Mechanic Wipe entrepreneurs Tim Stansbury and Erin Whalen moved toward Shark Tank with a solicitation for $40,000 in return for a 40% interest in the organization. Erin had a punctured tire on one of their 100-mile bicycle rides together.
As Whalen got done, her hands looked built up with oil. While actually riding their bicycles, they started thinking about another compact cleaning gadget that could rapidly and advantageously eliminate oil and soil.
Together, they fostered the best item and sent off their firm after broad experimentation. Following a couple of months, Grease Monkey Wipes was highlighted on the Shark Tank Show.
The youthful couple entered Shark Tank with a nice valuation for their development still up in the air to get it.
Barbara Corcoran and Robert Herjavec offered them $40,000 in return for 40% of the stock in Grease Monkey Wipes.
What are Grease Monkey Wipes?
Mechanic Wipes are purging wipes that contain citrus removes, which make them ideal for hard core cleaning.
Tim Stanbury and Erin Whalen (and bikers!) introduced Shark Tank with their endeavor in 2010 in the principal time of Shark Tank.
Organization Name Grease Monkey Wipes
Entrepreneur Tim Stansbury and Erin Whalen
Product multipurpose cleaning wipes
Speculation Asking For $40,000 for 40% value in Grease Monkey Wipes
Last Deal $40,000 for 40% value in Grease Monkey Wipes
Shark Barbara Corcoran and Robert Herjavec
Episode Season 1 Episode 12
Business Status In Business
Website Visit Website
Who is the Founder of Grease Monkey Wipes?
Tim Stansbury and Erin Whalen are the organizers and makers of Grease Monkey Wipes.
Tim Stansbury, the colleague, and Erin Whalen were relaxation riders. While on one of these bicycle trips, Erin encountered a punctured tire, and Tim helped her in fixing it.
In spite of the fact that Erin cleaned her hand on the grass and wore denim shorts, she was unable to eliminate the oil. Tim and Erin examined settling this issue as these bike related on-street episodes happen habitually.
Erin Stansbury and Tim Stansbury investigated; they fostered an optimal item and figured out how to advertise it.
As per Erin Whalen, the item may not exclusively be utilized by bikers however may likewise be useful to others.
Mechanic Wipes Before Shark Tank
Erin Whalen and Tim Stansbury met through a preparation bunch quite a long while back and have stayed dear companions from that point forward.
Tim Stansbury says that their bicycle trips are in many cases in excess of 100 miles in length, and they make regular out and about fixes in no place.
Erin Whalen claims that she had a punctured tire during one of those hundred-mile bicycle trips, which Tim Stansbury helped her in fixing.
They considered fostering a framework that would determine out and about Fixitdifficulties considerably more rapidly after they got back to driving.
The item Erin Whalen created with Tim Stansbury is an ideal item molded by broad exploration and advertised amusingly.
Erin Whalen says the item has numerous different purposes that go past cycling.
Tim Stansbury accepts the Sharks will adore Grease Monkey Wipes since everybody they have conversed with has gone wild about them.
All Tim Stansbury and Erin Whalen need to do currently is get the item before the Sharks and persuade them to contribute.
Mechanic Wipes on Shark Tank
Tim Stansbury and Erin Whalen showed up in shark tank’s season one, episode 12. They sent off Grease Monkey Wipes, a line of separately bundled citrus-oil wipes.
Erin Whalen and Tim Stansbury showed up on Shark Tank mentioning a venture of $40,000 in return for a 40% stake in Grease Monkey Wipes.
At the point when Tim portrayed the item as a non-harmful, normal chemical for rock solid cleaning, Erin gave out examples to sharks. Stansbury accepts this is just the part that separates the oil.
Kevin O’Leary asks regarding whether the pioneer has licensed the item, to which Tim Stansbury answers that they have decided not to patent it for two reasons: first, the organization is new to the market and hence comes up short on assets to patent it; and second, when you patent an item, you should distribute your equation; by not having the patent, they can safeguard the recipe for some time prior to distributing it.
Kevin Harrington praised the plan and marking for the mechanic wipe, announcing it to be the best he had at any point seen.
Harrington then asks about whether the logo has been reserved, to which Erin answers that it has been.
Kevin O’Leary asked Tim Stansbury the number of wipes they that had sold, and Stansbury answered that since the wipes had just been available for a very long time, they had sold 7,600 wipes.
Whenever Tim is gotten some information about their income, he states it was $7,400. O’Leary contemplates whether this is reasonable.
Tim answers that as the quantity of vehicles enrolled in the United States develops, so does the market for Grease Monkey Wipes.
Daymond John pulls out from the game plan, expressing that it’s anything but a business for him. Kevin O’Leary follows up by expressing that he loved the item however needed restrictive privileges.
Kevin Harrington commented that the item isn’t unmistakable to him, while Barbara expressed that she hasn’t gotten used to the item adequately.
Robert Herjavec communicated interest in the item, and after Tim and Erin persuaded him that they would do all that could be within reach to guarantee the organization’s prosperity and not let them down, Robert assented.
After the arrangement, Barbara Corcoran states that she would make the arrangement since she enjoyed Erin.
Tim Stansbury and Erin acknowledged the arrangement of Robert Herjavec and Barbara Cocoran of $40,000 for a 40% stake of Grease Monkey Wipes.
Last Deal: Barbara Corcoran and Robert Herjavec consented to put $40,000 for a 40% stake in Grease Monkey Wipes.
What Happened To Grease Monkey Wipes After Shark Tank?
The matter of Grease Monkey Wipes became subsequent to joining forces with sharks. Barbara Corcoran employed people to help her in publicizing the organization.
Tim Stansbury had the option to reimburse the sharks thanks to this venture, which permitted the organization to develop. Erin Whalen at last offered the business to Tim Stansbury.
The organization was procured by Beaumont Products on November 17, 2014, for an obscure amount of cash.
Shark Tank have Tim Stansbury said the item costs $1 per bundle. He answered that 285 million cars, 30 million boats, and more than 6,000,000 bikes enlisted in the United States of America would add to the association’s turn of events.
A container of 25 wipes will be accessible for $15.97 on Amazon following Beaumont’s obtaining.
Tim Stansbury and Erin Walen likely had no clue about how well known Grease Monkey Wipes would become after the show. Along with Barbara Corcoran and Robert Herjevic, they are headed to fostering a public brand.
The item is doing great to such an extent that they were asked back to the Shark Tank in Season 2 as the Success Follow-Up Story in week five.
The organization expanded the quantity of areas from 40 to north of 500 over that period and sold more than 200,000 Monkey Wipes. Stansbury and Walen enjoy developed their side interest into an extremely effective full-time business.
Who are the Investors of Grease Monkey Wipes?
Mechanic Founders and Creators Tim Stansbury and Erin Whalen got an exchange of $40,000 for 40% of the stock in the shark tank, which was esteemed at $100,000 at that point.
Beaumont Products bought the Grease Monkey Wipes business in 2014 for an obscure total.
Who are the Competitors of Grease Monkey Wipes?
Tim Stansbury claims that Grease Monkey Wipes are all the more harmless to the ecosystem since they use citrus-based recipes and keep away from cruel synthetic compounds.
Mechanic Wipes keeps up with its administrative role among its main six rivals.
Speedy Information About Grease Monkey Wipes
Erin and Tim were both sporting bikers. That is the means by which they got to know one another.
Tim Stansbury examined how juice organizations press the oils utilized for wipes after they crush the natural products.
You can likewise clean indelible markers with Grease Monkey Wipes.
Client audits are quite often sure. Clients partake in that Grease Monkey Wipes can eliminate soil, indelible marker, and pastel stains notwithstanding oil and rottenness.
These wipes are not difficult to store in a vehicle or a rucksack since they are exclusively bundled. Stansbury and Whalen have extraordinarily acquired from their joint effort with Barbara Corcoran and Robert Herjavec.
What Is the Net Worth of Grease Monkey Wipes?
The valuation of Grease Monkey Wipes was $100,000 when it showed up on Shark Tank. The total assets of Grease Monkey Wipes is $1 million starting around 2022.