In this article, we will be looking at the 20 most successful Shark Tank products ever in 2023. If you are not interested in reading the details, you can skip to the 5 Most Successful Shark Tank Products Ever in 2023.
Shark Tank on ABC, which debuted in 2009 and is currently in its 14th season, has developed into a business equivalent of American Idol. Tens of thousands of small company owners compete year for the chance to present their goods in front of a nationwide audience of millions and close a deal with one of the show’s prominent investors.
Each season, around two-thirds of the nearly 100 entrepreneurs that make it on the show leave with a handshake agreement and detailed expansion plans from their investors. However, a review of 112 businesses that were given deals on the show’s seasons 8 through 13 finds that almost half of those deals were never finalized, and another 15% have altered conditions once the cameras are switched off.
Shark Tank Products To The Rescue
Millions of Americans lack jobs because of the coronavirus-caused economic downturn, and business owners are battling to stay open and need clarification about their future course. Due to this, the money-smart investors on ABC’s Shark Tank offered some financial guidance, including how to save, manage rent, and continue to be productive at home. In April 2020, the U.S. economy lost a record 20.5 million jobs, leaving many people needing clarification about how to cover bills like rent. In actuality, during the first week of April 2020, approximately one-third of American renters of apartments failed to make their payments.
Some people campaigned for rent strikes and demanded that the federal government impose rent freezes and provide aid. According to CNBC, a temporary ban on evictions has been implemented in many jurisdictions to safeguard renters amid the pandemic. The numbers behind Shark Tank are genuinely staggering. With over $221 million pledged by the Sharks on screen, it’s no surprise that so many entrepreneurs vie for the chance to appear on the show. Of the 1218 products pitched, 729 managed to secure a deal, with an impressive success rate of 59.85%. The average investment per deal is just over $300,000, with average equity taken at 24.99%.
However, these figures have changed significantly over the show’s 14 seasons. One of the original Sharks, Mark Cuban, has invested the most significant amount, a whopping $61.5 million, and has struck the most deals on screen (218). On the other hand, Kevin O’Leary has appeared in most episodes (291) and seen the most pitches (1161). Interestingly, Mark Cuban also entered into the most partnerships in total (104), with Lori Greiner being his most frequent partner (42 times).
Regarding states and territories, California leads the way in terms of deals struck (196) and money invested ($64,346,000). However, when the population size is adjusted, it’s D.C. that comes out on top, with an average of 10.2 deals struck and $4,314,439 invested per million residents. On the flip side, South Dakota and Wyoming have 0 appearances on the show.
These numbers highlight the enormous impact that Shark Tank has had on the world of entrepreneurship and the varied landscape of opportunity and investment across different regions of the U.S.
Shark Tank has developed into a powerful platform for entrepreneurs to receive visibility and financing for their cutting-edge goods and services throughout the years, in addition to being a great source of entertainment. The show has featured many outlandish and bizarre pitches, but it has also featured some truly incredible ideas that have improved many lives. The Shark Tank Products are readily available on Amazon.com, Inc (NASDAQ:AMZN).
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Our Methodology
For our methodology, we have ranked the 20 most successful shark tank products ever in 2023 in ascending order based on the total number of sales generated as of May 2023. To ensure accuracy, we have taken the data points from various reliable sources, including Hustle Story, among others.
Here is our list of the 20 most successful shark tank products ever in 2023.
20. ReadeREST
Total Number Of Sales Generated: $8 million
Rick Hopper, a former Home Depot manager, had a moment of inspiration when he couldn’t find his reading glasses. He developed a solution called ReadeREST that enables users to securely clip their glasses onto their shirts, preventing them from falling out of their pockets or getting lost during everyday activities such as bending over. Lori Greiner saw the potential in this invention and invested $150,000 in exchange for a 65% stake.
ReadeREST made its first appearance on QVC and sold $100,000 worth of products, skyrocketing its valuation to approximately $27 million. This success is a testament to the product’s usefulness and ability to meet everyday people’s needs.
19. Kismet Waves Shirt By Buttercloth
Total Number Of Sales Generated: $12 million
Buttercloth is a clothing firm that produces stylish and comfortable shirts made from cotton with just the right amount of tension. Founder Danh Tran has successfully positioned the brand by introducing unique Icy Cotton ingredients in the fabric to keep wearers cool in the summer. The button-down shirt comes in a regular or slim fit and is available in various colors and designs.
Buttercloth’s appearance on the popular T.V. show Shark Tank significantly boosted the company. Danh Tran reported that the brand made $500,000 in sales within just two weeks after the episode aired. It is a remarkable accomplishment that helped launch Buttercloth’s career. As a result, the company’s projected net worth has climbed to over $15 million, indicating its ongoing success in the fashion industry.
18. Bangles By Bala
Total Number Of Sales Generated: $20 million
Natalie Holloway and Max Kislevitz, the creators of Bala, strategically decided to partner with Mark Cuban and Maria Sharapova in business. In exchange for a 30% ownership stake in the company, the deal was priced at $900,000.
Since partnering with these business icons, Bala has expanded its product selection to include bars, beams, and other items. However, the bangles remain the most popular item among consumers. Despite the expanded product line, Bala has continued to focus on creating high-quality, stylish fitness accessories. This approach has helped them build a loyal following and grow the business.
17. Ribs By Bubba’s Q
Total Number Of Sales Generated: $21 million
Former NFL player Al “Bubba” Baker presented his unique rib product to Daymond John on Shark Tank, and since then, his company Bubba’s Q has seen exponential growth in sales. In 2017, sales exceeded $16 million, up from $154,000 before appearing on the show.
The exclusive ownership of the deboning and cooking processes has given Bubba’s Q a competitive edge in the market, and the product is now available both online and offline. Additionally, they recently partnered with Carl’s Jr. to offer their ribs exclusively online. As of 2023, Bubba’s Q has a net worth that exceeds $16 million.
16. Smart Reusable Notebook By Rocketbook
Total Number Of Sales Generated: $40 million
The creators of Rocketbook, which produces erasable notebooks that can send notes to cloud services such as Alphabet Inc. (NASDAQ:GOOG) ‘s Google Drive, appeared on Shark Tank in 2017 but did not receive funding. However, with $32 million in sales in their 24th year, BIC acquired them for $40 million in 2020. Their reusable notebooks, which come with Frixion pens compatible with any Pilot Pen, have become popular back-to-school items.
The notebook allows users to take notes, which can then be easily scanned and uploaded to Alphabet Inc. (NASDAQ:GOOG) ‘s Google Drive through the Rocketbook app. This feature allows users to store their notes in the cloud, making them accessible from any device with an internet connection. Additionally, users can choose from various file formats, such as PDF or JPEG, when uploading their notes to Alphabet Inc. (NASDAQ:GOOG) ‘s Google Drive.
15. Lobster Rolls By Cousins Maine Lobster
Total Number Of Sales Generated: $67 million
Cousins Maine Lobster started as a small business in L.A. selling lobster rolls. They appeared on Shark Tank and received a $55,000 investment, which they quickly paid back with sales. The company has since expanded and now sells a variety of seafood options, including live lobsters shipped overnight from Portland.
14. Pop-up Cards By Love Pop
Total Number Of Sales Generated: $80 million
Lovepop, founded by Wombi Rose and John Wise, uses 3D shapes and planes to create intricate pop-up cards. They appeared on Shark Tank in 2015 and accepted Kevin O’Leary’s $300,000 offer for 15% ownership. Lovepop has since earned over $80 million and has a net worth exceeding $100 million. Rose and Wise were inspired by their background in naval architecture and aimed to bring their passion for design full circle to ships.
13. Hair Roller By Sleep Styler
Total Number Of Sales Generated: $100 million
During the eighth season of Shark Tank, Damon Greiner was immediately intrigued by Tara Brown, the founder of a hair roller company. He proposed investing $75,000 for a 25% equity position, but Tara rejected the offer, wanting to keep more shares. Despite this setback, the product gained popularity with the help of celebrities like Kim Kardashian and Rachel Zoe, resulting in over $100 million in sales and securing its place among the top shark tank items.
12. Flowers By The Bouqs
Total Number Of Sales Generated: $100 million
The Bouqs is a thriving online flower company that saves customers up to 80% by eliminating mediators and reducing extra costs. Before appearing on Shark Tank, they had already secured over $1 million in venture capital funding. The company made around $120 million in sales during its first year, and after striking a deal with Robert Herjavec, they have sold over $100 million worth of merchandise. The Bouqs continues to attract new investors and customers, and as of 2023, its net worth is approximately $10 million.
11. Sweaters By Tipsy Elves
Total Number Of Sales Generated: $117 million
Nick and Evan secured a $100,000 investment from Robert Herjavec on Shark Tank, enabling their company, Tipsy Elves, to sell tacky holiday sweaters on Amazon.com, Inc. (NASDAQ:AMZN) and generate over $10 million in sales in 2015. Before filming, Mendelson, one of the founders, visited Panda Express and found inspiration from his girlfriend’s fortune cookie. Since then, Tipsy Elves has continued to grow and its products are mainly available on Amazon.com, Inc (NASDAQ:AMZN). As of 2023, the company’s net worth is $20 million.
10. Smartphone Sanitizer By Phone Soap
Total Number Of Sales Generated: $150 million
PhoneSoap has experienced a surge in demand due to the Covid-19 pandemic. The PhoneSoap 3 products, which use U.V. light to disinfect phones while charging, have sold out multiple times in a year. U.V. radiation is known for its effectiveness in destroying bacteria, making PhoneSoap a useful product during the pandemic. As of 2023, the net worth of PhoneSoap is $13.5 million.
9. Pancake Mix By Kodiak Cakes
Total Number Of Sales Generated: $160 million
Kodiak Cakes is a brand that has made a notable effort to incorporate more whole grains and protein into their pancake mix. Although the company did not receive any compensation during its appearance on Shark Tank in 2013, it experienced a pivotal moment when health-conscious carbohydrate enthusiasts embraced their product. Sales increased significantly from $54 million in 2017, and they now rank fourth on shelves. In addition to their pancake mix, they also sell ready-made waffles and pancakes in the freezer aisle.
8. Training Board By Simply Fit Board
Total Number Of Sales Generated: $177 million
The Simply Fit Board is a training board that helps with core strengthening through twisting and leaning movements. Sales had already surpassed $1 million before it appeared on Shark Tank in 2015. Even though sales have declined since then, the product is still available in over 50,000 retailers globally. It was the first workout board to be featured on Shark Tank, with the company currently having a net worth of approximately $128 million.
7. Kitu By Super Coffee
Total Number Of Sales Generated: $200 million
Jordan DeCicco, the youngest DeCicco brother, founded Kitu Super Coffee after realizing that sports energy drinks had a high sugar content. With the help of his older brothers, they created an organic coffee beverage with lactose-free proteins and beneficial fats from coconut oil. Before appearing on Shark Tank, the company had generated $600,000 in sales in its first two years. During the show, Kitu Super Coffee was valued at $200 million, and today its valuation is between $70-150 million, making it one of the most successful misses in Shark Tank history.
6. Squatty Potty By Squatty Potty LLC
Total Number Of Sales Generated: $208 million
The Squatty Potty, which helps maintain a squatting position, was featured on Shark Tank in 2014, and the Edwards family secured a deal with Lori Greiner for $350,000 in exchange for a 10% stake in the business. By the end of 2017, the company had generated over $33 million in sales. Research has shown that squatting is easier on the body than standing or sitting upright, according to WebMD. While squatting can be done without the tool, the Squatty Potty is helpful. It is one of the most popular products to appear on Shark Tank.
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Disclosure. None: The 20 Most Successful Shark Tank Products Ever in 2023 is originally published on Insider Monkey.
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