Grease Monkey Wipes Shark Tank Update | Grease Monkey Wipes Net Worth

Grease Monkey Wipes are a unique product designed to clean and de-grease surfaces, specifically targeting individuals who frequently handle mechanical parts, such as cyclists or car mechanics. 

Grease Monkey Wipes was featured on Season 1 of the reality TV show Shark Tank and offers a simple yet effective solution for heavy-duty cleaning in a portable and user-friendly form.

These wipes are individually packaged and pre-moistened with a powerful, citrus-based cleaner known for its degreasing properties. They are engineered to cut through grime, grease, oil, and other tough stains encountered while working with machinery. 

What sets Grease Monkey Wipes apart is that they do not require water, making them incredibly convenient for on-the-go use. The wipes can be used on multiple surfaces, including skin, proving invaluable for quick clean-ups when soap and water aren’t readily available.

The biodegradable nature of these wipes is another major advantage. They offer an environmentally friendly cleaning solution, aligning with the increasing global emphasis on sustainable and green products. 

Additionally, despite their heavy-duty cleaning power, the wipes are safe and gentle on the skin, ensuring that users can clean up without irritation or discomfort.

Grease Monkey Wipes are an excellent choice for individuals frequently dealing with greasy or grimy situations, particularly in locations where conventional cleaning methods are inaccessible or impractical. 

Grease Monkey Wipes’ convenience, effectiveness, and environmental friendliness make them an outstanding product in the cleaning and maintenance market.

What are Grease Monkey Wipes?

Grease Monkey Wipes is a cleaning solution that removes grease, grime, oil, tar, dirt, and other tough stains from various surfaces, including hands, tools, and equipment. 

Grease Monkey Wipes are made with a powerful, citrus-based formula that easily cuts through even the toughest messes, leaving surfaces clean and refreshed. 

These wipes are perfect for use in automotive shops, industrial settings, and anywhere else where grease and grime are common. Grease Monkey Wipes are a must-have for anyone needing a fast and effective cleaning solution that can tackle even the toughest stains.

The wipes were created out of necessity when Whalen had to repair a flat tire during a 100-mile bike ride but could not clean the grease off her hands despite wiping on grass and denim shorts. The product features a citrus-oil-based wipe that offers efficient, safe, and portable cleaning. 

Grease Monkey Wipes has yet to have a patent due to the lack of resources, but Stansbury and Whalen believe that their product is unique enough to remain relatively obscure in the market.  

Grease Monkey Wipes is the perfect solution for those who love to get their hands dirty but struggle to remove the grime afterward.  The wipes are infused with citrus oil, effectively cutting through dirt and grease while leaving a pleasant aroma. 

Unlike traditional cleaning products, Grease Monkey Wipes are easy to use on the go and don’t require any additional water or cleaning supplies. Additionally, the wipes are safe to use on most surfaces, making them a versatile cleaning solution for many tasks.

Despite not yet having a patent, the creators of Grease Monkey Wipes are confident in their product’s uniqueness and effectiveness. They believe its niche appeal – catering specifically to those who enjoy hands-on work – will help it stand out in a crowded market.

Grease Monkey Wipes offer a convenient and effective cleaning solution for anyone who needs to clean up after working with grease or dirt. With their portable design and powerful formula, these wipes are a must-have for anyone who loves to get their hands dirty.

Who is the Founder of Grease Monkey Wipes?

Erin Whalen and Tim Stansbury founded Grease Monkey Wipes. Erin and Tim hail from Austin, Texas, and were avid cyclists, where the concept of Grease Monkey Wipes originated.

Erin Whalen has a background in marketing, having worked with several prominent brands to create and execute marketing strategies. This experience became invaluable when launching and promoting Grease Monkey Wipes. 

On the other hand, Tim Stansbury had a strong background in sales and had worked with numerous companies to increase their revenue and market share.  The idea for Grease Monkey Wipes was born out of personal necessity. 

While out on a bike ride, Erin suffered a flat tire. After changing it, she found herself covered in grease. With no easy way to clean off the mess in the middle of the ride, she began to think about how many other people might find themselves in similar predicaments. 

As both founders were involved in the cycling community, they were well aware of the inconvenience and challenges of maintaining and repairing bicycles, especially on the go. 

Recognizing this problem and inspired to create a solution, Erin and Tim conceptualized Grease Monkey Wipes – a convenient, effective, and portable way to clean grease, grime, and oil without needing soap and water.

They sought to make a product that would meet the needs of fellow cyclists and be useful to anyone who might encounter tough grime or grease, whether at home, at work, or anywhere in between. 

And thus, the journey of Grease Monkey Wipes began, from a personal experience to a successful entrepreneurial venture.

Grease Monkey Wipes Before Shark Tank

Before appearing on Shark Tank, the creators of Grease Monkey Wipes, Erin Whalen and Tim Stansbury, worked diligently to get their product off the ground. Their motivation was to solve a problem they had experienced: needing to clean up greasy, grimy hands while on a bike ride without access to soap and water.

After the initial idea, the founders invested time and resources in product development, ensuring the wipes were effective, safe, and biodegradable. The pair then moved on to prototyping and testing their product to ensure it met their high standards of effectiveness and convenience.

Grease Monkey Wipes were first sold at local events and small retailers and on their website as soon as they were ready. Despite their efforts, they faced challenges in expanding their market presence and scaling their operation.

Grease Monkey Wipes was well received, but a small startup with limited resources needed more guidance and support. They sought the capital and mentorship to grow their business by applying to Shark Tank and appearing there.

They hoped to leverage the exposure from the show and secure a deal with one of the ‘sharks,’ seasoned investors with the experience and network to help propel their business forward.

Grease Monkey Wipes on Shark Tank

When Erin Whalen and Tim Stansbury walked onto the Shark Tank stage in Season 1, they were well-prepared to pitch their unique product, Grease Monkey Wipes. Erin and Tim asked the sharks for a $40,000 investment in exchange for a 40% stake in Grease Monkey Wipes, valuing the company at $100,000.

The co-founders began their presentation by explaining the problem they aimed to solve: the difficulty of cleaning up tough grime and grease when out on a bike ride, at a BBQ, or in any situation where soap and water are not readily available.

The duo brought their bicycles onto the stage to demonstrate the product’s effectiveness, showing how the wipes could easily clean a greasy chain without needing water.

They emphasized the convenience of the individually packaged wipes, making it clear how useful they could be in common, messy situations.

They provided details about their sales to date, costs of production, and their plans for expanding the business, showing they had a clear strategy for growth.

The sharks received the pitch well, with several expressing interest in the product and its potential. However, there were concerns about the product’s market size, with some sharks questioning whether the product needed to be more niche. 

Regardless, the pitch sparked a discussion among the sharks, with multiple offers eventually being made. It was a high-stakes moment that reflected the potential the sharks saw in Grease Monkey Wipes, thanks to a well-prepared and passionately delivered presentation by Erin and Tim.

Kevin O’Leary expressed curiosity regarding the active ingredient responsible for removing grease, prompting Tim to disclose that it consisted of citrus oils. Kevin O’Leary inquired whether Grease Monkey Wipes had been patented for any aspect.

Tim clarified that they had yet to pursue a patent due to limited resources and a desire to protect the formula for as long as possible.

When questioned about sales, they revealed that within a few short months of being on the market, they had successfully sold 7,600 units, resulting in gross revenue of $7,400.

Astonishingly, each unit costs just $1. Tim and Erin explained that the sales volume would compensate for the low price despite Kevin O.’s doubts. Daymond John expressed admiration for the brand but chose not to invest.

Kevin also decided to pass on the business due to its lack of proprietary products, followed by Kevin Harrington, who believed the product lacked uniqueness.

Barbara appreciated the product and their approach but was unwilling to get her hands dirty as an investor. Robert Herjavec remained the sole remaining shark, exhibiting hesitation. 

However, Erin and Tim managed to persuade him to come on board. This sudden change of heart from Barbara prompted her to rejoin the negotiation, proposing to split the deal with Robert.

In the end, Barbara and Robert extended an offer of $40,000 for 40% equity, which Erin and Tim willingly accepted.

Final Deal: Barbara Corcoran and Robert Herjavec agreed to invest $40,000 for a 40% stake in Grease Monkey Wipes.

What Happened To Grease Monkey Wipes After Shark Tank?

Following their appearance on Shark Tank, Grease Monkey Wipes saw a significant boost in their business. On the show, Erin Whalen and Tim Stansbury secured an investment of $40,000 in exchange for 40% equity from Robert Herjavec.

This investment provided the necessary capital to help the company scale production, expand its market presence, and boost its marketing efforts. The exposure from the show also led to a surge in public interest and product sales.

Grease Monkey Wipes saw their online orders skyrocket, and the product also started gaining traction in retail outlets.

The strategic guidance from Robert Herjavec, a seasoned entrepreneur and investor, helped the founders navigate the growth of their business and establish partnerships that would prove invaluable to their brand. 

The company expanded its distribution network significantly through a key partnership with a major cycling products company, Performance Bicycle.

A few years after their Shark Tank appearance, Erin and Tim sold Grease Monkey Wipes to Beaumont Products, a leading manufacturer of eco-friendly consumer products. 

The sale was a significant milestone for the founders and a testament to the growth and success of their product following the Shark Tank exposure and the strategic mentorship and investment from Robert Herjavec.

Grease Monkey Wipes remain popular and well-regarded, providing a convenient and effective solution for people dealing with tough grime and grease in various situations.

Grease Monkey Wipes Shark Tank Update

After appearing on Shark Tank during the 12th season, Grease Monkey Wipes, a heavy-duty cleaning wipe product, experienced success and made significant progress.

The founders, Tim Stansbury and Erin Whalen sought a $40,000 investment for a 40% stake in their company. Eventually, they struck a deal with Barbara Corcoran and Robert Herjavec, who invested the desired amount in exchange for equity in the company.

Following its appearance on Shark Tank, Grease Monkey Wipes continued to operate and expanded its presence significantly. The wipes gained popularity due to their ability to effectively remove oil, grease, and dirt when soap and water were not readily available.

The founders attributed their achievements to the partnership with Herjavec and Corcoran, as they expanded their locations from 40 to over 500 stores and sold over 200,000 wipes.

Later, Grease Monkey Wipes was acquired by Beaumont Products, a company specializing in manufacturing and distributing eco-friendly cleaning products. Under Beaumont’s ownership, Grease Monkey Wipes continued its operations and maintained its presence in the market.

The wipes, which utilize a citrus-based formula and avoid harsh chemicals, are now sold on platforms like Amazon. A box of 25 wipes is priced at $15.97, showcasing the continued availability and success of the product.

It is worth noting that Tim Stansbury eventually bought the company from his partner, Erin Whalen, while Beaumont Products continued to run the operations.

Grease Monkey Wipes remains a leading competitor in its market segment, offering a natural, non-toxic, and effective solution for heavy-duty cleaning tasks. The wipes’ effectiveness and environmentally friendly composition have contributed to their ongoing success and recognition.

In terms of financial success, Grease Monkey Wipes achieved a net worth of over $1 million by 2022, further solidifying its position as a successful venture for Tim Stansbury and Erin Whalen.

Grease Monkey Wipes is a success story that shows what can happen when a great product meets the right opportunity. The company’s appearance on Shark Tank helped to launch it into the national spotlight, and the investment from Barbara Corcoran and Robert Herjavec gave the company the resources it needed to grow and succeed.

Who are the Investors of Grease Monkey Wipes?

Grease Monkey Founders and Creators Tim Stansbury and Erin Whalen received a transaction of $40,000 for 40% of the Shark Tank’s stock, valued at $100,000 at the time.

Beaumont Products purchased the Grease Monkey Wipes business in 2014 for an unknown sum.

Who are the Competitors of Grease Monkey Wipes?

Tim Stansbury claims Grease Monkey Wipes are more environmentally friendly because they use citrus-based recipes and avoid harsh chemicals. Grease Monkey Wipes maintains its leadership position among its top six competitors.

Quick Information About Grease Monkey Wipes

• Erin and Tim were both recreational bikers. That’s how they got to know each other.
• Tim Stansbury discussed how to juice companies squeeze the oils used for wipes after they squeeze the fruits.
• You can also clean permanent markers with Grease Monkey Wipes.

Customer reviews are almost always positive. Customers enjoy that Grease Monkey Wipes can remove dirt, permanent marker, crayon stains, and grease and filth. 

These wipes are easy to store in an automobile or a backpack since they are individually packaged. Stansbury and Whalen have greatly gained from their collaboration with Barbara Corcoran and Robert Herjavec.

Is Grease Monkey Wipes Still In Business?

According to our research, Grease Monkey Wipes is still in business. After its appearance on Shark Tank, Grease Monkey Wipes continued its operations and was acquired by Beaumont Products, a company specializing in eco-friendly cleaning products.

Grease Monkey Wipes are sold on platforms like Amazon, emphasizing their citrus-based formula and environmental friendliness.

What Is the Net Worth Of Grease Monkey Wipes?

According to our research, the net worth of Grease Monkey Wipes is estimated to be $1 million as of 2023. The valuation of Grease Monkey Wipes was $100,000 when it appeared on Shark Tank.