What Happened to SneakERASERS After Shark Tank?
What is SneakERASERS?
SneakERASERS are one-of-a-kind shoe cleaners that employ patented technology to assist clean and restore the look of unclean sneaker soles.
SneakERASERS are simple, reusable sponges that arrive pre-moistened with a cleaning solution and are designed to clean your shoes quickly and simply without the use of cumbersome equipment.
SneakERASERS co-founders Chris Pavlica and Kevin Consolo both attended Ohio University and studied in different fields.
Pavlica was pursuing a career in film, while Consolo was studying business. Prior to co-founding FTI Brands, Pavlica created and produced films, while Consolo worked in communications and business responsibilities.
Who is the man behind SneakERASERS?
Sneaker Erasers creators Chris Pavlica and Kevin Consolo used to talk about million-dollar ideas when roommates at Ohio University.
That vision was realized five years later. Pavlica was a filmmaker based in Los Angeles, while Consolo worked in sales for a brewery in North Carolina.
Pavlica was supposed to pitch a film idea to Coca-Cola one fateful day, and his shoes were all scuffed.
He just about kept them clean enough to escape disgrace. That night, he texted an old buddy, saying, “I have an idea!”
As a delivery vehicle, the gentlemen chose a pre-moistened sponge. They got right to work in Chris’ garage, producing a product in record time. The gentlemen began selling after everything was in order.
That happened in 2016. Because of the Covid-19 pandemic, they were compelled to move to solely digital sales in 2020.
They already have two warehouses in Los Angeles and Buffalo, with a third in Columbus, Ohio, on the way. They’re also available at Costco, Walmart, CVS, and a number of other major retailers. They are, in fact, present in over 30,000 retail locations.
What happened to SneakERASERS during their Shark Tank pitch?
Chris Pavlica and Kevin Consolo devised the method, which is presently seeking patent. The revolutionary form of the dual-sided sponge makes it an easy and convenient option for keeping shoes clean and stylish.
Chris and Kevin make a $200,000 offer for 8% equity shares of their company with $2.5 million valuation.
With such a useful product, the two were thrilled to report that they had sold $1.1 million in the year previous the incident.
Even better, they anticipated to end the year with $1.8 million in income, owing to agreements with big-box shops to sell their products nationwide.
Nonetheless, the two believed that a shark was necessary to help them with margins as well as marketing and promotional ideas.
Lori Greiner and Alex Rodriguez quickly teamed together to offer $200,000 for a 20% stake in SneakERASERS. Both believed that their backgrounds qualified them as suitable sharks for the product.
Mark Cuban, on the other side, threw his hat into the ring, claiming to have a whole new idea for how SneakERASERS might go viral.
SneakERASERS, according to Mark, may gain from collaborating with shoe companies. In order to make this happen, Mark promised to spend $200,000 for a 12.5 percent interest rate.
Despite the fact that this was a better offer than Lori and Alex’s, Chris and Kevin felt forced to respond. This confused Mark, and the owner of the Dallas Mavericks withdrew his offer.
The two would finally reach a deal with two Sharks, Alex Rodriguez and Lori Greiner, for $200,000 in return for 20% equity shares worth $1 million. Kevin, Chris, and the two Sharks ultimately reach a deal.
What Happened to SneakERASERS After Shark Tank?
After appearing on Shark Tank and securing a deal, the business has thrived in the months thereafter! The Instant Sole and Sneaker Cleaner had a rating of 1,087 on Amazon at the time of publication.
Meanwhile, as part of Tory Johnson’s GMA agreements, their products were just chosen as one of 28 to be featured on ABC’s Good Morning America.
It’s wonderful to see how much SneakERASERS has grown in the months after appearing on Shark Tank, especially on the e-commerce side as the company expands.
SneakERASERS’s net worth
The firm was valued at $2.5 million at the pitch; after the two Shark investments, the company had a net worth of $1 million in 2021.
What kind of problem does SneakERASERS solve?
For those who wear sneakers, it causes problems on the soles that are irreversible; Sneaker Erasers solve the problem by removing and preventing scuff marks while keeping shoes clean and stylish.
How many SneakERASERS do you have?
SneakERASERS has a total of six different kinds, with sizes ranging from 3.5″ to 11.75″.
How is SneakERASERS different from other methods that remove stains from shoes?
Sneaker Erasers use two sides: a soft, absorbent sponge on the top, and two hard rubber pads on the bottom for scrubbing.
How do you use SneakERASERS?
Like a normal sponge, SneakERASERS can be used for a number of different applications. They are also exceptionally appropriate for washing and cleaning sneakers since they are completely reusable.
What is the best way to keep my shoes clean?
Sneaker Erasers are the ideal way to keep shoes clean. They remove stains and soil from the surface of shoes, and are also highly effective for cleaning the insole or sole.
What does SneakERASERS’s product name stand for?
SneakERASERS stands for Sneaker Erasers, a reference to their ability to clean the soles of shoes. They also clean other areas that are covered in dust or dirt, including any part where a sneaker touches the ground.
Where is SneakERASERS sold?
Sneaker Erasers are sold on the SneakERASERS website, Amazon, and eBay. All of the products are also available at Target and Walmart.
Do you get sneakers wet to use SneakERASERS?
No; the soft sponges absorb liquids that get on shoes, so they can be used any time of day without getting them wet.
How much do SneakERASERS cost?
Sneaker Erasers are sold in pairs of two, and can be bought together or individually. The price of each pair ranges from $8 to $10 depending on the size and material (cheaper if bought together).
What do SneakERASERS look like?
Sneaker Erasers are a two-sided sponge that is used for cleaning sneakers. The two sides have dense sponges on the top and absorbent pads on the bottom. It’s a simple product that can be used to keep sneakers clean and looking fresh.
What is SneakERASERS made out of?
Other than being made from rubber, SneakERASERS are completely recyclable, so there’s no long-term damage to the environment with their use.
How is SneakERASERS made?
The product is made in China. It’s a 100% natural sponge that generates foam when wet, which removes stains effortlessly.
How long does it take to use SneakERASERS?
Sneaker Erasers can be used for at least 20 uses before the sponge needs to be replaced (although the company recommends replacing it before then).