Is that old fireplace keeping you warm this winter and giving you the benefits of an eco-friendly atmosphere? Well, if not then here comes Earthlog – an affordable firelog made from recycled paper and candle wax that has multiple benefits like, an instant fire starter, burns longer, is hotter in its warmth, and above all smells better. Giving you the comfort of nature in your own cozy home.
All the warm benefits come close to the heart when I tell you it’s less expensive. The birth of the idea will be known in just a bit.
EarthLog at a glance:
|BUSINESS IDEA||Scented clean burning manufactured fire logs|
|ASKED FOR||$160,000 For 20%|
|ACCEPTED OFFER||$160,000 For 35%|
|BUSINESS STATUS||Out Of Business|
Who is the owner of EarthLog?
The birth of the evergreen idea of EarthLog took its shape and morphed from a fire starter to the log we know today on the kitchen table of the founder Tom Sanetti.
He was looking for an idea to make a product out of junk mail and he stumbled across the simplest thing a fire log. The next thing he did was devised an ingenious formula that bonded candle wax with paper that was recycled.
This gave shape to the dream of the business which turned out to be a success once the product came out. Let’s see if this ingenious one-of-a-kind idea got a deal on the shark tank or not.
Did Earthlog get a deal on Shark Tank?
The deal was a friendly innovative discussion that wasn’t bought by most of the sharks except Lori who loved the concept. Let’s see how it went ahead in the shark tank episode. The founder of earth log came into the shark tank seeking an investment of $160,000 for 20% for his business that was on raging fire in terms of sales.
The first question asked by the sharks is from Kevin who keeps the sharks thinking. He says “He buys 10 boxes of fire logs and wants to know how he can differentiate between the two logs for the fire.” The answer was that the earth log is less expensive.
He made $200,000 in 4 years for sales of the product and in the last year, the sales were $50,000 of sales for the last year before shark tank. He told the sharks of how he had converted his kitchen workplace into a manufacturing facility in the 4-year period.
Kevin wants to know if the product has been sold to big retailers or not and gets a reply saying that the product is yet to be introduced in stores like Costco and Walmart, Albertsons. Primarily, due to the problems faced in manufacturing the product to these retailers.
Mark says he loves the product but finds the product needs too much work. So he’s out. Next Nick agrees with mark and says that the product has decided to go too fast almost from zero to thousand miles per hour therefore he is out. Kevin tells the story of when he gave up 50% of his business and sold it for $4billion. He decides to not have a deal with Tom. Distinguishing from the rest Tom receives an offer from Lori who loves the product.
Tom gets a deal of $160,000 for 35% of his company to which he agrees happily.
What happened to EarthLog after Shark Tank?
The company had splendid success once Tom got a deal on shark tank with shark Lori. The company saw its sale on online shopping websites like Amazon, Walmart, and Home Depot. The reviews are 45 in number and the rating on Amazon for the product of earth log is a mere 3.4.
The product is known for many features and there are many competitors to the product that meet the needs but earth log surpasses all of them. The product has multiple benefits to reign supreme in its industry. These are:
- It burns hotter
- Burns longer
- Smells better
- Renewable in nature (better for the environment)
- Has a fire starter component as a unique offering.
The new product introduced in the category smells all nature with the citronella log. The major advantage of this product is that it keeps the bugs away at night once burnt. The rest of the features are the same.
They now make money selling online as well as offline in retail stores around the country. They sell the product on Amazon, Walmart, Albertsons, and many more. The company went out of business in 2018.
What’s the net worth of EarthLog?
They entered the tank, looking for a valuation of about $800,000. At the time of the shark tank appearance, EarthLog was valued at around $456,000 after the Lori deal.
Is Earthlog still in business?
Yes, Earthlog went out of business after getting a deal from Lori Greiner in 2018. The company is introducing new products in its brand like the citronella log. These products are no longer sold as the business shut down in 2018.
Interesting Facts about Earthlog:
- The log has seen its sales in many retail outlets like TJ Maxx, Marshalls, and Home Goods.
- Tom Sanetti is from Huntington Beach California
- Tom wanted to keep the production of the product to be in America and not in China.
- The company that produces the products is known as American Green products.
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What is Earthlog?
An affordable firelog made from recycled paper and candle wax that has multiple benefits like, an instant fire starter, burns longer, is hotter in its warmth and above all smells better.
Who founded Earthlog?
The founder of Earth log is Tom Sanetti.
Did Earthlog get a deal on shark tank?
Yes, Earthlog got a deal on shark tank with Lori Greiner of $160,000 for 35% of his company.