Grease Monkey Wipes Update | Shark Tank Season 1

Tim Stansbury and Erin Whalen identified a problem during a long bike ride when Erin struggled to clean grease off her hands after a roadside repair. This experience highlighted the need for a portable and effective cleaning solution, leading them to create Grease Monkey Wipes. In our Grease Monkey Wipes update and pitch recap, let’s see if their company can secure a deal.

SharkResult
Barbara Corcoran and Robert HerjavecAccepted offer of $40,000 for 40% equity
Kevin O’LearyNo offer
Kevin O’LearyNo offer
Daymond JohnNo offer

Shark Tank Grease Monkey Wipes Pitch

Shark Tank Grease Monkey Wipes Update
  • Entrepreneurs: Tim Stansbury and Erin Whalen
  • Business: Wipes that remove grease and other stains
  • Ask: $40,000 for 40% equity
  • Result: $40,000 for 40%
  • Sharks: Robert Herjavec and Barbara Corcoran

Tim and Erin began their pitch to the sharks by sharing the story of how a flat tire during a 100-mile bike ride inspired the creation of Grease Monkey Wipes.

They highlighted the need for an investment to expand their product into a national brand.

Grease Monkey Wipes are portable cleaning wipes designed for anyone dealing with tough grease, whether from mechanical work, cooking, or general hygiene.

These wipes are particularly convenient for those on the go, making it easy to remove stubborn grease stains from hands and body.

Designed for single use, the wipes offer a quick and easy solution for grease removal.

Tested and proven effective, they are ideal for mechanics, chefs, and anyone who needs to clean up quickly.

Their natural formula ensures safety while providing a convenient way to maintain cleanliness in various work environments.

The product’s cleaning ability impressed the sharks, but Kevin O’Leary raised concerns about its patent status.

Tim explained that they hadn’t pursued a patent due to limited resources. Thus, he relied instead on the product’s relative obscurity to protect it from imitators.

Furthermore, Tim revealed that they had sold 7,600 units in a few months, generating $7,400 in gross revenue, as the packets were priced at $1 each.

Kevin O. questioned the sustainability of such a low price. However, the pair believed that high sales volume would make up for it.

Tim also mentioned that they had a 75% success rate when pitching to new retail outlets, with 40% of those outlets re-ordering the product.

However, since the company was still young, it was challenging to determine the re-order rate accurately.

Daymond John praised the branding but decided it wasn’t the right business for him. He exited the negotiations.

Kevin O. and Kevin Harrington both declined to invest, citing concerns about the lack of proprietary content and the product’s uniqueness.

Barbara Corcoran also passed, saying that she didn’t want to get her hands dirty.

Finally, Robert Herjavec was impressed by the presentation but concerned about the numbers.

In response, Erin tried to persuade him, promising they wouldn’t let him down. After some consideration, Robert offered $40,000 for 40% equity.

Barbara decided to come back in, proposing they make a joint offer of $40,000 for 40% equity, which the entrepreneurs accepted and walked out with a deal.

With a deal from Robert and Barbara, keep reading our Grease Monkey Wipes update to find out what happens next.

Shark Tank Grease Monkey Wipes Update 

Our Grease Monkey Wipes update found that the deal with Robert Herjavec and Barabara Corcoran successfully closed, as the entrepreneurs were able to repay the investment quickly.

This success led to an update segment in Season 2. In a significant turn of events, Tim bought out both the sharks and his co-founder, Erin Whalen, making Grease Monkey Wipes his sole venture.

In November 2014, Tim sold the company to Beaumont Products for an undisclosed amount.

His decision to sell was driven by his desire to explore new opportunities, leading him to start Cat5 Elite, a bicycling-themed clothing company.

Unfortunately, this venture didn’t take off, and Tim eventually shifted his career to Houghton Mifflin Harcourt in Austin.

At the time of this writing, Grease Monkey Wipes continues to be sold through Beaumont Products.

This looks to be our final Grease Monkey Wipes update.

Are you interested in the other companies that appeared in Season 1, Episode 12? Check out the links below to see how they did during their time on the show. 

Before you go, check out our Shark Tank Season 1 page for more updates

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.