What is a surefire strategy to be a Shark Tank contestant? Create something so distinctive and essential that thousands of competitors auditioning to attend the Show enquire about your product and its marketability.
Repairing the wall is considered to be a difficult job, but if you have a Wall Doctor with you, it will mend your difficulty. It is a very simple way to use and repair the leaks and cracks in your wall.
The company premiered on Shark Tank in 2014, episode 13 of season 5. Find out what happened after that.
Quick Facts
| Founders name: | Dr. Jim Lewis |
| Business details: | Drywall repair kit |
| Founded in: | 2008 |
| Location : | Northup Way, Bellevue, USA |
| Asking of Company: | $150,000 for 10% |
| Accepted Deals: | $150,000 for 0% + international rights |
| Dragon on board (Investors): | Robert Herjavec |
| Dragons’ Den Episode: | Season 05 Episode 13 |
| Net Worth: | $5 million |
| Business Status: | Active |
| Last Updated: | Mar 18, 2024 |
| Social Media: |
About the Founder
When Jim Lewis was placing up the decorations for Christmas in his house, he accidentally punched a gap in the wall and suddenly sparked the idea for Wall Doctor Rx.
Jim is a pathologist with a forensic background from Chester County, Pennsylvania who, as stated, assisted at the O.J. Simpson’s trial as a DNA expert.
Founding the Wall Doctor Rx
Wall Doctor Rx offers people a straightforward substitute for all of the equipment and materials you typically use to repair an opening in the surface. This product is up to 4” in diameter which costs less than $10.
Any homeowners can fill gaps using a 2-step procedure that uses a special disc and a framework with a solution. Give it time to air out, and then sand down.
Shark Tank Appearance
Jim came to the Shark Tank seeking to get $150,000 and agreed to donate 10% of the stock in exchange, with a valuation of $1.5 million.
When Dr. Lewis made an appearance on Shark Tank, his technology was already carrying a thriving market. To grow his company’s image he merely required monetary assistance and an adviser.
The first shark to provide a non-equity sum of $150,000 was Robert Herjavec. He asked for authorization to market the goods abroad.
For 15% of the shares, Kevin O’Leary pledged $150,000 and requested worldwide shipment. However, Daymond John accepted Kevin’s terms of $300,000 for a 15% interest in exchange for his offer of $300,000. But Jim was not satisfied with the deal.
With a $300,000 offer for 20% and a pledge to promote Quality Value Convenience (QVC) and the wider marketplace, Lori Greiner proposed. Dr. Lewis questioned Robert and Lori about a request after Mark Cuban had left.
But despite his responses, the sharks were not satisfied. In reality, Robert was on the verge of declining, but Jim persuaded him to continue in the field, and both of them struck a bargain.
After Shark Tank
According to PitchBook, the transaction was successful because Robert Herjavec is acknowledged as an angel shareholder. He made a $ 150,000 donation. According to reports, it is said that Lori Greiner might also have been involved in the agreement. After a few years, the company was obtained by Spark Innovations, LCC.
The Wall Doctor updates are available online on several platforms. For instance, a 2” patch costs $5.99 on Amazon.com. They are additionally available in renowned hardware retailers like Lowe’s.
The business is valued at more than $5 million. However, as a 2024 update, the brand has been removed from Amazon.