The Sweep Easy company is worth more than $10 million. Its founders share a quarter of the company with Daymond John and Robert Herejavec. The Shark Tank episode helped the company gain notoriety and exposure. Today, Sweep Easy comes in different colors and is sold in stores. Shane Panell’s plans are to expand the business to other areas. He hopes to make money off the growing need for Sweep Easy.
Back in 2011, entrepreneur Shane Pannell went on the second season of “Shark Tank” pitching his SweepEasy Broom. Pannell invented the broom, which has an accompanying and retractable scraper when he was a stay-at-home dad cleaning up messes.
Founder Shane Panell
The founder of the Sweep Easy company, Shane Panell, was a stay-at-home dad who struggled with cleaning up dried food in the kitchen. He scraped the dried food with a butter knife. Luckily, his invention solved that problem and made it possible to sweep up any messes. Shane’s Sweep Easy net worth is around $5 million. And with all the success, Shane hasn’t had to invest his own money in the business.
Struggling for his Consumers
However, he does not want to give up his ownership in Sweep Easy. He has been working on it for years and has made significant progress. He even made the decision to sell Sweep Easy directly to consumers, instead of through the TV advertising industry. Despite the risks and difficulties, Harrington’s net worth has soared to the point where he is earning $50k per episode. That’s a pretty decent return for a startup.
Business is still functioning
Unfortunately, the Sweep Easy company was unsuccessful with the Shark Tank deal. However, the Sweep Easy social media accounts appear abandoned. Nevertheless, the company’s website is still functional, and its equipment is being used by domestic disaster victims. Kevin Panell revived the Sweep Easy company in spring 2017. While Sweep Easy’s social media accounts may have been defunct for a while, its business is still functioning. Despite being on the verge of bankruptcy, it is still possible for Sweep Easy to achieve significant success in the coming years.
The company has been reintroduced in spring 2017 and updated their social media profiles. Its new website features enhanced deployment/retraction, as well as three different versions that come with replaceable scrapers. The Sweep Easy company’s annual net worth is estimated to be $1 million. The company continues to sell its brooms in its internet shop. Its annual revenue is just over $1 million. If it’s a booming business, then the Sweep Easy net worth may be worth at least as much.
The Sweep Easy product has attracted the interest of investors including Kevin O’Leary and Robert Herjavec. The two investors are considering licensing the Sweep Easy company to existing broom manufacturers. They will receive a twenty percent stake in the company in exchange for his 20% ownership. The Sweep Easy net worth may soon surpass $10 million. This company may also reach the $100 million mark if the Sharks agree to make a deal.
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