Saturday, September 30, 2023

Rescue Ready After Shark Tank Update 2023 – Where Are They Now

Rescue Ready Before Shark Tank

Rescue Ready was officially founded in 2019 by firefighter co-founders Eric Hartsfield and Brett Russell. Their invention allows anyone, young or old, to escape from fires through their windows in a quick and timely manner. Upon receiving their patent, the co-founders went on Shark Tank seeking $75,000 for 15% of their company. Rescue Ready received and faced some difficulties after Shark Tank. Annual Revenue for Rescue Ready in 2023 is unknown.

Home fires are extremely dangerous; Over 2,500 people die each year as a direct result of house fires in the United States. Many of the victims are children and elderly who aren’t able to get to safety in time. In a fire, the safest escape route is often a window; to utilize that route, one would need a ladder. However, by the time the average person finds a ladder and places it outside the window, it would be too late. Firefighters Eric Hartsfield and Brett Russell knew the problem and came up with a solution: Rescue Ready!

Rescue Ready Shark Tank 3Rescue Ready is a compact rescue ladder built into a room’s window frame. The rescue ladder can be unpacked and used within seconds to escape a burning building. Rescue Ready ladders are adjustable in length to best suit a room’s height. Rescue Ready also ensures its ladders are durable using aluminum and nylon webbing; the product has also been tested and meets ASTM Standard F2175. Since the ladder is built into the window frame with a wooden panel, it is not only a necessary safety tool but also blends in with the room’s design.

Brett owns a landscape company in addition to Rescue Ready. Eric had experience installing windows, so he was able to work on the technicalities of the product. Both co-founders met while working as firefighters. With over 25 years of service as firefighters, Brett and Eric knew the dangers of fires; what works and what doesn’t. They believed that Rescue Ready would prevent many lives from being lost if installed in every house. The co-founders wanted help partnering with a window company and navigating the business for their startup, so they decided to go on Shark Tank.

Rescue Ready on Shark Tank

Eric Hartsfield and Brett Russel were on season 11 of Shark Tank to pitch their company, Rescue Ready. They explained the dangers of a house fire and how a person usually has less than three minutes to escape a burning home. Searching and setting up a rescue ladder would usually require too much time, which could eventually lead to injuries and even fatalities.

Eric and Brett selected two volunteer Sharks, Barbara and Rohan, to help with their demonstration. Barbara had to use the Rescue Ready window-installed ladder, while Rohan had to scour under a bed for a normal rescue ladder. Barbara finished her task in minutes while Rohan struggled and three minutes slipped by without him ever getting to set up the rescue ladder. The Sharks were impressed with the demonstration and wanted to know more about the company.

Rescue Ready Shark Tank 2The co-founders stated they had not yet begun selling their product, but that was because they had been waiting for their patent before going public. They claimed that the optimal way to sell their product would be through window manufacturers; that way, Rescue Ready ladders would be pre-installed in each home, making it safer for everyone. The Sharks didn’t like that idea.

Eric and Brett were seeking $75,000 for a 15% stake in their company. They claimed the Rescue Ready ladder would cost manufacturers $90. Rescue Ready only takes a 6% royalty from the manufacturing company. Lori had some concerns; she didn’t think manufacturers and contractors would care enough to spend $90 to install a Rescue Ready ladder. She said it was a consumer product and not something a manufacturer should be worried about. The other Sharks agreed with her.

Brett confessed that they hadn’t yet asked window manufacturers to use their product but believed that with the right marketing, a manufacturer could sell a Rescue-Ready-ladder-installed house easily to parents and caretakers looking to provide safety for their children.

Mark Cuban liked the idea but admitted he wasn’t much of a residential guru, so he was out.

Barbara Corcoran believed it would be too difficult to get window manufacturers to use the product, so she gave the co-founders some helpful advice and was out.

Kevin O’Leary agreed with the other Sharks and was the next out of the tank.

Lori Greiner pronounced her love for firefighters but didn’t make an offer; she was out.

Rohan Oza stated that he wished Eric and Brett had come to the tank having already made a deal with a window company; that way, it would make it easier for him to invest in the company. They didn’t, and he didn’t think it would be easy for any window manufacturer to use their product, so he was out.

With not a single Shark taking a bite out of their company, Eric and Brett had to leave the Shark Tank empty-handed. They believed in Rescue Ready’s potential to save lives, so they will continue working on their business without the help of a Shark.

Rescue Ready Now in 2023 – The After Shark Tank Update

Rescue Ready Shark Tank 1After failing to raise money on Shark Tank, Eric and Brett decided to go on Kickstarter. Their Kickstarter goal was $225,000. Rescue Ready raised $66,608 within 45 days on their Kickstarter Campaign. Rescue Ready was not deterred by not meeting their Kickstarter campaign’s goal; they instead decided to launch Rescue Ready Retrofit, which is the same ladder as before, but it comes with a plastic cover that fits with the room’s d├ęcor. Rescue Ready Retrofit allowed the company to sell directly to consumers without having to partner with window manufacturers. However, Eric and Brett are still seeking window manufacturers willing to partner with them.

As a result of the Covid-19 Pandemic, Rescue Ready had to delay shipping its products to customers in 2020. Shipments, which were expected to arrive at customers’ doorsteps by December of that year, were postponed to July 1st, 2021. Customers understood the reason for the delay and waited patiently for their Rescue Ready Retrofit fire escape ladders.

Now in 2023, Rescue Ready continues struggling with resources, especially plastic, to produce and ship their ladders. Backorders were flooded, and Rescue Ready was struggling. Fortunately, Rescue Ready found a solution: they shipped the essential ladder parts while the company continued to work on the plastics. Rescue Ready also provided customers with the option to replace their plastic cover with a custom-length wooden one free of charge. Customers were enthusiastic, and soon, Rescue Ready was able to fulfill their backorders by the middle of 2023.

Rescue Ready continues building its online presence while providing customers with a way to save lives during a house fire. Eric and Brett, as experienced firefighters, are doing their best to help people be safe during fires. Annual Revenue in 2023 for Rescue Ready is unknown, but it is expected to have grown since the company’s appearance on Shark Tank. For more updates and information about Rescue Ready, visit the company’s website here.

Omar Sheikh Alard
Omar brings a love for novels and anything tech-related to the Gazette Review. Fun fact: he was the reigning chess champion at his high school.
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