Nobody wants their surroundings to smell dull and down, meaning that the last thing you want is for the surroundings to stench and not feel fresh. This is where Shark Tank’s FRSH enters the game.
Founded by Donovan Brown and Trey Brown, it is an air freshener brand that runs on the subscription model. The founders of the company came on Shark Tank asking for $200,000 for 5% equity.
If you have been intrigued by the company and want to know more about the brand and how they are currently operating, you have come to the right place.
Shark Tank FRSH Update
- Entrepreneurs – Donovan Brown and Trey Brown
- Business – Air freshener subscription model
- Ask – $200,000 for 5% equity
- Results – $200,000 for 20% equity
- Sharks – Barbara Corcoran
With a unique business model, the founders, Donovan Brown and Trey Brown took their company, FRSH on Shark Tank with hopes to raise $200,000 for 5%, which was what they originally asked for.
Even before they could pitch their brand properly, Donovan and Trey played a prank on Mark Cuban wherein they shared the sample of the air freshener with the logo of the team that defeated the Mavericks. Not liking the prank, Mark was the first one that stepped down from the deals.
Following that, the founders shared their revenue model and disclosed that they had made $1 million in sales by selling their subscription-based services directly to consumers. They also clarified that the average retaining of the subscription for each client was 4 months, after which they consider canceling.
During the pitch, one of the main questions that the sharks had were regarding the customer base. They were confused about what kind of consumers would opt for an air freshener subscription to which the founders clarified that the cab service providers and ride-share providers made up the majority of their customer base.
Not seeing much opportunity in the business idea, the sharks started stepping out and didn’t counteroffer any deal. It was Barbara Corcoran that found the concept interesting and wanted to give it a shot. She offers $200,000 for 20% equity and since there were no other offers on the table for Donovan and Trey, they readily accepted the offer.
After the episode aired, FRSH received a boost to their sales and subscriptions, bringing in more and more customers to try out their services. It is quite early to say what kind of sales they have made until now since they haven’t shared any intel about that on their website.
Currently, FRSH operates out of its official website, much like how they were doing before shark tank. They are consistently growing their operation and they are also expanding the areas they are providing their services in, which is another benefit.
It is believed that Barbara’s collaboration with the team will help the company secure better licensing deals and expand its business and services to other states in the U.S. as well. The company is thriving, even after its Shark Tank success.