Have you always been paranoid about your young ones being around a lot of chemicals?
Have you always wondered how clean your house surfaces are after getting cleaned by cleaning equipment full of chemicals?
Well, Better Life is here to replace your old cleaning equipment with their green line that is so safe that it can be eaten!!
Better Life at a Glance:-
|Idea||Plant-based cleaning solutions|
|Founders||Tim Barklage and Kevin Tibbs|
|Asked For||$400,000 for 7%|
|Accepted Deal||$400,000 for 17%|
|Business status||In Business|
|Episode No.||Season 5, Episode 7|
|Buy on Amazon||Buy Now!|
What is Better Life?
Better Life is a plant-based cleaning product line that aims at replacing chemical-ridden cleaning products with their green line of products.
Most of the cleaning products we use might remove the visible stains from the surfaces but they leave behind a trail of chemicals that is hazardous to our health.
The conventional cleaning products that are available in abundance in the market today are cheap but extremely harmful to the environment as well.
These chemicals once washed away can cause pollution in various local water bodies. Better life cleaning solutions present an alternative that solves all these problems with cleaning lines such as “I Can See Clearly, Wow” and “Even The Kitchen Sink” etc.
Tim and Kevin, the founders of Better Life have been friends for the longest time. They got the idea of developing this company when they had kids.
They were vary of the idea of their toddlers putting their fingers in their mouths after touching surfaces that had traces of chemicals on them.
They sought out another alternative but ended up making one since they didn’t find any in the existing market.
Kevin is the “Mad Skilled Scientist” as they state, who develops all the formulas of their cleaning products while Tim is the marketing and branding guy.
Together these two built their startup Better Life which aims to solve the major concern of new-generation parents.
Did Better Life get a deal on Shark Tank?
The founders of Better Life entered Shark Tank with a demand of $400,000 in exchange for 7% equity.
They demonstrated their product by disinfecting a surface that was in contact with raw chicken by a leading cleaning brand and then by Better Life disinfectant.
The difference between the extent of disinfection was evident. Kevin sprayed disinfectant in his mouth to show how safe they were.
The pair reveal that they started their business 4 months before entering the tank and since then they have made a total of $2 million in sales with virtually no debt.
Although they had only 7% profit they countered this fact by stating that they had been reinvesting heavily in their business.
The sharks were very interested in the product. Lori offered them a deal of $400k for 17% with direct integration into Bed Bath and QVC.
Daymond and DeJoria offer them $500k for 20% and Mark comes up with $800k for 20%. Kevin then comes up with an offer of $400k for 17% which would be reduced to 7% once the loan is paid. Lori matches Kevin’s offer and the duo accepts Lori’s offer without a delay.
What happened to Better Life after Shark Tank?
After a banger presentation in Shark Tank and with all 5 sharks fighting tooth and nail for their business, it was sure that Better Life was here to stay.
With Lori Griener leading the way, the sales of the business have doubled, and has gained major contracts with retail stores such as Meijer, Marianos, and some Target stores.
Better Life is now available internationally as well as expanding its branches in Canada, Bermuda, Korea, and the whole of the European Union.
The Business has grown by 645% and is the 503rd Fastest Growing Business. In 2018, the company was acquired by Bissel Inc. for an undisclosed amount, and as of August 2022, it has an annual revenue of $5 million.
- The cleaning products are created using plant extracts and they are so safe that they can even be eaten!
- The company has many lines of cleaning products that have very catchy header lines such as “Even The Kitchen Sink” and “I Can See Clearly, Wow”.
- Better Life offers various perks to the employees including term life insurance, whole life insurance, final expense insurance, and guaranteed retirement income.
- The company also provides exclusive benefits such as community support, and tools like Life insurance calculator to aid their customers.
What’s the net worth of Better Life?
The businessmen entered the Tank with a demand of $400,000 for 7% equity, evaluating the company to around $571k. They sealed the deal with Lori Greiner, after which their company was evaluated to $2.35 million.
After the venture at Shark Tank and a major boost after the episode got aired, the estimated Net Worth of Better Life is said to be about $5 million.
Who are the competitors of Better Life?
The major competitors in the line of green cleaning are:
- Bulk Green Cleaners
- Grab Green
- Shecology Inc.
- Toni Natural Products Co LLC, with all of them having a net worth of around $5 million.
Is Better Life still in business?
Yes, Better Life is still in business. It did get acquired by Bissel Inc., but the business is still focused on crafting cleaning products that are not hazardous for the human body and are free of chemicals.
The company emphasizes on chemical-free environment while providing the best cleaning experience.
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What is Better Life?
Better Life is a plant-based cleaning product line that aims at replacing chemical-ridden cleaning products.
What's the net worth of Better Life?
The estimated Net Worth of Better Life is said to be about $5 million as of 2023.