Garage Door Lock Update | Shark Tank Season 5
Garage doors are not as secure as most people think. That’s why Bryan White has invented an automatic locking solution. Will it help him earn a deal on
Shark Tank Garage Door Lock Update
- Entrepreneurs: Bryan White
- Business: Home security for garages
- Ask: $275,000 in exchange for 30% equity
- Result: $275,000 in exchange for 35%, with a licensing contingency
- Sharks: Daymond John
Bryan told the sharks that there is a home break-in approximately every 15 seconds. The door nearly everyone leaves unlocked is the electric garage door, as most people don’t think about it. He’s come up with an easy way to reduce this risk, with his Garage Door Lock product.
His product is compatible with any garage door system, and uses a remote similar to a garage door opener. They retail for $250, and at the time of filming, Bryan had sold 450 of his lock kits for a total of $112,000 in sales, completely online. He invested $250,000 of his own money into his company.
Barbara Corcoran told Bryan that he was a great inventor, but not a good salesman, so she was out. Mark Cuban agreed, so he was out too. Kevin O’Leary said he would be a customer, but he didn’t want to invest, so he was out next.
Daymond John offered $275,000 in exchange for 40% equity, with the contingency of securing a license. Robert Herjavec offered $275,000 in exchange for 70% of the company. Bryan countered Daymond for 35%. Daymond agreed and Bryan walked away with a deal. What happened next? Keep reading our Garage Door Lock update to find out!
We have good news to share in our Garage Door Lock update! It has been reported that Bryan’s company shut down, or the product is no longer being manufactured, but we found that’s not the case. The company is still in business, and as of November 2022, an updated version of Bryan’s product is for sale through his company’s rebranded ELockSys website.
Would you like to learn about the other companies featured on Season 5 Episode 21? Follow the links below of our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 5 Products Page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!