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ScreenMend Shark Tank Update

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Is there broken glass in sight and the window has holes -We need a fix-it solution for this minute but significant problem. Presenting the first every fixer upper for windows-Screenmend– It is a sheet of material that is perfect to mend your door and windows. 

The idea for this product came to the founders Brian hook and his two daughters Lily and Emma. They started to use their product in their own backyard and found the result worth it and planned on converting it into a business.

ScreenMend at a glance:

Business ideaAffordable sheet of material that allows you to fix the doors and windows of the house.
FounderBrian Lily and Emma Hooks
Asked for$30,000 for 25%
Accepted deal$30,000 for 50%
SharksLori Greiner
Business statusIn business
EpisodeSeason 5 Episode 4
Buy on AmazonBuy Now!
Screenmend at a glance.

Index:

Founder Story:

The three founders of this product were working in their courtyard when they noticed small holes that needed to be mended. The nine-year-old innovator was on the task of finding a material that would help stick the patch of material. She was rubbing some wax against the table when she found out how this could help. This helped them create the product.

The patches of Screenmend are now on their windows and have survived a harsh hurricane recently. They started to use their product in their own backyard and found the result worth it and planned on converting it into a business.

Did ScreenMend get a deal on SharkTank?

The two adolescents and their father came to SharkTank seeking an investment of $30,000 for 25%. They started off by saying the reason why they came up with the idea. Then comes the demo of the product. They have sold 750 units of Screenmend to date. The manufacturing occurs in the garage. They have made the product by dipping it in wax rather than using an adhesive.

The product has a provisional patent but not a utility patent. The company has 3-4 competitors but none of their products exactly match Screenmend. The company has interesting margins as the shark finds out about the manufacturing and selling price of Screenmend.

Daymond, Kevin, and Robert go out simultaneously as they feel they cannot give time to the business. Mark wants his kids to build their business acumen, therefore he offers them $ 30,000 for 25%. Lori believes she can help the product increase in sales.  She offers $ 30,000 for 50%. The family wants to discuss. After the discussion, they agree with Lori’s offer and hug on the deal. The deal with Lori of $30,000 for 50% of the business is sealed.

See also  Vestpakz Shark Tank Update

What happened to ScreenMend after SharkTank?

The company and its founders have seen and made the event of their future more. Let us find out how. After Screenmend reached SharkTank and bagged a deal with Lori. The shark turned the tables for the company and the Hookes family. She sold the product on QVC and got sold out in a week, generating sales of $ 900,000. The family has created their own website and also sells the product on amazon.

The help from Lori helped them get into stores like Bath and beyond, Home Depot, Lowes, and ACE hardware. This was possible by changing the packaging of the product and adding an adhesive rather than wax on the back of the patch. Today the girls have graduated and are successful in fulfilling their dreams. Lily is now the president of the business and Emma is pursuing acting. As of today, the company is seeing an annual sale of $5 million.  

Product details:

  • The patch is available in two colors namely: Charcoal black and Silver Grey.
  • The product is available in two forms: roll and sheets.
  • The screenMend retails for $ 6.99 the sheets and the roll for $ 9.99 and the cost for making it is $ 0.84.
  • It sells on amazon and its website.
  • The company uses social media platforms to promote and sell its product.

What is the net worth of ScreenMend?

The company after airing on SharkTank and getting a deal from Lori had a valuation of $60,000. Today the sales for the company have phenomenally increased from $4000 to $900,000

Is ScreenMend still in business?

The ScreenMend company has got well on its way in terms of sales after the mentor and shark Lori helped them tweak their product with a better utility. The sales are increasing and the small problem has been seen in many homes around the country. The customers love the product and get more for an affordable price.

The company wants to grow even further and believes that this product will have sustainable growth compared to its competitors. The product is working well and solving the minute and negligible problems that can cause significant problems in the future. This is done with a ScreenMend patch!!

ScreenMend Social Links:

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FAQs:

What is ScreenMend?

ScreenMend is an affordable sheet of material that allows you to fix the doors and windows of the house.

Who founded ScreenMend?

The idea for this product came to the founders Brian hook and his two daughters Lily and Emma. They started to use their product in their own backyard and found the result worth it and planned on converting it into a business.

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