The Paint Brush Cover Update | Shark Tank Season 5
Sal DePaola, John DePaola, Anthony Caputo claim to have the solution to a problem that’s plagued anyone who has ever taken on a painting project– what to do with the paint-saturated brush when it’s time to take a break. Will their product earn a deal on
Shark Tank Paint Brush Cover Update
- Entrepreneurs: Sal DePaola, John DePaola, Anthony Caputo
- Business: Cover for paint brush
- Ask: $50,000 in exchange for 10% equity
- Result: $200,000 in exchange for 20% equity
- Sharks: Lori Greiner
New Yorkers Sal, John and Anthony are painters by trade, and they think The Paint Brush Cover is just the ticket for anyone who needs to paint a room. Their product simply snaps over the brush, keeping it from drying out or making a mess while the painter takes a break.
Two (2) Paint Brush Covers - As Seen on Shark Tank! Keeps your brushes fresh between coats without unnecessary wash ups! Lab tested for up to 6 weeks!
Anthony told the sharks that their cover can keep a brush from drying out for hours or even months at a time, retaining almost 100% humidity inside the case. By the time of filming, they had sold 17,000, for a total of $35,000 in sales. Half of their earnings had come within the three months prior.
The covers cost $0.41 per unit to make, wholesale for $2, and retail for $4. The guys sold the paintbrush cases by visiting stores in-person, and had even picked up three new stores while out hustling on the morning of their
Kevin O’Leary offered $50,000 for a royalty of 10% of all their sales. He said he would help them raise the funds they needed to get more inventory, and he would also help them get into retail. Robert Herjavec was next, and he offered $50,000 in exchange for 20% equity.
Anthony expressed skepticism about the benefits of Kevin’s offer, so Kevin doubled his investment, retained the royalty stipulation, and tacked on 5% equity. When Kevin pressured the guys to make a decision, Lori Greiner stepped in before they could agree to anything.
She made an offer for $100,000 at 20%, adding that if they accepted the deal immediately, she would throw in another $100,000 that would go toward paying for their first purchase orders. Barbara Corcoran tried to jump in with an offer of her own, but Lori told the three that if they so much as listened to her make an offer, she would pull her deal.
Mark Cuban didn’t get to make an offer, either. Sal went backstage and quickly returned to present a Paint Brush Cover company t-shirt to Lori. To the consternation of Barbara, they accepted Lori’s deal. What happened next for the company? Keep reading The Paint Brush Cover update!
We have great news to share in The Paint Brush Cover update! The company is still in business in 2023, with at least $3 million in sales, and an expanded product line. With Lori’s help, their painting products have been sold in several big box stores, Amazon and through The Paint Brush Cover website.
Would you like to learn about the other companies featured on Season 5 Episode 22? 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!
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!