We often see humans clearing up forests for their personal gains and advantages and hunting down animals that pose a threat to their existence.
But, have you ever wondered why animals become violent and attack human inhabitants? It is because they see us as a threat to their existence.
Much like various other animals, bats have been put under abuse for a long period of time and have lost their natural habitats almost entirely.
To solve this issue and safeguard bats BatBnB is here with its product that aims not only at providing bats with shelter but also doubles up as a mosquito controller.
BatBnB Pest Control at a Glance:
| Idea | Designer Bat houses |
| Founders | Harrison Broadhurst and Chris Rannefors |
| Asked For | $100,000 for 16.5% |
| Accepted Deal | $100,000 for 33.3% |
| Sharks | Kevin O’Leary |
| Business status | In Business |
| Episode No. | Season 10, Episode 23 |
Index:
What is BatBnB Pest Control?
BatBnB Pest Control is a company that manufactures designer bat houses to help protect the species that is getting extinct rapidly due to the loss of its natural habitat.
The company is a pioneer in this field and also provides an app, BatBnB that allows interested individuals to monitor the bat’s growth.
The company’s main aim is to provide bats with an artificial environment that highly resembles their natural one and helps provide shelter to them and their young ones.
It is also claimed to be a natural mosquito repellent as mosquitoes do not breed in the habitats of bats.
Founder Story:
The company’s journey started with the founders coming from different backgrounds that connect them to the business. Rannefors was habitual of constructing shelters since he was a kid and Broadhurst’s mother studied bats during her biology studies.
In 2016, The founders started conceptualizing their Bat dwellings. They found out that the bat population was decreasing substantially due to habitat loss, disease, and wind turbines.
As a result of this climate change mosquito population has been increasing rapidly, and bats can be extremely useful because they are known to be natural mosquito repellents.
The BatBnB founders recognized the importance of bats and decided to redesign the concept of bat homes which until then was rather visually unappealing to bats. This was when they came up with their product BatBnB Pest Control.
Did BatBnB Pest Control get a deal on Shark Tank?
The founders entered the tank with an ask of $100,000 for 16.5% equity in the company. The valuation they asked for was around $606k. They wanted to seek assistance from the sharks in the domain of marketing and mass production.
The founders highlighted the importance of their product and their profit margin from it. They made each product for about $89 and sold it for $239.
They had generated around $135,000 in revenue by then and anticipated a sale of $145,000 in the year 2018.
Out of all the sharks, Kevin was the most interested in the startup due to his prior knowledge of the subject while living in Tunisia.
Hence, he made an offer of $100,000 for 33.3% equity, valuing it at $300,300. The founders decided to go ahead with the deal on the condition that Kevin would wear a bat costume sometime in the future.
What happened to BatBnB Pest Control after Shark Tank?
Though the founders sealed a deal with Kevin on the show, the deal never officially went through. Despite of the failed deal, the company continues to grow and has recently touched sales numbers of around $1 million.
Since then, the company has been featured in Architectural Digest and was also officially approved by Merlin Tuttle, a bat conservation organization.
In 2020, the founders made it to Forbes’ 30 under 30 list. In their drive to promote their product, they partnered with various NGOs devoted to bat conservation, and one BatBnB was also awarded to Kennebec Estuary Land Trust for winning an online competition.
As of 2021, the company continues its business through its own website and Amazon, with a reduced single unit cost of $80. The company continues to build its worth rapidly, currently being at $1 million.
Product Details:
- BatBnB products consist of humble dwellings for bats to help replace and resemble their natural habitat as much as possible.
- The house features small niches preferred by bats, internal grooves for greater grip, and a house frame that is both rot-resistant and water-tight.
- The house frame is made wholly from Cedar wood.
- The house can be easily mounted on a barn or a pole.
What is the Net Worth of BatBnB Pest Control?
Before entering the Tank, the company had a valuation of $625,000 though it entered the tank with a valuation ask of $606k which was lower than their then valuation. The deal that they accepted brought the valuation further down to $303k.
After the episode went on-air the company has achieved many laurels and has successfully increased its sales to a huge amount. The current Net Worth of the company now sits at $1 million.
Is BatBnB Pest Control still in business?
Yes, the company is still in business. BatBnB has managed to attract customer attention with its sleek and beautiful designs which are bound to attract bat protection enthusiasts.
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FAQs:
What is BatBnB Pest Control?
BatBnB Pest Control is a company that manufactures designer bat houses to help protect the species that is getting extinct rapidly due to the loss of its natural habitat.
What's the net worth of BatBnB Pest Control?
Before entering the Tank, the company had a valuation of $625,000 though it entered the tank with a valuation ask of $606k which was lower than their then valuation.