Velocity Signs Shark Tank Net Worth

Velocity Signs is a company that manufactures and sells portable, battery-operated, and attention-grabbing sign-waving machines. These machines are designed to replace human sign spinners, often seen at busy intersections and storefronts, promoting various businesses and special offers.

The idea behind Velocity Signs is to provide a cost-effective and efficient way for businesses to advertise and attract customers without hiring and managing human sign wavers.

Founded by Scott Adams in 2012, Velocity Signs offers sign-waving machines that can be customized with a business’s unique branding and promotional messages. The machines are durable, weather-resistant, and designed to run on a single battery charge for long periods.

They also include features like LED lights to improve visibility in low-light conditions and programmable sign movement patterns to create eye-catching advertising displays.

Velocity Signs gained significant attention after appearing on Shark Tank’s TV show in 2014. During the pitch, the founder sought investment to help grow the company and expand its product offerings.

Although Velocity Signs did not secure a deal on the show, the exposure from Shark Tank helped to raise awareness of the product, and the company has continued to operate and serve its target market.

What Is Velocity Signs?

Velocity Signs is a company that makes portable, self-standing signs that move to attract passersby. You would think human sign twisters and telemarketers would not be people’s first career choices.

Velocity Signs is a business that produces custom signs, banners, and apparel. Two entrepreneurs from Austin, Texas, founded Velocity Signs has provided their customers with quality products for over 20 years.

With a focus on customer service and satisfaction, Velocity Signs strives to provide customers with an experience that meets their needs and expectations.

InVelocity Signs earned national recognition when they appeared on ABC’s hit reality series, Shark Tank. On the show, Velocity Signs owners Gary Nayak and Justin Pfeffer pitched their idea for a revolutionary sign-making technology called Printz.

This patented system allows customers to design customized signs quickly and easily. The Sharks were intrigued by the concept, ultimately investing in the company to help it reach its full potential.

Today, Velocity Signs continues to use Printzio to bring innovative signage solutions to businesses across America.

The company manufactures battery-operated, portable, and rechargeable gadgets 100% in the United States. A small business can use it to attract customers and advertise promotions; it functions as a human sign twirler.

Who Is The Founder Of Velocity Signs?

Velocity Signs was founded in 2006 by college buddies Scott Adams and Josh Faherty. However, the company did not begin operations until 2011, only a few years later.

Scott holds a bachelor’s degree in science from California State University-Sacramento and some experience in sports marketing.

His current role includes serving on the board of directors, directing the Stars for Life Foundation’s celebrity golf tournament, and being a licensed realtor. Josh is also an engineering graduate of the same university. Josh’s current whereabouts are unknown following the business’s closure in 2019.

Velocity Signs Before Shark Tank

One hot summer day, Scott observed a human sign twirler drenched in sweat and suffering from heatstroke. This is how the idea for Velocity Signs came about pity for the individual.

After obtaining a patent, they began real production in 2009 and used Josh’s technical abilities to design a prototype.

When Velocity Signs launched in 2011, it had an amazing clientele, including Burger King, Subway, Ford, and Chevrolet dealerships.

They sold 125 units of Velocity Signs in their first year of initiating the business and generated a revenue of $257,000. As a result of their fear of stagnation and desire to expand their market, they began looking for investors.

The first goal for the duo will be to hire additional sales personnel to reach a $2.5 million target by the end of the financial year.

How Was The Shark Tank Pitch Of Velocity Signs?

Josh and Scott appeared on Shark Tank requesting an investment of $225,000 in exchange for a 15% stake in Velocity Signs. Mark Cuban liked the business model, but you do not need another once you buy one. He is out.

Mark says he will order the sign. He is excited about that. Mark says he will order at least five of the signs for the Dallas Mavericks so that they can get pictures at games.

Barbara Corcoran liked the signs for real estate brokers. They are very heavy for that market, yea. She’s out. However, there is one issue with the weight that the agents have. They are unhappy that they will carry two large signs.

They want to see the signs in the stores. They have sworn to do no more than watch them. Barbara Corcoran now says that she is the person who will market the new sign business.

Kevin O’Leary wants to see a year or two of sales but believes sales will be far less than they deserve. He is out.

Lori thought this would be a great way to get many people paying attention to a company that was investing in a billboard business. Lori Greiner offers $225,000 for a 30% equity to invest. Mark is also willing to come in.

Kevin says he will be a part of it, and Mark chimes in, saying he is a part of it. Lori is unhappy with the offer, so Mark steps up and adds Robert and Kevin to the deal.

Barbara Corcoran wants to go in with Lori for $225,000 at 25% equity. Robert Herjavec invested in a billboard company that went awry. Consumers are simply getting bored with the movement. He is out.

Mark, Kevin, and Robert jointly offer $225,000 for a 30% equity in Velocity Signs. Scott and John think for a while and decide they would be happy to have three sharks and accept the deal.

Scott and Josh leave the Shark Tank stage with an investment from Mark Cuban, Robert Herjavec, and Kevin O’Leary for Velocity Signs.

Final Deal: Mark, Kevin, and Robert agreed to invest $225,000 for a 30% stake in Velocity Signs.

Velocity Signs Shark Tank Recap

The Shark Tank pitch of Velocity Signs, presented by the founder Scott Adams, took place during Season 5, Episode 23, aired on April 4, 2014. Scott entered the tank seeking a $225,000 investment in exchange for a 15% equity stake in his company.

During the pitch, Scott demonstrated the capabilities of the Velocity Signs sign-waving machines, showcasing their durability, weather resistance, and various features designed to grab attention, such as LED lights and programmable movement patterns.

He explained how these machines could replace human sign spinners, providing businesses a cost-effective and efficient way to advertise and attract customers.

The Sharks recognized the potential of Velocity Signs but had some concerns. Some were skeptical about the size of the market for sign-waving machines, while others questioned the scalability of the business and the overall return on investment.

There were also concerns about potential regulations and ordinances that might limit the use of sign-waving machines in certain locations.

The founder Scott Adams, persuaded Mark Cuban and Robert Herjavec to invest in his company. Mark and Robert offered Scott $225,000 for a 30% equity stake in Velocity Signs, double the initially requested 15% equity. Scott accepted the deal.

Scott Adams persuaded three Sharks, Mark Cuban, Robert Herjavec, and Kevin O’Leary, to invest in Velocity Signs.

The three Sharks offered Scott a joint deal of $225,000 for a 30% equity stake in the company, doubling the initially requested 15% equity.

Scott accepted the deal, securing valuable financial support, mentorship, and guidance from these experienced entrepreneurs.

With the help of Mark Cuban, Robert Herjavec, and Kevin O’Leary, Velocity Signs was able to refine its marketing strategy, improve its product offerings, and expand its market reach.

The partnership has played a significant role in the company’s growth and development, allowing it to continue providing innovative advertising solutions to its customers.

Securing deals with experienced entrepreneurs like Mark Cuban and Robert Herjavec provided Velocity Signs valuable financial support, mentorship, and guidance.

With their help, the company was able to refine its marketing strategy, improve its product offerings, and expand its market reach.

Velocity Signs Shark Tank Update

After securing a deal with Mark Cuban, Robert Herjavec, and Kevin O’Leary on Shark Tank, Velocity Signs gained valuable financial support, mentorship, and guidance from experienced entrepreneurs.

This partnership helped the company refine its marketing strategy, improve its product offerings, and expand its market reach.

With the backing of the three Sharks, Velocity Signs continued to focus on providing businesses with cost-effective and efficient advertising solutions using their sign-waving machines.

The company has been marketing and selling its machines to various businesses, from small mom-and-pop stores to larger franchises.

Velocity Signs has also worked on refining and improving its product line based on customer feedback and industry developments.

This includes offering customization options to cater to the unique needs of different businesses and updating the machines’ features, such as improving battery life and enhancing visibility with additional LED lights.

While details on the company’s current revenue and growth are not publicly available, Velocity Signs appears to have carved out a niche in the advertising solutions market.

The company maintains an online presence, and its website makes its products available. The support and guidance from the Sharks have undoubtedly contributed to the growth and development of Velocity Signs as a business.

Velocity Signs introduced a new sign, the Mannequin Model, which sells for $1449 and generated revenues from $500,000 to $3 million following its appearance on Shark Tank. However, Velocity Signs went out of business in January 2019 for unexplained reasons.

What Happened To Velocity Signs After Shark Tank?

Velocity Signs has done fairly well for itself due to the investment and appearance of Shark Tank. Josh and Scott have decided to use the Mannequin Real Estate Model in light of their appearance on Shark Tank, which increased monthly sales.

The new Mannequin Standard Model is now available for a reduced price of $1,449 compared to the older model.

Every Velocity Signs purchase includes a machine with circular motion, a motor built specifically for the machine, and a 12-volt battery with 14 hours of battery life (as well as a one-year hardware warranty). All this equipment is housed in a lightweight 75-pound box with a padlock.

Velocity Signs appears to be doing fairly well due to Mark, Kevin, and Robert’s investment. However, Velocity Signs ceased its operation in 2019 without giving any reasons.

Velocity Signs has ceased operations after significant developments following the investment and a shift to mannequin real-estate models for house shows.

The website of Velocity Signs is no longer active, and its social media pages have not been updated in a long time.

What Is the Net Worth of Velocity Signs?

The valuation of Velocity Signs was $1.5 million when it appeared on Shark Tank. The net worth of Velocity Signs is $0 since the company went out of business in 2019.