The Chub Rub Patch Shark Tank Update – Net Worth, Pitch & Deal

You’re enjoying a sunny day at the beach, or doing an intensive sport. Suddenly, you feel discomfort on your thighs. When they rub together, it creates a painful, irritating rash, and causes the skin to get red. It’s quite a common issue that many people face, but very few talk about.

Brittany Laman from Fort Lauderdale, Florida had experienced this pain firsthand, and presented a solution: The Chub Rub Patch! It’s a lightweight thin patch designed to be applied on your inner thighs.

Brittany came alone on Shark Tank to ask for $200,000 for a 30% ownership in the company. The Sharks liked the product, but there were many glaring issues that presented themselves as they asked more questions. But, did she manage to strike a deal with the Sharks and overcome the odds? Find out in our Chub Rub Patch Shark Tank Update!

The Chub Rub Patch Net Worth

Brittany Laman asked for a $200,000 investment in exchange for 30% equity in her company. This meant she valued her company at $667k. She did not make a deal with any of the Sharks. After the show aired, The Chub Rub Patch 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 The Chub Rub Patch is about $975k.

What Happened To The Chub Rub Patch After Shark Tank?

The Chub Rub Patch has remained in business after appearing on the Shark Tank. Brittany has focused on the product’s marketing and customer engagement. The product has been featured on various blogs and YouTube Channels.

Did The Chub Rub Patch Get a Deal On Shark Tank?

Brittany didn’t get a deal on Shark Tank and for valid reasons. Kevin O’Leary didn’t invest in the company for two reasons. One, he didn’t like the name, and second, Brittany didn’t know what her customer acquisition cost would be.

Mark Cuban didn’t want to invest because he himself has seen from his own experience that people use Vaseline for treatment. They don’t need a new product to solve it. For those reasons, he didn’t invest. Robert, Emma, and Lori didn’t want to invest in the product because it wasn’t big enough for them to make a profit. Nor does the product need that much investment, to begin with.

Shark(s) NameOffer and DemandCounterofferAccepted?
Kevin O’LearyOutN/AN/A
Mark CubanOutN/AN/A
Robert HerjavecOutN/AN/A
Emma GredeOutN/AN/A
Lori GreinerOutN/AN/A

The Chub Rub Patch Shark Tank Update

the chub rub patch net worth

Founders Backstory

Brittany used to work at WWE as a makeup artist and hairstylist. She used to see a lot of wrestlers get their thighs all chaffed up. There were other products on the market such as creams, gels, deodorants, and powders. But there wasn’t a specific product that would solve this problem for the users. It was from there she got the inspiration to make The Chub Rub Patch.

Initial Pitch

Brittany from Fort Lauderdale, Florida came to Shark Tank for a hefty investment of $200,000 for a 30% ownership in the company. With confidence, humor, and without wasting anybody’s time, she went straight to the heart of the issue. She asked the investors what a chub rub was, to which everyone remembered a discomforting memory.

She shared her own personal experience of discomfort and inconvenience when dealing with chub rub on her thighs. As a solution, she presented a lightweight thin patch, which she applied on her inner thighs. By using this product, you can say goodbye to not having any rash or getting your thighs chafe up again.

Queries About The Product

During the Shark Tank discussion, Kevin O’Leary asked about Brittany’s sales, to which she said they had sales of $105,000 since starting in July of the previous year. Mark Cuban then asked about the retail price, which Brittany stated was $8.99. When Cuban asked about production costs, she said it costs $2.12 to make each patch. The profit margins were not bad, according to Cuban. O’Leary then asked if the patches were reusable, to which Brittany explained they were designed for one-time use but could be worn for up to three or four days.

Emma was concerned about the product causing any discomfort, like an itch or something similar. Brittany replied that they have had two or three complaints, to which they were asked to consult a dermatologist. Kevin asked a practical question of how she was going to use the $200,000. Brittany replied that she was going to use the money to run Facebook Ads and contact influencers for marketing purposes. But, she didn’t give an estimated number for the customer acquisition cost. This caused a major dent during the discussion as Kevin became disinterested in the product.

Shark’s Response and Final Deal

what happened to the chub rub patch after shark tank

Continuing from the customer acquisition cost, Kevin didn’t have any interest in the product. Mainly because the founder didn’t know her numbers and the amount she’d need to get the customers. For those reasons, he didn’t want to invest in the company.

Similar to Kevin O’Leary, Mark also asked a reasonable question. He asked what percentage of the people reordered again. Brittany replied with a rough estimate of 23% of the people reordering the product.  Mark was curious to know why such a low number of people were reordering the product if it was high in demand. Brittany gave an unsatisfactory answer that didn’t appease Mark or Emma.

Mark then told his Dallas Maverick players also suffer from the chub rub every now and then. No player has ever used a product other than Vaseline. He further clarified without saying it directly that he didn’t like the branding, nor the name of the product. Based on his personal experience, he didn’t see much value in the company or the product. For those reasons, he didn’t want to invest in the product.

Robert also had similar thoughts as the rest of the Sharks. He told Brittany that some products are fine as they’re in small nascent markets. They don’t have to have an investor, nor a huge financial backing of $200,000 capital. Because chances are, the returns are going to be minimal, or without any research, the capital will be going to waste. For those reasons, he didn’t want to invest in the company.

Lori and Emma had similar thoughts as Robert’s. Some products and markets don’t need an investor, nor a large capital to operate. This was one of those products. They also didn’t see any opportunity where they could help out Brittany.

Brittany wanted one last shot at an investment opportunity, so she pitched a licensing deal with Emma. But, Emma didn’t see it that way. She rejected the licensing deal with Brittany. She left Shark Tank without any investment.

What Went Wrong With The Chub Rub Patch on Shark Tank?

Initially, the product had potential. But, the more questions Sharks asked, the more cracks appeared in the business model, and with the founder herself. She didn’t know the customer acquisition cost, which was a nail in the head for Kevin O’Leary. This was because they’ll keep on asking for more investment, without the data backing their claims.

Robert believed that the market was too small, and didn’t require the capital she was asking for. Without having proper research and data, he didn’t have confidence in the company. Lori and Emma were in the same boat as Robert, and refused to invest, nor were they interested in a licensing agreement.

Mark, on the other hand, had real-life experience since he owned the Dallas Mavericks. The trainers and the athletes used Vaseline, instead of an alternative product. Therefore, he saw firsthand that the product had no value in the sports business.

Product Availability

Brittany came on the Shark Tank with confidence and humor to solve a real-world problem that she struggled with personally. She didn’t get the deal on the show that she wanted, but that didn’t stop her from growing her business.

Apart from The Chub Rub Patch you can get from the official website, they’ve also launched three new products. They’re merchandise-related, but Brittany has kept the core product the same throughout the product line.

Conclusion

Brittany came on Shark Tank asking for a $200,000 investment for a 30% stake in her company. She started off strong with confidence and a humorous pitch that left a positive impression on the Sharks. But, the more they asked questions, which were vital for whether they’d invest or not, Brittany couldn’t provide a satisfactory answer. The Sharks didn’t have confidence in the business, and nor could they see their investment getting returned.

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