Are you a business owner and want to end your hassle of finding human twirlers? Or are you looking for an interesting yet simple way of attracting the customer’s attention?
Velocity Signs is here with the most unique way that can attract customer attention, with their mechanical sign twirlers and they are here to stay!
Velocity Signs at a Glance:
| Idea | Sign-waving machine manufacturer |
| Founders | Scott Adams and Josh Faherty |
| Asked For | $225,000 for 15% |
| Accepted Deal | $225,000 for 30% |
| Sharks | Mark Cuban, Robert Herjavec, and Kevin O’Leary |
| Business status | Out of Business |
| Episode No. | Season 5, Episode 19 |
Index:
What is Velocity Signs?
Velocity Signs is a sign-waving machine manufacturer based in Sacramento, California. They produce battery-operated, portable, rechargeable, and durable sign-waving machines. The product is designed to replace the human twirlers that small businesses have to use due to a lack of funds.
The product is 100% made in the USA and the founders have patented the design. It saves the hassle of recruiting, hiring, and paying to extra labor functioning as human twirlers. It also helps in efficient cost-cutting for small and upcoming businesses.
Founder Story:
The founders of the company, created these mechanical twirlers after they saw a human sign twirler outside a store, drenched in sweat on a hot summer day. The suffering of that man gave them the inspiration to make an alternative that would even be affordable to growing businesses.
The product aimed at solving a real-life problem of human twirlers standing in the harsh atmosphere for long hours and automated the process, making it much easier and simpler.
Did Velocity Signs get a deal on Shark Tank?
Scott and Josh entered the tank with their company, Velocity Signs, and presented their unique idea to the sharks. Initially, all the sharks seemed dicey on investment due to various reasons such as insufficient profits, lack of market space, and availability of other options.
Later, when Lori decided to make an offer of $225,000 for 30% equity, then Mark and Kevin were also intrigued by it. They wanted to split the deal but ended up having a huge argument and eventually, all of the sharks had to pitch whose network was strong enough to back the deal.
Scott and Josh then decided to take up the offer of $225,000 for 30% equity with Sharks Mark, Kevin, and Robert.
What happened to Velocity Signs after Shark Tank?
Under the guidance of all three sharks, velocity signs started busting the charts rapidly. With the expertise of these three sharks as investors, they were able to modify the product’s design making it more robust and lightweight.
Barbara, another shark mentor during their pitch advised them to expand into real estate and they did just that.
However, despite the success of their venture, the company abruptly stopped functioning in 2019.
Product Details :
- Velocity Signs manufacture Mechanical twirlers used to attract customer attention.
- This alternative to human twirlers solves a lot of problems for small-scale businesses and are one of the best utility options in the market.
- They also manufacture mannequin twirlers on demand.
- The company also offers the facility to customize the signs fully according to their own purpose.
- The design of the twirlers is very eye-catching.
- They also had features like LED lights to improve visibility and programmable sign movement patterns.
What is the Net Worth of Velocity Signs?
Before coming to Shark Tank, the company had been selling around 125 units a year, and among their clients was Little Caesars, their top client. The founders went with an offer of $225,000 for 30% equity, valuing them at $750k.
After Shark Tank, the company gained immense popularity as well as new and famous clients like – Subway, Burger King, Chevrolet, and Ford. Despite this, the company is now out of business and hence its net worth cannot be estimated.
Who are the competitors of Velocity Signs?
The main competitors of Velocity Signs are as follows: CNS IT, IPSUM Technology, ABM, and Sidif among others.
Is Velocity Signs still in Business?
No, the Velocity Signs are no more in business. Though it was one of its kind product and garnered a lot of eyes towards itself yet it could unfortunately not bear with the marketplace pressure and the company hence, fizzled out.
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FAQs:
What is Velocity Signs?
Velocity signs are Sign-waving machine manufacturers. They produce battery-operated, portable, rechargeable, and durable sign-waving machines. The product is designed to replace the human twirlers that small businesses have to use due to lack of funds.
What's the net worth of Velocity Signs?
Before coming to Shark Tank, the company had been selling around 125 units a year, and among their clients was Little Caesars, their top client. The founders went with an offer of $225,000 for 30% equity, valuing them at $750k.
