Since appearing on Shark Tank, ReadeREST has experienced tremendous growth and success. Ricks idea grew into a viable product, and he traveled along the west coast attending trade shows in search of a market for his paper clip, which eventually evolved into stainless steel. Yes. One of the more memorable and enigmatic pitchers to the show, Rick Hopper tripped his way onto the set to demonstrate his product Readerest (formerly SpecSecure). Growing up, he didnt receive any formal education, but he loved to tinker with different things in his home. After Shark Tank, Lori promoted ReadeREST on QVC, and it sold out within five minutes. Crank (2006)as Camera and Electrical Department, Underworld: Evolution (2006)as Camera and Electrical Department, The Dentist (1996)as Camera and Electrical Department, Reeker (2005)as Camera and Electrical Department, Your email address will not be published. It also wont damage your clothes whatsoever. In 2011, the company launched a self-titled restaurant in Alexandria, Va. and presented at the 2012 World Business Forum. This company was established in 2018 and started selling its product at the end of 2018. ReadeREST SpecSecure: Shark Tank Update After the Show. Subscribe to Well Adjusted, our. The companys business model is direct selling as they sell their products directly to consumers through their website. John has been a long-time Shark Tank fan. Shark Tank Success Shark Tank ReadeREST SpecSecure: Shark Tank Update After the Show. To help viewers of the show find out more information about the products and services that were on the show, John created SharkTankSuccess.com. They have secured additional funding and partnerships, leading to an estimated net worth of 5 Million USD. After some consideration, Rick harper accepted an offer for all of the money at 65% equity. However, his creative spirit was greater than his hardship. Whether you're looking for readers to use daily or in specific occasions you can rely on Readerest glasses to give you premium protection and functionality. By 2015, ReadeREST brought in $13 million in sales and expanded its offerings to include reading glasses. Customers can contact the company directly through their website or email. Get Rick Hopper's email address (r*****@readerest.com) and phone number (714-240-..) at RocketReach. So now you want us to give you the money, work, and then pass off our connections. Rick was left stammering, and Daymond was out. One of the smallest products featured on Shark Tank, ReadeREST inventor, Rick Harper, pitched the idea over 10 years ago. He landed his first job at Home Depot as a department supervisor and pro sales trainer. Earlier this year Hopper said that the company has made $8 million in total sales since appearing on "Shark Tank." . Its regrettable, but its been established that hes not a salesman. The founder, Rick Hopper, started using readers after turning 40 and began habitually losing, scratching, and dropping his glasses. The storage device, known as PlateTopper, is a plastic, storage container-meets-suction device that keeps itself fastened to a plate and makes storing leftovers more convenient. Save my name, email, and website in this browser for the next time I comment. News on all your favorite celebs, reality TV, and movies. But if it makes you feel better, more than 50 per cent of those "great" ideas that are OK'd on air don't end up sealing deals for investments off-camera. 972 East Green Street #922, Pasadena, CA 91101. Hoppers contribution to the world of business and venture capital is remarkable, and it is clear that he will continue to lead the way for many aspiring entrepreneurs in the future. Instead of focusing on his high potential sales that were prevented by the production bottleneck, he compared Ricks valuation of ReadeREST to the cost of the patent itself. In this article, well take a closer look at the quick facts you need to know about Rick Hopper and his journey to building a $5 million empire of ReadRest. From a young age, he constructed monoliths with Lincoln Logs and ERECTOR sets. And who could forget another one of those "Why didn't I think of that?" While their first year's revenue by the time the show aired was a measly $5000, the sauce has been bringing home the bacon since, with roughly $4 million in annual sales. Loris partnership with Rick caused the company to grow significantly as she urged him to leave his garage and establish a manufacturing facility for Readerest. Previously he was gluing every magnet in his garage! Readerest Net Worth During the Shark Tank pitch, Rick Hopper mentioned that his company, Readerest, was valued at $1 million. This article originally appeared on Business Insider. "Why didn't I come up with that?" The entrepreneur, Rick Hopper, asked for $150,000 in exchange for 15% equity. As a way to exemplify the pursuit of happiness to her young son, stay-at-home mom Raven Thomas decided to follow her dream of entrepreneurship and created The Painted Pretzel, a company that sells sweet and salty chocolate covered pretzels. Like many other entrepreneurs, he had humble beginnings. While she pointed out, on the show, that the male sharks were gobbling up the cake but reticent to make a deal, Barbara saw the irony and stepped up with the offer of $50,000 for 25 per cent. Press Esc to cancel. ReadeREST has grossed $39 million in retail sales in just 7 years since airing on Shark Tank. In the follow-up, he revealed that theyve sold more than $1.4 million dollars worth of products since their initial appearance. On the ReadeREST blog he mentions hisHang Track, whichkeeps clean clothes from falling off your door trim onto the floor (video below), and Did-It, which is a patented product made to help people manage their medications, among others. And new ReadeREST designs feature flowers, hearts and wings, Swarovski crystals, and pairs of sunglasses. The only drawback is that some of the decorations (e.g. Readerest's Net Worth. After his window business failed in the late 2000s, Rick developed Readerest as his second attempt to commercialize his creativity. For instance, restaurants and food trucks require a large initial investment that small businesses may not be able to afford. About the Founder Rick Hopper was raised in Anaheim, California, before moving to Fullerton. js.src = "//forms.aweber.com/form/55/1545091855.js"; The ReadeREST (also called SpecSecure) has appeared several times on QVC. Despite no deal being solidified with Lori Greiner during the due diligence process after the show, he continues to sell regularly, and successfully, on QVC. While still working on TrimQuick, Hopper already planned to start another business for his eyeglass problem. Inclusive of all her products, Lori Greiner points to a 90% success rate. Somewhere along the way, I also realized the importance of balancing work with hobbies, excercise and personal development. Hoppers contribution to the world of business and venture capital is remarkable, and he will continue to lead the way for many aspiring entrepreneurs in the future. I'm not sure that he's going to land a deal with The Sharks. ReadeREST got featured on Shark Tank America in February 2012. Yes. After the show, ReadeREST received a Shark Tank bump and sold out within five minutes on QVC. Saving arguments about the valuation for later, the sharks asked if he had a patent, followed by some brief confusion. $150,000 from Lori Greiner in exchange for a 65% equity split in ReadRest. ReadeREST is a prime example of this, as it has continued to grow and expand since its appearance on the show. The inventor of ReadeREST, Rick Hopper of Orange County, California, pitched his $1.4 million business on Shark Tank in 2012. Friends began asking where they could buy the ReadeREST, and Rick took this as his opportunity. Rick disliked the hassle of reading glasses, and his first prototype of a bent paper clip and magnets was a hit, keeping his glasses secure even after he injured his shoulder in a fall on an electric skateboard. Take it or leave it. At his breaking point, Rick did admit that even thirty-five percent of what could be a ten million dollar company is exciting. The process involves placing an online order and paying for the product. Many have also commented that its well-designed; the magnets are super strong and the backing is sturdy. As a Son of an. A doctor with an interest in food storage seemed an unlikely opener for this pitch from Michael Tseng in 2014. As usual, Mark concealed his intentions until the end to see how the deal would play out. As a music teacher for over 30 years, Travis Perry knew a thing or two about the challenges kids faced when learning chords on the guitar. Squatty Potty Bobby Edwards was successfully able to pitch his company Squatty Potty to the sharks and land $350,000 in investment capital from Griener and fellow shark Kevin O'Leary. *Amazon and the Amazon logo are trademarks of Amazon.com, Inc., or its affiliates. A product that simple may not have impressed the Sharks, but lets see how it went way back in 2011 when Harper boasted his product (and his personality) on Shark Tank. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Hopper has more inventions up his sleeve. You can find the SpecSecure product in stores all over the country and on Amazon. (949) 799-2165. After a window business rocky end in the late 2000s, ReadeREST was Ricks second attempt to take his creativity to market. Rick pitched ReadeREST as a $1 million value, asking for $150,000 in return for a 15% ownership stake in the company. The Sounds of East Los Angeles, best boy electric: insert unit - as Richard Hopper, TV Series rigging best boy electric - 1 episode. With $140,000 in orders she needed to fill and merchandise already available in Neiman Marcus, as well as a $2 million deal with Sam's Club that she had to walk away from, Thomas needed help, fast. Disney ABC Television Group / Getty-Images Honorary shark for the day Richard Branson, who has an impressive $5.1 billion net worth as of 2018, expressed his excitement to be included on the show by saying, "I've never been interested in making lots of money - I like creating things. To keep Daymond on board, Rick had offered greater equity, so he was willing to budge, but giving up a controlling interest in the company was hard for him to stomach. The creators came up with the flavoured duo stick lip-balm after their time in University saw them honing their make-out skills. Readerest is a business selling magnetic eyeglass holders. After much consideration, Hopper accepted a $150,000 investment from Lori Greiner in exchange for 65 percent equity. Nowadays, they offer more than 20 types of magnetic eyeglass holders. An example of data being processed may be a unique identifier stored in a cookie. At age 40, he needed glasses to read. How many times have you watched an episode of Shark Tank and pondered that question, while some guy in updated camouflage or a girl with a cat toilet pitches the practical applications of their products? For more details, visit this page. I create things. Today, it brings in $5 million annually. Immediately after airing on the show, Costco called to inquire about stocking the companys products, while NASCAR teams approached the business about partnership opportunities, and Country singer George Strait requested that the company sponsor his upcoming concert tour. SIC Code 50,504. Over the past three years, Scrub Daddy has brought in a total of $75 million in revenue, according to investor Lori. In 2012, ReadeREST was getting so many orders that Rick Hopper couldnt keep up. ReadeREST is a U.S. based company best known for a magnetic eyeglass holder, also called ReadeREST (pronounced Reader Rest) [1] History [ edit] After turning 40, founder Rick Hopper started using readers and began habitually losing, scratching and dropping his glasses. The Sharks' first inquiry concerned whether Rick had obtained a patent on ReadeREST. She put the product on QVC, and it sold out in five minutes. Another magnetic eyeglass holder named Spexwear and Magneglasses is the primary rival. She believes he needs someone like her to put it on display and TV is the perfect medium. At best, I saw this as a knick-knack that was sold as gas stations. Unable to see the value that Lori did, he bowed out. The ReadeREST (also called SpecSecure) has appeared several times on QVC. What Happened To Ice Cream Canteen After Shark Tank. Manage Settings After the show, Greiner promoted Readerest on QVC, and it sold out within five minutes. The sharks were dumbfounded at his sudden development of business skills and jokingly speculated that they were being hustled. Get 5 free searches. He even created a powerful neodymium magnet from leftover metal. ReadeREST's founder, Rick Hopper, has a net worth of 1.75 Million USD as of 2023. Blessed with perfect vision for most of his life, as he got older, Rick didnt like dealing with the hassle of reading glasses. Blog [ January 26, 2023 ] . Price-wise, they all go for $15.99. ReadeREST is a massive winner for both Rick Hopper and Shark Tank's Lori Greiner. After days of researching and comparing all models on the market 2021 , JohnHarvards find Best Readerest Net Worth of April 2023. The success of ReadeREST has freed Hopper up to focus on other ideas he plans to manufacture and market with the help of Greiner. also read: Alexiou Gibsons Net Worth in 2023 Shark Tank Sea Moss Gel Founders Success Story, 2023 Geeksaroundglobe Powered by | All Rights Reserved. Not that it matters to the 8 million viewers tuning in every week to watch what happens in front of the cameras for the 0.4 % of applicants that actually make it through the audition rounds for a spot on air. Is The Readerest Shark Tank Still In Business? Supervisor or Pro Sales Trainer at the Home Depot and Founder of TrimQuick. Sales shot up even higher after airing and in 2014 she expects to reach $1.15 - $1.5 million in revenue. Dewey from Malcolm in the Middle. View Rick Hopper's business profile as Founder at ReadeREST. Reader Rest rerun from Season 3, Episode 302 Update. Im a little gun-shy in giving up total controlling interest in the company without a complete buyout option, with royalties he offered. He hails from Anaheim, California. She enjoys laid back island living, crossword puzzles that aren't too hard, and gardening. They've since added five other products, including an all-purpose spice rub, and today their products can be found in more than 3,500 stores in U.S., Europe and Canada. The companys success is a testament to Ricks hard work and dedication to his craft, as well as Lori Greiners expertise in product development and marketing. Greiner reassured Hopper that she would make him a millionaire. Long-time viewers of the show will no doubt remember this adorable pitch by young mom Tiffany Krumins.
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