Graffiti Removal Services Before Shark Tank
He states that he used to work for the city of Sacramento, where he used to pain light poles, but he would always see graffiti on the light poles, to which he decided to start a business to remove all of the graffiti. Paul Watts states that graffiti in the USA alone is a huge issue, and is found in almost every community, which brings down the value of real estate. He also states that he wants to franchise his Graffiti Removal Service and get a GRS truck in every city in the USA. There is a huge market out there for graffiti removal, which is why it is a great opportunity for the Sharks to get on board.
Graffiti Removal Services During Shark Tank
“Paul Watts walks slowly and confidently towards the Sharks and stands in front of them”
Paul Watts starts his presentation by introducing himself to the Sharks, and tells them that he is the founder and owner of Graffiti Removal Services. He states that Graffiti Removal Service is the world’s first mobile graffiti-removal franchise. Paull Watts is looking for an investment of three hundred and fifty thousand dollars, in exchange for a fifteen percent ownership in his company.
Paul Watts continues his presentation by saying that in 1998, he was working for the city of Sacramento, as a facility maintenance painter. But it wasn’t until a Saturday morning, where he was volunteering for a community cleanup, that he notice a huge sense of civic pride. At that moment he came up with the idea that he could create a service that could not only benefit the community that he was living in, but also allow him to make some part-time money on the side. Paul Watts states that he will show the Sharks how easily and effectively he can remove graffiti with a biodegradable product, which is nontoxic and non-damaging.
“Paul Watts starts to clean up the graffiti from a stop sign”
While Paul Watts is applying his product to the stop sign, he states that his products can be applied to the graffiti directly, which allows you to safely and effectively remove all graffiti by just rubbing over it with a clean cloth.
“Robert Herjavec says that he is impressed and asks Paul Watts why he has so many trucks”
Paul Watts answers the question by saying that Graffiti Removal Services is not just about his products, but is about a whole system. He states that his products are proprietary, and that they complement the business as a whole. Both the Graffiti Removal Services trucks and products need to work hand-in-hand, in order to make the system work.
“Robert Herjavec asks Paul Watts if he developed the special graffiti removal products”
Paul Watts answers the question by saying that he did not develop the products, but that he invented the system. Paul Watts states that the cleaning products come from another manufacturer, and that you cannot own a Graffiti Removal Services franchise without using those cleaning products.
“Barbara Corcoran asks Paul Watts if anyone else can purchase the graffiti cleaning products, without owning and operation a GRS franchise”
Paul Watts answers the question by saying that you cannot get those specific graffiti cleaning products in any of the regular outlet retailers. However, you can purchase them directly from the manufacturer, but the name of the manufacturer is hidden.
“Kevin O’Leary states that he gets the civic duty aspect of Graffiti Removal Services, but asks Paul Watts how he is planning on making money for his investors”
Paul Watts answers the question by stating that there will be royalty and franchise fees.
“Kevin O’Leary asks Paul Watts if he has sold any franchises”
Paul Watts answers the question by stating that he has not sold any franchises yet, and that he got approved as a business only a month and a half ago.
“Kevin O’Leary asks Paul Watts if he got any revenues at all”
Paul Watts answers the question by saying that he does have revenue in the form of a company-owned location in Sacramento, which generates two hundred and thirty thousand dollars a year.
“Daymond John asks Paul Watts what he is netting out of his revenue”
Paul Watts answers the question by saying that he nets about seventy five thousand dollars.
“Robert Herjavec asks Paul Watts how much it costs to buy a GRS truck, cleaning machines and cleaning products”
Paul Watts answers the question by saying that the low-end in getting into Graffiti Removal Services as a franchiser is sixty thousand dollars.
“All of the Sharks seem shocked to hear about the costs”
Kevin O’Leary states that he believes that there is a business here, but that the problem is that three hundred fifty thousand dollars for fifteen percent of the company means that Paul Watts is valuing the company at over two million dollars. This is a problem because Paul Watts has not sold a single franchise yet.
Paul Watts states that he has based the value of his company on his location in Sacramento and the rate of growth that he is experiencing.
“Kevin O’Leary states that a two million valuation is a huge number, even though Paul Watts hasn’t sold a single franchise yet”
“Paul Watts asks Kevin O’Leary what he thinks a fair price would be”
Kevin O’Leary answers the question by saying that he would have to get a hundred and ten percent of Graffiti Removal Services, if he would be investing three hundred and fifty thousand dollars.
Paul Watts states that he thinks that his franchise is already developed, and it has already been approved. He also states that his company does not have any debt at all.
Barbara Corcoran states that she doesn’t understand how a person that purchases a Graffiti Removal Service franchise is going to convince a municipality to change their ways, and to try a new product, especially in a government system that is nothing but red tape. Barbara states that she doesn’t get it and doesn’t buy it, and for that reason she is out.
Kevin Harrington states that he has a fundamental problem. He states that Paul Watts’ success is based on the amount of franchise fees that he is going to receive per month. Kevin Harrington continues by stating that, once a person has bought into the Graffiti Removal Service, why would he keep sending Paul Watts a monthly check, because he would be earning money and won’t need Paul for anything anymore. Kevin Harrington states that he doesn’t believe that GRS will work as a franchise business and that he is out as well.
Daymond John states that Paul Watts does not have anything proprietary, not the machines, not the idea and not even the chemicals. He also states that as soon as Graffiti Removal Services becomes more popular, the chemical company is going to make its products available for retail. Daymond John states that for that reason, he is out.
Robert Herjavec states that he will offer three hundred and fifty thousand dollars, but he will have to own seventy five percent of the company. Kevil O’Leary states that he will go in on Robert Herjavec’s offer, and makes the same offer.
“Paul Watts thanks the Sharks but says that he doesn’t accept the offers”
“Robert Herjavec states that Paul Watts is making a mistake by not accepting the offers”
“Kevin O’Leary sarcastically states that he will never think about GRS again”
“Paul Watts responds by saying that, every time that Kevin O’Leary sees graffiti, he is going to wish that he invested in Graffiti Removal Services”
“Robert Herjavec asks Paul Watts if he is sure that he doesn’t want to accept the offer”
Paul Watts answers the question by saying that there is no deal to be made here, and that the deal they are offering him is a real shark’s deal.
“Kevin O’Leary demands that Paul Watts turns around and go away”
“Robert Herjavec states that Paul Watts is going to get run over”
At the end interview, Paul Watts states that the offer would have made him an employee of his own company, and that there is no way that he is going to allow somebody to tell him what to do, when he knows it the best.
Graffiti Removal Services After Shark Tank – 2018 Update
There is no mention of Graffiti Removal Services being the best or worst on Shark Tank. Three out of the five Sharks did not want to invest in Paul Watts’ company, due to the fact that the believed it would never work as a franchise. Kevin O’Leary and Robert Herjavec made a joint offer of three hundred and fifty thousand dollars, in exchange for a seventy five percent stake in GRS; however, Paul Watts did not accept this offer.
Graffiti Removal Services still exists today, and you can find more information by going to their website at www.removegraffiti.net. On their website, you can see several before and after pictures, which show you how effective GRS is at removing graffiti. You will also be able to read about the different methods of removing graffiti and see pictures at the Community Outreach page. On the Graffiti Removal Services website, you can also order different kinds of cleaning products and tools, and check out the fees for graffiti removal.
There is no clear price for the removal of graffiti, due to the fact that the fees vary according to several factors. These factors include physical location of tag and substrate, size of tag, method used to apply tag and the amount of product that has been used. You can also purchase removal products, safewipes, accessories and volunteer kits. The prices range from anything between $9,99 and $185,00.
People seem to be really happy with the services that Graffiti Removal Services provides, and especially with the cleaning products. There are a lot of websites with very positive reviews, stating how easy it was to remove graffiti tags off of their property. Apparently, other business started to use the same cleaning products that Graffiti Removal Services uses, and they thank them for finding out about these products. It does not seem like Paul Watts was able to successfully start a franchise, but at least he is making a lot of people happy with the graffiti cleaning services that he provides.
