Kit Lender Update | Shark Tank Season 11

Ski gear like jackets, pants, gloves, and goggles can be expensive. And if you only ski one or two weekends a year, are you really getting your money’s worth? That basic premise prompted Forrest Shinners to create a gear rental service. Will the sharks book this ‘kit’ for a deal during the Season 11 pitch? Find out in our Shark Tank Kit Lender update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Kit Lender after Shark Tank!

Forrest Shinners appeared on Shark Tank Season 11 and left without a deal. In terms of a Kit Lender update, the company is still in business and has grown its annual revenue to around $2.8 million since Shark Tank. Further, Forrest has partnered with brands like Yeti, North Face, and even former Shark Tank company Bombas to expand into other markets.

Shark:  Result:
Kevin O’Leary No Offer
Robert Herjavec No Offer
Barbara Corcoran No Offer
Lori Greiner No Offer
Mark Cuban No Offer

Shark Tank Kit Lender Update

Kit Lender update

  • Entrepreneur: Forrest Shinners
  • Business: Ski gear for rent
  • Ask: $200,000 for 7% equity
  • Result: No deal
  • Shark: None

Forrest brought Kit Lender to Shark Tank Season 11 Episode 9. His mail-order rental service is set up to deliver ski ‘kits’ to families for the occasional ski trip.

He has been skiing since he was a kid. In fact, his family owns a ski shop in Vermont, and he’s all about the sport.

He eventually moved to New York City, but would bring friends back to his family’s home in Vermont for skiing. However, his friends didn’t have ski gear, and it was expensive to buy.

To keep them from having to buy their own equipment for a one-time trip, his family let his friends borrow gear and this is when he thought that gear rental would make a great business.

As Forrest shared with the sharks, a customer goes on the Kit Lender website and puts together a kit of gear. Then, the company ships it in a garment bag to your home or hotel, and you return it by mail with prepaid postage.

Kits for kids cost the customer $18-$22 per day and adults are $30-$44 per day.

Kit Lender made $755,000 in the year prior to filming, netting $106,000 of that. The inventory is going to be a huge problem and Forrest notes that they have about $550,000 in wholesale inventory, and they need to rebuy gear every three seasons.

Lori Greiner is the first to drop out, stating that she doesn’t ski and doesn’t like the inventory nightmare that Kit Lender will come up against.

Mark Cuban drops out as well, stating that this company is going to need a lot of money to keep going in any capacity, and it’s just not there for him.

Barbara Corcoran says she’s taught five kids to ski, and it was difficult because she had to outfit them every year since they outgrew their gear. It’s a good idea, but it’s just not for her.

That leaves Kevin O’Leary and Robert Herjavec. Kevin thinks that Forest needs to focus on getting in with the big ski resort companies, but he’s out.

Robert agrees, stating that it’s a great idea, but he needs to find a way to be there when customers book their vacations and not afterward. Robert thinks the company needs to move quicker, and he’s just not in for that.

Unfortunately, Forrest walks away without a deal, but how is the company doing after Shark Tank? Keep reading our Kit Lender update to find out!

We have good news to share in our Kit Lender update! The company is thriving today with an estimated $2.8 million in annual revenue.

They now do more than just snowboarding and skiing, and you can find camping, hiking, triathlon, and swimming gear to rent on the Kit Lender website. It seems they’ve expanded to just about any cost-prohibitive outdoor activity sphere.

Additionally, our Kit Lenders update research found that Forrest has partnered with some big brands, including Shark Tank fan favorite, Bombas, as well as other brands like Spyder, The North Face, Yeti, and many more!

We’re sure the sharks regret not investing in this one!

You can find the other company updates from Season 11 Episode 9 here:

For even more on companies and products, be sure to stop by our Season 11 products page!

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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!