The Wall Doctor Rx Update | Shark Tank Season 5
Forensic pathologist Jim Lewis, created a hole patching kit for walls that he says will save users time and money. Will this self-proclaimed “wall-ologist” get a deal on
Shark Tank The Wall Doctor Rx Update
- Entrepreneurs: Jim Lewis
- Business: Home improvement – wall repair
- Ask: $150,000 in exchange for 10% equity
- Result: $150,000 for 0% equity, with the exclusive right to sell the product internationally
- Sharks: Robert Herjavec
Jim brought his company, The Wall Doctor Rx to the tank. He shared that normally, repairing a hole in the wall would require a half dozen tools and compounds, but his all-in-one product simplifies the process. With just a few quick and easy steps, his kit means anyone can patch a hole.
His patented patches cost $2-$2.50 to make, and retailed from $7 to $10 depending on the size. He had already sold 80,000 wall patches in the three years before appearing on
Robert Herjavec offered Jim $150,000 for zero equity, allowing Jim his U.S. sales in full, but, Robert wanted to buy the product at-cost (around $2) for the exclusive rights to sell the product everywhere else outside the U.S.
Kevin O’Leary was next, offering $150,000 in exchange for 15%. He wanted to license the product to a company that would handle the manufacturing, distribution, and logistics. Jim would simply get a check every month, allowing him to focus more on his work as a forensic pathologist. Daymond John made the same offer to Jim, except he upped his investment to $300,000, doubling Jim’s request.
Lori Greiner offered $300,000 for 20% equity. Lori said that if she got the deal, she would immediately have an infomercial produced for The Wall Doctor Rx, and she would get the product on QVC. Mark Cuban was out, but said he was available to answer questions Jim may have about his prospects.
Jim wanted Robert and Lori to partner for the deal, but those two didn’t like that idea. Robert was offended that Jim wanted to bring Lori in, but ultimately, he got over it. Eventually, Jim accepted Robert’s deal. What happened next for his company? Keep reading The Wall Doctor Rx update to find out!
We have sad news to report. After the episode aired, the company had great success, and Lori invested a little later, so he got both sharks after all. It was sold in major U.S. home improvement stores, and on QVC. A few years later, the brand was acquired by Spark Innovations, LLC, however it no longer seems to be in production. This will be our final The Wall Doctor Rx update.
Would you like to learn about the other companies featured on Season 5 Episode 13? Follow the links below for our other company updates from the episode.
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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!