RESULT: DEAL with Lori for $200K for 10%
The Paint Brush Cover Shark Tank Update
The Paint Brush Coverbasically protects paint brushes so they last longer. With its air tight seal, it protects bristles from damage and keeps the shape of the bristles. You can also store your brushes wet, when you need to knock off the painting for a few hours. Sincethe Paint Brush Coversaves clean-up, it saves paint, time, and cleaning solutions – so it ultimately saves you money. Most paint brushes fit inthe Paint Brush Cover, so it pretty much covers all your paint brush storage needs.
The guys started looking for solutions to storing paint brushes a little over two years ago and got their first prototype in November of 2011. Their first production run was complete in early July, 2012 and they made their first wholesale store placement in a Freehold, NJ Benjamin Moore store just a few days later. Since that time, the guys have been sellingthe Paint Brush Coverto local Ace Hardware Stores and other mom and pop hardware and paint stores. They recently scored a deal to stock the product in all 27 Aboff’s Paints stores in Long Island, NY.
My Take on the Paint Brush Cover
I painted houses one summer in college and I painted the exterior of two houses I lived in. I also painted the entire interior of our current home – some rooms several times! In fact, my wife has been bugging me to “freshen up” a couple of rooms lately. I do my fair share of painting and I shudder to think how much I spent on paint brushes over the years.
In the past, I’d wrap my paint brushes in newspaper when I was done with them. When I go to use them next, they are invariably stiff and new brushes get bought along with the new paint. At anywhere from $5-$15 for a decent paint brush, it can add up when you do a lot of painting. If I could spend $13 (the cost of three Paint Brush Covers) to make my brushes last, I’d probably do it.
Professional painters will love this product. They paint every day and spend a small fortune on brushes yearly. A product that makes brushes last 5 times longer saves money. Spending less clean-up time has value, too; after all, time IS money.
Do the Sharks Paint the town Green?
I’m guessingthe Paint Brush CoverGuys are looking for help getting into the Big Box stores. Any of the Sharks can help with that. They probably need som PO financing, too. I don’t think this is up Barbara’s alley, but Lori might like the “demonstrability” of the product enough to put it onQVC. Robert touts his big box connections a lot, so he might offer too. I am as sick of predicting Mr. Wonderful’s royalty offers as I am hearing him make them, but this product will yield one from him! Mark might go for it too, if the guys show him they have the right stuff. I expect multiple offers from the Sharks. I’m “IN” too with a three pack of Paint Brush Covers!
Shark Tank Blog will follow up after the update.
In the episode 622 update, they reveal Lori gotPaint Brush coverinto 2000 Home Depot Stores. She changed the packaging and helped them get into “everywhere they need to be.”The Paint Brush Coveris in over 14,000 stores, did $2.5 million in sales, and they’re introducing a roller cover.Paint Brush coveris painting the town GREEN!
A more detailed and recent update can be found on theBeyond the Tank Episode 106page.
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