Shark Tank season 5 episode 23 featured Bryan White, who pitched his Garage Door Lock product.
Garage door locks automatically lock your garage door with a steel deadbolt every time you close it, so you know that your valuable items will be safe.
The Garage Door Lock is universal and works with any garage door opener you have installed.
Garage door locks can be easily installed by simply pushing a button on your existing garage door and then simply attaching it to your existing door.
Garage door locks features a simple lock that comes with the hardware and instructions. It should take just a few hours to install.
What Is Garage Door Lock?
Garage door locks are specifically designed for garage doors – generally, the largest doors in a home and the ones left unlocked the most.
The Garage Door Lock deadbolts garage doors every time they are closed. It works with pre-installed door openers. You don’t need a professional to install it – you can do it yourself.
|Company Name||Garage Door Lock|
|Product||The Deadbolt Lock Intended For Garage Doors|
|Investment Asking For||$275,000 For 30% equity in Garage Door Lock|
|Final Deal||$275,000 For 35% equity in Garage Door Lock|
|Episode||Season 5 Episode 21|
|Business Status||In Business|
Who Is The Founder Of Garage Door Lock?
Bryan White is the founder of Garage Door Lock. A garage door lock is a device that secures the largest door in the home.
Bryan developed the idea after discovering that the remote controls used to close most garage doors are insufficient to deal with the problem.
The system Bryan built to avoid this was neither expensive nor complicated.
The Garage Door Lock locks your garage door with the push of a button, as it links the gate to the door.
Suction cups secure the garage door, and the remote control is hooked. This remote control case is durable plastic and looks like metal, but it does not interfere with the remote control’s movement.
Garage Door Lock Before Shark Tank
Garage Door Locks are used to secure the largest entrance to a house that criminals can enter.
The idea came to Bryan when he discovered that standard remote controls are insufficient to close garage doors.
The technology that releases parasails from a boat and retrieves them was introduced by Bryan, who has a background in product development.
However, as most inventors do, he did not have a business or marketing product before appearing on Shark Tank.
Bryan generated a respectable quantity of sales before appearing on the show without marketing, owing to the high volume of people searching for a garage door lock following a break-in.
He applied for Shark Tank in the hope of resolving his marketing dilemma with the Sharks’ assistance and was invited to Season Five.
How Was The Shark Tank Pitch Of Garage Door Lock?
Bryan White came to Shark Tank requesting an investment of $275,000 in exchange for 30% equity in the Garage Lock Door.
Daymond John offered $275,000 for a 35% stake in Garage Door Lock. Bryan happily accepted and left the Shark Tank stage with a deal from Daymond John.
Final Deal: Daymond John agreed to invest $275,000 for a 35% stake in Garage Door Lock.
What Happened To Garage Door Lock After Shark Tank?
The Garage Door Lock hasn’t seen much action after the Shark Tank deal, as one might expect from a startup that landed a deal on TV.
Garage Door Lock’s Facebook page remains relatively inactive despite consumer demand for reruns of Bryan’s show.
Therefore, it is probable that the sale failed due to Daymond’s inability to get a license agreement or because the venture encountered more obstacles than Daymond anticipated. The Garage Door Lock is still available on Bryan’s website.
Bryan’s pitch demonstrates what the Sharks look for in a business and an entrepreneur to aspiring entrepreneurs.
Sharks hope that the entrepreneur knows any business problems and admits them as Bryan did.
They hope that the entrepreneur has attempted to fix this problem or at the very least has a strategy to do so with the money they would receive, but Bryan lacked such a plan.
By failing to address this, Bryan reveals that he lacks the commitment necessary to expand the company over the long run and generate revenue for investors.
Bryan could have gained a contract without licensing if he had demonstrated his love for the product or how he would handle his marketing challenges. The Sharks understood the product was amazing and had a large market.
The Garage Door Lock is available for purchase on the company’s website. There do not appear to be any retailers currently selling the product.
Garage Door Lock Shark Tank Update
The garage door lock company partnered with California-based lock maker Guardian after its appearance on Shark Tank.
Guardian declared it had updated circuitry, resourced parts, and simplified assembly of the Garage Door Lock.
Guardian reports that 60 percent savings were achieved. According to All Shark Tank Products, the company that created Garage Door Lock, ElockSys of Phoenix, Arizona, has ceased operations.
We discovered ElockSys Garage Lock Doors for $500 on SecuritySnobs (2 remotes are included).
Is Garage Door Lock Still In Business?
There was no update regarding Garage Door Lock for years after its appearance on Shark Tank. However, Garage Door Lock is still in business as of 2022 and selling the product from its website.
What is the Net Worth of Garage Door Lock?
The valuation of the Garage Door Lock was $916,000 when it appeared on Shark Tank. The valuation of Garage Door Lock is unavailable as of 2022 since the company recently seems to be back with its website.