Everyone loves a good campfire, but human caused wildfires are devastating and often times preventable. That’s why Josh Thurmond set out to create his portable campfire; a safe, clean, and easy to use option. Will he get a deal on
Shark Tank Lavabox Update
- Entrepreneurs: Josh Thurmond
- Business: Portable campfires
- Ask: $200,000 for 10% equity
- Result: $200,000 for 12.5% equity
- Sharks: Lori Greiner
Josh shared that his Lavabox comes in three sizes, but the most popular is the smaller version which retails for $195. The landed production cost is just above $25 per unit. The larger varieties cost slightly more to produce and have a higher price range as well.
He expects to reach over $1 million in gross revenue sales by the end of the year. All of the sharks are impressed with the numbers.
Mark Cuban asks Josh how he sells the product to consumers, and he responds that most sales come directly from word of mouth.
Kevin O’Leary is very impressed and offers Josh $200,000 for 10% equity. Daymond John also jumps in, wanting 20% equity, but he wants to go down a pathway of licensing the products instead.
After the first two offers, Lori Greiner jumps in and offers $200,000 for 12.5% equity, but she wants $0.75 per unit sold until she gets $200,000 back. Her 12.5% equity would not change at any point, but would simply remain the entire time if the deal is accepted.
Josh considers his options and chooses to accept Lori’s offer.
Now that he left
Lavabox is still in business and is doing well since airing. During our Lavabox update research, we found that the exposure since airing on
As time goes on, we expect to have great news to share in our next Lavabox update. In the meantime, products are available on the Lavabox website.
Do you want to learn about the other companies featured in Season 14 Episode 18? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 14 Products Page!
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!