Ryan Landis hopes to hang out with the Sharks and score an investment for HangEase, a retractable hanger, in episode 526 on April 4. Ryan invented HangEase when he was in the third grade, way back in 2003, for a school invention contest. His product caught the eye of another parent who owns a business that sells to Wal-Mart. Ryan got a patent attorney and placed the product in about 100 stores.
Fast forward to Shark Tank 11 years later and Ryan, now about 20, wants to put HangEase on lots of store shelves. The product is trademarked and patented, but not much has happened with it since the initial surge in action from about 2003 to 2006. There currently isn't even a way to purchase it online. Ryan was probably busy being a kid, but now he's interested in building HangEase into a business. He's likely looking to partner with a Shark to amp up production and distribution, plus get a nice infusion of cash.
HangEase Shark Tank Recap
Ryan will pitch the panel of five Sharks on the business and its prospects for growth. He’ll need to convince Mark Cuban, Lori Grenier, Kevin O’Leary, Barbara Corcoran, and Robert Herjavec that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but he'll need to show them HE is capable of running the company to “Shark standards." A full pitch re-cap on HangEase will be available on Shark Tank Blog once this episode airs.
HangEase Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on HangEase and Ryan Landis as more details become available.