Kit Lender Shark Tank Update (Season 11)

Kit Lender is an outdoor gear rental company founded in 2014 by Forrest Shinners. Forrest Shinners is an accountant and has worked at Tocqueville Asset Management Company for over 6 years.

Forrest is well-versed in the ski industry as he owns a ski shop with his parents. After college, he moved to New York City for a job, and his friend there didn’t have ski clothing and didn’t want to carry one. Forrest gave a friend his ski clothing for the outdoors, and from this moment the idea for the Kit Lender business was born.

After starting the business, Forrest had to face a lot of difficulties because it was a new type of business and very few people were doing it.

After the business grew, Forrest decided to raise funding. For funding, he appeared on Shark Tank Season 11 Episode 9 and asked the sharks for $200,000 for 7% equity at a $2.8 Million Valuation.

What Is Kit Lender?

Kit Lender is a Premium Ski Clothing and Outdoor Gear Rental Company. Primarily this company offers Camp+hikes, Now+ski, and Tri+swim gear on a rental basis.

If you want to avail of their service, then you have to visit their official website, select the gear and place the order at the destination address. You can also return easily after the rental period is over. For more information, you can contact their 24×7 hour support team.

You will have to pay up to $26-$140 to get this gear every day.

Another Shark Tank Pitch

• Terra Core Fitness
• Outer
• Beardaments
• Easy Treezy

Who Is The Founder Of Kit Lender?

The founder and CEO of Kit Lender Company is Forrest Shinners. After studying accounting at the University of Vermont, Forrest moved to New York and worked at Tocqueville Asset Management for six years.

He has worked as a reporting analyst for 5 years in Rockefeller Capital Management.

How Was The Shark Tank Pitch Of Kit Lender?

After entering Shark Tank, Shinners explained his business to the sharks and asked for $200k for 7% equity. In 2018, he made sales of $755,000 and had an EBITDA of $106k.

All the sharks refused to invest in this business because the kit lender company was not the right business for them.

What Happened To Kit Lender After Shark Tank?

Kit Lender Company did not get investment in Shark Tank but despite that many viewers found this business idea quite interesting. Ever since this company has been started, many competitors have been formed.

In 2022, the annual revenue of this company was $1 million.

The company has partnered with several camping, travel agencies, and ski brands including Ski Butlers, Spring Creek Ranch, OvRride, ReserveAmerica Apex Club, and more.

As of August 2023, Is Company’s annual revenue is $1.5 Million.

Kit Lender Shark Tank Update

The Kit Lender business did not get a deal in Shark Tank but after this episode of Shark Tank aired, 25k visitors visited together. Right now we do not have much information available related to this business.

What Is the Net Worth of Kit Lender?

Kit Lender’s current net worth is an estimated $1 million. In today’s time, many outdoor rental service brands are performing very well. Gradually the competition is increasing in this industry.

Kit lender business was started in 2015 and now this business is going on. Founder Shinners has partnered with different travel agencies to grow this business.

This sporting goods manufacturing company is headquartered in Stowe, Vermont, United States, and employs 11-50 people.

Yes, Kit Lender is still in business as of April 2024.