Mikey Bashawaty and Jeremy Quillico are the founders of Float n’ Grill, a floating grill that lets you cook while your boat is on the water. The idea came to them after Bashawaty purchased a jet boat that was too small for a grill. As a result, he designed his own floating grill to solve the problem and shared it with his friend Quillico. The duo spent some time perfecting the design and patented their invention. They also built up inventory and launched a Kickstarter campaign in 2017 asking for $200,000. Unfortunately, they only managed to raise $862 on the project. Despite this, they weren’t discouraged and pressed on.
They then decided to take their product on Shark Tank, which is where entrepreneurs try to secure a deal with one of the sharks. They pitched a full prototype of their product and were energetic about explaining it to the sharks. However, none of them were interested in investing at first. It took a while before they were able to get a shark to bite.
Guest Shark Daniel Lubetzky eventually stepped up to save the day for the two inventors, offering them $100,000 in exchange for 22.5 % of the company. He also threw in a $100,000 loan at 7% interest and 50% of any licensing deals. The deal was a lifesaver for the company and it appears as if they’re doing well post-Shark Tank.
Despite this, it’s difficult to determine how much the company is worth. The Float n’ Grill website has only been updated once in the past year, and there is limited information on their social media accounts as well. The company is based in Detroit, Michigan and has 1-10 employees working full-time.
The Float n’ Grill net worth is likely to increase as the company continues to grow. There are a number of reasons for this, including the fact that they’ve been featured in a number of high-profile publications, such as Us Weekly and Rolling Stone. As a result, more people are aware of the product and its benefits. Additionally, the Float n’ Grill has seen an uptick in sales since their appearance on Shark Tank.
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However, a lot of experts are skeptical about the float n’ grill net worth. It isn’t clear whether the company can continue to sell their product at such a high rate or not. They may be able to make more money with a more competitive pricing strategy or if they can lower their production costs. Regardless, they’re still a relatively new company, so it’s too early to tell what their future holds.