Sheets Laundry Club Before Shark Tank
Sheets Laundry Club is a business that was created as an alternate, more earth friendly way of doing laundry. The company has created a variety of products such as laundry sheets, floor cleaners, utensil scrub, dishwasher soap, and much more. They also have a line of car products for customers. Some of these care products are hand soap, plastic-free deodorant, and shampoo bars. Each of their products have been made with non-plastic, natural ingredients and are a great way to keep even household chores eco-friendly. In fact, their laundry sheets, for instance, are made in such a way that they will actually dissolve when in water. Sheets Laundry Club detergent sheets are all made of plants. These products can be found in bundles or separately on their company website.
Using Sheets Laundry Club detergent sheets are not only safe for consumers, clothes, and the environment, but they’re also simple to use. Just add a detergent sheet into the washer with any load of laundry. It’s best to use a half a sheet or one whole sheet for small loads, while big loads may need two or three sheets. Once the desired cycle is chosen and the washer begins the cycle, the detergent sheet will dissolve as it provides a fresh clean for the laundry.
Chris and Laurian Videau, are the founders that created Sheets Laundry Club. They launched their business in 2019; however, their story leading up to the launch is quite inspiring. Chris and Laurian both served in the military for a total of 27 years. Within those 27 years, they got to explore more than 20 countries. And, while the travels were quite the experience in itself, they came to a conclusion after visiting these countries and seeing the waters. They realized how bad of a global crisis plastic pollution has become for our planet.
This inspired them to find a solution that would help towards reducing the amount of plastic that shows up in the oceans. Once their time in the military had concluded, they got to work on brainstorming ideas and eventually thought of Sheets Laundry Club. When the company officially launched, it started as just a team of two between Chris and Laurian; however, it quickly expanded to a much larger team. Given the incredible, co-friendly concept of their company, they didn’t struggle too much while getting their business started. Nonetheless, they realized that they could us some guidance with their scaling growth and their digital marketing. They believe an investment and the help of a shark can help them with these goals.
Sheets Laundry Club on Shark Tank
Chris and Laurian Videau appear on Shark Tank, hoping that a shark will want to invest in their company, Sheets Laundry Club. They’re asking for a deal of $500,000 for a 5% quit in the company. They start their pitch with the story about their time in the military and how much plastic pollution they came across. They tell the sharks that they’ve come up with the idea of biodegradable detergent sheets as a means of reducing said plastic pollution. So far, the sharks love the concept. As a hands-on demonstration, each shark receives a water bottle and a detergent sheet. They’re advised to place the sheet into the water bottle and watch it dissolve. The sharks seem to be intrigued.
Chris and Laurian go on to talk about how the sheets are made, adding in that they are plant-based, and they don’t contain harsh dyes or chemicals like other regular detergents would. The conclusion of their pitch includes a final story about how the smell of plastic burning had affected them in the military. They then transition into sharing their sales with the sharks. Since the launch of the company, Sheets Laundry Club has reached a profit of $2.04 million in their sales. This amount includes the sheets and the sales of their other products; however, the sheets alone made them $1.2 million in sales. Given that they’re currently sitting at a profit rate of 24%, thy predict that they’ll hit $7 million in sales by the end of 2021.
Sheets Laundry Club does currently have a patent agreement in place with Kimberly Clark. The agreement requires that a royalty on it gets paid, but that is set to end in 2024. This information leads Barbara Corcoran to drop out of the deal. She states that the founders aren’t persuading her to invest, and she doesn’t agree with the royalty situation. At this time, Chris and Laurian mention that they have two ways that thy go about marketing their products: word of mouth and digital marketing. Kevin O’Leary has to drop out next due to him already having an investment with Blueland, which is a similar company.
Before a deal is offered, Lori Greiner and Mark Cuban give up on the deal as well. Lori tells Chris and Laurian that she loves the concept, but the equity they’re asking for isn’t interesting to her. Mark, on the other hand, says that he sees the company costing an investor too much money. He isn’t willing to do that. Considering every other shark went out on the deal, guest shark Daniel Lubetzky ended up being their only hope at leaving with a deal. Fortunately for the founders, Daniel would like to offer them a deal; however, he first asks if they’re sure they’ll reach $7 million in sales. They respond, telling him that they already make $3 million from their 21,000 customers. Daniel offers them $500,000 for a 10% equity. Chris and Laurian decide to counteroffer for 8% and Daniel adds a 2% for advisory shares. Chris and Laurian accept.
Sheets Laundry Club Now in 2023 – The After Shark Tank Update
The Shark Tank appearance for Sheets Laundry Club ultimately ended in a success with a deal from guest shark, Daniel Lubetzky. Overall, Daniel loves the company, and he actually tweeted that out in response to the Shark Tank episode. As for the company, while it hasn’t been formally stated, it’s believed that they must have received an increase in their sales following the episode.
The deal between Daniel and the founders has not yet closed. Sheets Laundry Club was, however, featured in WCNC, Fortune, and a few other well-known media publications. Additionally, the company started adding discount codes to their website, and they are working through the plans of opening physical stores.
Recently Sheets has been having to compete against a variety of upstarts in the laundry sheet space that offer virtually similar products at more affordable prices such as ACTIVE laundry sheets and other more established brands. Time will tell if sheets is able to compete in the long term