Many entrepreneurs pitch their products and concepts on Shark Tank hoping to get a deal with one of the panelists. While some companies have been successful after appearing on the show, others have not. The company behind the spatty daddy net worth, Spatty Daddy, is one of those that did not land a deal with the Sharks but has gone on to become a popular consumer product.
Spatty Daddy is a small spatula designed to scrape out every last bit of liquid product from bottles and other containers, including foundation. It was developed by Cheryl Rigdon, who appeared on Shark Tank in Season 4, Episode 405 of the sales pitch show in June 2012. Rigdon sought a $50,000 investment from the Sharks in exchange for 40% ownership of her business. The Sharks had mixed reactions to the product but all got a kick out of the name.
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After the segment aired, Rigdon received a flood of orders but lacked the capacity to fulfill them. As a result, she had to delay shipping for two months. Since then, she has boosted production and is now able to meet demand. The Spatty Daddy is available for purchase on the company’s website and Amazon.
The Spatty Daddy was created to solve the problem of wasting expensive liquid makeup products by not being able to scrape out every last drop from the container. Studies show that between 17% and 25% of products are thrown away because they can’t be fully removed from the packaging. The spatty daddy allows customers to save money and the product pays for itself after just a few uses.
Rigdon has sold more than $2 million in Spatty Daddy spatulas and currently generates about $41,000 per month. The company is based in Columbia, South Carolina and sells the product in multiple brick and mortar stores including Wal-Mart, Bed Bath and Beyond, Hammond Discount Health & Beauty, and Albertsons Marketplace, as well as online at Amazon. Spatty Daddy is also available in a variety of themed editions such as holidays, metallic, and more.
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Despite not making a deal on Shark Tank, Rigdon has a bright future ahead of her. The Spatty Daddy is an extremely useful and affordable tool that consumers will enjoy using, and she has even found ways to make the product more profitable. For example, she is donating a portion of the profits to groups that provide clean drinking water to third world countries. She is also working with other companies to develop more products in the Spatty Daddy line. It is clear that this was a smart decision for Rigdon and her family.