Repaint Tray Shark Tank Update — Shark Tank Season 17
Repaint Studios turns heads and trays on Shark Tank: How Barbara Corcoran and Joanna Gaines backed Billie Asmus’s eco-friendly painting innovation.
When Billie Asmus entered the “Shark Tank Season 17, Episode 3,” she brought a reusable, eco-friendly innovation. Billie brought a reusable paint tray with an airtight lid. Her brand, the Repaint Studios, 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 Studios
| Category | Details |
|---|---|
| Business Name | Repaint Studios |
| 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 Studios. 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 retails for $39.95, and it costs her $13. However, she renegotiated with the manufacturer and brought down the price to $10.50. Joanna was really impressed with Billie.
Mr. Wonderful, as always, was curious about sales numbers. Billie explained that she just started off in 2024. She also shared that Repaint Tray is projected to reach $1.3 million in sales in 2025, and the gross profit would be $300,000.
Lori Greiner was interested to know what they actually want 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.
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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 withdrew from the deal negotiations and left the decision to Joanna Gaines. Joanna talked about her business and shared that contractors are stubborn, as it’s very hard for them to try something 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 Studios is thriving, reflecting its growth in marketing and shipping. The ABC “Businesses and Products” page mentions Repaint Studios 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 soon be available at retail stores in America and globally, as Billie mentioned during the Shark Tank pitch. As of now, they are selling directly from their official website. For more updates, you can also 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.
