Saturday, October 1, 2022

Rent A Goat Update From Shark Tank – See How They’re Doing Now

Goats are pretty cute and they love to eat overgrowth
Goats are pretty cute and they love to eat overgrowth

The first thing noticeable about this presenter is the fact that he is escorting a trio of goats into the room for filming Shark Tank, as well as the man wearing the white cowboy hat; all of this elicits a humorous cry from the Sharks. The goats walk over to some shrubbery that has been laid out, and begin to feed themselves from it. Matt Richmond and Mike Aniday are the two heads of Rent A Goat, with Matt Richmond having founded Rent a Goat in 2009, shortly after graduating college. They are seeking $150,000 in exchange for 25% equity in their company.

Matt starts with an example – imagine a disaster far similar to the one standing next to him as he presents. What a mess, right? Usually, landscapers use machinery, or pesticides to clean up such a mess, which could have unwanted effects on the surrounding area of the shrubbery. But, there is an amazing green alternative to cancerous chemicals and gas-guzzling machines; goats. Rent A Goat is there to serve as an alternative to those looking to clear their land while remaining eco friendly, and even at a competitive price. All of this elicits a humorous reaction from the Sharks. Matt says demand has been outstanding for.

The Sharks ask Matt for more detail about the founding of Rent a Goat, which Matt says he founded shortly after leaving college in 2009 and got the idea for the company while visiting Moldova in Eastern Europe. There, they use goats attached to stakes which would allow the goats to circle around the stake and feed on the grass. After the goat fed on the entire circle, the stake would be moved to a different location where the goat could continue to feed. Originally, Rent A Goat served as a middle ground to link potential customers with goat owners, but since then, Matt has teamed up with Mike, the longest-lasting member of the Rent a Goat original website. Mike grosses over $600,000 simply renting goats, even before he met with Matt. Mike says that 450 goats eat around an acre a day.

The Sharks question exactly who would be ordering goats to clear their land; Matt says upon analysis of Mike’s business, 70% of them were homeowners and local municipalities. Mike gives an example for one customer from California, which paid around $70,000 for 130 acres to be cleared by the goats. This is far cheaper than machines, which would cost around $2700 an acre.

The aftermath of goats. Keep in mind, 450 goats can clear 1 acre in about a day - but they also fertilize as they eat

Cool Fact: Check out the picture to the left to see the aftermath of goats. Keep in mind, 450 goats can clear 1 acre in about a day – but they also fertilize as they eat

The Sharks continue to press for more details, which Matt says in five years that 450 goats should yield a return of around $650,000. The Sharks say that projections are worthless if Matt does not even know how he is going to perform in his first year, which Mark uses as an example to press Matt for more details that he does not have, but Matt gives the estimate of $200,000, which works out to be about $1,000 a day. Robert asks if there is an existing similar goat business, or if all of this is a brand new idea. Matt says that the website has existed since 2010, but this would be more from corporate.

1Still, the sharks do not seem convinced; all of them begin to launch questions at once, knowing exactly what their money is going to go towards and what they would own upon writing a check in exchange for some of the equity of Rent a Goat. Mark says that although they are the first to market, there are no barriers to entry – this can cause the market to saturate, and drive prices down, and Mark folds and is no longer interested in the investment.

Barbara says that the business potentially appeals to the “Mikes” of the world, who are required to invest an amount of time to do good and make things well for the future of the world. She does not see that as a lasting model, and she folds out of the bid as well and is no longer interested in investing. Lori says that she loves goats and she loves the idea of the business, but that she thinks it is simply too early for the business and is out as well.

Kevin says that if he wanted to own a business similar to Rent A Goat, he could go out and hire a goat farmer and start one himself, which Mike says that he bet Kevin probably couldn’t. Robert says that he admires the idea, although the business plan is all over the map which is the strongest show that turned him off, and is out as well. Kevin says that he does not think the business is proprietary at all, and if it makes money, then Rent A Goat will have many many competitors shortly after, and folds out of the deal as well. Mike and Matt are ultimately left without an investment in Rent A Goat.

Rent a Goat in 2018 – How Are They Doing Now?

Shark Tank 2018 UpdateSince appearing on Shark Tank in 2016, Rent a Goat’s orders have more than tripled and sales have been steady since the appearance more than two years ago. Rent a Goat has been highly reviewed and loved as a fun, quirky program that works quite fast and gets the job done in a great and cute fashion. Rent a Goat has expanded its website to include more information about the program, as well as available franchise opportunities, and now also offer a free estimate program to anyone in any of the states that a Rent a Goat franchise is established in, due to the nature of not every location being suitable for Rent a Goat to allow their goats to feast upon.

Steven Kahn
King of the Bears, Shark Tank enthusiast, failed network engineer, sour cream enthusiast, Nanchaku instructor, Techman, Mega Man X fan, vaporizing know-how
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