Contents
What is Aaron Krause’s Net Worth?
Aaron Krause is an entrepreneur and inventor who has a net worth of $100 million. Aaron Krause is greatest recognized for founding the cleansing product firm Scrub Daddy. The firm gained widespread recognition in 2012 after it was featured in an episode of the truth tv present “Shark Tank,” through which Lori Greiner made a 20% fairness stake take care of Krause. Scrub Daddy went on to develop into a multimillion-dollar enterprise with its merchandise offered in retail shops throughout the nation, consequently setting a report for the very best income of any product efficiently pitched on “Shark Tank.”
Early Life and Education
Aaron Krause was born on February 1, 1969 in Wynnewood, Pennsylvania to 2 physician mother and father. For his greater schooling, he went to Syracuse University, from which he earned his Bachelor of Science diploma in psychology in 1992.
Scrub Daddy Origins
Before Scrub Daddy, Krause ran a world buffing pad and automobile detailing firm that he based after graduating from Syracuse. All of his time repairing equipment left him with soiled palms, which proved to be a relentless nuisance; the one method to clear them was through the use of the abrasive lotion GOJO. Taking benefit of his decade-plus expertise of constructing urethane foam buffing pads, Krause set out on a mission to create a extra comfy technique of cleansing his palms. In 2007, he invented and patented a extremely engineered polymer foam hand scrubber that was grooved on one facet and had two holes punched out of the middle. Initially, the product was met with resistance from those that felt it was inessential and overly costly. This prompted Krause to sideline the challenge indefinitely, relegating the scrubbers to his storage. In the meantime, his buffing pad firm was acquired by the multinational conglomerate 3M.
In 2011, Krause picked up his previous discarded foam scrubbers from his storage and used them to scrub his garden furnishings and dishes. With all the things ending up extremely squeaky clear and unscratched, he realized he had a profitable product on his palms. Krause finally added a smiling mouth to the scrubbers, creating a chance for one more patent. He went on to launch a grassroots advertising and marketing marketing campaign for the product that resulted in a broadcast article within the Philadelphia Inquirer. This, in flip, drew the eye of an impartial dealer who booked the product on QVC. In 2012, Scrub Daddy was formally established; it was subsequently featured on 4 extra on-air QVC reveals.
Shark Tank
Although it had offered some merchandise, Scrub Daddy had hassle early on moving into main retail shops. Krause determined that the important thing was to go on the enterprise actuality tv present “Shark Tank” and workforce up with one of many present’s buyers. He in the end made it onto the present, and was featured within the seventh episode of season 4 in 2012. Krause’s pitch was favored by inventor Lori Greiner, who made a 20% equity stake deal for $200,000. The deal went via, and by the very subsequent day, the pair offered out 42,000 Scrub Daddy sponges in underneath seven minutes on QVC. Greiner went on to assist the product get offered in varied retail shops, together with Wal-Mart, Home Depot, and Meijer.
By early 2017, Scrub Daddy’s complete income surpassed $100 million, the very best for any enterprise pitched on “Shark Tank.” Five years later, in an episode of the 14th season of the present, it was revealed that Scrub Daddy had sold over $670 million in retail sales since it launched.
Scrub Daddy Products
Since the creation of the unique Scrub Daddy sponge – a high-tech polymer, yellow round scrubber with a smiley face punched into it – the corporate has made a wide range of different merchandise, with greater than 20 in complete. Among the opposite merchandise are scouring pads, erasers, cream cleansers, cleaning soap dispensers, sink organizers, and dual-sided sponges. There are additionally a variety of Scrub Daddy sponge colours and shapes, together with seasonal shapes corresponding to snowflakes and pumpkins.
Personal Life
With his spouse Stephanie, Krause has twin youngsters named Bryce and Sophie.
All internet worths are calculated utilizing knowledge drawn from public sources. When offered, we additionally incorporate non-public suggestions and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
