Touching public door handles can be a nightmare for those who want to avoid germs. Because of this, Mike Sewell has come up with a way for patrons to open a door using their feet instead of hands. Will he step into a deal on
If you’re short on time, here’s a quick overview of what happened to StepNPull after
StepNPull appeared on
|Kevin O’Leary||Accepted deal for $300,000 for 6% equity|
|Lori Grenier||$300,000 for 5% equity and a $0.50 royalty until $500,000 was paid back, then $0.20 in perpetuity|
|Daymond John||$300,000 for 12% equity|
|Robert Herjavec||No Offer|
|Mark Cuban||No Offer|
Shark Tank StepNPull Update
- Entrepreneur: Mike Sewell
- Business: Hands-free door opener
- Ask: $300,000 for 3% equity
- Result: $300,000 for 6% equity
- Shark: Kevin O’Leary
StepNPull co-founder Mike Sewell stepped into the tank during Season 12 Episode 19, to pitch his company to the sharks. Mike has created a hand-free door opener that allows you to step on it and pull the door open with your foot, as opposed to having to use your hand
Our easy-to-use foot operated, no-touch door openers allow you to conveniently open office, restroom, and bathroom doors without touching the door handle
The goal of StepNPull is to prevent the spread of germs and to help those with their hands full easily open up a door.
Mike says that he and his two partners started StepNPull 15 years prior to his pitch on
However, the COVID-19 pandemic has given their business a big boom, and he needs the shark’s help to keep up with the demand. In March 2020, during the height of the COVID-19 pandemic, Mike shared that StepNPull did $1.7 million in sales.
Further, their year-to-date sales at the time of the pitch were nearly $7 million. However, the business hasn’t always been so hot, as the company only sold $35,000 worth of products in its first five years.
Currently, the hands-free door opener costs $8-$9 to manufacture and retails for $29.95. This is a great profit margin.
Even better, Mike shared that he just found a manufacturer in Southwest Missouri that can produce the product for under $7. Mike says that the best part for him has been the people he could employ during COVID-19 when jobs were affected for so many.
Mike also shared that 25% of their sales were direct-to-consumer, with the other 75% online.
Mark Cuban chimes in at this point, sharing that he doesn’t think Mike needs an offer to continue growing. For this reason, Mark is out.
Robert Herjavec is next, and he isn’t interested in investing, so he too is out.
However, this left Kevin O’Leary, Daymond John, and Lori Greiner, who were all interested.
Kevin offered $300,000 for 10% equity, while Daymond offered $300,000 for 12% equity.
On the other hand, Lori’s deal was a bit more complicated, offering $300,000 for 5% equity. Her deal also included a $0.50 royalty until $500,000 was paid back, and then $0.20 in perpetuity.
After some negotiations, Mike made a deal of $300,000 for 6% equity with Kevin O’Leary, and StepNPull left
Keep reading our StepNPull update to find out what happened next!
Our StepNPull update research found that the company is still in business, with an estimated net worth of $15-$20 million.
In January 2021 the company announced that the Snapchat corporate office doors would feature a StepNPull. Additionally, the product is also used by Whole Foods, Google, USPS, NASA, Ikea, and many other big corporations.
Further, since airing on
Browsing through the StepNPull website, it looks like several finishes are available for the product. You can even have them customized with your company logo!
Check out their products on the StepNPull website, or on Amazon.
Before you go, be sure to check out some of our other Shark Tanks Season 12 Episode 19 updates:
For more on
Shop the Shark Tank Recap Store
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!