One product that helps a lot of people with frequent problems is KwikHang. It might be challenging and irritating to hang curtain rods. The brackets must be measured to ensure that they are level. Next, holes are drilled into the wall. The wall occasionally fractures or cracks. It can take a long time even if everything goes according to plan. KwikHang was created to simplify this procedure.
You only use a hammer to tap the brackets into the window frame rather than screws or drilling. This helps to save time and work. On Shark Tank, Derrek Burr pitched KwikHang and requested funding from the team of investors. Will the entrepreneur get a deal on Shark Tank? Check out our Kwik-Hang update to find out!
Kwik-Hang Net Worth 2024
Derrek Burr asked for an $80k investment in exchange for 20% equity in his company, KwikHang. This meant he valued his company at $400,000. He did not make a deal with any of the Sharks. Despite not securing a deal, KwikHang has made over $9 million in sales since its inception. With an estimated 10% yearly growth rate, the current net worth of KwikHang in 2024 is about $9.9 million.
Kwik-Hang Shark Tank Update
Following their appearance on Shark Tank, KwikHang kept expanding. Despite not landing a deal on the show, the company is still operating in 2024. In its lifetime, KwikHang has made over nine million dollars in sales. The product can be found at numerous stores all throughout the country. You can get KwikHang at Ace Hardware, Home Depot, Walmart, and Amazon, among other stores.
The business has had to deal with cheaper knockoffs, among other difficulties. The online sale of these copies has caused issues for the company. In spite of this, KwikHang is still popular. The company is happy to support materials created in the United States and all of its goods are made there.
On Shark Tank, KwikHang was unable to close a deal. When Derrek Burr appeared on the show, he demanded $80,000 in exchange for 20% of the business. Despite like the product, the Sharks decided not to invest. At the time, a few Sharks believed the company was too tiny.
While some were pleased with the product, some did not think there was enough room for the business to expand. Even in the absence of a contract KwikHang was able to grow and attract more clients thanks to the attention from Shark Tank. Keep reading our KwikHang update to find out what happened next!
| Shark Names | Demand & Offer | Counter Offer | Accepted? |
| Mark Cuban | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
Kwik-Hang Shark tank Pitch
In terms of a KwikHang update, Tom Burr invented the KwikHang. His goal was to develop a tool that would facilitate the hanging of curtain rods. Tom put a lot of effort into this product but regrettably he lost his fight with cancer. Derrek Burr, his son, made the decision to pursue his father’s ambition.
Derrek was determined to see KwikHang succeed in order to honor his father. In addition to being a police officer, Derrek was formerly a Marine. Derrek encountered numerous difficulties in the beginning. The business had trouble raising capital. Two Kickstarter projects fell short of their targets. Derrek was unwavering though. He was aware of the wide-ranging potential benefits his father’s idea could have.
In our KwikHang update research, Derrek Burr gave an explanation of the KwikHang backstory during his Shark Tank pitch. He explained how the device was created by his father to address the issue of hanging curtain rods. Derrek gave an example of how simple it is to use KwikHang. Using a hammer simply press the bracket into the frame of the window rather than boring holes in the wall.
This streamlines the entire procedure. Derrek requested $80,000 from the Sharks in exchange for a 20% stake in the business. He added that KwikHang’s sales had increased by 35% in the previous 12 months. Derrek felt optimistic about the product’s growth prospects as it began to make a profit.
Throughout the pitch, KwikHang was questioned by the Sharks multiple times. Their curiosity was piqued by the functioning of the product. They enquired about sales figures and the cost of manufacturing each bracket. According to Derrek, the production cost of the single bracket kit was $3.15 and it was sold for $10.95. The cost of the double-bracket kit was $17.95. The Sharks also wanted to know how KwikHang held up against alternative curtain rod holders. They were curious as to what set KwikHang apart from other goods.
In regard to a KwikHang update, The Sharks’ reactions to KwikHang differed. Despite finding the product to be impressive. Mark Cuban chose not to invest. Although Lori Greiner passed on the offer. She did suggest that Derrek may license the product. Daymond John did not invest either since he believed that the company was still too tiny for Derrek to work full-time in.
Although he recognised some potential Kevin O’Leary also chose not to proceed with the deal. Robert Herjavec thought the company was too tiny for him to invest in. Even though he admired the product and found Derrek’s tale to be moving. Ultimately, none of the Sharks chose to invest and Derrek departed without securing a contract.
What Went Wrong With Kwik-Hang On Shark Tank?
On Shark Tank, KwikHang failed to close a deal for a number of reasons. The Sharks believed the company was too small at the time which was one of the reasons. Before they felt comfortable making an investment they wanted to see greater sales and growth. The Sharks’ uncertainty about Derrek’s ability to turn KwikHang into a full-time business was another factor.
Although Lori and Kevin thought the product was good. They didn’t think it was the appropriate fit for them. Derrek’s narrative captivated Mark and Robert. But they weren’t sure the company was ready for a significant investment. Although the product was good overall. The Sharks were not interested in the business at this point.
Product Availability
A new invention called KwikHang makes hanging curtain rods quick and simple. There is no need for screws or drills because the brackets are fastened with nails. To secure the brackets into the window frame all you need is a hammer. KwikHang is offered in a variety of hues and sizes to complement any interior design. White, silver, brass, or black finishes are the options available.
Kits for single and double brackets are available for purchase. The price of the single bracket kit is approximately $10.95 but the double bracket kit costs $17.95. Products from KwikHang are available in numerous locations. Including Ace Hardware Home Depot and Walmart as well as on the company’s website. The business keeps developing and becoming more visible.
Conclusion
The experience KwikHang had on Shark Tank was difficult. Despite not landing an agreement, Derrek Burr’s product attracted a lot of interest. Many consumers find KwikHang to be very user-friendly and appreciate that it solves a real problem. The firm expanded further after making an appearance on the show.
Major retailers now carry KwikHang, which has generated sales of nearly $9 million in its existence. Derrek Burr has put a lot of effort into making his father’s idea a profitable venture. Although the Sharks chose not to invest, KwikHang appears to have a promising future. It will be interesting to observe how the business develops in 2024 and beyond.
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.
