Although ski equipment can be highly costly, skiing is an enjoyable activity. Gloves, goggles, jackets, and pants are expensive. A lot of folks only go skiing once or twice a year. This indicates that they don’t use the equipment frequently enough to justify its purchase. Forrest Shinners recognized this issue. His goal was to save people money.
Thus Kit Lender was founded by him. Ski equipment can be rented from Kit Lender rather than purchased. In Season 11 Forrest came to Shark Tank with an idea. He requested $200,000 for a 7% stake in his business. Will the entrepreneur get a deal on Shark Tank? Check out the Kit Lender update!
kit lender Net Worth Shark Tank Update 2025
Forrest Shinners asked for a $200,000 investment in exchange for 7% equity in his company. This meant he valued his company at $2.86 million. However, he left Shark Tank without a deal as none of the sharks made an offer. After the show aired, Kit Lender saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Kit Lender is about $4.12 million.
After making its appearance on Shark Tank, Kit Lender is still operating. The business is prospering. As of 2024, Kit Lender’s annual revenue is approximately $2.8 million. The business now offers more than just skiing gear rentals. They now hire equipment for swimming, hiking, camping, and other activities.
Kit Lender has collaborated with major brands such as Bombas and Yeti The North Face. The business is still expanding. Renting equipment rather than purchasing it is a popular option. Anyone looking to enjoy outdoor sports without breaking the bank can choose Kit Lender.
No, on Shark Tank, Kit Lender did not land a deal. Forrest Shinners requested $200,000 from the sharks in return for a 7% stake in his business. Despite their admiration for the concept none of the sharks were interested in investing.
The first person to leave was Lori Greiner. The thought of handling that much inventory wasn’t appealing to her. Mark Cuban left as well. He believed Kit Lender would require too much funding to continue expanding. Ultimately Forrest left without a deal since none of the sharks made an offer.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Kit Lender Shark Tank pitch
Forrest Shinners was an enthusiastic skier. In Vermont, where his family ran a ski shop, he spent his childhood skiing. After moving to New York City Forrest would ask friends to join him on a skiing trip. His friends meanwhile lacked ski equipment. For equipment, they would only use it once they did not want to invest a lot of money.
Forrest believed that gear rental could be a profitable one. Kit Lender was born in this way. He aimed to make skiing more affordable while maintaining enjoyment. The company’s early years were difficult. Forrest had to learn how to manage it in order to keep a lot of equipment in good condition for each rental.
During Season 11, Forrest made a pitch to Kit Lender on Shark Tank. He clarified that a lot of individuals only ski a few times a year and that ski equipment is costly. Instead of purchasing the equipment they require, Kit Lender allows users to borrow it. Consumers can get the necessary equipment online and have it delivered to their residences or lodgings.
They use a prepaid mailer to return the equipment after they have finished skiing. According to Forrest adult ski kits range in price from $30 to $44 a day while children’s kits cost between $18 and $22. In the year prior to the show Kit Lender earned $755,000. Forrest requested $200000 in return for a 7% stake in his company.
The sharks had a lot of inquiries concerning Kit Lender. Lori Greiner was curious about the stock. According to Forrest, it might be costly to purchase new equipment every three seasons. This was not to Lori’s liking. Mark Cuban was curious about the expenses involved in maintaining the company.
According to Forrest Kit, his company required a lot of equipment to continue expanding. Barbara Corcoran thought the idea was good but she indicated she didn’t want to invest. Both Robert Herjavec and Kevin O’Leary felt that Forrest should collaborate with ski areas to accelerate Kit Lender’s growth.
Kit Lender received a reaction from each shark. The first person to leave was Lori Greiner. The thought of handling that much inventory did not appeal to her. Additionally, Mark Cuban left because he believed Kit Lender would require too much funding to expand. Despite liking the concept Barbara Corcoran claimed she was not a good fit for it.
Forrest needed to collaborate with ski resorts, according to Robert Herjavec and Kevin O’Leary. They believed that Kit Lender would prosper if it partnered with the appropriate companies. Ultimately Forrest left without a deal because none of the sharks made an offer.
What Went Wrong With Kit Lender On Shark Tank?
Kit Lender was unable to secure a deal for a number of reasons. The thought of overseeing so much merchandise did not sit well with Lori Greiner. She believed that keeping track of all the equipment would be too difficult. Kevin O’Leary and Mark Cuban believed the company would require a significant amount of funding to continue operating.
Although Barbara Corcoran thought the idea was good she stated that she did not want to invest in it. According to Robert Herjavec and Kevin O’Leary, the founder needed to collaborate with ski resorts in order to expand more quickly. Ultimately none of the sharks thought it was the correct line of work for them.
Product Availability
A variety of outdoor gear is available from Kit Lender. Renting ski and snowboard equipment is their primary offering. All the equipment needed for skiing or snowboarding is available for hire. Adult kits range in price from $30 to $44 each day while children’s kits cost between $18 and $22 per day. Additionally, Kit Lender leases equipment for triathlons, swimming, hiking, and camping.
Individuals can select the necessary equipment by visiting the Kit Lender website. The equipment will be shipped by the company to their residence or lodging. The customer returns the equipment in a pre-paid mailbox after their vacation. To provide premium equipment, Kit Lender has teamed up with companies like Yeti and The North Face. The company also works with Bombas who was on Shark Tank before.
Conclusion
Despite not landing a deal on Shark Tank, Kit Lender’s business went on to become a profitable venture. To expand the business, Forrest Shinners put in a lot of effort. In addition to hiking, camping, and swimming, Kit Lender now leases equipment for a variety of outdoor pursuits. Helping people enjoy the outdoors with affordable equipment has been a success for the company which has worked with major manufacturers.
Kit Lender is currently earning about $2.8 million annually as of 2024. For those who enjoy outdoor sports but do not want to purchase pricey equipment. Kit Lender is still a fantastic choice even though the sharks did not invest.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
