Conventional landscapers use harmful chemicals to maintain lawns. That’s why Mike Canaday and Matt Richmond joined together to create a better solution; renting out goats to customers! They say goats offer a safe and eco-friendly alternative to landscaping. Will their company earn a deal on
Shark Tank Rent A Goat Update
- Entrepreneurs: Mike Canaday and Matt Richmond
- Business: Goat rental for lawn care
- Ask: $150,000 in exchange for 25%
- Result: No Deal
- Sharks: None
Mike and Matt brought their goats to the tank, putting the real stars of their company, Rent A Goat, on display. The men aimed to bring their carbon neutral, herbicide-free, self-fertilizing lawn and land clearing service to the masses. Matt ran their website, while Mike took care of the goats.
When someone with a lot of land needed foliage removal or a zero-emissions mow, they would request a goat mow. Rent A Goat would dispatch the goats to the customer site, and the goats would then eat all the vegetation the customer wanted gone. When the job was done, the goats would get a ride back home to wait for their next job.
Matt told the sharks that Mike was able to gross $600,000 per year renting out his goats on Matt’s site. According to Mike, 450 goats are able to clear an acre a day. Surprisingly, the majority of their customer base was made up of municipalities and homeowner associations. Mike went on to explain that one of their clients needed 130 acres cleared, for which Rent A Goat was able to charge $70,000.
Mark told the pair that there was nothing exclusive about their particular goat rental service, and that others could easily go buy goats and rent them out, so he was went out. Barbara Corcoran was also out, telling Matt that not all goat wranglers would be as reliable and dedicated as Mike, and that could be a problem for his business model. Lori Greiner said it was too early in the business’ life cycle for her to invest, so she was also out.
Robert Herjavec was next to go out, and he told the two he admired their idea, but couldn’t follow the business plan. Last but not least, Kevin O’Leary was the last shark out, causing the guys and the goats to leave without a deal. What happened next for their company? Keep reading our Rent A Goat update to find out!
We have great news to share in our Rent A Goat update! We were thrilled to find that Mike, Matt, and the goats are still hard at work, all these years later. The Rent A Goat website currently lists two large service areas: one in Northern California and one in Southern California. Mike is serving as Director of Operations for the company, and Matt is CEO.
Would you like to learn about the other companies featured on season 5 episode 5? 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 5 Products Page!
Shop the Shark Tank Recap Store
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!