The SneakErasers are a unique dual-sided sponge designed for specific shoes. 9 pairs of shoes can be cleaned through its one-sponges. SneakErasers company appeared in Shark Tank Season 12 Episode 23 for funding.
This dual-sided sponge is white and orange and the orange part is super-soft chamois, So it works on any delicate or sensitive materials on the shoe. With this dual-sided sponge, a sneaker shoe lover can clean dirty shoes anywhere.
There are many people who like sneakers very much and they prefer to take sneakers of some specific brands only. The price of that sneaker is much more expensive than a normal sneaker. That’s why sneakers always try to keep their shoes clean and safe.
Sometimes it happens that some dirty dog etc. gets on the sneaker, which spoils the look of the shoes. Shoes go first on the foot, it is normal to be dirty. However, white shoes tend to be the dirtiest.
To clean the expansive sneaker, casual, sports, and kids shoes from dirty stains, SneakErasers presents its dual-sided sponge product.
SneakErasers cleans the stains on the shoes very easily without water, in just a few minutes it depends on the stain size. Be it any brand of expansive shoe like Louis Vuitton, Gucci, Christian Louboutin, Miu Miu, Jimmy Choo &, etc.
This sponge is needed by everyone whether it is male or female because no one likes to make their shoes dirty.
The global footwear market size is huge, according to the 2020 report, it is worth $365.5 billion and is growing slowly.
Chris Pavlica and Kevin Consolo, founders of SneakErasers Company, asked Sharks for $200,000 for 8% equity to grow the business. Lori Greiner and Alex Rodriguez invested $200,000 in this company in exchange for 20% equity (10% Equity) each.
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, footwear industry, shoe accessories, and sneaker cleaning.
SneakErasers is a simple solution to remove dirt from shoes. The dual-sided sponge of this product comes in white and orange color 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.
One sponge of this product can clean 9 pairs of shoes. You can take it with you and go anywhere.
SneakErasers has made another product which includes Sneakerasers Bundle, AutoErasers Bundle, GolfErasers Bundle, PurseWipes + Bundle & Auto/Golf Combo!
All these products can be easily purchased from Amazon.
|Founder||Chris Pavlica and Kevin Consolo|
|Product||clean-tech erasers that clean your shoes|
|Asked For||$200k for 8% equity|
|Final Deal||$200k for 20% equity|
|Shark||Lori Greiner and Alex Rodriguez|
|Episode (Shark Tank USA)||S12 E23|
|Air Date||May 7, 2021|
|Business Status||In Business|
|Net Worth||$1 Million *estimated|
|Headquarters||Upper Arlington, Ohio, US|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of SneakErasers?
Chris Pavlica is an Entrepreneur & Film Director as well as the Founder of FTI Brands LLC whose sub-brand is SneakErasers.
After completing his studies at Ohio University in 2007, Chris became a film director at BRC Imagination Arts and worked in it for 13 years.
In 2008, he started a company named Pavlica Inc in Los Angeles, in which he was the executive producer.
In 2016, he founded FTI Brands LLC because his shoes were dirty.
Kevin Consolo is the Co-Founder / COO, this FTI Brands LLC company joined it in 2019.
After completing his marketing studies at Ohio University, she worked as a communications coordinator at Nationwide Better Health for two years.
In this ECRM, he has worked in different job positions for 7 years. He was the National Account Manager for 1 year in The Unknown Brewing Company, he left this job in 2019.
SneakErasers Before Shark Tank
FTI Brands means “Free To Innovate” It reflects the life journey of these two business partners. It was both Guys to do 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.
Although his sneaker had become dirty, he started scrubbing with hand sanitizer for 20 minutes to clean it. This gave him the idea that a simple solution should be found.
To solve this problem, Chris called his friends 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.
How Was The Shark Tank Pitch Of SneakErasers?
Founders Kevin & Chris Enter Shark Tank with SneakErasers and ask Shark for $200,000 for 8% equity at a $2.5 million valuation. Very well, he gave a demo session of his product and also flirted with Barbara. It also told the innovative story of the product.
This sponge costs $1.98 to make and is sold for $9.99. This 1 count package is on sale at Walmart for $3.99. They had done a lot of tests regarding the sales of the product, they started with 100 retail stores. He did this test for 4 to 5 months.
At the start of this business, Chris invested a home-equity line of credit worth $300,000. After the last week, he became debt free and there is no debt on him yet.
After completing 2019, he earned $202,000 in that year. So far this business has generated $1.1 million in 2020 (This sales data is for July & August). By the end of 2020, he is expecting to make $1.8 million. 12% of all their sales come from e-commerce.
Kevin made his offer to this business for $200k for a 15% equity. Chris says it’s too much equity and he can’t give up right now. Barbara does not like products other than theirs and she is out.
Lori & Alex teamed up and made an offer of $200k for a 20% equity. Mark is also interested. His offer to invest in this business was $200k for a 12.5% equity.
Chris & Kevin countered Mark for $300k for a 10% equity and Mark out of the business after listening to the Entrepreneur’s counter.
After this, the entrepreneur’s asked Lori & Alex can reduce the equity, but they said no. Finally, Chris & Kevin agreed to Lori & Alex’s offer.
Finalize: Lori & Alex invested $200K in SneakErasers in exchange for 20% of the company’s equity.
What Happened To SneakErasers After Shark Tank?
SneakErasers had great success after Shark Tank. Many people came to know about this product which will clean the dirt from their shoes.
After this product Shark Tank, many people bought more than half a million sales from Amazon and its website, which it completed this year.
Shoes feel dirty, but people use this product to clean them instantaneously, they get stains out of their shoes.
Good Morning America featured this product and it was included in my 2022 Father’s Day Gift Guide on Amazon.
SneakErasers are getting a lot of 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.
SneakErasers Shark Tank Update
This episode got a lot of love from the people, many businesses came into it which is unique. This business has also got a good deal in Shark Tank.
This product is currently available in various retail stores including Krogers, Wal-Mart, Costco, and many other retail locations.
In March 2022, the brand published on its Instagram accounts that its product was available in Australia’s Coles supermarkets. Its lifetime annual revenue in September 2022 is approximately $5 million.
What Is SneakErasers Net Worth?
The annual revenue of this company is estimated at $5 million in 2022. However, this company had signed a deal with Shark for $1 million. We expect SneakErasers’ net worth to be $1 million.
Is SneakErasers Still In Business?
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.