Highlights
- From FunBites to ReadeRest, Shark Tank has offered viewers valuable and affordable products in different seasons.
- Lori Greiner leads the list of Sharks who have invested the most in budget-friendly Shark Tank products.
- Despite the low price, find out which products have become multi-million businesses.
Shark Tank came to our big screens in August 2009. After running successfully for over a decade with 15 seasons, some episodes stood out. The main attractions of these episodes were the products showcased and their practicality.
The entrepreneur stories and innovation associated with them have made the show stand out amongst a sea of reality shows. But the most unique quality of Shark Tank is that it has something in store for both the Sharks and the audiences. Based on what they analyze about their profitability, the investors decide on investing in a product.
On the other hand, the viewers are always keen to know how the negotiations and investment deals develop with every pitch. And more than that, they look for products that can benefit them in any way.
Below is a comprehensive list of inexpensive Shark Tank products that are not just budget-friendly but also practical:
1. FunBites
A food cutter that is made of BPA-free plastic, ideal for kids with fussy eating habits has found its way to the list of inexpensive Shark Tank products. FunBites is easy to use and fun to plate.
The product’s blade helps you cut any food into a desired shape to make eating an exciting experience. You can find FunBites in different geometric patterns and colors.
Price: It is available at a price of $10.99 on Amazon.
Here’s a quick flashback into FunBites’ Shark Tank episode:
Bobbie Rhodes, a momtrepreneur, approached the Sharks seeking $75 for FunBites at 20% equity. She came up with this product while finding a pertinent solution to the picky eating habits of her daughter.
The Sharks liked her pitch a lot, which resulted in fierce competition between Lori and Daymond. While Lori offered $75K for 25% equity, Daymond proposed $100K for 25%.
Mark also expressed his desire to invest. Bobbie asked Lori if she would like to join him, which she denied. Ultimately, the deal was locked with Lori alone.
The latest update about Funbites is that it is going strong after appearing on a string of QVC and TV commercials. It is being sold globally and has earned $2 million in annual revenue (as of 2024).
2. Better Life
Better Life is the perfect pick for those looking to cleanse different corners of their homes using one product. This cleaner is suitable for removing germs and bacteria from any surface.
The product is free from any harmful chemicals. So you can use it without worrying about the health and safety of your young ones or pets.
Price: You can currently find Better Life on Amazon for $12.
Here’s a recap of Better Life’s Shark Tank journey:
Kevin Tibbs and Tim Barklage sought $400K for a 7% equity stake in Better Life. In 2014 alone, they managed to make sales over $2 million, which intrigued the investors.
They used to sell their products on their website along with Amazon, Whole Foods, and Crate and Barrel. Soon, they received flying offers from Lori, Daymond, Kevin, Mark, and guest Shark John Paul DeJoria. After intense negotiations, the entrepreneur duo sealed the deal with Lori at $500K for 10%.
The company grew manifolds after the deal with Lori but was acquired by Bissell, Inc., in 2018 for an undisclosed amount. Its products, though, are still available on Amazon, and Better Life has earned an annual revenue of $8.7 million.
3. Hiccaway
Hiccaway is a solution for hiccups that are hard to cure. The product is an “L” shaped straw available for children and adults.
Hiccaway is scientifically backed and easy to use. It is free from the hassles of using medicines or ineffective natural methods, such as paper bags and cough drops.
Price: Available for a varied age demographic, its lowest price at Amazon is $7.
Dive back into the Shark Tank episode of Hiccaway:
Dr. Ali Seifi, Amanda Azarpour, and Victor Feldberg brought the investment sought, $250K for 10% equity, to the show. After describing the product’s functionalities and benefits, the entrepreneurs revealed that they began their journey on Kickstarter.
The Sharks were further impressed by its scientific backing and video testimonial. Mark and Kevin were the only ones to make an offer. The deal was finalized with Mark for $250K at 20% equity.
The company outperformed and is now available in Australia, Canada, China, Japan, Spain, Germany, the UK, and Italy. Further, it is expected to make lifetime sales of $11 million by 2024.
4. ReadeRest
ReadeRest is among the most inexpensive yet valuable Shark Tank products. This magnetic eyeglass holder helps you protect your spectacles from falling in the most hassle-free manner.
Suitable for both men and women, the stainless steel product can be clipped on any type of clothing, providing a secure place to hang your glasses. It is an accessory for any occasion.
Price: Currently, ReadeRest is available on Amazon at a discounted price of $5.49. It is also available on Walmart at $14.81.
Have a look at how ReadeRest grabbed a deal from Shark Tank:
Rick Hopper sought $150K for 15% equity in his company ReadeRest. Before Shark Tank, he had already made more than 100,000 units by hand and made over $65K in sales. The reason he approached the Sharks was for assistance in manufacturing and distribution.
Lori was the only one to make an offer at $150K for 65% equity, which was accepted by Rick.
The product was a hit and it has emerged as a leading player in the industry with over 126 million eyeglass wearers across the USA. By 2015, it had made sales worth $13 million. Further, it expanded its market and began selling reading glasses. Its current annual revenue is $5 million (as of 2024).
To Conclude
From FunBites to Hiccaway, different Shark Tank products have carved a niche in their market by catering to specific user needs while keeping affordability in mind. These success stories inspire new entrepreneurs planning to try their luck on Shark Tank. Additionally, they act as a testament that when great ideas get the right opportunity, the impact created can be huge.
References
1. 49 Inexpensive “Shark Tank” Products People Actually Swear By, BuzzFeed, Natalie Brown
2. 30 “Shark Tank” Products Worth Your Money, Readers’ Digest, Emily DiNuzzo
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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