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Fuzapper Shark Tank Update

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Fuzapper is a product that is designed and developed to solve a major problem of every pet owner of removing pet hairs and furs from clothes, as pets’ hairs are sticks inside the clothes that was very hard to remove.

That’s why Fuzapper was invented, it is a very simple product that was put’s inside the washing machines along with the clothes. It removes all the hairs and furs during washing cycles and gives you fur-free clean dresses.

Fuzapper at a glance

EpisodeSeason-12, Episode-20.
Business IdeaPets-Hair-Remover-from-Clothes.
FoundersHarry Levin and Michael Sweigart.
Asked For$600,000 for 10% of equity.
Accepted Deal$600,000 for 15% of equity.
SharksLori Greiner.
Business StatusIn Business.
WebsiteFuzapper
Buy on AmazonBuy Now!

Index:

Founder Story:

Fuzapper was invented and developed by two old men that is Harry Levin and Michael Sweigart. they have invented and developed only pet hair remover and got their patents. They both are from New Jersey.

Michael was a household dad that takes care of their children and their pets too from 15 to 20 years. He finds it difficult to remove the furs and hairs of their pets from their clothes. They worked in a special effect industry as a hobby and they have a sample of silicon zombie masks that was accidentally dropped down by them and their pets started playing with them, they sawed that all her pet’s hairs are gets stuck into their silicon mask. That accident gives them the idea to develop a silicon-based product to remove pets’ hairs. That’s how they founded Fuzapper.

Harry was a professional lawyer serving for over 40 years in this profession. Harry and Michael were members of the same Business Group and Harry has a lean interest in Animal Welfare. They worked together and started manufacturing and selling them.

Did Fuzapper get a deal on Shark Tank?

Fuzapper is introduced as a pet’s hairs and furs remover from clothes during washing in ABC’s famous reality show Shark Tank in Season-12 and Episode-20. Owners represented their product and delivers a very interesting pitch about that as they explains that their product is the only kind of product that is developed to remove pets’ hairs during washing cycles and also explains their specifications as they are made up of silicon materials that helps them to stuck hairs with them. They have designed them and get all their necessary patent rights.

They also provides their samples to Sharks and asked for an investment of $600,000 in exchange for 10% of their company’s equity.

Sharks found products interesting but don’t show any interest unless they explain their sales In their first year of business they made sales of over $640,000. In the year before the show, they made over $2.2 Million in Sales. Currently, they have a net profit of $560,000. As they estimated their sales of the current year (the year in which they appear in the show) as $5 Million they already made over $4 Million till they appear in the show.

They firstly deal with “Walmart”. They made available their products in every single Walmart store in the country. A pack of 2 Fuzappers is sold at $14.99, which costs him to manufacture is a nickles. Before Shark Tank, they also appear on QBC’s Show.

Sharks love their valuations and want to invest in their business Kevin O’ Leary asked him what did they do with the investment amount, they told him that they want money to outsource their manufacturing as they have patents in the USA, Canada, China, and all the European Union Countries. They wanted to set up an in-house production that saves them up to $2 per unit of cost and wants them to invest in American Jobs.

See also  Dare-U-Go: What Happened After Shark Tank?

Sharks love their products, their valuations, and their vision. Kevin initially offers them $600,000 as debts at 9.5% for 3 years along with 5% of equity. Barbara also offers them an investment of $600,000 for 20% of equity. Later Lori offers them $600,000 but for 19.9$ of equity. Marks also offers them $600,000 but at a very lean percentage of 15% of equity. Later Lori also matched Mark’s offer but they wants their confirmation right away.

Barbara offers them an investment of $1.2 Million in exchange for 15%, as they have vast options of different offers. They asked Lori that they take their offers if they undertake that they give them $600,000 for 15% of equity and a statement to allow them additional funds in the future whenever they needed. Lori accepted their undertakings and deal with them. Here they get a deal in Show.

What happened to Fuzapper after Shark Tank?

After the show, it receives a massive hike in its sales and its sales increased very sharply. After a few months of their operations, they collaborated with various online and offline platforms like Amazon, Ace Hardware, Chewy, Peatlands, etc.

They slowly expanded in various other regions outside their country like Canada and China. It receives several awards and comes first in ECRM Buyers Choice Awards. In the year 2020, they introduced some other products such as Caps and T-Shirts along with their logo on them and a pet product as “Fuzapper Pets Grooming Gloves”. Recently they started shipping their products worldwide and started their operations in Japan. Fuzapper has initially valued at $4.2 Million at the time of its Shark Tank appearance after that it affected a major market and grew very sharply. Today its Revenue is estimated over $5 Million to $7 Million annually.

Competitors of Fuzapper

Fuzapper is its kind product that is available in the market but various other brands make a kind similar products as them that are:-

  • Gunzo Pet Hair Lifter.
  • OXO Furlifter.
  • ChomChom Roller.
  • Smart Sheep Dryer Balls.
  • Sweepa Rubber Brush. etc.

Net Worth of Fuzapper

Fuzapper has initially valued at $4.2 Million at the time of its Shark Tank appearance after that it affected a major market and grew very sharply. Today its Revenue is estimated over $5 Million to $7 Million annually.

Is Fuzapper is Still in Business?

Fuzapper is still in business and becomes a major player in their area. As they started selling their products in various markets of the world.

Fuzapper Social links:

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FAQs:

What is Fuzapper?

Fuzapper is a product that is designed and developed to solve a major problem of every pet owner of removing pet hairs and furs from clothes, as pets’ hairs are sticks inside the clothes that was very hard to remove.

Who founded Fuzapper?

Fuzapper was invented and developed by two old men that is Harry Levin and Michael Sweigart. they have invented and developed only pet hair remover and got their patents. They both are from New Jersey.

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