Slick Barrier Shark Tank Update – Net Worth, Pitch & Deal

Ants, cockroaches, and other tiny creepy crawlers are getting into our houses and disrupting the cleanliness of our houses. This problem is known to happen worldwide. The question is, how do we prevent the creepy crawlers from entering our houses and getting into our prized possessions or biting us? Aaron was faced with this question, which led him to develop the product Slick Barrier.

Tony and Aaron have got the right idea to stop the pests from entering your house. With the help of their innovative, clean, and easy-to-apply product, slick barrier. You can keep the insects out of the house, and you won’t have to worry about the creepy crawlers anymore.  

Slick Barrier net Worth

Tony Gonzales and Aaron Gonzales asked for a $500k investment in exchange for 10% equity in their company. This meant they valued their company at $5 million. They made a deal with Lori Greiner for $100k upfront and $400k as a loan, with 15% equity in the company. This new deal valued their company at $666,667.

After the show aired, Slick Barrier saw a big increase in website traffic, sales, and social media exposure. They have also expanded their product line. With their product now available at Home Depot in Arizona and online and considering a typical 10% yearly growth rate, the current net worth of Slick Barrier is about $1.11 million.

What happened to Slick Barrier after Shark Tank?

Many new SKUs have come about since their appearance on the Shark Tank. The deal with Lori doesn’t seem to have materialized. One year after the episode was aired, the duo uploaded a post on their website asking for more investors to fund the product. This seems to indicate the likelihood that the deal with Lori didn’t go through. Or could they have burned through the $500,000 given by Lori in just one year? This seems unlikely. However, the product is now available at Home Depot in Arizona. Also, the product is being sold on the company’s website, and with so many additional SKUs, there’s a good chance the company is doing well.

Did Slick Barrier get a deal on Shark Tank?

Yes, All the sharks bowed out except Lori. Lori wasn’t sure of the product either but believed that if it even kept some of them out, that would be good enough. Hence, she offered them a unique deal. She made the offer of paying the $100,000 upfront and $400,000 as a loan, with 2 years being the term of the note and 15% equity of the company. Aaron wasn’t sure in the beginning, but with Kevin and Robert chiming in and telling them that they only had one offer and that she was only asking for 5% more than their original offer. With that, the duo quickly accepted the offer.

Shark(s) nameOffer & DemandCounterofferAccepted?
Robert HerjavecOutN/AN/A
Lori Greiner$100,000 upfront with $400,000 as loan at 15% equityN/AYes
Kevin O’LearyOutN/AN/A
Daymond JohnOutN/AN/A
Mark CubanOutN/AN/A

Slick Barrier Shark Tank Update

slick barrier net worth

Backstory

Aaron’s house was infested with the scorpions. He and his wife were unable to get them out, and as frustrating as it could get, the local pest control also failed them. It went up to the point where they considered selling the house that they had just recently bought.

However, he noticed that they couldn’t climb up the smooth surfaces; this clicked with him and made him consider if he could coat his house with a product that provided a smooth enough surface, they wouldn’t be able to climb it. Hence, he developed the Slick Barrier, and it worked. Lori inquired about their background; Aaron told her that he had been in corporate sales for his entire life.

Initial Pitch

Tony and Aaron came into the shark tank asking for $500,000 for 10% of their company, Slick Barrier. Tony and Aaron had an elaborate plan for the presentation. The rodents, spiders, and other creepy crawlers in the displays. The use of the product was aptly displayed, providing all the sharks with a clear and precise picture of what the product can do.

The duo told the sharks about the kinds of creepy crawlers that their product protects against, such as spiders, cockroaches, rodents, scorpions, and ants. Slick Barrier is a pesticide-free, physical barrier that contains no poisons at all. The application of the product is simple, and it goes on the base of the home or any place you don’t want creepy crawlers to climb on. Once applied, it turns hard, slick, and smooth. It’s a physical barrier that prevents insects from crawling up.

The display played a key role in showing the benefits of the product. With two houses on display, one of them had the slick barrier applied to it, and the other one did not have the slick barrier protection. The one that did not have the slick barrier had insects crawling all over it. The one that had the Slick Barrier protection did not have any insects crawling into the house.

Slick Barrier also has a patent, and with that announcement, the duo asked the sharks to come and test out the products. They asked Kevin to stand on a block that had the slick barrier protection along with cockroaches crawling in the box. Kevin stood on the bricks and was impressed by the fact that none of the cockroaches was climbing on the bricks that he stood on. They also had another box, and it was Arizona Bark Scorpions, which are one of the most venomous scorpions in the world.

They provided the sharks with different materials that the Slick Barrier could be applied to. They also provided Mark with studies from different universities, and they tested them on bed bugs, roaches, and scorpions.   Their vision was to focus on direct-to-consumer sales; however, they also wanted to push into the pest control industry.

Queries about the product

what happened to slick barrier after shark tank

Robert inquired about the fact that most of the crawling insects come into the house through pipes or a hole in the wall. To which the duo responded that all the pests start from the ground up.

Lori asked about the sales, and the duo told them that 2020 was their first year of sales, and they had $180,000 in sales. Robert asked if earnings were just from the product or the service. Aaron told him that the earnings were just from the service, that the product was not being sold at that time, and that they were charging for the service. Kevin asked about 2021, and Aaron told him that the revenue for the whole year was $650,000, $200,000 of it was from service, and $450,000 was from the service.

Mark asked who the product was being sold to. Aaron told them that they were selling the product to the pest control companies highlighting the fact that the business was being conducted as a B2B rather than B2C. In 2022, they decided to focus on selling the product. They sold $50,000 in just the month prior to appearing on Shark Tank. The packaged product is water-based, does not require a mask, and is as easy to apply as paint.

Kevin finds the evaluation to be off and wanted to inquire more about it and get to the bottom of the matter. Tony told him that once they figured out that the product worked, they raised capital for it. Robert asked how much they had raised. Tony told them that in 2020, they raised half a million dollars, aka $500,000. The second time they were able to raise $700,000 at a $3 million evaluation.

Mark asked how much they are selling the product to the pest control companies. The duo told them that the average price was $70 per gallon. He further asked how many gallons are used in a single house. Aaron told him that it takes roughly 2 or 2 and a half gallons per house. Mark further inquired what the pest control companies charge the end users.

Aaron told him that pest control companies charge the consumer $1400 for the service. On further inquiry, Mark was disappointed to find that the duo is not getting any percentage of the service that the pest control is providing to the consumer. This meant that they would have to sell a lot of products to justify the evaluation of up to $5 million.

Robert inquired from a consumer purchase perspective about the production cost and what it sells for. The duo told them that it cost them $30 for the landed product, and they were selling it for $100.

Sharks Responses and Final Deal

did slick barrier get a deal on shark tank

Once Mark reviewed the third-party testing, he commended them and told the panel of sharks that, in all the cases, the pests didn’t climb the wall. After Mark had a back-and-forth with the duo about the pricing of the product and their method of servicing the pest control, he was very disappointed and found the evaluation unjustifiable, leading him to say that he was out. Kevin couldn’t wrap his head around the evaluation and considered it to be extremely off, which is why he declared himself out.

Robert was next to chime in, stating that he didn’t think that the product would be able to keep the pests out, and that’s why he declared himself out. Daymond also bowed out, showing little to no faith in the product and its ability to keep the pests out.

Product Availability

The product is available for purchase on the website of the company, Slick Barrier. It is also being sold at Home Depot in AZ, and in the online world, it is being sold on Amazon, and that’s it. The list is pretty small, but there are a lot of people who have used it and left amazing reviews about it.  

Conclusion

Slick Barrier offered a great solution to the problem of pest control. Sadly, most of the sharks didn’t see the potential of the product, and Lori was the only one who saw the potential in the product. The duo planned a great execution of the presentation and made sure that the sharks could really see the difference it made and how protected one might feel with the help of this product. Thanks to the Shark Tank Effect, they also sold out most of their inventory, and the site seems to be flourishing. If you liked this article and want to stay up to date about Shark Tank news, make sure to follow us.

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