Mini Materials Shark Tank Update – Net Worth, Pitch & Deal

Jared Waters has pitched his cute miniature company on Shark Tank Season 15 Episode 6. This company creates cute 2D materials for its customers. It’s made with real materials like wood, concrete, mortar, and other stuff. Jared asked for a $100k investment in exchange for 2o% equity in his company. But will Sharks invest in cute toys? Let’s find out.

Mini Materials Net Worth

Jared Waters asked for a $100k investment in exchange for 20% equity in his company. He valued his company at a $500k valuation. The company received a good boost after the episode was aired. So, what’s their current net worth as of today? Let me calculate. Mini Material is still in business and making good sales. So, if I assume their continuous growth at 10% speed (typical business growth), their current net worth should be estimated at around $650k. That means Mini Material’s current net worth is approximately $650k.

What Happened to Mini Materials After Shark Tank?

After Shark Tank, Mini Materials begins its golden journey. The company sold a $50,000 product in a week. Traffic surged at their website. With 460 reviews of 5 stars, the products begin to be used for daily life materials. The monthly income rose to $20,000. 

Did Mini Materials get a deal on Shark Tank?

Unfortunately, no. No Sharks was interested in making a deal with Mini Materials.

Shark(s) NameOffer        Demand  Counter Offer      Accepted?
Robert Herjavc
OUT          N/A             N/A             NO  
Lori GreinerOUT          N/A          N/A          NO
Kevin O’LearyOUT          N/A          N/A          NO
Daymond JohnOUT          N/A          N/A          NO           
Mark CubanOUT          N/A          N/A          NO

Mini Materials Shark Tank Update

mini materials net worth

Founders & Their Backstory

Jared was brought up in a rural area in Idaho. After school, he went to Portland. He landed a professional job, got married, and had kids. He always wanted to set up a business. He thought that a business without sales was irresponsible. So he purchased something that already working. 

Initial Pitch

Jared begins his pitch with his introduction and his demand. He demanded for $100,000 for 20% equity. He explained how the world has faced big challenges like the pandemic so now it needs smaller and cuter stuff. Then he introduced his company, Mini Materials. 

The company produces high-quality miniature materials like bricks, furniture, and everything you need in 2D modeling. Any material of any kind is available. Jared concluded his pitch cheerfully. Samples were provided to all the Sharks. 

Queries about the Product

what happened to mini materials after shark tank

Kevin asked why anyone would need it. He then begins his queries about the business journey and sales numbers. Jared responded that he bought the business one year and one month ago (at the time of filming). The business idea was sparked on Reddit, the online platform. 

The original owner was scrolling through Reddit where he saw real concrete mini bricks. So they begin the business and share online. People loved it and wanted to purchase it. So they created the business website which turned out to be very good. However, Jared reached the post and had a company purchase.

Robert inquired about the business purchase deal. Jared replied he bought the business for $200,000 in 2022. In return, Robert inquired about the source of the money. Jared answered that he took HELOC (Home Equity Line of Credit). Sharks were amazed at his risk factor.

Mark inquired about the margin of profits. Jared mentioned that the margin lies between 50% to 93%. It most is 75%. To this, Mark exclaimed that it was better. Kevin inquired about the sales. He said sales were $200,000. Lori asked if he owned the business fully, to which Jared gladly replied yes. Daymond inquired if he made it, to which he replied yes.

Robert picked a wooden miniature pallet to inquire about its cost. Jared replied it cost $20 with the logo. Robert then inquired about the cost of manufacturing it. Jared mentioned that it costs $4 to make them. David then inquired about the target audience’s age. Jared responded that he didn’t know the exact number, but the packaging was 8 to 12 years old. Daymond again asked for a general number, to which he couldn’t respond. 

Shark Responses & Final Deal

Daymond stepped out as Jared was unable to answer the question. Robert inquired about his backstory. Jared then shared his backstory. Kevin continued to inquire about Jared. He asked if he was paying himself. So he replied with a yes. Kevin further asked how much so he replied how much. He said around $55,000 per annum.

Kevin stepped out as he considered the marketplace to be too small. Lori was next to quit as she thought it was not her perfect fit for investment. Robert stepped out too. He said as an investor he doesn’t see much potential in it. Mark was the last to quit. He explains to Jared that no investor wants sot to invest in any new business as it needs decades of hard work. All Shark appreciated his work but he got no deal. 

What Went Wrong with Mini Materials on Shark Tank

Mini Materials pitch was amazing and cute. But the investors were unfamiliar with the industry and the HELOC was a big trouble too. This makes the Sharks quit one after the other.

Product Availability

Customized and building materials are to be sold on the website. There is an option for everyone. Custom, 3D, DIY, equipment and much more. Check the website for more details. 

Conclusion

Jared Waters came to Shark Tank to help the world have smaller and cuter thoughts. His company, Mini Materials, builds custom-made and pre-build construction materials of different scales. He demanded for $100,000 for 20% equity. His pitch was cute, but the Sharks were not interested in the business. It was newly brought and HELOC was the main reason for the Sahrsk to quit. So Mini Materials has to leave without a deal. 

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