Sweep easy company worth8/10/2023 This year, Pride is different for companies. Both brands say they continue to support the LGBTQ+ community: Bud Light on Tuesday announced a donation to the National LGBT Chamber of Commerce in support of LGBTQ+ owned small businesses, and Target has continued selling much of its Pride merchandise in stores.īut the backtracking shows that backlash and threats could create a chilling effect for companies, and leave them without a clear path forward. (BUD) released a vague statement calling for unity and Target pulled items from shelves. In both cases, the companies seemed cowed: The CEO of Bud Light owner Anheuser-Busch Right-wing commentators, politicians and others called for boycotts, and the brands’ employees were threatened with violence. (TGT)’s line of goods marketed to trans customers and allies. (TGT) and Bud Light, were targeted by right-wing media and on social platforms for relatively small LGBTQ+ initiatives: Bud Light’s Instagram partnership with a trans influencer, and a subset of Target In recent weeks, two major brands, Target But this year won’t be nearly so straightforward. In terms of net worth Sweep Easy is doing well too, with the company worth over an estimated $10 million.Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. ![]() There are now a range of colors available on the Sweep Easy website and products are on sale in a variety of stores. The Shark Tank appearance helped Shane and Sweep Easy to gain recognition, and the sharks came good on their deal to promote the product to a commercial audience. The intrepid inventor gratefully shook hands to accept $80,000 for 25% equity. Following further discussion O’Leary agreed to alter the terms, offering $80,000 for 25%.Įventually, Shane, swayed by the idea of keeping the product in house, rather than licensing with other companies, opted for an offer made by Kevin Harrington and Daymond John. Robert Herjavec then waded in, partnering with O’Leary and offering another $40,000 if Shane accepted the licensing deal (taking the offer to $80000 for 40% equity). John’s offer came with a promise to help Shane not only set up the company, but also to introduce other products. With a bidding war ensuing O’Leary upped his offer to $50,000 for 20%, closely followed by Daymond John offering $75,000 for 33%. Kevin Harrington then countered, affirming that Shane should take the direct-to-consumer sales route. Kevin O’Leary initially stepped up, offering $40,000 for 25%, providing the brooms were licensed with existing companies. Shane intended to sell to both the domestic and commercial market (targeting cinemas, theatres, restaurants etc.) but needed help from the sharks to create a viable direct-to-consumer business. What he did have though, was a number of prototypes and an attractive business model. Shane managed to hold his nerve in front of the formidable sharks, despite having to admit he had zero sales to his name. When Shane jumped into the ABC show, Shark Tank, (season 2 week 6) he initially valued his company at $160,000 – asking for $40,000 for a 25% stake. The tool if designed to be easy to use and is great for removing food, stickers etc.Ĭheck Out More Reviews Overall Score: 95/100 The product itself resembles a broom, but it has the added benefit of a built-in, retractable scraper. If you’ve ever had to stop sweeping the floor in order to scrape up a mashed-in cake or a sticky sweet, you’ll understand why the Sweep Easy sweep and go broom is so popular. Like many a fledgling inventor, Shane Pannell came up with a clever solution to an everyday problem. Sure that he was on to a winner, Shane took his prototype sweep and go broom to the Shark Tank – securing investment and gaining exposure to a wide audience. ![]() Perplexed to find there was no other suitable tool on the market, Shane put down his butter knife and invented his own clean up product – the Sweep Easy which has gone on to command a net worth of over $5 million. A busy stay-at-home dad, Shane often found himself kneeling on the floor, scraping up dried bits of food – usually with a butter knife! That certainly proved to be the case for Shane Pannell. We all like gather round the table to eat with family and friends, but let’s face it, dinnertime can be a messy affair.
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