Saturday, September 24, 2022

ScreenMend Update – See What Happened After Shark Tank

Screenmend before Shark Tank

Screenmend Directions
Screenmend Directions

Screenmend was founded by the Hooks family of Lily, Emma, and Brian who were trying to solve the common problem of patching a screen. Lily was only twelve when she came on the show while Emma was fifteen, but they had come up with a successful product and had interest from retailers. The patch Brian, their father, was using to fix the screen kept falling out so Lily recommended a screen with wax. After the patch stayed on for more than a year, they knew they had solved a problem and started creating the product out of their home. They had only sold around $4,000 worth of product before coming on the show. They also had a provisional patent, but not a utility patent as they had reinvested all the money back into the business. The family applied to be on Shark Tank by sending in an audition tape as they needed help in multiple areas and they were chosen to be on season five.

Screenmend on Shark Tank

The Hooks family entered the Tank seeking $30,000 for 25% of the company. The family explained how they were trying to patch a hole that their bunny made, but couldn’t get anything to stick which led Lily’s idea of using wax along with a screen. As Emma handed out samples to the Sharks, Lily demonstrated how to use the product by attaching it to a screen and blowing it with a hair dryer. Daymond asked for the numbers and Brian mentioned that they had only sold seven-hundred fifty units, but were selling them for $6.95 and it only cost them $0.31 to make the product along with $0.53 for the packaging.

The discussion then went back to the product as the Hooks family explained why Screenmend was better than competitors such as their product staying on longer. Robert asked Lily why they needed the money and she mentioned that they had interest from Bed Bath and Beyond and Home Depot, but the retailers did not like the packaging which is what the money would be used for.

Daymond was the first to mention that he loved the family, but that it would be too much work for him because the family did not have a business background so he went out. Kevin and Robert were also supportive and emotionally attached to the story, but went out for the same reason as Daymond. Mark jumped in and told the Hooks family a story of how a small investment helped him get a stamp business started when he was sixteen which he was really grateful for and wanted to provide the same support to the Hooks family. He offered them the $30,000 at 25% which is what they wanted. Mark said he didn’t know much about the business they were in, but could find people that did. Lily and Emma were eager to take the deal, but Lori quickly stepped in and made an offer of $30,000 for 50% and wanted Mark to go in with her. Lori said she wanted more equity because of the work she would have to put in such as taking over manufacturing, but did have the connections to help their product. Mark did not want to negotiate and stuck with his original offer.

The family stepped outside to discuss both deals as Brian explained to his daughters how Mark was being generous, but Lori was willing to do more work. Seeing the benefit in the latter, the Hooks family stepped back in and took Lori’s offer. Mark immediately congratulated the family and was not disappointed as he was happy to see them leave with a deal.

Screenmend after Shark Tank

Screenmend on QVC
Screenmend on QVC

Lori kept her promise after the Tank and help from her and the Shark Tank effect has allowed Screenmend to become a successful business. Lori got the product on QVC where they sold out on the first airing. Lori also provided them new packaging and, like many of her other deals, got Screenmend into Bed Bath and Beyond. Since airing almost two years ago, the Hooks family has grossed over $3,000,000, a huge step up in comparison to what they had before the show.

Screenmend is a great example of what the Sharks offer outside of money. Many would think it is insane to give up 50% of a company especially if the product has so much potential like Screenmend did. However, getting a great partner like Lori is definitely worth the equity as she has helped the family achieve so much that other companies would dream of getting. Screenmend continues to grow as they have gotten into more retailers and is one of the many great family success stories from Shark Tank.

Where can I buy this product?

Screenmend at Bed Bath and Beyond
Screenmend at Bed Bath and Beyond

Screenmend can currently be bought directly from the company’s website at www.screenmend.com and also on Amazon and QVC. Retailers that carry the product include Bed Bath and Beyond and Staples.

What do the reviews look like?                                       

Screenmend has mixed reviews on websites such as Amazon with the common concerns being the patch not staying on for too long and weather conditions like heat affecting the product. Despite these reviews, others have claimed that their patches have stayed on for long periods and that the simple solution is worth the price ones pays in comparison to alternatives. Lori recently mentioned, however, that they have updated the product with the help of her FiberFix partners. As one would assume, directions need to be followed in order for the product to work properly.

What are their sales?

About a year after airing on Shark Tank, Screenmend had done over $1,000,000. Since then, the company has done over $3,000,000 in sales.

Majid Khan
Majid is an Accounting Major at California State University, Northridge. Along with writing, Majid loves to spend time with his family, watch 90s shows, and help his campus and fellow students.
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