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Hidrent is an app that connects users with off-duty firefighters who offer handyman services for tasks like lifting, assembling, fixing, and cleaning around the house. It provides a platform for people to find trustworthy help for home repairs without hassle.
The app is especially beneficial for senior citizens as it offers a task-based service that is simple to use. Hidrent stands out by ensuring the safety of its users through background checks on all employees.
The app is currently only available in the United States, and some small cities might not be covered, but it provides a convenient way to get skilled professionals to attend to your needs.
The service benefits both the customers, who can complete their tasks efficiently, and the firefighters, who can earn extra income.
Hidrent’s innovative concept of using off-duty firefighters to handle household tasks further differentiates it from traditional handyman services and makes it an appealing choice for those in need of timely and reliable assistance with home repairs.
| Company Name | Hidrent Inc. |
| Founder | Dave Heimbuch |
| Product | A platform that provides home services to off-duty firefighters |
| Investment Seeking | $300,000 for an 8% equity |
| Final Deal Accepted | $300,000 for 33.3% equity |
| Shark Name | Robert Herjavec and Lori Greiner |
| Episode | Season 13, Episode 06 |
| Business Status | In Business |
| Website | Hidrent Website |
| Net Worth | $1.5 million (estimated) |
What Is Hidrent?
Hidrent is an app that helps connect users with trustworthy off-duty firefighters who work as handymen for various home repair tasks. It allows users to find assistance for tasks like lifting, assembling, fixing, and cleaning around the house.
Hidrent is a task-based company that connects off-duty firefighters with local homeowners and businesses in need of temporary assistance. It allows firefighters to earn money on their days off by providing services such as cleaning, installing fixtures, hauling debris, and more.
Hidrent enables firefighters to set the cost with their customers and charges a 20% fee on the back end. The app is task-based and is particularly recommended for senior citizens.
The platform emphasizes supporting firefighters in serving their community during their time off, providing an opportunity for individuals to hire off-duty firefighters for various tasks while also supplementing their income.
Who Is The Founder Of Hidrent?
Dave Heimbuch is the CEO and founder of Hidrent. He doesn’t come from a firefighting background but has a tech background. The idea for Hidrent came when he realized that firefighters have downtime between shifts and often take on second jobs to supplement their income.
He was inspired by his brother-in-law, a firefighter, who mentioned that firefighters often do odd jobs during their time off to make extra money.
Before appearing on Shark Tank, Hidrent had already established itself as a platform that connects off-duty firefighters with people in need of various services.
The platform offered a range of services at competitive prices, such as light fixture work, general handyman work, furniture moving, smoke detector maintenance, hauling, and gutter cleaning.
Hidrent saw a significant increase in revenue during the COVID-19 pandemic as more people sought help for household tasks while being cautious about who they let into their homes.
How Was The Shark Tank Pitch Of Hidrent?
- Founders: Dave Heimbuch
- Product: Hidrent, a mobile app connecting users with off-duty firefighters for various tasks
- Investment Sought: $300,000 for 8% equity
- Final Deal: $300,000 for 33.3%
During the pitch on Shark Tank, Dave Heimbuch presented Hidrent, a mobile app connecting users with off-duty firefighters for various tasks.
Seeking a $300,000 investment for 8% equity, Dave showcased how the app provided a trusted platform for users to hire firefighters for tasks while offering firefighters opportunities to earn extra income.
The Sharks responded positively to the unique concept, with Lori and Robert expressing interest and ultimately offering $300,000 for 20% equity. However, after negotiations, the final deal was settled at $300,000 for 33.3% equity.
Despite initial concerns raised by some Sharks, the partnership with Lori and Robert marked a significant milestone for Hidrent’s growth and prospects.
Shark’s Views:
- Lori and Robert liked the idea and offered $300,000 for 20%
- Kevin was not interested in the journey
- Mark felt the equity was too high
- Robert ultimately offered $300,000 for 20%, later adjusted to $300,000 for 35%
- Lori and Robert finally settled on $300,000 for 33.3%
| Shark | Investment Offered | Counter Offer by Founders | Final Deal |
| Lori | $300,000 for 20% | $300,000 for 20% | Rejected |
| Robert | $300,000 for 20% | $300,000 for 20% | Rejected |
| Robert | $300,000 for 20% | $300,000 for 35% | Rejected |
| Lori | $300,000 for 35% | $300,000 for 33.3% | Accepted |
Also read, Hidrent Shark Tank Pitch
Did Hidrent Get a Deal on Shark Tank?
Hidrent secured a deal on Shark Tank Season 13 with investors Robert Herjavec and Lori Greiner. They offered $300,000 for 33.3% equity in the company.
Since then, Hidrent has expanded its services nationwide, achieved over $1 million in revenue, and introduced phone booking for easier access to off-duty firefighters for household tasks.
The deal has propelled Hidrent to become a successful digital handyman service, catering to the needs of customers, especially the elderly, who seek trusted assistance for home projects.
Also read, Hello Prenup Shark Tank Net Worth
What Happened To Hidrent After Shark Tank?
After appearing on Shark Tank, Hidrent, the mobile app created by Dave Heimbuch, did not end up finalizing the deal with Robert and Lori. However, the exposure on the show did bring some positive outcomes for the company.
Hidrent successfully raised more than $660,000 in seed funding from nine investors after the show. This injection of capital would have helped the company to develop further and expand its operations.
In June 2022, Dave launched a StartEngine equity crowdfunding campaign, which raised nearly $150,000. This campaign not only brought in additional funding but also increased awareness about the app among potential users.
Hidrent announced a significant partnership with the International Association of Fire Fighters (IAFF), granting them access to over 300,000 firefighters across the United States until 2024. As part of this collaboration, Hidrent pledged to donate two percent of all profits to IAFF.
This partnership not only provided access to a large user base but also helped in establishing credibility and trust within the firefighting community.
The partnership with IAFF and the exposure from Shark Tank helped Hidrent gain national traction almost overnight. This increased visibility likely led to a growth in user base and service adoption.
Hidrent is still in business and available for users to download on both iOS and Android devices from their official website, hidrent.com.
Despite not finalizing the deal with the Sharks, the company managed to secure funding, launch successful crowdfunding campaigns, and establish a valuable partnership within the firefighting community.
The company’s successful fundraising rounds and partnerships indicate that it has attracted investments and grown its business, although specific details about its current net worth are not publicly disclosed.
The partnerships and funding secured post-Shark Tank likely increased Hidrent’s valuation and potential net worth.
Also read, DEUX Shark Tank Net Worth
Hidrent Shark Tank Update
After appearing on Shark Tank, Hidrent experienced a surge in popularity and media coverage on platforms like Yahoo Finance, Fox, and CNBC.
Despite the initial deal with Lori Greiner and Robert Herjavec, it seems the partnership did not materialize, as the company was not listed on Lori’s investment portfolio.
The exposure on the show elevated the company’s profile, resulting in heightened visibility for its services.
Hidrent secured a deal with Lori Greiner and Robert Herjavec, receiving the sought-after investment and guidance to scale its operations.
Hidrent continued its operations under the same name, contrary to Lori’s request for a rebrand. In terms of financial performance, the company generated $430,000 in revenue in 2021, with a projected revenue of $750,000 for 2022.
The company continued to grow, expanding to multiple major cities across the United States and engaging with the community through focused advertising efforts.
Hidrent expanded its partnerships with notable companies in property damage restoration, solar, and relocation sectors.
The founder anticipates exceeding $1 million in revenue in 2023, and the company’s current valuation stands at $8.5 million.
Hidrent’s innovative business model, leveraging off-duty firefighters for handyman services, gained positive reviews and recognition nationwide, positioning the company for further success.
Also read, Fish Fixe Shark Tank Net Worth
What Is the Net Worth Of Hidrent?
Hidrent’s net worth is estimated to be $1.5 million. The valuation of Hidrent was $900,000 after securing an investment from Robert Herjavec and Lori Greiner on season 13 of Shark Tank.
