Back pain has become a huge problem for people across the world. Not only the elderly, but even the young people suffer from it. But to solve this huge problem, Lifter Hamper comes to the rescue.
While doing laundry, one doesn’t have to bend down and put strain over their back. Lifter Hamper makes hampers that are spring-loaded; it goes down when one is putting clothes in the hamper and comes back up when the clothes are taken out. It was invented to reduce the number of people suffering from back pain issues.
Lifter Hamper at a glance:
|Business Idea||Laundry bag with spring as a Solution of Back Pain|
|Asked For||$85,000 For 12%|
|Accepted Deal||No Deal|
|Business status||Not in Business|
Who is the founder of Lifter Hamper?
Marvin Phillip, a famous NFL star, is the founder of Lifter Hamper. In 2008, he suffered from a back injury that put a pause to his career. He decided to help in household chores. He wanted to make laundry easier and thus, he invented Lifter Hamper.
Did Lifter Hamper get a deal on Shark Tank?
In season 4 episode 4 of Shark Tank, Marvin came looking for some help in financing as well as distribution. He pitched for $85,000 for 12% equity in business, making the valuation $708,000. Lori Greiner showed some interest in the product whereas Kevin O’Leary was not fine with valuation and thus, he was out.
Mark Cuban liked the product’s idea as well but he didn’t find himself to be the right partner for Marvin and therefore, he was out too. Robert Herjavec found it too early for the company to need an investment, he was out and Daymond John was out too. The only shark left was Lori, who found numerous limitations of the product. She found the wheels to be ineffective and little.
She was not convinced to invest just yet but told Marvin to contact her in the future when he has moved forward with the company. Marvin didn’t get a deal on Shark Tank and left the show.
Where is Lifter Hamper now?
Even though Lifter Hamper didn’t get a deal on the show, the exposure Lifter Hamper got because of the show was great. They did a IndieGoGo campaign and raised more than $16,000. The products were available on the official website and Amazon. In 2015, the company was licensed to a retailer that sells household items online, Household Essentials but as of December 2021, Lifter Hamper’s products seem out of business.
Competitors of Lifter Hamper
The competitor of Lifter Hamper, that made Lifter Hamper work harder, was The Standing Laundry Hamper.
What is the net worth of Lifter Hamper?
During the Shark Tank pitch, Lifter Hamper was valued at $708,000 but the net worth is not available now because it is not in business.
Is Lifter Hamper still in business?
Lifter Hamper had to face lots of downs but it was all worth because the product became popular among the customers. Lifter Hamper was also available on Amazon but as of 2021, their website has been down and they appear to be out of business.
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What is Lifter Hamper?
Lifter Hamper makes hampers that are spring-loaded; it goes down when one is putting clothes in the hamper and comes back up when the clothes are taken out.
Who founded Lifter Hamper?
Marvin Phillip, a famous NFL star, is the founder of Lifter Hamper. In 2008, he suffered from a back injury that put a pause to his career.