotted the idea and pushed him to patent it the first time he saw it.
That’s exactly what Maddox’s parents did. They applied for a patent in his name.
He made the prototype for the innovation in roughly a half-hour using a normal shovel, duct tape, a ruler, and a magic marker.
What Happened to The Measuring Shovel at the Shark Tank Pitch?
Maddox and Amanda appeared on Shark Tank season 11 episode 6 in search of $40,000 for a 15% stake in their company. This equates to $266,666 valuation.
They share their narrative and make their argument before inviting the Sharks onstage to dig a hole.
The company is in its early stages, and they’d want a Shark to assist them in bringing their product to market.
A regular non-measuring shovel costs between $10 and $30 at retail, and the entrepreneur believes that the product at the higher end of that price range is always superior.
He, on the other hand, feels that his shovel would cost $10 to make. He also agrees that this is a bit high.
Lori says that, based on what she’s seen, it shouldn’t be any more expensive to manufacture than a standard shovel.
When asked if he would consider licensing his idea, the entrepreneur says he is open to licensing but also wants to get into production.
To that end, he’s asking the sharks for money so he can create a mold and then build the first 2,000 pieces.
Robert soon departs the arrangement, claiming that he is simply uninterested in the concept and does not see the benefits.
Mark, too, quits out, claiming that he doesn’t have a green thumb and “didn’t even realize it was a shovel” until he was told.
Kevin appears to appreciate the notion, claiming that if the prices were the same, consumers would always choose the Measuring Shovel.
He used Benjilock, a contract he struck in season nine, as an example of how this has happened to him.
He then asks Lori if she wants to collaborate on a license contract. Lori and Kevin then make an offer of $40,000 in return for 30% ownership of the company.
Guest shark Daniel Lubetzky seemed to appreciate the product and believes it would be enjoyable to work with the entrepreneur.
Instead of licensing, he says he’d prefer to assist the entrepreneur in building the firm, presumably the manufacturing side. He would need a quarter of the company to do so.
The entrepreneur counters Kevin and Lori with 25% shares, but Mr. Wonderful refuses to participate, claiming that the entrepreneur is striking a deal with two sharks, which implies giving up more of his business.
When the entrepreneur asks for $50,000 instead of just the original $40,000 in exchange for further shares, Kevin once again says no.
Finally, the entrepreneur accepts the proposal, teaming up with Kevin and Lori in return for a 30% stake in his company’s worth.
What Happened to The Measuring Shovel after the Shark Tank Pitch?
Lori and Kevin’s arrangement never came to fruition. Maddox, on the other hand, now has a website.
According to their website, as of January 2022, “Currently the measuring shovel isn’t available for sale! We hope it will be soon! Check back soon.”
What is the Net Worth of The Measuring Shovel?
Maddox and Amanda appeared on Shark Tank season 11 episode 6 in search of $40,000 for a 15% stake in their company. This equates to $266,666 valuation.
They accepted an offer from Kevin and Lori of $40,000 for 30% stake which brings valuation to be $133,333.
Current valuation is unavailable.
Who are the Competitors of The Measuring Shovel?
There are no competitors identified for The Measuring Shovel.
The Measuring Shovel FAQS
What is The Measuring Shovel?
The Measuring Shovel is a unique measuring shovel that is used for planting flowers and plants.
It is an entirely different tool from the regular shovel that gardeners use to dig holes and plant vegetables, particularly tomatoes.
Who founded The Measuring Shovel?
The Measuring Shovel was invented by Maddox Prichard.
How much were they seeking in the Shark Tank?
The Measuring Shovel sought $40,000 for 15% stake in their company.
Did they get the deal from the Sharks?
They accepted an offer from Kevin O’Leary and Lori Greiner of $40,000 for 30% ownership.
Is The Measuring Shovel still in business?
Yes, but as of January 2022, the shovels are not for sale as per their website.
Where is The Measuring Shovel located?
The Measuring Shovel is based in Gallatin, Tennessee
When was The Measuring Shovel aired on Shark Tank?
Their Shark Tank pitch aired on season 11 episode 6 in November 3, 2019.
Is The Measuring Shovel patented product?
Yes, his innovation was accepted by the US Patent and Trademark Office in October 2018.
What happened to the shark tank with measuring shovels?
Lori and Kevin’s arrangement never came to fruition. Maddox, on the other hand, now has a website. The shovels are no longer on sale as of January 20, 2022.
How much is the measuring shovel costs?
Currently, a regular non-measuring shovel costs between $10 and $30 at retail, and the entrepreneur believes that the product at the higher end of that price range is always superior.
