Whatever Happened To SneakERASERS Shoe Cleaner After Shark Tank Season 12?
No matter how much care you put into avoiding puddles, dodging dirt, and sticking to the clean side of the pavement, your shoes are naturally going to show a bit of wear and tear over time. Walking outside is more than enough to rough up your soles and leave everything looking a bit grimy. There are plenty of ways to keep your shoes in like-new condition, but many require significant elbow grease or a damaging trip through the washing machine, all with less-than-stellar results. To solve this issue, Chris Pavlika and Kevin Consolo developed their product, SneakERASERS.
SneakERASERS are essentially just portable sponges designed to scrub away dirt and scuff marks on shoes. One side is rougher, allowing you to completely clear any marks and lift dirt, and the other is a smoother surface that can wipe away the residue. Their product is simple, easy to use, and fills a gap in the market, but succeeding as a business is much more complex than simply developing a good idea.
SneakERASERS on Shark Tank
Chris Pavlika and Kevin Consolo delivered their pitch for SneakERASERS on Season 12, Episode 23 of "Shark Tank." They came in strong, asking the stars of "Shark Tank" for $200,000 in exchange for 8% of the business, an offer that valued their company at $2.5 million from the start. Thankfully, they were able to back up this ask, sharing that the company was already officially debt-free and had raked in over $1 million in sales that year.
Thanks to the company's solid numbers, the majority of the Sharks jumped in to make an offer. Kevin O'Leary immediately offered $200,000 for 15%, but the pair turned him down because the equity was higher than they were willing to accept. Barbara Corcoran was out fairly quickly after that, thanks to the fact that they also began discussing other similar products they sell. After this, Lori Greiner and Alex Rodriguez offer 20% for $200,000 as a joint deal. This pair's equity is higher, but they had a more precise strategy to set SneakERASERS up in gyms and expand to e-commerce than the other Sharks. Mark Cuban offered $200,000 for $12.5%, but they ultimately went with Greiner and Rodriguez's offer after a bit of back and forth.
SneakERASERS after Shark Tank
The company behind SneakERASERS was already doing fairly well when its founders appeared on "Shark Tank," but it boomed even more with the help of Lori Greiner and Alex Rodriguez. Thanks to this deal, the brand gained significant access to marketing resources, not to mention the boost in awareness from appearing on a popular television show. According to the FTI Brands website, the company that SneakERASERS is sold under, they've expanded to sell GolfERASERS and AutoERASERS as well.
These individual lines are sold with more specific materials and applications in mind, but they all contain the same basic products: dry sponges that come to life with a bit of water and a cleaner or smooth cloth that's specific to the material. In addition to these three lines, they've also included an additional standalone product: PurseWIPES. These handy wipes are designed to clean out leather purses without scratching or over-saturating the delicate material.
Is SneakERASERS still in business?
Currently, it appears that FTI is in business and thriving. According to its website, the company's products, including SneakERASERS, are currently being sold at over 30,000 retail locations like Walmart, CVS, Kroger, and Albertsons. The brand also expanded its sales to include more online retailers, including Amazon and QVC, one of Lori Greiner's trademark moves.
During their pitch, the founders of FTI also mentioned that they knocked off their very own product in an effort to capitalize on sales across the board. While they don't share that they took this approach on their website — likely to keep the illusion of two separate brands — it seems that their budget brand, Shoe Eraser, is still available for sale and raking in profits as well. All in all, it looks like the business is succeeding across the board, and they're likely earning quite a bit of income for Lori Greiner and Alex Rodriguez in exchange for their additional publicity.
What's next for SneakERASERS?
As of right now, it appears that FTI is set with its current product lines. They haven't been teasing any new offerings on their social media pages lately, though they are quite active in posting videos, reviews from satisfied customers, and product photos. A recent video on Instagram shows Chris Pavlika surprising co-founder Kevin Consolo by putting the brand's logo on the infamous Las Vegas Sphere during the pair's trip to the city for a "Shark Tank" reunion.
Based on the duo's recent actions and success after appearing on "Shark Tank," it's equally likely that they'll coast with the products they currently carry or get to work on creating new lines of cleaning erasers for an even wider range of uses. Either way, it's clear that this brand is an example of one of the more positive success stories to come out of the deadly waters of the Shark Tank.