Garage Door Lock Shark Tank Update

Garage door lock by elocksys went into the shark tank asking for 275k for 30 equity.

Garage door lock shark tank update. Elocksys company owners were presented with the challenge of cost effectively bringing their remote control dead bolt garage door lock to market. After shark tank garage door lock teamed up with california lock manufacturer guardian. This aint no start up. Mr white has sold quite a few of his garage door locks over the years.

The founder of chapul pat crowley of salt lake city utah pitched his business on shark tank in march 2014. John has been a long time shark tank fan. Depending on who you believe the company does anywhere from 1 million to 5 million in annual sales. Other locks secure the door to the frame.

Haven is anchored to the floor engaging with the bottom of your door and reinforcing the entire width of it. Daymond offered the 275 for 40 contingent on getting a licensing deal. Guardian reported that it redesigned the electronics resourced components and simplified the assembly of. He loves the show because he s an entrepreneur at heart.

With an initial production run of product tooled and manufactured locally their product cost was greater than the price a. He went into the tank seeking an investment of 50 000 in exchange for 5 percent equity. The website is still active allowing customers to order a garage door lock but the social media accounts went silent as of 2014. After receiving the financial and advisory backing of shark daymond john on the hit abc cnbc series shark tank.

The sharks all agreed there was a serious need for this product and were shocked to learn how easy it is to enter a home through the garage door. The garage door lock after shark tank few likes on facebook there has not been much activity with the garage door lock after shark tank as one would expect with a business that got a deal on the show. Episode 309 update garage door lock shark tank s success on cnbc. The lock is constructed of military grade steel and nylon and industrial strength polycarbonates and uses a simple but uniquely designed wedge to protect a door from intrusion.