FlexScreen

flexscreenJoe Altieri hopes a Shark invests in FlexScreen, his replacement window screens, in Shark Tank episode 1108. After spending some time in the replacement window industry, Joe found out the biggest complaint people had was their window screens. Screens tear, get dirty, and they’re hard to remove and replace. He thought about the problem and, like any good entrepreneur, he created a solution.

The result was FlexScreen. It’s a replacement window screen with a PVC coated steel spring frame. This lets you “squeeze” your replacement screen into the slots for holding screens. Since the screen’s frame slips into the slot, there is increased visibility. It’s so easy to remove, cleaning becomes far less of a chore.

Each screen is custom sized. Measure the height and width of the screen and depth of the screen slot and they’ll ship your custom sized screen off. An average window screen costs about $70. For now, you can only order off the website, but Joe is looking to build a dealer network for his product. He likely wants a Shark to help him expand that network.

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Flex Screen – Replacement Window Screens

FlexScreen Shark Tank Recap

Joe enters seeking $800,000 for 6% of his business. After explaining his business and handing out samples, he gets down to business. In five years, he’s sold over $5 million direct to window manufacturers. The Sharks like this, but think he’s leaving money on the table not selling direct to consumers. They also think his product is priced too low with just 15% margins. The Sharks think licensing and selling in stores with standard sizing could increase sales.

Three Sharks start the bidding war. Kevin offers $800,000 for 20% contingent on a licensing deal with a major window manufacturer. Lori offers $400,000 in cash and a $400,000 line of credit for 10% of the company. Barbara offers $400,000 in cash and a $400,000 line of credit in exchange for 50% of the retail business. Joe seems to be leaning towards Barbara’s offer when Lori matches it. Thinking Lori has better connections in the hardware space, he accepts Lori’s offer.

FlexScreen 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 first re-run of this episode comes just two months after the original air date. It appears as if the deal has not closed with Lori yet. As of August, 2020 it still has not closed.

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