In episode 407 of Shark Tank, Aaron Krause pitches his original and exclusive scrubbing pad to the investors. Professional detailer Aaron Krause founded the cleaning supplies company Scrub Daddy in 2012.
Scrub Daddy can clean a variety of household items, from dishes to patio furniture. It automatically adjusts its rigidity based on the water’s temperature. Scrub Daddy is renowned for producing sponges in the shape of a happy face.
Sponge material consists of a polymer with varied textures. It softens when placed in warm water and hardens when placed in cold water. Aaron operates a successful automotive aftermarket business and designed Scrub Daddy, a pad for cleaning car mechanics’ hands.
One day, he realized that Scrub Daddy performed effectively in the kitchen when cleaning the house. Aaron transformed Scrub Daddy into a household product and landed on QVC!
What is Scrub Daddy & its net Worth?
Aaron Krause established Scrub Daddy in 2008 as an American manufacturer of cleaning supplies. Not to mention Smiley Sponge, which opened the door for Aaron Krause.
And after all that effort, in 2019, on the ABC reality show Shark Tank, Scrub Daddy obtained the greatest income of any product, which is incredible, right? And once more in 2022, Scrub Daddy accomplished a total worth of $250 Million.
According to Investopedia, Scrub Daddy has generated more than $200 million in revenue since 2012, when Greiner invested $200,000 for a 20% interest. Greiner helped sell 42,000 sponges in under seven minutes on QVC. She purchased ten of the top twenty most profitable products presented.
Who Is The Scrub Daddy Founder?
Aaron Krause, an entrepreneur, and inventor founded Scrub Daddy. In 1992, Aaron graduated with a bachelor’s degree in psychology from Syracuse University.
The subsequent year, he founded his first business, Dedication to Detail, Inc. Before launching his second business, Ion Tech Wear, he worked almost sixteen years with this organization.
Scrub Daddy was his third and most profitable business. He has served as CEO and President since May 2012.
Before Shark Tank, Scrub Daddy’s Condition:
Aaron Krause’s story is one of the most well-known start-ups. He started with a small car-washing business in the 1990s, which grew into a large US-based company that sells buffing pads for cars all over the world.
Aaron Krause made his own line of buffing and polishing pads after he damaged his own car while cleaning it. In August 2008, the company was bought by 3M, a global conglomerate. 3M decided not to buy Krause’s sponge ideas and instead let them stay with his company.
Five years later, when Krause learned that the temperature changed how stiff the sponges were, he started using the leftover sponges to clean his dishes and lawn furniture. I used one inside to wash dishes because it worked so well.
In one of his interviews, he said, “That’s when I realized that the foam’s stiffeners changed with temperature, getting soft in warm water and hard in cold water.” After that, Krause decided to put his experience to better use by applying for season four of Shark Tank.
After Shark Tank, what happened to Scrub Daddy?
In January 2017, Scrub Daddy made more than $100 million in sales, making it the most profitable product on Shark Tank. Since the pitch in December 2021, the company had sold more than ten million items and made more than $50 million.
Based on how it makes money and how it runs its business, the company is worth $209 million as of October 2019. Lori Greiner, an investor, says that Scrub Daddy has made $75 million in sales over the last three years.
In the future, the business plans to make and sell other things, such as screen cleaners, sponge Caddies, and seasonal colors. Also, they want their products to be sold in all of the big stores in the United States and in a few places overseas.
They want to make their business headquarters bigger. They bought the building next door, which doubled the size of their space to 80,000 square feet. The company started out in a space that was only 5,000 square feet.