Jennifer and Gifford Briggs seek funding for Drain Wig, a disposable de-clogging gadget for bathtub drains, through the assistance of their five daughters while appearing on Shark Tank.
The Brigg’s invented the Drain Wig to provide a less odiferous, chemical-free hair removal from drains. Hair is the most common cause of bathroom drain obstructions.
The majority of remedies include inserting some form of reaming equipment down the drain and then removing the device’s unpleasant hair. It was pitched to the Sharks on episode 902.
Drain Wigs are chains suspended within drains. They catch and hold stray hair.
Pull up the chain when the drain slows down, and throw out the whole assembly including the hair.
There will be no need for you to touch the vile matter pulled from the drain because it is disposable. You will also not have to use chemicals to clean the drains.
A four-pack of Drain Wigs costs $19.95. This will provide most families with a year’s supply. The unique product is available only online and comes with a 30-day money-back guarantee.
Thus far, the Brigg’s has sold many Drain Wigs via an infomercial-style advertisement. They’re presumably looking for a Shark to assist them in breaking into large retail shops.
Will a Shark’s account be depleted to invest in this product?
What Is Drain Wig?
Everyone is familiar with the disgust and aggravation associated with a clogged drain. If you are a do-it-yourselfer or if you have to hire a plumber and cough up some cash, the situation is unpleasant no matter how you look at it.
The Drain Wig is a device that prevents drain clogs with a simple hair-stopping technique. The Drain Wig is simply a chain that floats in the drain.
Drain Wig collects all the hair clogging your drain by collecting all the hair. It costs less than ten dollars too!
|Company Name||Drain Wig|
|Entrepreneur||Gifford Briggs and Jennifer Briggs|
|Product||Drain Plug That Catches Hair|
|Investment Asking For||$300,000 For 5% equity in Drain Wig|
|Final Deal||$300,000 For 15% equity in Drain Wig|
|Episode||Season 9 Episode 6|
|Business Status||In Business|
Who Is The Founder Of Drain Wig?
Jennifer and Gifford Briggs developed the Drain Wig accidentally.
Having never dealt with commercial or entrepreneurial ventures before, Jennifer was a stay-at-home mom of five girls.
Still, she invested a lot of time and effort in creating prototypes and perfecting the product in their bathroom.
As a piece of dental floss remained lodged in the drain, they observed hairs coming out of it.
This led to the creation of the concept. A comprehensive effort was made to refine the design and identify all production and sales partners.
Several awards have been given to the Drain wig, including the National Hardware Show Innovation Gold Award and one of The TODAY Show’s top “Bright Ideas of 2013”.
As a speaker, Jennifer Briggs has given presentations at a variety of large conferences and trade shows that she would have never imagined, but she and her husband also learned a lot of valuable lessons along the way, including how to be receptive to input and suggestions and what it means to serve others.
Drain Wig Before Shark Tank
Jennifer and Gifford Briggs of Salem, Utah, the Drain Wig was developed after having a home problem.
The parents truly had five problems, but the issue was not with their daughters but their long hair.
The Drain Wig is a unique and creative gadget that collects hair, making it easy to remove it from a shower drain before it clogs it. Jennifer had an epiphany one day while showering.
Jennifer was able to pull the majority of the hair out of the pipe with the floss that had fallen down the drain and become tangled in a massive clump of hair.
Gifford discovered that a simple solution was close at hand for unblocking his shower, a chore no one likes.
Following that, a three-year period of experimentation ensued, during which the family’s shower became the laboratory for testing several prototypes until a Drain Wig prototype was perfected.
Jennifer and Gifford sold millions of their simple and effective products before appearing on Shark Tank.
However, Jennifer and Gifford still needed Shark Partners despite the Drain Wig being sold at Bed Bath & Beyond, Walmart, CVS, Walgreens, Amazon, QVC, and Amazon.
How Was The Shark Tank Pitch Of Drain Wig?
Jennifer and Gifford, along with their daughters, join seeking $300,000 in exchange for a 5% stake in their business.
They outline how their product was created and how their daughters contributed to its development.
They passed out samples and left the Tank after the pitch. Daymond desires to hear the figures.
They manufacture it for $1.10 and sell it for $9.99. The product is available at “all major department stores.”
The total sales to date total $14.2 million, which catches the Shark’s eye. The company has only earned $800,000 in royalties from an infomercial business with which it agreed.
However, the company has since acquired everyone and now owns the entire company.
Mark declares that he does not wish to reinvent the firm; he exits. Kevin offers $300,000 in exchange for a 20% stake in the business.
Sara asserts that they can complete the task independently; she exits. Daymond offers $300,000 for a 20% stake, while Lori offers $300,000 for a 25% stake.
They react with 10%, which the Sharks largely disregard. Following that, they cite the many benefits of doing business with hotels and counter with 15%. Daymond begins speaking, and Kevin responds, “I’ll do it.”
What Happened To Drain Wig After Shark Tank?
Drain Wig presented an unusual pitch to the sharks. Sales were excellent, retail links were established, and profit margins were great.
Kevin O’Leary promised Jennifer and Gifford Briggs exactly what they needed: a shark friend with the teeth to negotiate a significantly more lucrative transaction on their behalf.
Moreover, they gained a partner who was uniquely qualified to assist them in developing a company from the ground up around their helpful product, ensuring that they received 100% of the profits, after subtracting Kevin’s 15% share, of course.
Drain Wig’s formation and deal negotiations will likely be conducted behind the scenes, and it is difficult to quantify the marketing impact of a Shark Tank appearance on an already successful product, but Gifford and Jennifer have been sharing early details about having Kevin O’Leary onboard.
The Drain Wig entrepreneurs joined Kevin for the first Mr. Wonderful Shark Tank Summit, bringing together all of Kevin’s Shark Tank partners to discuss their views and successful business strategies.
Gifford and Jennifer mentioned on the DrainWig Facebook page that they learned a lot at the summit and were grateful to have found a whole new family of creative, clever, and dedicated people to help them thrive, which appears to be precisely what the DrainWig couple needed.
Apart from that, there are no additional updates available for DrainWig. The company sells twin packs on its website, Amazon, and almost any large retailer near you.
Thanks to Kevin O’Leary’s negotiating skills, Jennifer and Gifford will finally be able to retain a sizable slice of DrainWig’s lucrative pie.
Gifford and Jennifer proudly displayed their Christmas gift from Kevin in December 2017, a potato with Mr. Wonderful’s photograph glued to one side, which was of little significance but fascinating for those curious about how sharks behave outside the tank and in front of the television cameras.
Hence, you now know what an evil buddy, such as Mr. Wonderful, offers his partners during the holidays.
Drain Wig Shark Tank Update
Drain Wig and Kevin reached an agreement. Drain Wig is a huge success. They are still available in almost every big-box retailer and on Amazon.
As of January 2022, the company is still operating and generating $1 million per year in revenue.
Is Drain Wig Still In Business?
Yes, Drain Wig is still in business as of January 2022, with annual revenue of $1 million per year.