What Happened to Supply Razor After the Shark Tank Pitch?
What is Supply Razor?
Supply Razor is a single-edge razor with bigger injector-style blades for much prolonged blade life.
Nonetheless, the razor comes with a 20-pack in case you run out, and the whole price is far lower than that of brand-name razors.
Who Founded Supply Razor?
Supply Razor was founded by Patrick and Jennifer Coddou.
The Supply Razor was established by Patrick and Jennifer Coddou on the notion that everyone deserves a closer, cleaner shave.
Furthermore, achieving that clean appearance does not have to be unreasonably expensive.
Previously, the Coddous were a regular couple attempting to climb the corporate ladder.
Patrick worked as an engineer at Lockheed-Martin. He was most recently assigned to the Skunk Works division, followed by the F-35 Lightning II program.
Jennifer Coddou formerly served as a math educator at the Young Women’s Leadership Academy.
Supply Razor was a small business that began in their home and failed to make a profit despite their efforts.
Recognizing the market potential for their products, Patrick and Jennifer quit their professions and set out to build their little business.
Patrick’s technical and design abilities, along with Jennifer’s propensity for entrepreneurial activities, have resulted in a rock-solid foundation for their firm.
As a consequence of their exceptional leadership and vision, their company continues to flourish.
The Coddous dedicated their hearts and minds into starting their business, teaching themselves everything from website design to product sales.
They applied to Shark Tank after months of hard work, hoping that an investor would help them expand their firm.
The Coddous discovered their purpose and passion in providing only the highest quality things.
They have shown the entrepreneurial world what it takes to commit and endure in the face of adversity in order to establish a firm. They launched their company in 2015, thanks to a $78,278 Kickstarter campaign.
During a road trip out west in 2017, the couple did some soul searching and eventually decided to go all in with Supply.
Patrick served his two-week notice when they returned, and the rest, as they say, is history.
Supply 2.0 was launched in 2017 with a second Kickstarter that raised a whooping $256,092 and set them well on their way.
The Supply 2.0 single blade injection razor is the company’s foundation.
It looks like a typical single-edge razor, yet it comes in a sleek, modern stainless steel package. Replacement blades are around 50 cents each.
Simply insert the pre-loaded blade magazine into the Single Edge and move the lever to replace the blades.
They also sell grooming products including an ultra-lather shave cream, a silvertip synthetic shaving brush, an aloe-based post-shave, a daily wash, and a body lotion.
In addition, they successfully launched a third Kickstarter campaign for the “daily Dopp Kit,” garnering $32,223 in total. This was done to help with the launch of their leather goods line.
What Happened to Supply Razor at the Shark Tank Pitch?
Patrick and Jennifer pitched Shark Tank for $300,000 in exchange for 10% of their company. This equates to a $3 million valuation.
They’re all sporting artificial moustaches, and Patrick’s is missing. Furthermore, he fumbles his lines, which encourages the Sharks.
This year (2019), they boosted their sales to $2.5 million, up from $1 million the prior year.
Each kit costs $28 and retails for $125.
Lori refers to it as the “Cadillac of razors,” although she is unrelated to the product; she is a no-show.
Daniel dislikes single-blade razors and has chosen to refrain from using them.
Mark believes he is hooked to the razor he has been using for the past 25 years; he is presently abstaining.
Kevin is offering $300,000 for 5% + $1.50 per unit in perpetuity.
According to Robert, royalties deplete firms’ cash reserves. He offers $300,000 in return for 15% of the business, and they accept. This puts the total value to $2 million.
What Happened to Supply Razor After the Shark Tank Pitch?
The deal with Robert was never finalized. In the two days after the initial air date, they sold more razors than in any prior month.
In January 2020, they had a million-dollar month. They will produce $12 million in yearly income by July 2021.
What is the Net Worth of Supply Razor?
Patrick and Jennifer pitched Shark Tank for $300,000 in exchange for 10% of their company. This equates to a $3 million worth.
They accepted Robert’s offer of $300,000 for 15%, which equated to $20 million.
Who are the Competitors of Supply Razor?
Supply Razor’s competitors include Bevel, One Blade, and Merkur.
Supply Razor FAQS
Is it true that Supply landed a deal on Shark Tank?
Robert Herjavec and Supply have struck an agreement! $300,000 in exchange for a 15% share in the company.
Which razor was featured on Shark Tank?
After proposing our premium single-blade razor on ABC’s Shark Tank, they made it out alive.
They’re a small company headquartered in Texas that focuses in producing high-quality grooming products for clients that demand the best.
Their flagship product is the Single Edge Razor.
It’s a heavy-duty metal razor with a single easily replaceable (and fairly priced) blade.
Which episode of Shark Tank was supplied?
Patrick and Jennifer Coddou seek aid from a Shark in Shark Tank episode 6 of season 11 to help them develop Supply, their modern, single blade razors.
As a “side business,” the couple founded the firm in 2015.
Are supply blades good?
Supply Co is a Texas-based shaving company specializing in high-end men’s razors, shaving equipment, and skincare.
They have a bevy of fans, including Shark Tank’s judges/investors and GQ, who named their razor the Best Single Blade Razor in 2020.
How long do supply razors last?
A single pack of eight blades can last up to three months if they shave 5-6 times each week.
Is supply razor a safety razor?
There are numerous key differences between a single edge and a double edge razor:
Weight, customisation, mechanics, and blades are all important considerations.
Some are more noticeable, while others contribute to the comfortable, close shave that everyone desires.
To begin with, the Single Edge has only one cutting edge, whereas the DE has two.
Is a single blade razor better?
Single-blade razors are more effective because they remove facial hair precisely without causing excessive blade friction, lowering the risk of getting a skin rash after shaving.
Single blade razors are also more ecologically friendly by design.
Does shaving with a single blade razor result in a closer shave?
A single blade razor, on the other hand, shaves close to the skin’s surface, delivering an extraordinarily close shave without the risk of ingrown hairs or irritation.
Friction is decreased with only one blade, resulting in less irritation and razor burn.
How do they make money?
Supply is a shaving product that must be pre-ordered. Owners select the things they desire and pay for them in advance, prior to delivery. Due to the high volume of orders, processing fees are kept to a minimum.
Why do people buy Supply razors?
The nicest aspect about their razor is how it enhances their shaving experience and turns it into a delightful grooming chore that they must do every day out of necessity.
One of the most appealing reasons to purchase a Supply razor is that it provides superb shaves at an inexpensive price range.
What’s included with the Single Edge?
When customers buy a Single Edge 2.0 in Alloy or Steel, they’ll get the Razor handle, all three Shave Settings, and one Injector Pack with eight blades – enough for around three months.
Can women use the Single Edge?
Absolutely. They have a lot of female customers that love shaving with the Single Edge.
How is the Single Edge made?
Metal Injection Moulding, a cutting-edge manufacturing technology, is used to create the Single Edge Steel.
This method is commonly used in aeronautical and medical applications.