This Shark Tank episode makes its debut as RootSuit, the original spandex bodysuit. RootSuit was founded by Colin Grussing after seeing a green spandex bodysuit on television and buying one for a friend.
He couldn’t locate a firm selling them, so he decided to start his own! Colin and his friends attempted to wear New Orleans’s French Quarter outfits, and the audience went crazy for them.
Shaquille O’Neal’s 5XL RootSuit garnered much attention in 2010. They sold their first suit on ebay for $400. They reimbursed everything except the original amount!
Since then, numerous imitated brands have developed, with positive and negative outcomes; it increases brand visibility while eroding revenues. RootSuit is hoping for an investment from the Sharks.
What is RootSuit?
Bodysuits made of spandex are called RootSuit. RootSuit is the inventor of Spandex bodysuits; they were the first to sell them. These bodysuits are appropriate for every occasion, whether it is a party or a sporting event.
People began displaying their fandom because of this product. People started experimenting and amusing themselves by dressing differently. The popularity of this product is due to this reason.
The RootSuit gained fame in 2010 when Shaquille O’Neal, an American basketball player, wore one in a 5xl size.
|Product||full-body neon suits|
|Investment Seeking||$100,000 for 15% in RootSuit|
|Final Deal||No Deal|
|Episode||Season 4, Episode 21|
|Status||Out of Business|
Who is the Founder of RootSuit?
RootSuit was founded in 2008 by Colin Grussing. Additionally, he founded and owned several start-up enterprises. However, he rose to prominence following his show Shark Tank with his brand RootSuit.
He launched 52 Businesses intending to launch a new firm each week for a year. Before 52 Businesses, he founded and worked on BeGreenMan.com for nearly six years. Additionally, he owns NOLA Sidecars.
From Yale University, Colin Grussing graduated with a bachelor’s degree in mechanical engineering.
RootSuit Before Shark Tank
Rootsuit founder and owner Colin Grussing has just appeared on Shark Tank for the first time. He is seeking a $100,000 investment in exchange for a 15% stake in his business.
Colin begins the pitch with considerable flair, sporting a spandex-lycra costume beneath his regular clothing.
Rootsuit could provide information about his product to the Sharks, but he’d like to show them how it works.
There is hip-hop music playing on the audio while Colin blows a whistle and a massive paper sign reading “Go Root Suit” is hung above the entrance to the hallway where Shark Tank contestants walk.
The hood of Colin’s RootSuit is pulled over his face, and the paper falls apart as dozens of people in RootSuits storm out.
The colors evolved from a cool blue camouflage pattern to a patriotic, American-inspired red, white, and blue with stars pattern, back to a classic black and white tuxedo scheme, and finally to a variety of solid colors shifting gradients.
How Was The Shark Tank Pitch of RootSuit?
Collin Grussing made an appearance in episode 420 of Shark Tank. He sought $100,000 in exchange for 15% equity.
He arrived with a bunch of dancers who were all dressed in Root Suits. The lead dancer wore a shark head. This added intrigue to the pitch.
Robert Herjavek praised the product but warned that competitors would stifle growth. As a result, he stated that he is not prepared to invest.
Lori cited the same rationale and indicated that she was not prepared to invest. Kevin O’Leary was unsatisfied with the proposal.
He stated that while the investment is substantial, the equity ratio is low. As a result, he also declined to invest.
Grussing desired to proceed with the agreement with Daymond John, but Daymond John stated that he would invest $100,000 but would require 50% stock.
Grussing was unsure following this offer and took an excessive amount of time to decide.
Daymond John canceled the offer when he realized he was taking too long to decide. Mark Cuban, meanwhile, was averse to investing. Leaving Root Suit in the lurch. Root Suit was unable to secure any deals.
How Does RootSuit Make Money?
Root Suits come in a variety of styles. However, the two primary categories are solid and patterned. The suits are composed of 91% polyester and 9% spandex.
Their prices vary according to a category, but they often range between $35 and $40. Root Suits is a company that is solely focused on e-commerce.
Root Suits are not sold via Big-Box merchants or brick-and-mortar locations. Colin sold his first suit for $400 on eBay.
Is RootSuit Profitable?
The company produced gross sales of $140,000 even before appearing on Shark Tank. They enjoyed a lot of success with Root Suit, which led to their sales increasing. The company sold nearly 10,000 units in its first two years, earning $525,000.
What is the Revenue of RootSuit?
The Root Suit company was already established and popular before appearing on Shark Tank. That year, they sold approximately 10,000 copies.
Shaquille O’Neal donned a 5xl Root Suit, which aided in their surge in popularity and sales. Root Suit achieved $525,000 in sales and $140,000 in gross revenue.
What Happened To RootSuit After Shark Tank?
I’m sure that sales have increased significantly since RootSuit’s appearance on Shark Tank. Due to Charlie Day’s portrayal of the “Greenman” character on the popular sitcom It’s Always Sunny in Philadelphia, the “Greenman” character popularized the idea of spandex costumes.
RootSuit has subsequently redesigned its website and placed a premium on customer pleasure. Still, the company remains exclusively online — no big-box shops or brick-and-mortar businesses carry RootSuit items.
RootSuit has placed a high premium on its sizing webpage, which includes an abundance of documentation on determining the proper size for your RootSuit.
RootSuit offers a choice of suites that are classified as solid or patterned. Suits with patterns start at an unbelievable $35 and construct 91 percent premium polyester and 9 percent high-grade spandex.
The patterned suits begin at a somewhat higher price of $40, with specific designs, such as Green Camo and Zebra, discounted to $35.