Rick Hopper, founder of Specsecure by ReadeREST is the brainchild inventor that connected with Lori Greiner. He’s been tinkering with one thing or another since he was a kid. His latest invention is one of the big success stories on The Shark Tank this season. I rarely scream at the TV, but when my favorite shark, Lori Greiner looked him in the eye and said “I’ll make you a millionaire,” I was on my feet shouting “TAKE IT!”
Specsecure by Readerest is a clip that attaches to clothing with a high powered magnet and it works like a charm. As a guy who has dropped and broken sunglasses that cost more than my first car, I can appreciate the Readerest. Lori Greiner is the Shark best suited for this kind of product. The ReadeRest has that “as seen on TV” price point and presentation appeal. To my knowledge, Mr. Hopper is the first Shark Tank entrepreneur to fall down on the set: he did it intentionally to demonstrate the power of his product. It’s a good thing he did too, Lori told him she “knew he had a winner” right then and there.
Rick Hopper and ReadeRest are the subject of tonight’s follow up segment on The Shark Tank. His show only aired a few weeks ago, but the Readerest has been such a success, the producers were compelled to air an update. To date, Rick has sold over $1.4 million dollars worth of his Readerest. Over $100,000 worth was sold in the first 5 minutes of his first QVC appearance. Rick and Lori are projecting over $6 million in sales for 2012. With around 126 million eye glass wearers in the USA, the market is HUGE.
Shark Tank success stories are always interesting to watch. The fact that Rick, Lori, and Readerest have taken the Specsecure to over a million dollars in sales in such a short time shows the power of the Shark Tank and the power of a great idea.
Watch the Shark Tank tonight on ABC.
Great job Rick and Lori! You guys ROCK!!!
This was obviously a massive score for Rick. Turing a $5,000 patent purchase into millions. It does make me wonder though. With so many products screaming to get on the shelves – where Sharks fight between one another to invest hundreds of thousands of dollars in products that are no better than the hundreds of others not featured on the show – where there are investors lined up to make a deal for products the sharks “reject” on the show – why are there not more incubators soliciting products from inventors? For every Shark there has to be a hundred other cash-heavy business men/women with the same interest in innovation and the same contacts to give new products the boost they need. Are they not looking for innovative products? How can they not be when a product like Rick’s has a projected turnover of $6 Million in the first year? If not for appearing on the show neither Rick nor Lori would be pulling in those dollars. The product would just be sitting on Rick’s bedside table. The flip-side could be that the success of these products is due to the exposure they receive on the show and not the inherent value in the innovations themselves. I mean, is the tv bump the key and without it would the sharks not have the same success with the products? Well, if this is the case, why are there not more reality-based shows focused on inventors? The format for which the shows could take are literally endless. Unfortunately I’m not cash-heavy, but if I had the resources I’d be a fool not to solicit products from innovators who are sitting on a gold mine(s) – rather than watching a TV show to find out what I SHOULD HAVE invested in.
Hi Ian, your summary of the power of exposures very compelling. The fact is that there is a resourse that will provide you with inventions and ideas that match your selected criteria. Check out http://www.newproductscout.com or you can go to a trade show called INPEX that is held each June in monroville PA. If you are serious about reviewing new products and potentially backing it financially, I’m sure you’ll find something that will make you say “now that’s a good idea!” I hope you find the next big thing.
Great news! Loved it when I saw you at the Brea show! Congrats Rick!
Where can I purchase Readerest??
HERE: Readerest
The specsecure by readerest is now only called the readerest. The eyeglass holders are the best around!