What Happened to OneSole Shoes After Shark Tank?
What is OneSole Shoes?
OneSole Shoes is a fantastic invention that allows women to change the color or design of the components of their shoes. The kit includes a range of soles that may be used with a variety of tops.
When traveling, flexibility benefits in the reduction of luggage. This also eliminates the need to buy many pairs of similar shoes.
Dominique McClain Barteet developed OneSole as a hobby while working at her pharmacy. She began her pharmacy career at Pharmacist Medical Drugstore before founding her own independent pharmacy in North Palm Beach.
She continues to pursue her pharmaceutical passion while running the firm she created in 2002. Her trial-and-error approach to the project has proven beneficial to a significant number of women.
Who is the founder of OneSole Shoes?
Dominique McClain Barteet founded OneSole in 2002 in West Palm Beach, Florida. She reasoned that there has to be an easier way to change the colors and styles of shoes on the same pair.
Dominique began experimenting with this notion in the back area of the drugstore. Dominique developed the OneSole concept via trial and error, having no prior experience in shoe design or the business sector.
Dominique’s tenacity paid off when she developed the OneSole brand, which is now known for its versatility, allowing shoe components to be interchanged.
Dominique realized she needed help to take OneSole to the next level and genuinely upset the industry. She entered the tank in the hopes that one of the sharks would invest in her company.
Tourists are particularly drawn to OneSole. Ladies may travel with as many pairs of shoes as they like without compromising valuable luggage space thanks to several toppers for each sole.
What Happened to OneSole Shoes at Shark Tank pitch?
Dominique Barteet, McClain, introduces her invention, OneSole Shoes, to Shark Tank episode 208. Barteet’s early success developed a strong brand, which may pique the Sharks’ interest as he looks for a partner.
Barteet appeared on Shark Tank in seeking of $500,000 in return for a 20% stake in her firm, worth $2.5 million.
She then gives Barbara Corcoran a brief demonstration of the shoes and offers her to try one on. Corcoran calls the shoes “heaven,” referring to how comfy they were.
Kevin O’Leary was skeptical about the company’s valuation until he saw that Barteet generates over $20 million in revenue and sells her goods in 30 countries.
Her sales for the current fiscal year surpass $4 million, and her earnings routinely top $1 million. She is the owner of a patent, a trademark, and a copyright.
Barteet has come to the Shark Tank looking for a business partner. She feels she lacks the essential contacts and distribution network to successfully bring OneSole Shoes into the retail market. Her statistics astounded the Sharks.
Kevin O’Leary wanted to know if she was thinking about selling the entire business. She has obviously piqued the Sharks’ interest.
The original idea was made by Robert Herjavec. He’s willing to put up $100,000 for a 10% stake in the company in exchange for Daymond John, Kevin Harrington, Kevin O’Leary, and Barbara Corcoran each putting up $100,000 for a 10% stake.
Daymond John offers $500,000 for 35% stock shares prior to Barteet’s response, thereby excluding the other Sharks from the deal.
Barbara Corcoran declines to make an offer, claiming that the company would need an inordinate amount of her time.
Kevin O’Leary offers buying the company outright in order to repay the investment and make both parties wealthy. Barteet says no.
Kevin Harrington and Robert Herjavec make one more attempt, offering $500,000 in return for 50% ownership of the company.
With two competing offers, Barteet accepts Daymond John’s offer of $500,000 in exchange for 35% ownership of the company. She has a Shark deal and a partner for her OneSole enterprise.
What Happened to OneSole Shoes After Shark Tank?
Since accepting the Shark offer, Barteet’s deal with Daymond John has been finalized, and she has taken her brand to a whole new level.
Barteet’s days of running a mail-order pharmacy and running her shoe company out of a back room are long gone.
She now spends her time to encouraging other entrepreneurs to achieve their dreams, and she has even been known to invest her own earnings in start-ups. She’s ascended from OneSole to success, thanks in part to the Sharks.
Dominique has recently been looking either licensing OneSole Shoes or selling the company outright. She hopes to retire comfortably by capitalizing on her wildly successful business.
As of July 2021, the firm was still in operation. Dominique should be financially secure when she retires, Dominique should be financially secure when she retires, and Dominique should be financially secure when she retires.
The firm is still in operation as of February 2022, with annual revenue of $6 million.
Net Worth of OneSole Shoes
During the pitch, the firm was valued at $2.5 million; following Daymond John’s investment, the company was valued at $1.4 million.
OneSole Shoes FAQs
What is OneSole Shoes?
OneSole is a shoe company that offers one pair of shoes at a time. Every month, the firm releases new models, and customers may pick whether to maintain their original pair or change out their old sole for a new one at no cost.
Who is the inventor?
Dominique McClain Barteet invented OneSole Shoes in 2002 in West Palm Beach, Florida. She reasoned that there has to be an easier way to change the colors and styles of shoes on the same pair.
How much was seeking on Shark Tank?
She was looking for $500,000 in exchange for a 20% stake in her firm.
Was she the one who made the deal?
Yes, she had the deal with Daymond John after rejecting another offer from Robert Herjavec and Kevin Harrington.
How much money did Daymond John put into OneSole Shoes?
Daymond John put up $500,000 for a 35 percent stake in the firm.
Is OneSole Shoes still in operation?
Yes, OneSole Shoes is still in operation as of February 2022, with $6 million yearly sales.
Where can I get OneSole footwear?
OneSole shoes can be purchased through their website, www.onesole.com.
What are the many shoe varieties offered on OneSole?
On OneSole, you may find a variety of shoes such as sandals, heels, flats, and much more.
Where is OneSole Shoes located?
The headquarters of OneSole Shoes are in West Palm Beach, Florida.
Is OneSole Shoes available for purchase?
OneSole Shoes only ships to the United States. The firm uses the United States Postal Service to send its products.
Is the OneSole Shoes website secure?
Yes, the OneSole Shoes website is secure. Because the site uses SSL encryption, your credit card and personal information are safe when you buy from it.
What is the best way to contact OneSole Shoes?
On their website, clients may fill out a contact form to obtain a response from the firm.
What bank does OneSole Shoes use?
OneSole Shoe processes debit and credit cards through Chase Bank.
How much does shipping from OneSole Shoes cost?
Shipping and handling fees are calculated based on the amount of the order and the address of the final destination. According to their shipping policy, the more clients who buy, the more money they save on shipping.
What is the return policy for OneSole Shoes?
For things purchased through their website, the firm does not accept refunds or product-related complaints.
If a consumer receives defective goods, he or she may return it and obtain a free replacement. If a consumer is disappointed with a product purchased through their website, the firm will issue a complete refund.