Shane Panell, a stay-at-home Dad from Arizona, comes to the Shark Tank in episode 205 with his product, the Clean Sweep. His experience raising three children has led him to believe that there must be an easier way for dealing with the crusty, sticky, stuck-on messes that come with raising small children. He invented the Sweep Easy to alleviate the need to bend down to scrub and scrape messes before they can be swept up. Working in his garage, he’s come up with a prototype and approached schools, movie theaters, and other markets. All claim they would purchase the product, but as yet, he has no purchase orders.
Will the Sharks be impressed with Panell’s product? Will he sink to the bottom of the Shark Tank, or make a clean sweep with his new twist on an old broom?
Clean Sweep Shark Tank Recap :
A 15% stake in Michael’s company would cost him $1.5 million. Clean Sleep, he says in the opening of his pitch, will transform the way you sleep at night. Who knows how much dead skin, perspiration, and other bodily fluids are trapped in the mattress you’ll sleep on
tonight? His method is so effective that it even kills bedbugs.
UV light, dry steam, and power vacuums are used in the 15-minute procedure. Two of his trucks are currently operational. Robert becomes impressed as the product is demonstrated
to him. When Michael was disgusted by lying on a bare mattress, he came up with the idea for the system. According to him, a home customer’s mattress should be cleaned every six months at the very least. Because they washed and sanitised their mattresses instead of
replacing them, the company has 30 hotel customers and saved one hotel $100,000. The average person, he claims, will wash their sheets, but never bother to vacuum or wash their mattress.
It costs $89 to launder a single mattress, and Mr. Wonderful considers this a bit excessive. With just one vehicle, Michael is easily able to make $100,000 per year and sold his first
franchise for $400,000. He made $75K in sales in his first year in business and made a profit. According to Lori, the machines should be sold to hotels.
Michael recounts his experiences. His aunt in San Antonio helped him find a place to stay after he ran away from home at the age of 14. When she took him to visit his grandparents, he discovered that there are those who sit back and watch things happen,
and there are people who actively participate in the process. In order to obtain his “Masters in Google, Yahoo, and Bing,” he was hired by Boeing.
Leasing the equipment to hospitals and running a trial programme are two other ways to make money, according to Mark. Although Mark isn’t interested in purchasing another truck, he does promise to be a customer if you ask for $150K for a new one. After hearing more about the business, Michael decided he didn’t want to be a part of it; he’s out of the
project. In Barbara’s estimation, it will be some time before she sees a return. However, it will take a lot of time, therefore Lori has decided to withdraw from the project. There is no way Mr. Wonderful can afford to pay $1.5 million to learn something he doesn’t.
Clean Sweep Before Shark Tank
Michael Ingle, a male entrepreneur from Dallas, Texas, is the brains behind Clean Sleep. Clean Sleep is a mattress washing franchise owned and operated by Michael. He’s invented
a mattress dry cleaner that’s portable and can be used anywhere. In Michael’s specialised cleaning truck, the entire operation takes place. A Clean Sleep expert will use UV light, steam, vacuums, infrared heat, and ozone to remove stains and odours from the mattress.
After the cleaning process, the mattress is dry and ready to be put back on the bed in about fifteen minutes.
Michael is well aware of the rivalry, but he believes that his speedy turnaround sets him apart from his rivals. For up to eight hours or more, many companies offering this service will not have the customer’s mattress ready for pickup.
Some hotels in the area had expressed an interest in having their mattresses cleaned by Michael’s mobile mattress washing business. His goal is to bring Clean Sleep to every state in the country. Because of this, he needs some aid to achieve his goal If one of the sharks
could help Clean Sweep get its feet under it, Michael would be grateful. Is Michael going to be able to get bitten by one of the sharks in the shark tank?
Clean Sweep Update After Shark Tank
In spite of the Sharks’ rejection, Michael heeded their advise. His redesigned website makes his service clearer to visitors, and he’s developing his firm one brick at a time by
updating his online presence. He’s establishing franchisees in the Texas area and is negotiating with hotels to supply them with catering services.
There may have been no Sharks to bite on Clean Sleep, but it has found a place in the hotel sector. In the future, he may be able to completely dominate his field.
According to the company’s annual revenue of $2.7 million as of April, 2021, this firm remains open
Clean Sweep Net Worth
With a bidding war ensuing O’Leary upped his offer to $50,000 for 20%, closely followed by Daymond John offering $75,000 for 33%. John’s offer came with a promise to help Shane not only set up the company, but also to introduce other products.
Robert Herjavec then waded in, partnering with O’Leary and offering another $40,000 if Shane accepted the licensing deal (taking the offer to $80000 for 40% equity). Following further discussion O’Leary agreed to alter the terms, offering $80,000 for 25%.
Eventually, Shane, swayed by the idea of keeping the product in house, rather than licensing with other companies, opted for an offer made by Kevin Harrington and Daymond John. The intrepid inventor gratefully shook hands to accept $80,000 for 25% equity.
STILL SWEEPING UP?
The Shark Tank appearance helped Shane and Sweep Easy to gain recognition, and the sharks came good on their deal to promote the product to a commercial audience.