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Kit Lender Shark Tank Update

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Playing in the snow is the dream of everyone and achieving that dream is no longer a bigger battle as Kit Lender is there to make you enjoy yourself in the snow through skiing. Kit Lender is a ski-based manufacturing business. Kit Lender is a rental industry that provides outdoor gear for skiing, it’s clothing and shocks.

The kit lender along with ski equipment serves everything for men, women, and kids: clothing, gloves, boots, jackets, and ski pants, along with underwear and shocks which you have to buy. Kit Lender plans your perfect holiday in the snow, place an order, and then the equipment will be delivered to your ski lodge after your game. You can easily transfer it back. The Kit Lender is a very comfortable and convenient option for people who love to play sports like skiing, snowboarding, and hiking.

Kit Lender at a Glance:-

IdeaSki and snowboard rental clothes – jacket, pants, goggles, and gloves
FoundersForrest Shinners
Asked For$200,000 For 7%
Accepted DealNo deal
SharksNo offer
Business statusIn Business
Episode No.Season 11, Episode 9
WebsiteKit Lender

Index:

Who are the founders of Kit Lender?

Forrest Shinners is the founder of a great ski product manufacturing business: Kit Lender. Forrest’s parents used to have a ski store and, since his childhood, he has always had the latest gear in his hands. When he came to New York after college, his friends were not ready to go on more ski trips as it was quite expensive, as it could cost up to $200 for tickets plus clothing and a place to stay.

Forrest offered them to stay at his house and also provided them with skis and clothes to rent from where the idea of Kit Lender came, In 2014, Kit Lender was finally launched into the market. Forrest has a vision of going into campaign gear too and expanding his business to the next level.

Did Kit Lender get a deal on the Shark Tank?

Shinner’s founder, Kit Lender, came to the shark tank seeking an investment of $200,000 in exchange for 7% equity in his business. They started their pitch by demonstrating the product and telling the story about how they made it up. After the demonstration, all the sharks were very impressed with the product and Forrest. Forrest shared the sales figures that they had sales of $750,000 in 2019.

Even after getting positive reviews from sharks, he couldn’t make it through. All the sharks felt that Kit Lender would require a huge amount of inventory to run the business smoothly. Lori Greiner was first to leave the pitch. Later, Mark Cuban went out as he did not agree to invest his money. Barbara and Kevin were next to get off the pitch as they didn’t feel that they would be able to help him in any segment.

Robert Herjavec also moved out as he felt the same as other sharks. All the sharks wished the best of luck and great success to Forrest. Kit Lender received no offer on the table, so he went out with no deal in hand for the show.

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What happened to Kit Lender after Shark Tank?

After the show, getting no deal hasn’t changed anything for Kit Lender, but their appearance on the show created traffic of 25,000 new users on their website on the same night the show aired. Since Kit Lender never looked backward. Forrest gave his 100% to make it stable and he did it. Forrest shared that he had seen a sales improvement every year and followed that legacy.

During the pitch, Forrest demanded a valuation of $2,857,142.8 but, Kit Lender was not able to take the investment out of the sharks’ pockets. The kit Lender earlier used to rent: ski gear, gloves, jackets, ski pants, boots, underwear, and shocks have added camping gear and hiking gear. The kit Lender charges $30- $50 per day depending upon the gear and wearable you have selected.

Kit Lender has its Facebook page along with its website. They operate and take orders through it. Kit Lender shelter kit for 4 people costs $120 per day, Hammock Lounge kit costs $26 per day, Backpacking plus hiking pole kit costs $94 per day, people’s specialty kit for $13/day, Backpacking kit for 2 people costs $88/day and Car Camping kit costs $105/day. As of July 2021, they have been flaunting this segment since their appearance in a shark tank.

Competitors of Kit Lender

The major competitors present in the market against Kit Lender are:-

  • Burton
  • Store your Board
  • Peter Glenn
  • Glisshop
  • Surfanic
  • Kulkea

What is the net worth of the Kit Lender?

The valuation on the pitch for Kit Lender was $2,857,142.8 and goes out of the pitch with no deal in hand. The estimated annual revenue of the business is $ 1 million. Kit Lender is doing great in sales and customer addition, which is a booster to its net worth.

Is Kit Lender still in business?

Kit Lender is still in operation as their website has various new customers in addition and positive reviews about it. The Kit Lender is an effective medium to fulfill the ski sports dream of everyone. As of 2022, they are running smoothly in the market and giving huge competition to their competitors. Bizz Bucket wishes great success to Kit Lender and Forrest Shinners.

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FAQs:

What is Kit Lender?

Playing in the snow is the dream of everyone and achieving that dream is no longer a bigger battle as Kit Lender is there to make you enjoy yourself in the snow through skiing. Kit Lender is a ski-based manufacturing business. Kit Lender is a rental industry that provides outdoor gear for skiing, it’s clothing and shocks.

Who founded Kit Lender?

Forrest Shinners is the founder of a great ski product manufacturing business: Kit Lender. Forrest’s parents used to have a ski store and, since his childhood, he has always had the latest gear in his hands. When he came to New York after college, his friends were not ready to go on more ski trips as it was quite expensive, as it could cost up to $200 for tickets plus clothing and a place to stay.

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