Key Takeaways: Sheets Laundry Club on Shark Tank

  • Eco-Friendly Mission: Founded to combat single-use plastics with plastic-free laundry products.
  • Rapid Growth: Achieved $7 million in lifetime sales since launching in 2020.
  • Strategic Investment: Secured $500,000 from Daniel Lubetzky for 8% equity and 2% advisory shares.
  • Exclusivity Agreement: Must capture the market before their agreement with Kimberly Clark expires in 2024.
  • Health Impact Motivation: Co-founder Chris Videau’s health issues from burning plastic spurred the company’s creation.

Sheets Laundry Club: Company Overview

After spending 20 years in the Army as a helicopter pilot, Chris Videau was able to see first-hand how single-use plastics have created a global crisis.

Not only could Chris physically see how much discarded plastic there was in landfills and in nature, but he also suffered health consequences as a result of trash and plastic burning while he was a pilot.

Because the fumes from burning plastics rise, his lungs were greatly impacted by the air quality issues he experienced in his time as a pilot.

Knowing he needed to help make a change, Chris partnered with his friend, Chris Campbell, and created Sheets Laundry Club.

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The Problem Sheets Laundry Club Solves

By targeting one of the worst offenders of single-use packaging, the laundry industry, Sheets Laundry Club has created a suite of plastic-free cleaning products to begin changing the way Americans launder their clothes.

More convenient than liquids and powders, easier to ship, and far better for the planet than mainstream alternatives, the pair’s plastic-free detergent sheets can simply be thrown in the washing machine with a load of laundry.

Their product leaves linens fresh and clean without any of the plastic waste that is left behind with traditional laundry detergents.

Sheets Laundry Club has also expanded into other cleaning products as well, all with one goal in mind: reducing the amount of single-use plastic containers in our landfills.

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How Did Sheets Laundry Club Perform So Far?

Since launching in January of 2020, Sheets Laundry Club is on track to close 2021 with $7,000,000 in lifetime sales.

Although their domestic sales have been impressive, they are looking to expand into the global market to have a larger impact on their mission.

They need a Shark that is willing to help them expand, while working within the confines of their exclusivity agreement with Kimberly Clark.

Because Sheets Laundry Club does not own the technology used to make their product, they need to expand and capture the detergent sheets market before their exclusivity agreement expires in 2024.

What the Sharks Thought About the Product

The pair is looking for a Shark willing to invest $500,000 in exchange for 5% equity in Sheets Laundry Club.

The Sharks are impressed with their mission and their sales. Guest Shark, Daniel Lubetzky, feels particularly passionate about their mission and believes that he can help them grow globally since he is already in the sustainable space.

Daniel agrees to invest $500,000 in Sheets Laundry Club in exchange for 8% equity and 2% in advisory shares. Chris and Chris are excited to have a Shark investment partner who is so knowledgeable in this industry.

Over to You

Would you purchase products from Sheets Laundry Club?

Do you think that Daniel is taking a risk on their company since they do not own the patent to the product they are selling? If you were a Shark, would you invest in Sheets Laundry Club? Start the conversation in the comments below!

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