Repaint Tray Shark Tank Update — Shark Tank Season 17
Repaint Tray turns heads and trays on Shark Tank: How Barbara Corcoran and Joanna Gaines backed Billie Asmus’s eco-friendly painting innovation.
Billie Asmus stormed the stage of “Shark Tank Season 17, Episode 3,” as she brought an eco-friendly invention. Billie designed a reusable paint tray. Her brand, the Repaint Tray, vowed to solve the painting waste problem by saving paint, eliminating wastage, and cutting disposable liners.
In a pitch that was full of demos and eco appeal, the question that lingered: would the Sharks be able to see its potential, or would this reusable paint tray fade into the background?
About Repaint Tray
| Category | Details |
|---|---|
| Business Name | Repaint Tray |
| Founder | Billie Asmus |
| Industry | Home decor |
| Product | Eco-friendly painting tray |
| Investment Asked | $250,000 for 5% equity |
| Deal Status | Deal secured with Barbara, Joanna, and Chip |
| Deal Outcome | $250,000 for 15% equity |
| Valuation | $5 million |
Billie Asmus was refurbishing and refinishing her tiny studio in 2021. That’s when she noticed the constant waste of plastic paint tray liners. 240 million paint tray liners end up in landfills in America. Yes, you read it right. So, there was no alternative or reusable paint trays until Repaint Tray was born.
One of the reasons why she came up with this idea to build a Repaint Tray is that she was losing expensive paint trays and had to run back to the store.
Billie Asmus presented Repaint Tray, a reusable, airtight three-piece paint tray system designed to reduce waste and keep paint fresh. When you want to pause while painting, just brush the liner, and later peel it smoothly. It lets painters reuse it repeatedly.
The airtight lid keeps the paint fresh for many days. Her mission is to reduce single-use plastic liners that go into landfills, lower material wastage, and simplify the painting process.
Repaint Tray Shark Tank Pitch
Billie asked for $250,000 for 5% equity in Repaint Tray. The valuation was quite aggressive, at $5 million. It reflects confidence in scaling and premium positioning in the DIY space.
Billie explained to the Sharks that her paint tray design makes use of durable materials, also using the replaceable liner and lid components, which makes it a recurring-revenue model. The liner and lid sales help maintain the continuous cash flow.
The product’s selling price was $39.95, and the production cost was $13. However, she negotiated with the manufacturer and the price was further brought down to $10.50. Billie’s vision and pitch really impressed Joanna.
Mr. Wonderful, as always, was curious about sales numbers. Billie explained that she started her brand in the year 2024. She also mentioned that the brand is projected to touch $1.3 million in sales in the year 2025, and the profit after subtracting expenses would be $300K
Lori Greiner wanted to know what she was actually seeking from a Shark. Billie took this opportunity to tell the Sharks that her brand is hitting massive growth. Her retail partners want to launch the product. While she also has offers from international retail partners, those deals are going to start from $20,000 to $250,000. So, she wants a Shark to come up and help her hit that growth.
What Makes the Repaint Tray Unique?
There are various things that are unique about the brand:
- Reusable and sealed preservation: It’s not like traditional paint trays that dry overnight. The lid designed by Billie keeps the paint fresh for many days.
- Silicone liner: The paint can be peeled off easily from the liner, cleaned and reused, further reducing the need for self-reliance on liners or foil.
- Economic benefit: By completely reducing the frequent disposal of paint liners, this system attracts environmentally conscious consumers and also those who like DIY projects.
Did Repaint Tray Get A Deal On Shark Tank?
Kevin O’Leary was not satisfied with the equity that Billie was offering, valuing the brand $5 million. But, he offered her $250K in exchange for 20% of the equity. Lori bowed out of the negotiations as she claimed that she was in this business and that it was very competitive.
While Daniel Lubetzky withdrew from the negotiations, stating that he is leaving the deal to Chip and Joanna.
Barbara Corcoran offered a deal of $250,000 in exchange for 15% equity. Joanna wanted to know more about the end goal of her business and if she was going for more DIY products. The founder shared that she wants to build a whole paint supply product line, like bucket liners, trim trays, and so on.
Chip Gaines also bowed out of the negotiations, leaving the decision to his wife, Joanna. Joanna shared about her business ecosystem and said that contractors are not flexible and it’s very hard to convince them to try anything new.
Mr. Wonderful took his offer back as he got annoyed when he did not get a positive response from the founder.
Joanna further shared that the product is an outlier as it does not fit in their ecosystem, which is full of home decor and furniture.
Barbara asked Chip and Joanna if they could get in for 5% stake, and she would be taking the remaining 10%. Hence, the deal was secured by Repaint Tray from Barbara and Chip, and Joanna for $250,000 for 15% equity.
Repaint Tray Shark Tank Update
After the Shark Tank episode aired, Repaint Tray is thriving, reflecting its growth in marketing and shipping. The ABC “Businesses and Products” page mentions Repaint Tray as a woman-owned brand transforming painting in an eco-friendly manner.
However, user and customer discussion boards like Reddit highlighted curiosity about whether the deal will survive due to diligence, mainly because of the premium pricing and scalability challenges.
Where Can You Buy It?
Repaint Tray will be available at D2C stores globally and in America, particularly, as Billie stated during her Shark Tank pitch. As of now, they are selling from their official website. For any new update, you can check their Instagram page.
Quick Summary
- Billie Asmus came to Shark Tank asking for $250,000 for 5% equity. She brought a reusable paint tray with an airtight lid.
- Repaint Tray is a three-piece system that comes with a metal tray, a flexible painting silicone liner, and a lid. When you want to pause while painting, just brush the liner, and later peel it smoothly.
- Barbara, Chip, and Joanna offered a deal for $250,000 for 15%. Chip and Joanna are going to get 5% equity, and Barbara will share the remaining 10% equity, for which Chip and Joanna are going to offer one-third of the amount asked.
Check out other Shark Tank Season 17 Episodes.
Interested in knowing more about other products that appeared on the same episode? Check out their business updates!
