What exactly happens when an expert wanting to create an organic medical remedy for cracked skin injuries encounters a professional executioner working in the cosmetics and palm lotions sector? A business called Doc Spartan was established!
In February 2017, business owners Dale and Renee presented their Doc Spartan on Shark Tank. The company appears to have exploded since that time. Their journey has also branched out into additional categories.
Find out further about the development of Doc Spartan including its inception here.
Quick Facts
| Founders name: | Dale King, Renee Wallace |
| Business details: | All-natural first-aid ointment |
| Founded in: | 2015 |
| Location : | St Portsmouth Ohio, USA |
| Asking of Company: | $75,000 for 15% equity |
| Accepted Deals: | $75,000 for 25% equity |
| Sharks on board (Investors): | Robert Herjavec |
| Shark Tank Episode: | Season 08 Episode 16 |
| Net Worth: | $3.25 Million |
| Business Status: | Active |
| Last Updated: | Mar 19, 2024 |
| Social Media: | Instagram |
About the Founder
To gift to the near and dear ones, Dale King and Renee Wallace decided to create organic beauty items. Wallace started producing goods in the kitchen for patrons of King’s Fitness Center. Wallace is married to a retired army pilot, and King served in the service during Operation Iraqi Freedom.
When the opioid crisis reached the town of Portsmouth, Ohio, the couple realized that their goods might grow into a profitable business, giving the individuals in the treatment they were employed with opportunities and an ongoing source of income.
Founding the Doc Spartan
Underarm fragrances, soap as well as scrubs, beards and beauty products, and even items for caring for pets have all been manufactured and offered by Doc Spartan. Aromatic oils, essential oils, and vitamins are among the organic and domestically derived substances.
Doc Spartan is beyond just a line of skincare items. It is an organization that was founded on idealism and commitment to society. The pair have found that the most satisfying component of their venture lies in the job prospects Doc Spartan facilitated to former addicts.
Shark Tank Appearance
In season eight of the popular commercial program, Shark Tank, Dale and Renee introduced Doc Spartan. They demanded $75,000 in funding in exchange for a 15% ownership stake.
Sharks in general did not share King and Wallace’s optimism. The Combat-Ready Ointment’s presentation and branding bothered Lori Greiner, he was baffled.
In Kevin O’Leary’s opinion, the result had not yet become investible. Though, he appreciated the product, but was not willing to take the risk.
Mark Cuban also exited the pitch doubting their basic information about entrepreneurial matters.
But, Herjavec was ready to experiment with the organization. He comforted the owners and said that he would drive alongside both of them. He made a proposition for a $75,000 investment for 25% ownership. He liked the marketing and promotional work the business owners did. The proposal was matched by Dale and Renee who offered a 20% risk but Robert refused to compromise, so a bargain was agreed upon.
After Shark Tank
After collaborating with Robert Herjavec, almost 4thousand units were sold in a week. Doc Spartan started marketing online through Amazon.
The company also received help from Herjavec to obtain items into PX outlets on military installations.
During the Shark Tank debut, the valuation of the company was $56,000. After joining hands with Robert Herjavec, their business was valued at $1.7 million as of 2021,
However, they went on to accumulate a current projected financial position of about $3.25 million.