Pet owners are aware of the difficulties in managing pet hair. Pet hair can be a constant problem, whether it sticks to clothing, furniture, or even becomes stuck in the washing machine. The majority of traditional techniques, such as vacuums and lint rollers, only solve part of the problem and frequently leave behind fur remains.
FurZapper is a straightforward yet inventive device made to address this common issue. Two businessmen named Harry Levin and Michael Sweigar founded FurZapper with the goal of making pet owners’ lives simpler. You may throw the silicone pet hair remover into your washing machine and dryer. The FurZapper efficiently removes pet hair from your clothing as it goes through its cycles, directing it into the lint trap rather than onto your clothing.
In order to grow their business and create more jobs in the United States, Levin and Sweigar wanted to get a deal when they came on Shark Tank. They asked $600,000 in exchange for 10% equity. Did the entrepreneur get a deal on Shark Tank? Check out our FurZapper update to find out!
furZapper net worth 2024
Harry Levin and Michael Sweigar asked for a $600k investment in exchange for 10% equity in their company, FurZapper. This meant they valued their company at $6 million. They made a deal with Lori Greiner for $600k in exchange for 15% of their company.
This new deal valued FurZapper at $4 million. After the show aired, FurZapper saw a big increase in website traffic, sales, and social media exposure. With an estimated 20% yearly growth rate (typical business growth), the current net worth of FurZapper in 2024 is about $10 million.
FurZapper Shark Tank Update
As for a FurZapper update, it experienced significant growth and prosperity. Lori Greiner made the deal of $600,000 for a 15% stock investment in the FurZapper and an extra line of credit. FurZapper was able to increase its presence in physical stores and online thanks to this relationship. In 2023, sales exceeded $5 million annually, and the FurZapper is still doing well today.
FurZapper has grown in popularity, particularly on Amazon, where it has received close to 50,000 favorable reviews. The business has also added new products to its lineups, such as the LintZapper and the FurZapper Glove, all of which have received positive feedback from clients. FurZapper is currently extensively accessible, both online and at large-scale retail establishments.
Yes, FurZapper was able to close a deal on Shark Tank. Harry Levin and Michael Sweigar, the founders, first requested $600,000 in exchange for 10% ownership. They finally accepted Lori Greiner’s offer of $600,000 for 15% equity and an additional line of credit to boost their business expansion.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Greiner | 1# $600,000 for 19.99% equity 2# $600,000 for 15% equity + additional fund | N/A | Yes |
| Barbara Corcoran | 1# $600,000 for 20% equity 2# $600,000 for 15% + $600,000 line of credit | N/A | No |
| Kevin O’Leary | 1# $600,000 as a loan for 9.5% interest, plus 5% equity 2# $600,000 for 20% equity | N/A | No |
| Kendra Scott | Out | N/A | N/A |
| Mark Cuban | $600,000 for 15% equity | N/A | No |
FurZapper Shark Tank Pitch
Michael Sweigar and Harry Levin teamed up because they both had a passion for finding solutions to common issues that pet owners faced. Michael, an animal enthusiast, found by chance that pet hair could be successfully removed from laundry using silicone. Acknowledging the potential of this discovery, he joined forces with fellow animal welfare advocate and lawyer Harry Levin to develop this idea into a business.
Finding the ideal design and material to utilize in dryers and washing machines that would be both efficient and safe was one of the many difficulties they encountered in the beginning. After a lot of trial and error, they created the FurZapper, a reusable, non-toxic silicone pet hair remover that attracted notice right away for its ease of use and effectiveness.
With a sense of confidence, Harry and Michael introduced FurZapper to the Shark Tank audience, highlighting its special capacity to remove pet hair from clothes as they are being washed and dried. They described the product’s safety, environmental friendliness, and American manufacturing.
The founders wanted to create a manufacturing facility in the United States to reduce their dependence on foreign production, thus they were looking for $600,000 for 10% equity.
They revealed their remarkable sales numbers, showing that they made $640,000 in sales in 2018 and $2.2 million in sales in 2019. At the time of filming, FurZappers were expected to sell for over $4 million, and every Walmart in the nation carried the product. Keep reading our FurZapper update to see what happens next!
The Sharks asked several questions concerning FurZapper during the pitch.
Kevin O’Leary enquired about their sales and profit margins. Michael revealed that till now they made $2.2 million in sales and will do over $4 million this year.
Barbara Corcoran asked about the selling price. They revealed that their best-selling item, a two-pack, sells for $14.99, has a 71% margin, and only costs $0.05 to bring in a new customer.
Mark Cuban asked where they sell their products. The entrepreneurs responded their first deal was Walmart and the product is available at every Walmart store. They also added that they have a 71% profit margin on every two-pack sale.
Mark further asked about what they do with the money they earn from the business. The founders explained that instead of outsourcing manufacturing which is very expensive, they do it in their country. So they use some of the money to do manufacturing closer to them. This also gives jobs and allows them to produce in the US.
Lori Greiner was interested in learning more about the product’s potential as a market. According to Harry and Michael, the FurZapper is popular among pet owners and has received thousands of favorable online reviews. It may be used on any kind of fabric.
The product’s simplicity and sales figures attracted the Sharks, who made several offers.
Kevin O’Leary has the option of two offers. A $600,000 loan for three years with 5% equity and 9.5% interest and a second offer of $600,000 for 20% equity.
Barbara Corcoran made an offer of $600,000 for 20% stock.
Mark Cuban stated that he thought the concept had potential and offered $600,000 for 15% stock.
In addition, Lori Greiner offered a $600,000 deal for 19.99% equity. She made another offer with 15% equity.
Kendra Scott chose not to offer because she thinks that the founders have better options than her for their business.
In the end, the founders decided that Lori would be the most suitable for FurZapper because of her background in related products and her dedication to offering more assistance. They agreed to accept the promised line of credit and her offer of $600,000 for 15% equity.
Product Availability
From our FurZapper update research, as of today, FurZapper can be bought on Amazon, where it has gathered thousands of good ratings. It is also available to a wide range of consumers as it is sold at large department shops like Walmart. In order to satisfy a variety of demands and tastes, the FurZapper has even increased the range of products it offers with additions such as the LintZapper and the FurZapper Glove.
Conclusion
The story of FurZapper on Shark Tank is an excellent example of how a straightforward concept can develop into a profitable business. Harry Levin and Michael Sweigar were able to develop a product that connected with customers and attracted the Sharks by addressing a problem that many pet owners faced. They scaled their business and achieved new heights as a result of their wise decision to collaborate with Lori Greiner.
FurZapper has developed into a multi-million dollar business with loyal customers since going on the show. The founders’ dedication to extending their product line and transferring manufacturing to the United States shows that they are actively attempting to establish a long-lasting brand rather than simply sitting on their achievements.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
