Highlights
- Business Concept: Knife Aid offers a mail-in knife sharpening service using skilled craftsmen to extend the life of quality knives.
- Entrepreneur Background: Mikael Soderlindh and Marc Lickfett, both with extensive careers in online marketing, founded the company to promote sustainability and safety in the kitchen.
- Process: Customers order online, receive a knife-proof envelope, and mail their knives to be sharpened and returned within 3-9 days.
Overview
| Category | Details |
|---|---|
| Name | Knife Aid |
| Founders | Mikael Soderlindh and Marc Lickfett |
| Industry | Mail-in Knife Sharpening Service |
| Product | Mail-in knife sharpening for various types |
| Headquarters | Malibu, California |
| Investment Ask | $400,000 |
| Equity Offered | 15% |
| Valuation | $2.67 million |
Mikael Soderlindh and Marc Lickfett hope to hone in on a Shark when they pitch Knife Aid, their mail-in knife sharpening service, in Shark Tank episode 1105. Both men have twenty some-odd year careers in online marketing. Lickfett is an 11 year veteran of King and McGaw (formerly EasyArt), which sells art prints and frames online. Soderlindh is also an 11 year veteran at Happy Socks, a Swedish online sock retailer. Both men hail from Sweden but now live in California.
The pair love surfing, so they headquartered Knife Aid in Malibu, CA. This allows them to hit the surf when there’s a lull. The idea for Knife Aid came about from the pair wanting a sustainable business that emphasizes reusing things we already have. Knife sharpening makes the life of a quality knife nearly infinite, but the craft was dying off. They use skilled craftsmen to sharpen their knives. Cooking and prepping with sharp knives is actually safer than using a dull knife. Dull knives cause people to use too much pressure and accounts for many more knife related injuries.
The actual process for sharpening your knives is simple. You order online and receive a knife proof envelope in the mail. Put the knives in the pre-paid envelope and ship it out to California. Once the knives are sharpened, they ship it back. Depending on where you live in the US, the process takes 3-9 days. Four knives cost $49 to sharpen ($12.25 per knife) and the per knife cost goes down with additional knives sharpened. They sharpen any kind of knife: pocket knives, steak knives, cleavers, scissors and more.
The guys know what they’re doing and probably want a Shark to help them expand their marketing. Will a Shark think this is a sharp idea?
Company Information
Video
Posts about Knife Aid on Shark Tank Blog
Knife Aid Shark Tank Recap
Mikael and Marc enter seeking $400,000 for 15% of the business. They tell their story and explain they’re looking for help with “channel and packaging strategies for the US market.” The Sharks are immediately impressed with the pair and the offers come flying.
Lori offers $200,000 and a $2000,000 line of credit for 20%, but the two men ignore her. Kevin jumps in and offers $400,000 for 20%. Then Rohan teams with Lori to match Kevin’s offer. Then Barbara teams with Kevin to offer $500,000 for 20%. Mark is quiet and he says he’s waiting to see what they do about their offers.
Kevin and Lori continue to passionately make their case and Mark accuses them of groveling. When the men step into the hallway, Lori follows them. Soon, Rohan, Kevin and Barbara join her. Aster some hallway negotiations, Lori and Rohan match Kevin and Barbara’s offer and the Knife guys do the deal with Lori and Rohan for $500,000 for 20%.
Knife Aid Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Lori and Rohan never closed. In February, 2020, the company appeared in The Shark Tank Greatest of All Time Special in the “greatest shark attacks” segment. The hallway scene was featured in the special. 2020 was a good year for this business as Covid-19 lockdowns had people cooking at home more and it translated into big sales.
Mikael Soderlindh left the company in December, 2021. He continues to run Happy Socks and he also founded 2 other businesses. Lickfett now runs the business with his wife, Deborah. In September, 2023, the company opened a brick and mortar store in Augora Hills, California. That’s where they do all their sharpening plus they offer walk-in service for locals. As of July, 2024, the company is still in business and has annual revenue of $2 million.
