Shane Panell, a stay-at-home Dad from Arizona, comes to the Shark Tank in episode 205 with his product, the Sweep Easy. 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?
Sweep Easy Shark Tank Recap
Panell comes into the Shark Tank seeking $40,000, in return for a 25% equity stake. He demonstrates the extendable scraper, removing cereal, yogurt, and other materials off sample pieces of floor. He has a patent pending on the product.
Robert Herjavec wants to try the product. He was a stay-at-home dad for three years. Herjavec and Kevin O'Leary want to talk about licensing the product to existing broom manufacturers. Panell wants to do both – license the Sweep Easy and sell licensing for the product. Kevin Harrington disagrees with the idea. He believes that the product alone could become a $100 million business. Panell envisions selling his product in retail spaces.
Kevin O'Leary wants to talk about money. He's interested in licensing the product. He's willing to give Panell $40,000 for a 20% stake. Kevin Harrington speaks up. He explains that licensing represents about 30-40% of the income Panell can make with direct sales, which is his area of expertise. Before Harrington can make an offer, O'Leary ups his offer. $50,000 for 20%.
Harrington says he has licensing contacts as well, but he also has television contacts. Daymond John interjects. He believes Panell wants to run the business himself. He makes an offer of $75,000, for 30% reminding the other Sharks that he “branded a stinking pair of jeans globally,” and claiming he'll do the same for the brooms. There's blood in the water and the Sharks are in a bidding war.
Barbara Corcoran is out. She doesn't believe Panell can carry through the business. O'Leary tries to bring Harrington in on his deal. Harrington wants more control, not a partner. Robert Herjavec speaks up, making an offer for $80,000 for a 25%. Daymond John offers to go in with Kevin Harrington. Together, they match Herjavec's offer $80,000 for 25%. The war is heating up.
Panell wants to call his wife, but the Sharks push him for an answer. O'Leary offers to talk to Panell's wife, giving him a hard sell. John reduces his offer to $70,000 for 30% if Panell leaves to call his wife.
Under pressure, Panell accepts John and Harrington's offer, $80,000 for 25%. He leaves the Tank slightly bloodied, but triumphant.
Sweep Easy Shark Tank Update
The feeding frenzy was tense and exciting to watch, but it's uncertain whether the deal, in the end, carried through. Fewer than 50% of the deals struck on camera in the Shark Tank make it to completion. Today, the Sweep Easy social media sites appear to be abandoned, with no new posts since 2012. The website, however, is still active. The product is still for sale for customers who want to reduce strain on their backs when cleaning up household messes.
After a few years of inactivity and limited (or no) availability, Panell reintroduced the Sweep Easy in the spring of 2017. With a shiny new website, new social media accounts, and a redesigned product, Panell hopes to cash in on the constant demand for the Sweep Easy as Shark Tank continues to live on in syndication.
In an update notice Mr. Panell sent to the Shark Tank Blog, he says:
The new and improved SweepEasy is here and ready to help you clean your floors like never before! Gone are the days of getting down on your hands and knees to remove things like glue, gum, stickers, tape, food, or mystery gunk stuck to your hard flooring surfaces. With the 2 in 1 SweepEasy featuring a built in retractable scraper, you simply extend the scraper and scrape, sweep and go. New improvements include our patent pending button release system and easy glide deployment/retraction technology, making SweepEasy quicker and easier to use. Additionally, with our Home, Pro, and Lobby versions featuring interchangeable plastic and metal scrapers, you can choose a SweepEasy model that meets your cleaning needs. So don't wait, order your sweepeasy today at www.sweepeasybroom.com . And Rememer, don't just sweep…SweepEasy!”