Finding convenient and multifunctional cooking products is the need of the hour. Handy Pan is a brand that is product, which can enhance your versatility in the kitchen and make the overall experience fun.
For those who haven’t seen the brand on Shark Tank, Handy Pan is a cooking utensil, more specifically a non-stick pan that comes with a built-in strainer. Founded by Adam Chaudry and Josh Conway, the product gained pretty great popularity.
Although optimum figures aren’t known, it is believed that Handy Pan is currently worth $250,000.
About the Founders
Handy Pan has been founded by two best friends, Adam Chaudry, and Josh Conway, from Ohio, U.S. Although there isn’t much information about Josh’s education, reports suggest that Adam completed his education at the Ohio State University.
Following completion of their education, in 2015, Josh went on to become a partner at Chaudway Enterprises. There, they collectively worked towards building and developing both physical and digital products. Josh previously worked as a general manager in a tech firm.
Founding Handy Pan
Surprisingly, the idea of Handy Pan came to Josh and Adam out of the blue when they were playing around with napkins. Once they pretty much conceptualized their idea, the next step was to execute the plan they had in mind.
Following that, the duo started a Kickstarter campaign with hopes to generate a good investment but unfortunately, the campaign failed. Later, the duo collaborated with Priority Designs to bring their vision to life. Once the plan was in place, they were ready to launch their product in 2019.
Despite having a great idea and a great product, the founders didn’t know how to promote and market their product. They ended up spending $550 in advertising while only generating $7900 in revenue.
Handy Pan on Shark Tank
Seeing how Josh and Adam struggled with their marketing, they decided to join Shark Tank with the hopes to get some help from one of the sharks.
The company asked for $10,000 for 20% equity, which was surprisingly a pretty low sum. To this, Robert Herjavec asked the founders why their pitch was so low. To that, they responded that their intention on the show wasn’t the money but to learn ways to market their product.
It was Lori Greiner who agreed to the pitch and invested the money that the founders initially asked for.
Handy Pan after Shark Tank
Following appearing on Shark Tank, the brand gained immense fame, leading to its entire inventory getting sold out right after the episode aired.
There isn’t much information about whether or not the deal with Lori Greiner went through or not. However, irrespective of that, Handy Pan is doing pretty great when it comes to its sales. The products are now available on their official website only.
There is news that Handy Pan is in the process of expanding and making their products available on Amazon too. Their sales have drastically improved, contributing to their growth significantly.
FAQs
1. Is Handy Pan still in business?
Handy Pan has been in business ever since their appearance on Shark Tank. The company got a lot of exposure from their episode, which was reflected in the sales they made. They are booming in the market right now.
2. How many sales does Handy Pan have?
When they appeared on Shark Tank, Handy Pan made around $8000 in sales, which was one of the weakest points for the business.
3. How much is Handy Pan worth?
With the steady rise in their sales and their branding across the U.S., Handy Pan currently has a net worth and valuation of $250,000, which is massive.
