SneakERASERS is the perfect way to keep your shoes looking clean and presentable on the go! With its dual-sided, pre-moistened sponge design, it easily removes dirt, grime, and scrapes from any shoe in a matter of seconds. Not only that but SneakERASERS (SneakErasers) is incredibly portable – with its round shape and small size you can carry it anywhere; whether that’s in your pocket, laptop bag, or even handbag!
Seen recently on ABC’s Shark Tank Season 12 episode 23 this revolutionary product has been making waves across the country.
As soon as SneakERASERS appeared on the hit show, it quickly soared to the number one spot in both Amazon and Google searches. Additionally, SneakERASERS has been featured on popular TV shows such as Today, The View, and more recently Inside Edition. It’s no surprise that this product is already making waves!
If you’re a fan of Shark Tank, you were probably glued to your TV on Friday night when the season finale aired. One of the most popular segments on the show is when the sharks invest in a business, and viewers get to see how that business does after the show. This week’s episode was no different, as one of the businesses featured was SneakERASERS. If you’re not familiar with SneakERASERS, they are a company that makes edible underwear. Yes, you read that correctly!
What Is SneakERASERS?
SneakErasers is a dual-sided sponge designed for specific shoes. FTI Brands LLC is a subsidiary of the company’s SneakErasers brand. This company was started in 2016. This company mainly focuses on shoe care, fashion, the footwear industry, shoe accessories, and sneaker cleaning [1].
SneakErasers is a simple solution to remove dirt from shoes. The dual-sided sponge of this product comes in white and orange colors and it is used to remove stains from shoes on both sides.
This sneaker cleaning sponge is developed to remove the worst scuff marks, smudges, and dignity without harsh chemicals. It has a dual-layer sponge with ideal compression and molecular structure that increases durability and makes shoes look like new. Its white part is made from micro-scrubbers, which on scrubbing remove the marks instantly. The orange part has a super-soft chamois that completely clean the scribbled dirty part.
SneakErasers has made another product that includes Sneakerasers Bundle, AutoErasers Bundle, GolfErasers Bundle, PurseWipes + Bundle & Auto/Golf Combo!
Who Is The Founder Of SneakERASERS?
The creators of SneakERASERS are Chris Pavlica and Kevin Consolo. Old college roommates came up with the idea of SneakERASERS when in 2016, one of the founders was pitching a film to Coca-Cola executives and his shoes were a big part of his outfit but the soles were quite dirty [2].
He spent twenty minutes just cleaning the soles of his shoes and he realized that there has to be a better, faster, and easier way to clean shoes while also out of the house.
So together, Kevin and Chris got to work on inventing their quick and easy shoe cleaner.
Kevin put his house on the line and moved to Los Angeles where they turned Chris’ garage into a makeshift laboratory.
There they tried and tested samples of their patent cleaning invention until they finally perfected the formula. Creating SneakERASERS, initially named Sole Rubbers.
Once they struck gold with their invention, they ordered a pallet to start selling their product to the masses.
They initially focused on selling the SneakERASERS to shoe stores but they soon realized that it garnered mass appeal so they got to work with getting the SneakERASERS to major retail outlets like Walmart, Kroger, CVS, Costo, Amazon, and more.
Despite the mass distribution of the SneakERASERS, Kevin and Chris knew they needed help with funding and they found their opportunity when they were given the “go-ahead” to pitch the SneakERASERS to the sharks of Shark Tank.
SneakERASERS Before Shark Tank
FTI Brands means “Free To Innovate”. It reflects the life journey of these two business partners. It was both Guys doing business and they used to meet together for their business idea and think of the idea.
From his school to college, he used to think a lot about business ideas, but he does not know what a good business idea can do.
In 2016, the sneaker was a huge part of his outfit when he was going to pitch a film project to Coca-Cola executives [3].
Although his sneakers had become dirty, he started scrubbing them with hand sanitizer for 20 minutes to clean them. This gave him the idea that a simple solution should be found.
To solve this problem, Chris called his friend Kevin and both of them got engaged to make the cleaning sneaker product.
He made this product in Chris’s garage. At the time of inception, they started selling this product in shoe stores.
These SneakERASERS participated in sneaker tread shoes in Los Angeles and in two days all their sponges were soldered.
Due to the demand for the product, it has been made available in 35,000 retail locations including Walmart, Kroger, CVS, Family Dollar, Camping World, and Golf Town. This product is also available online on my site including Walmart, KrogerSHIP, and Amazon.
Chris & Kevin decided that if they want this business to grow, they should go to the Shark Tank show.
SneakERASERS On Shark Tank: The Pitch
The two innovators Chris Pavlica and Kevin Consolo clubbed their expertise and were seen on the shark tank’s episode seeking an investment of $ 200,000 for an 8% of stake in the business.
Kevin and Chris presented their idea of how to make their sneakers clean with instant cleaner. The cleaning buff comes with strong cleaning power and enables the user to remove dirt with just a soft and smooth swipe.
Till now the duo has been able to achieve sales of $ 1.1 million and would like to close the year at $ 1.8 million. With only 12% of their business from e-commerce sales, their next important step was to revamp their online business to expand reach [4].
Duo already knew that Lori and the guest shark Alex Rodriguez had invested in a similar venture of product that was to remove odor from sneakers and gloves.
Both Lori and Alex did show interest in the business and made an offer of 0,000 for a 20% stake. The idea of Sneakerasers was good and had the potential to grow in retail outlets, sports outlets, and gymnasiums.
Mark comes with another proposal of $ 200,000 for 12.5% equity to allow shoe manufacturing to tie with packaging companies. The duo made a counteroffer and Mark was out of the deal.
Chris and Kevin quickly came back to Lori and Alex’s offer for agreement and sealed the deal at the shark tank episode. Chris and Kevin left accepting an offer of $ 200,000 for 20%.
SneakERASERS Now
Their growth was in small steps forward as they found their retail partners to showcase the product to customers. They started online and slowly after appearing on shark tank they expanded their retail reach. They found that in the year 2019 alone they expanded from 200 to 3000 stores across the country.
Some of the names are Krogers, CVS Costco, and many more. The rating on Facebook is a mesmerizing 5 stars and the customers are finding it a useful product. There is a need for this product in every household.
The company introduces two more lines of products called golf erasers and auto erasers and wants to expand the retail outlet part of the business far and wide.
Good Morning America featured this product and it was included in my 2022 Father’s Day Gift Guide on Amazon.
SneakErasers are getting many orders from Amazon, due to which the founders are doing most of the advertising on Amazon.
Its Instant Sole & Sneaker Cleaner product is Amazon’s best-selling product as of now thousands of people have bought this product.
The Net Worth Of SneakERASERS
The current business of Sneakerasers was acquired by FIT brands. While talking of revenue it got changed from 1 million to 1.8 million from 2016 to 2018.
After this episode of SneakErasers aired, it got a boost in sales for a few months, but after that, it slowed down.
This business is facing a lot of challenges right now because there are many brands that have come into the market with this type of similar product.
As an alternative product of this company, there are many brands like AutoERASERS, etc. which are selling this product on Amazon.
Yes, SneakErasers is still in business as of September 2022 [5].
FAQ:
- How do you clean shoes with a magic eraser?
There is no definitive answer to this question, as the method for cleaning shoes with a magic eraser will vary depending on the type and material of your shoes.
Some basic tips include using gentle pressure when rubbing the eraser on your shoes, focusing most of your efforts on heavily soiled areas, and rinsing off any residue after you are finished.
Additionally, it’s important to be mindful of the potential damage that can occur from using a magic eraser on certain types of shoes, such as suede or leather.
Ultimately, the best way to clean your shoes with a magic eraser will depend on your individual needs and preferences.
- How do you use SneakERASERS?
These sneaker cleaners are pre-moistened to clean your shoe on the go. Just open the pouch and rub gently to easily remove scuffs, dirt, and grime from your midsoles. The pocket-size design allows you to keep our shoe care products with you in your purse, luggage, or gym bag – wherever you want to keep your favorite pair of kicks looking like new!
Just add water to activate the cleaning power and gently rub away scuffs from midsoles before you leave the house. With the dry and pre-moistened versions, SneakERASERS will have your white midsoles looking bright and new so you can look more put-together in all situations [6].
- How much is SneakERASERS worth?
Although the initial investment for SneakERASERS can be a little steep, users quickly find that it is well worth the price of $ 15. A single pack of SneakERASERS contains six cleaning pouches, which means you get one use per pouch. Depending on how often you wear your favorite shoes and how dirty they are when you start using SneakERASERS, each pack can last anywhere from two to eight weeks [7].
- When should you not use a Magic eraser?
Always test the product in an inconspicuous area before rubbing it across the entirety of your shoe to make sure no damage occurs.
- What are the top 5 most successful Shark Tank products of all time?
Here’s a list of some of the most popular and profitable inventions that have been featured on Shark Tank.
For good reason, these products continue to make millions of dollars each year, despite not getting an investment from any sharks [8]:
- Scrub Daddy. This flexible scouring pad was one of the hottest deals ever seen on Shark Tank, with investors fighting amongst themselves over who would get to invest in it. Today, this product continues to be wildly successful and has generated hundreds of millions of dollars in sales since its debut on air;
- Bombas Socks. These socks launched during season six of Shark Tank, with several sharks fighting over the opportunity to invest. Today, Bombas Socks continue to be some of the most popular and sought-after socks on the market, thanks to their high quality and unique design features;
- The Grizzly Cooler. This rugged cooler was another big hit with investors during season six of Shark Tank. With its sturdy construction, efficient design, and durable materials, this product has become a favorite among outdoors enthusiasts all over the country;
- Thrive Market. This online grocery store offers an affordable alternative for those looking to save money on their shopping bills while still getting access to healthy food options. Even without investment from any sharks, Thrive Market has grown into a multi-million dollar company that continues to thrive today;
- The RealReal. This luxury consignment store offers a unique shopping experience for those looking to get high-end designer goods at discount prices. Although it did not get an investment from any sharks, RealReal has grown into one of the most successful online retailers in the world and has generated hundreds of millions of dollars in sales since its debut on Shark Tank;
- What companies did Shark Tank reject?
Countless products and businesses have appeared on Shark Tank but have failed to win the approval and investment of any sharks.
Some of these companies include:
- Moolala, a website that offers daily online deals;
- Household, an app designed to help users organize their homes;
- Presto Doctor, a medical service that provides easy access to medical marijuana prescriptions;
- Fuudly, a pet food delivery service for busy pet owners;
- Rokit Fuel, a line of energy drinks marketed towards athletes;
While many of these businesses initially seemed promising, they ultimately failed to gain traction in the crowded marketplaces they were attempting to enter.
- How many businesses from Shark Tank failed?
Shark Tank is one of the most popular shows on television, watched by millions of people across the country. It’s such a big hit that it has spawned a host of copycats, from Shark Tank Sunday to The Chair in search of the next big idea. But none of these shows can compare to the original: Shark Tank.
Over its 12 seasons, hundreds of businesses have appeared on the show and presented their products or services to potential investors. In fact, at least 500 companies from Shark Tank have failed since 2009. So what happened to all those businesses after they left the show?
Here’s a look at some of the biggest drops and flops that have occurred over time:
- GrooveBook. This photo-sharing company was one of the first businesses to appear on Shark Tank, and it seemed like a surefire hit. But GrooveBook failed to live up to expectations, despite raising millions of dollars in funding;
- Washio. This on-demand dry cleaning service had a promising start and raised over $ 6 million from investors, including Mark Cuban and Kevin O’Leary. However, rising operational costs led to its demise shortly after turning a profit in 2015;
- TerraCycle. This innovative recycling company started off strong, but it struggled to find a sustainable business model. Despite raising millions of dollars in funding and even partnering with large corporations like Procter & Gamble, TerraCycle filed for bankruptcy in 2017;
- Who turned down a million dollars on Shark Tank?
Deborah Torres is part of the rising ranks of women of color leading the vegan revolution. Her award-winning company, Atlas Monroe, gained national fame after impressing the judges on the reality investing series, Shark Tank, in 2019.
Impressed by her product, the sharks offered Torres $ 1 million for her company [9]. She turned it down. While some may have jumped at the opportunity that has made household names out of brands like Bombas and Cinnaholic, Torres declined it. The seemingly lucrative deal came with a 100 percent stake in Atlas Monroe, something that she was not willing to do. She feared that losing control meant losing her brand.
- Has there ever been a Shark Tank deal with all 5 “sharks”?
This question has stumped many Shark Tank fans. While there have been contestants who have agreed to deals with the five sharks, there has never been a deal where all five sharks were involved in one transaction.
In general, the platform only allows for negotiations between two sides – the investor and entrepreneur – so this scenario seems practically impossible.
Useful Video: Sneakerasers REVEAL What Happened AFTER Shark Tank
References:
- https://sharktanktalks.com/sneakerasers-shark-tank-update
- https://onlinebizbooster.net/what-happened-to-sneakerasers-after-shark-tank
- https://sharktanktalks.com/sneakerasers-shark-tank-update
- https://bizzbucket.co/sneakerasers-after-shark-tank-update
- https://sharktanktalks.com/sneakerasers-shark-tank-update
- https://www.erasers.com/sneakerasers
- https://www.business2community.com/entertainment/shark-tank-sneakerasers-accept-200000-from-alex-rodriguez-and-lori-greiner-02404940
- https://www.investopedia.com/articles/investing/082415/10-most-successful-products-shark-tank.asp
- https://www.livekindly.com/deborah-torres-mark-cuban