Up next is Bryce Hudson of Grip Clean seeking $85,000 for 20 percent equity.
Hoping to “recv up” the sharks, Hudson enters complete with motocross bike and dirty hands. The industrial soap product uses dirt–yes, dirt–to clean grease off hands.
Robert Herjavec gives it the hands-on treatment and says it works very well. He cites Grease Monkey, a previously invested product by him and Barbara Corcoran, and says consumers didn’t “care enough” about the product.
He manufactures the product from his garage, which is a major problem as far as production.
Key Takeaways: Grip Clean on Shark Tank
- Grip Clean is an industrial soap that uses dirt to clean grease off hands, aiming to attract consumers with its natural ingredients.
- Lori Greiner invested $85,000 for 35% equity, despite concerns over production capacity and market demand.
- The founder’s commitment to manufacturing the product himself initially puzzled the Sharks, but Lori saw potential in the natural product niche.
Latest Update: Grip Clean has expanded its production capabilities and grown its customer base, particularly among industrial and DIY markets, with Lori Greiner’s strategic support.
I would love to see #GripClean get a deal so they can Increase production so cost to make is cheaper and larger is profit. #SharkTank
— Keisha L Rondeno, CPA (@CPA_Keisha) November 14, 2015
The Shark Wash Their Hands with Deals
Herjavec goes out because of his previous experience with Grease Monkey, saying maybe he knows “too much.”
Mark Cuban doesn’t see it as a company yet and goes out. Daymond John likes the product and thinks he should sell it online, but does not believe he needs an investor. He goes out.
Kevin O’Leary wonders about his production needs, which he is more than happy to continue producing himself. That puzzles the sharks and he tells them manufacturers didn’t want the dirt.
O’Leary goes out for its lack of substance. Greiner worries about the fact that no one wants to manufacture it, however, likes that its natural. She offers $85,000 for 35 percent, which he accepts.
From Working out of your garage in a bucket to getting @LoriGreiner as a partner I think he'll do fine congrats #GripClean #SharkTank
— Scott Stuart 2K (@ScottStuart2K) November 14, 2015
Final deal: Lori Greiner for $85,000 for 35 percent.