The Paint Brush Cover on Shark Tank

A trio consisting of two brothers and a family friend have just stepped into the Shark Tank. Sal and John DePaola, brothers, and Anthony Caputo all represent The Paint Brush Cover created by Likwid Concepts, and have come to the Shark Tank seeking $50,000 in exchange for a 10% stake in their company.
John starts with his story; between the three of them, the trio has over 60 years in painting experience. Not just canvas paintings, but big room paintings and even murals, too; the three are professionals. However, through the years, one thing has bothered them the most, and anyone who paints can relate that there is never a convenient location or time that you can set the paintbrush down to take a call, drive your children somewhere, or anything else without causing the paint to dry out or get ruined.
Sal admits that he thinks they have revolutionized the painting industry with just a piece of plastic, and they finally reveal exactly what The Paint Brush Cover is. Sal admits that maybe the Sharks have seen something like it and maybe own something like it, but they came up with it; since the Paint Brush Cover has a unique, airtight design, they can store paint brushes for weeks at a time without worrying about the brush drying out. This can easily save any painter hundreds a year in money.
Robert asks if that is true, and the trio says that they have tested it for a period of up to 3 months at a time. They even have a brush with them that they’ve carried all around their travels, and it’s still wet. Robert says that he is finding hard to believe that the solution for saving your paintbrushes is so simple, but Sal says that the plastic container stores close to 100% humidity. It’s the same idea as tupperware; if you put paint in a tupperware container and leave it on a shelf, properly sealed, the paint will still be in liquid form when you open it months later.
Kevin asks how many Paint Brush Covers have been sold, and so far the trio has sold 17,000 units for a total of $35,000. Nearly 50% of that revenue has come in over the course of the past 3 years, John says. Each unit costs $.41 to make, and they are sold for $2 to a retailer. Retailers then sell each Paint Brush cover for around $2.99. Robert asks how Paint Brush Covers are all sold, and Sal explains that they started off selling from door-to-door in an old-fashioned sense, and nobody said no. They actually went to 3 stores this morning, and all 3 of those stores purchased units.
Lori asks if the trio has tried to sell to companies like Lowe’s or Home Depot, but Sal says at the current moment, they are working on selling to Wal-Mart. They do have distributors, however, and these distributors are in 6 different countries. Lori and Barbara also admit that, like Robert, they can’t believe there isn’t a product out there like The Paint Brush Cover – it just doesn’t seem possible. The three said that between them, they do have at least 20 years of professional painting experience, and they used to rely on saran wrap but got tired of having to re-wrap and unwrap every time it came to painting.
Mark returns to the business at hand, and asks what the trio will do with the $50,000 investment they came to the Shark Tank seeking. The first thing they intend to do is restock the inventory, as they actually have letters-of-intents (bills of intent to begin manufacturing by a certain date) for hundreds of thousands of units. Bunning’s, “the Home Depot of Australia,” are in talks with the trio who wanted a quote for 250 pallets. This would be around $450,000 in revenue generated. However, Mark brings up that he sees a red flag; why did the trio only ask for $50,000 knowing that they could potentially have a sale which requires much more capital?
Sal says that they feel confident enough in their company but don’t want to give up too much equity, which Kevin says is a smart strategy; equity now may seem cheap but in the end it will end up being expensive, especially if the company is a winner. Kevin starts with an offer, and says that he likes the product; he offers the $50,000 in exchange for 10% royalty on all the sales. He also says that they think they will need a lot more money, and he was only starting with what they asked for; Kevin offers a further line of credit, and says he sees promise enough in The Paint Brush Cover that he can help bring it to retail.
Robert asks if the trio are still open to deals, and John confirms they are. Robert offers $50,000 in exchange for a 20% investment in the company. Anthony asks what Kevin would bring to the business, which area he would be able to focus on, and Kevin says that royalties are his true incentive and that they would align their interests due to the sales generating Kevin money and the sales generating revenue to keep Likwid Concepts and The Paint Brush Cover afloat. Kevin says he would be focusing primarily on big box partners and moving the store, as he would only profit if sales are made, even if the sales are not profitable. Kevin says he can bring the buyers to the trio.
However, Anthony says he just wants the assurance that Kevin is interested in the company as well, and not just sales for the company. Kevin then offers a $100,000 cash bonus for only 5% investment in The Paint Brush Cover, which he says now further aligns their goals. Since Kevin would make about $.20 on each sale, this would allow him to start recovering his capital.
Lori makes an offer next, consisting of $100,000 at a 20% investment, plus if they were to accept the deal without further hesitation, she will put up another $100,000 which will go towards paying for the first purchase orders.
Lori says that she thinks the sales velocity will be so fast that they won’t be able to keep up with inventory. This makes the offer a $200,000 in exchange for 20%, and Lori says that she would easily be able to get The Paint Brush Cover onto QVC, a home-shopping network, and that she would also be able to move the product into stores like Wal-Mart, Home Depot, Menard’s, Lowe’s, and many, many more.
However, Barb also makes an offer, but Lori says that if they listen to the offer she will rescind the additional $100,000. Barb also points out that Mark hasn’t even made an offer. Sal, however, stops the Sharks and says that they know what they want to do. Sal instructs John to “go and get it,” and Sal dips behind the stage setup to pull out a shirt. In the end, the trio accept Lori’s offer without even entertaining an offer from Barb and Mark.
As the trio walk out, Barb admits that she was prepared to offer the trio a $300,000 investment in exchange for 10% equity and a $500,000 line of credit if they needed it. Lori made out like a bandit with her

investment.

One thing the Sharks didn’t know – the 3 Paint Brush Cover guys from New Jersey/New York were so well prepared for any question that came their way. Weeks of watching the show, writing down questions and answers, thinking of anything they may possibly say and studying them like crazy. Paint Brush Cover by Likwid Concepts is a unique, airtight, durable plastic cover that works as a storage and protective device for a paint brush. Designed with an airtight foam seal, it allows you to store your paint covered brush for hours, days, even weeks, without drying out. Making any paint job easier and more convenient.

The Paint Brush Cover Now in 2018 – The After Shark Tank Update

After seeing The Paint Brush Cover example, I got curious and felt I had to stop at the Home Depot on my way to go get some food. I asked an employee for help, and he actually told me that they had sold out of The Paint Brush Cover constantly. Checking their website, I found that The Home Depot vendors each Paint Brush Cover for only $3.88. It doesn’t need to be said that The Paint Brush Cover is selling outstandingly, and the product line has grown with their sales. Now, The Paint Brush Cover also offers Paint Roller Covers and DIY Painter Kits, offering total packages for painters who might want to redo a room’s colors by themselves. Download game for macbook pro free. The sky is the limit for The Paint Brush Cover, as they can be found in Home Depot, on the QVC network, in Lowe’s, and probably in many, many, many more stores across the United States and even the world.

Likwid Concepts The Paint Brush Cover. 5 Star rating out of 5; 1 Reviews Write a Review; Accommodates every size standard American brush from 3 Inches and below. The Paint Brush Cover is a Jackson-based company founded in 2011. See The Paint Brush Cover's revenue, employees, and funding info on Owler, the world’s largest community-based.

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A lot of people ask us how we got on Shark Tank and what it was like, so here’s our story!

Ever since we came up with our first prototype, everyone would ask us the famous question – “When are you going on Shark Tank”. Sal, being a huge fan of the show since day one, always laughed about the possibility of getting on and pitching the product on National TV in front of 5 BIG TIME Investors. The guys always laughed, said, “yea we should”, and shrugged it off.

Then one day, Sal spoke to John and Anthony and decided to look further into. They knew if they got on TV then the world would know about them and their product. They also knew if they struck a deal, with one Shark Specifically (wink wink), they would get their product out there with lightning speed and then would be able to create more products to help make the life of a painter much easier.

Since they did everything unconventional, Sal looked for a different route to get on the show. Something that would stand out. He somehow got the email of a producer from the show and sent a detailed email about the business and about the background story. To his surprise, he received and answer right away, but saying that season 4 filming was done, they liked the idea, and they would consider them for next years filming.

6 months went by and no answer. Lots had happened in the 6 months, so Sal went back to the old email and replied to it with an update since the original email was sent. Again to his surprise they sent a quick response. This time with great news. The producers loved the story and asked when they can get on a call. It just so happened that there was a company meeting the next day. The producers called at the exact time they said they would and instantly knew they would be a hit. They weren’t sure if it was the great product, the thick NY accents or the background stories. It was probably a combo of the 3. A few months later, they were flying out to Los Angeles to film for Shark Tank!

After meeting the producers, coming up with a pitch, watching every single Shark Tank episode over and over to be prepared for any question and practicing for a few days, it was finally time to enter the Tank! They were so prepared, or so they thought.

The 3 walked into the tank, John with the lead, walking as fast as he usually does, and almost knocking down the cameraman. They then overshoot the “x” on the floor by a good 5 feet. Almost face to face with the Sharks. After the producer says “take 3 giant steps back”, and the most awkward 1-minute of camera silence you can imagine (yes they had to stare at the Sharks without saying a word for a full minute), the producer says “Begin”.

It started of smoothly in the introductions. They each introduced themselves to the Sharks. One favorite part that was cut out was when Anthony said, “We’re from New Jersey”, Sal stopped him and said “ Whoa …wait a minute. I’m from NY!” then John and Anthony answered “Yea whatever. You’re from NY”. The Sharks got a kick out of it. The joke broke the ice.

Everything looked great. Sal was going through the pitch, when all of a sudden –Oh Nooooo! He forgot his lines!! You don’t notice on TV but he actually said “Oh F#*$”. But thankfully Johnny was quick to his rescue and helped him get back on track. Little did they know that the screw up would actually help them out. It was the second icebreaker and actually made the sharks laugh again.

The Paint Brush Cover Net Worth

After a laugh, John aced his lines, and Anthony, the best speaker of the bunch, breezed through his. Now for the fun part! Time to get bombarded with all crazy questions and have Mr. Wonderful degrade them on National Television. One thing the Sharks didn’t know – the 3 Paint Brush Cover guys from New Jersey/New York were so well prepared for any question that came their way. Weeks of watching the show, writing down questions and answers, thinking of anything they may possibly say and studying them like crazy. They even knew who would answer which question.

It started off very smoothly with every Shark paying close attention. They couldn’t believe it was never invented before. Robert was in total shock. They asked a bunch of questions and the guys had answers for them right away. The sharks knew these guys knew their business. They all fell in love with the fact that as soon as the guys got to the West Coast, they went door to doors to stores selling covers. And made sales!!!

The Paint Brush Cover Walmart

Within 10 minutes, Kevin made the first over. The Usual royalty deal. 10% for 50k. Robert, almost immediately, then offered 50k, no royalty, for 20%. A little steep, but a starting point. Of course, Kevin knocked his offer. Then Kevin came back with a second offer of 100k for 10% royalty and 5% stake in the biz. The guys weren’t shocked that a bidding war was starting. They knew the other Sharks were lurking.

Just when it seemed quiet and Kevin tried to rush a decision, they noticed a huge smile on Lori’s face. That’s exactly who they were waiting for. They came into the tank targeting Lori (They actually fought to pitch to her and not Damon but that’s a whole nother story). Lori jumps in with an offer of 100k for 20%. The boy’s eyes lit up, especially John’s. Then right after Lori’s offer, Bammmm, Barbara jumps into the feeding frenzy!

Barbara was about to make an offer when Lori stopped her dead in her tracks and tells us that if we listen to her offer then she’s out! The guys were in total shock! Barbara and Lori now in a cat fight over them! They couldn’t believe what was going on. And Cuban was still lurking there, smiling. Before Barbara could speak again, Lori ups her offer to 200k for 20%. “Wow!” they all thought. This was now getting way better than they imagined.

Paint Brush Protectors

Now for some not seen on TV stuff. We then stop the catfight, and ask Lori if she would partner with Barbara. Without even blinking, Lori says “Absolutely not! You guys are the next Scrub Daddy!”. Whoaaaaaaa. She just compared them to the highest grossing Shark Tank product ever. That was a HUGE compliment.

They knew they came in for Lori and they didn’t want to blow it. Just to be sure, they asked if they could talk alone for a minute. Thankfully Lori said yes. The guys went into the hallways, discussed for a couple minutes and all decided that they came in for Lori and did not want to blow it by listening to Barbara, or even Cuban for that matter.

They came back out on the stage. All 5 Sharks staring them down. Kevin with his usual recap. Immediately, we said we know what we want to do. John says to Sal, “Go get it”. Sal goes behind their display to grab a T-Shirt and says to Lori, “Lori, Welcome to the team”!

They shook everyone’s hands and walked down the hallway with their heads held high. Still wondering what Barbara’s offer was and if Cuban would have jumped in (No Sharks went out!). They did wind up receiving word that Barbara’s off was for 300k and a 500k line of credit. Wow! But they knew they made the right move by going with Lori and knew that the best was yet to come.

The rest is history………….