Ever since it appeared in Shark Tank Deal season 12th, the popularity of Grease Monkey Wipes is skyrocketing. It is later believed to boost the company’s net worth in return.
Despite the successful deal with Shark Tank, Grease Monkey Wipes net worth remains unknown. It is due to the lack of information shared by the company.
Grease Monkey Wipes founders have not been public about the income they earned from the business so far.
However, it is understood that the company sold 7.600 wipes in the beginning of their business and when they appeared in Shark Tank. Meanwhile, the revenue of the company at that time was about $7.400.
But, again, the net worth of the Grease Monkey Wipes in 2021 hasn’t been made public. So, there is no way you can find out how much the company’s income earned this year.
After securing the deal with Shark Tank, the company’s development seems unstopped.
Generally speaking, Grease Monkey Wipes are heavy-duty tools. They are specially designed to clean your hands when you can’t find water or soap.
The wipes can be used to remove grease, lubricant, grime, oil, and dirt from various surfaces, including skin.
The wipes produce a nice smell since they are citrus-based and don’t contain any dangerous chemicals. Not only that but the wipes are also disposable and portable.
Being invented by Elen Whalen and Tim Stansbury, Grease Monkey Wipes sales keep increasing due to some good reasons.
The products are made of an unusual mixture of solvents. One of the ingredients used in the product is citrus oil. It is known to be powerful to get rid of grease while keeping the skin smooth.
The wipes are a great alternative especially if you can’t find water to clean up your hands.
How They Make Money
Speaking about Grease Monkey Wipes net worth 2021, you need to know how the company makes money.
Tim Stansbury stated in the Shark Tank Deal that the company sells wipes for $1 per package. When the founders of the company were asked if the business is sustainable, they delivered a convincing answer.
They said that millions of vehicles in the United States will help their business grow. The products of Grease Monkey Wipes then were sold $15.97 per box after the company’s acquisition by Beaumont.
A Business Deal with Shark Tank
The two founders of Grease Monkey Wipes appeared in the 113rd episode of Shark Tank to introduce their products.
They asked for an investment as much as $40.000 for 40% of the company stakes. Initially, not all of Shark Tank teams were interested in the proposal.
This is because they thought that the company’s profit margin was very low. Not only that but the products of Grease Monkey Wipes haven’t been patented.
However, an agreement between the company and Shark Tank was finally reached. Barbara Cocoran and Robert Harjavec agreed with the $40.000-investment for 40% stakes.