Standard window screens are stiff, and the frames break and bend easily. If you’re tired of replacing your window screens due to bent frames, Joe Altieri has a solution for you. Flexscreen is a new standard for windows. Will the sharks be open to a deal with this potential new standard during the Season 11 pitch? Find out in our
Shark Tank Flexscreen Update
- Entrepreneur: Joe Altieri
- Business: Flexible window screens for home
- Ask: $800,000 for 6% equity
- Result: $400,000 & $400,000 line of credit for 50% of new retail
- Shark: Lori Greiner
Joe Altieri, a “window guy,” came up with the idea for Flexscreen while trying out different things in his garage. After 20 years in the window business, he got tired of seeing bent, broken aluminum frames.
So he invented Flexscreen, which uses a proprietary frame that bends without breaking, making it easy to pop the windows in and out of your windows. He got a patent, and the company seems to be doing well, with $5.1 million in sales during the previous year.
The sharks are blown away by this at first. Then, Joe explains that he only made about $40,000 profit on those sales. He only makes $1.50 on each screen sold, due to the window manufacturers being unwilling to budge on the price.
When the sharks begin asking further questions, Joe reveals that each screen is custom-made, which understandably causes some very upset noises among the sharks. Lori Greiner asks why regular screens can be made for custom sizes, but Joe says that all window screens are custom-made.
Following this revelation, Robert Herjavec drops out. He doesn’t think window manufacturers will market it for a higher cost, which makes it a no-go for him. Barbara Corcoran, on the other hand, likes the idea. She offers Joe $400,000 in cash, with a $400,000 line of credit for a 50% stake. However, she doesn’t want a stake in the existing business. She wants to create a business that would manufacture 12 standard window sizes only.
Kevin O’Leary also makes an offer but in a very different way. He wants one major licensing deal with the largest window manufacturer in the country in exchange for $800,000 for 20% equity.
But the offers don’t stop there. Lori offers her hardware expertise and wants to sell directly to consumers. She offers $400,000 in cash and $400,000 as a 36-month loan at 6% interest for 10% equity.
This causes Kevin to revise his offer to $800,000 as a loan with 9% interest for 6% equity.
The bidding war is chaos. Mark Cuban, seemingly forgotten, drops out because he isn’t a ‘window guy.’ Barbara tries to convince Joe to take her deal, stating that her brother is in the window business as well.
Lori takes the last big step: she matches Barbara’s original offer of $400,000 in cash, $400,000 line of credit, and 50% stake in a new retail company. Joe thinks that Lori has more experience in the field, so he decides to take her offer.
Is Flexscreen the new standard in windows? Find out in our
It looks like Lori was a great partner for Flexscreen. They’ve expanded to retail and manufacturing markets, and Lori was able to get a deal with a large window company to use these screens as a standard. You can also find Flexscreens for sale in Home Depot, in addition to their manufacturer and consumer websites.
According to the update segment on Flexscreen (which aired during Season 12), the company did $15 million in sales in 2020 alone. Projected sales for 2021 are around $20 million. Soon, Flexscreens might just be everywhere!
You can find the other company updates from Season 11 Episode 10 here:
Don’t forget to take a look at our Season 11 products page! We’ve got more company updates from