Frywall Shark Tank Updates

Frywall is introduced as a “Silicone-based cone-shaped Splatter Guard” which helps people to prevent the splitting of hot oil all over the cooktop when they cook. The product is a silicone mold shaped like a cone that fits into a frying pan and helps us prevent the splitting of hot oil and spices outside of the pan. It comes in four different sizes. The sizes are 10”, 11”, 12”, and 13” (inches).

Frywall costs around $22 to $30 per unit, depending upon the size. They are heat and dirt resistant and are non-stick, very convenient, and easy to use.

Frywall at a glance

SeasonSeason-09, Episode-14
Business IdeaSilicone-Based Splatter
FounderYair Reiner
Asked For$100,000 for 10% of Equity.
Accepted Deal$100,000 for 10% of Equity.
SharksLori Greiner
Business IdeaIn Business.
Buy on AmazonBuy Now!

Index:

Founder Story:

Frywall is founded and developed by a young entrepreneur and a home chef, “Yair Rainer”. He loves cooking food in his own kitchen but hates to clean all the splits of oil that stick over the cooktop and burner. He wanted to find out a solution to that mess, then he researched that and ordered some silicone squares that he rolled around his fry pan. This was his first prototype, which showed a massive result after using it. He then decided to develop it into a fully effective product and invented Frywall.

After losing his job three months ago, he totally focused on Frywall and made several other prototypes that were much better than the first one. He then installed a mass manufacturing unit and started to produce his product to sell it in the market.

Did Frywall Get a Deal on Shark Tank?

Yair introduced his product in ABC’s famous reality show “Shark Tank” in Season-9, Episode-14. He introduced his product as a “Splitting Guard” to protect our hands from burning and prevent us from cleaning oil splits on the cooktops. He also showed his product demo by cooking food in front of the sharks and asked for an investment of $100,000 for a 10% equity share of his company.

Sharks really liked the product as well as the demonstration and asked for the cost of manufacturing. The cost of manufacturing is just $5.5 which is being sold at a price of $22 to $30. Having a profit margin of up to 75% to 80%. He also told them that 70% of his sales come from his website itself. He manages to achieve a sales figure of $800,000. He is also contacting BedBath & Beyond for collaboration.

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Sharks liked the valuation but they were worried about the sales and competition of Frywall. Therefore, two sharks, Robert and Mark, backed themselves. Later, Kevin showed some interest and offered Yair $100,000 for 15% equity. Lori also made an offer of $100,000 but for a 10% equity share. Then, Daymond also matched the same offer with Lori. But, Yair accepted the offer of Lori and gets a deal from Lori.

What Happened to Frywall after Shark Tank?

After the show, the sales of Frywall hiked really up as a result of the Shark Tank effect. Yair successfully closes the deal with Lori Greiner. Yair was also featured on various other shows on TV, and later, Frywall becomes a household name in the splatter guard area. The sales also increased as Frywall achieved sales of $800,000 in just a few months after the show. Later, Yair also introduced some more items.

He collaborated with various chains of stores and listed his product in various retail shops all over the nation. He also started selling his product online on his own website and on Amazon also. The number of customers of Frywall has increased rapidly in the past few years.

Competitors of Frywall

The idea and the product, both are new in the market. Also, Yair has patented his product. Therefore, no competitors of Frywall can be found in the open market as such.

Net Worth of Frywall

Frywall was initially valued at $1 million at the time of its Shark Tank appearance. But its valuation has increased so far since then. Frywall’s net worth is not avoidable anywhere but it is estimated to be 5 times more than its valuation since its appearance on the Shark Tank show.

Is Frywall Still in Business?

Frywall is still surviving in the market and performing very well in the area of splatter guard. The revenue and valuation of Frywall have increased so far up to 5 to 6 times since its inception. Frywall also sold its product in the global market and entered into overseas operations.

Frywall Social links:

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FAQs:

What is Frywall?

Frywall is introduced as a “Silicone-based cone-shaped Splatter Guard” which helps people to prevent the splitting of hot oil all over the cooktop when they cook.

Who founded Frywall?

Frywall is founded and developed by a young entrepreneur and a home chef, “Yair Rainer”. He loves cooking food in his own kitchen but hates to clean all the splits of oil that stick over the cooktop and burner.

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