The Measuring Shovel Net Worth: On tonight’s episode of Shark Tank, The Measuring Shovel, Pili Hunters, Supply, and EZC Pak presented their business strategies to Robert Herjavec, Mark Cuban, Kevin O’Leary, and Lori Greiner, with guest shark Dan Lubetzky. Lori finally chastised an entrepreneur in the tank for neglecting her. That’s quite an amazing achievement for a teenager!
The Measurement Shovel
Maddox and Amanda Prichard first offered $40,000 for a 15% stake in The Measuring Shovel, a gardening tool company. Because the tool has measures printed on it right away, the user can see how deep they’ve dug without having to use a separate measuring device. Maddox came up with the idea for the instrument in fourth grade after watching his mother struggle to spread out her plants while gardening. He was recognized for his achievements at the 2016 National Invention Convention in Washington, D.C.
Kevin and Lori formed a partnership with a 30% stake in the company and a license agreement as a result of their admiration for what he had accomplished at the age of 13. Dan, on the other side, was equally enthused, offering $40,000 in exchange for a 25% ownership. Maddox countered by asking Kevin and Lori if they would reduce their stake to 25%, which they declined. He then asked if they would be willing to go up to $50,000, to which they said that they would not. They concluded that because they were two sharks working together, he should accept $40,000 for 15% — which he did.
According Robert, it’s greatest nut he’s ever had
He’s already sold $2.5 million worth of stuff for just $100. When the sharks realized Pili Hunters had 14 different goods and $400,000 in inventory, they started to back off. Everything is laid out in front of you. It’s functioning, and you walk away exclaiming, “I want to make this!” and “Make that for me!” “The more intelligent you are, the more focused you need to be,” Robert said before leaving.
Get to meet millionaire wives such as Kevin O’Leary and Robert Herjavec
The sharks’ next destination was at Jason Thomas’ Pili Hunters. Because a pili nut has the lowest carbohydrate content and the greatest fat content of any nut on the planet, Jason has targeted those on the Ketogenic diet by selling a 10% stake in his company for $325,000. After the remaining sharks followed Robert’s lead and bailed out one by one, Jason was left without a contract.
Patrick and Jennifer Coddou’s Supply single-blade razor gave the sharks their first close, bump-free shave. They demonstrated how multi-blade razors can produce ingrown hairs, but a single blade does the job without irritating the skin. They’re asking $300,000 for a 10% stake in their business. If there are more blades, there will be more friction, according to Patrick. Moreover, the figures speak for themselves. This year, Supply expects to earn $2.5 million from online direct sales.
Lori was the only one who initially declined, citing that the product was not right for her. Dan departed the company as well, claiming he couldn’t add anything worthwhile. Mark’s decision to leave the group was influenced by his multi-blade razors. Kevin offered $300,000 in exchange for a 5% stake in the company and a lifetime income of $1.50 per unit. Robert offered $300,000 in exchange for a 15% stake in the single-blade razor business. The couple tried to persuade Robert to reduce his interest to 12.5 percent, but he refused and argued that he was worth 15% of the company. They agreed to Robert’s proposal and formed a pact.
Product in-tank EZC Pak, anti-inflammatory supplement
Dr. Sareth Malepati approached the sharks for $125,000 in exchange for a 5% stake in his company. According to Dr. Malepati, 95% of doctors admit to providing antibiotics to their patients for unknown reasons. Why? Because patients have demanded them. People with a compromised immune system are more susceptible to viruses and other infections, which is why antibiotics are being prescribed more frequently. A patient should be able to obtain additional health-related information. “That is entirely false in every way,” Mark responded emphatically.
Direct marketing to customers who may or may not have adequate health literacy to determine if they have a specific condition poses a problem “added the physician. Despite Lori’s admission that she believes in the product, Dr. Malepati’s focus remained fixed on Mark, which was a turn-off for her. What do you mean when you say you’re ignoring me? I find it odd that your focus is drawn away from me and toward Mark while I’m speaking with you. You’ve had to admit it, right? I’m out because you don’t even look at me while I’m talking to you “she observed. I feel degraded as a female in this room. “I’m irritated,” I say.
Despite the hostile environment surrounding the tank, Kevin offered $125,000 for a 5% investment and a royalty of $.60 per unit for life, despite the challenging sell. Instead of the current $.60 royalty, he asked if he might accept a $1 royalty for 36 months. A 5% investment in Kevin’s company was worth $125,000, plus a $1 per unit royalty, for a total investment of $450,000. Finally, the doctor reached an agreement. Despite the good news, he was visibly worried about his terrible encounter with Lori. “Lori accused me of being a chauvinist, which surprised me. He expressed regret, stating, “That is not who I am as a person, and I apologize if she felt that way.
The Measuring Shovel includes an inbuilt ruler
The measuring shovel’s inventive design was inspired by gardening. Gardening necessitates a variety of tools, as well as knowledge of which plants are best for your garden and how they respond to the seasons. After all, that is what the measuring shovel is for.
What Makes the Measuring’s Owner So Popular?
While the majority of customers have yet to try the product, sharks have already done so because the company is currently in the pre-launch phase. Because of its innovative design, gardening is made easier and more exact with The Measuring Shovel. This gadget can be used to measure the size of the holes required without the use of additional tools. It’s very useful in this situation. Gardening has never been easier than it is now, thanks to this software.
Is there any word on whether or not the appearance on Shark Tank went ahead?
Kevin O’Leary and Lori Greiner are providing $40, 000 for 30% interest in The Measuring Shovel as part of their cooperation. Maddox and his mother, Amanda, enter the tank for a $40,000 investment in exchange for a 15% ownership in their company. They were seeking someone to help them get their product to market prior to appearing on Shark Tank, and they were in pre-revenue at the time. Lori and Kevin pay Maddox $40,000 in exchange for 30% equity (15%) in their business concepts, with the goal of licensing the resulting product. Maddox is now a member of the Shark Team and has an investment as a result of accepting the offer.
WHY IS THE MEASUREMENT SHOVEL NOT AVAILABLE RIGHT NOW?
Lori and Kevin’s contract has not been completed as of this writing, and the shovels are not for sale. Maddox, on the other hand, has a website and is continually growing his knowledge of how to establish a small business from scratch and become a successful entrepreneur.
The product has yet to be developed. Lori and Kevin Maddox’s business will certainly grow as a result of their experience, knowledge, and assistance!