Safe Grabs Net Worth

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Safe Grabs Net Worth ^ Cyndi Lee, a resident of Houston, Texas, came up with the idea for SafeGrabs when she was a child and realized that she was too sluggish to use a towel when removing hot plates from the microwave. When you are cooking, you can put your SafeGrabs to use as a placemat, a trivet, or even as a potholder or a utensil rest.

Safe Grabs Net Worth
Safe Grabs Net Worth

Following its appearance on the television show Shark Tank and subsequent going public, this remarkable company has already generated more than $5 million in retail sales in just three short years. When you use this great, very flexible, and multi-purpose silicone mat, there are almost no limits to what you can do.

After making an appearance on “The Steve Harvey Show,” she was able to bring even more attention to her rapidly growing company. A viewer who took part in the live show suggested to Cyndi that she change the name of the company. Safe Grabs were developed as a thank-you gift for her assistance with the project.

As a direct result of Cyndi’s marketing efforts, her new product was featured on a Houston-based TV news show. It took Cyndi three years to sell $310,000 worth of Safe Grabs, but the difficulties she experienced with her initial manufacturer nearly caused her to go bankrupt.

In the first year that Safe Grabs was in business, the company did not earn a profit. Cindi was compelled to live with her parents and hold down two jobs in order to make ends meet because she was unable to save enough money for an apartment of her own.

Cyndi Lee, the founder of Safe Grabs, appeared on Shark Tank Season 8 Episode 5 to compete against the sharks and pitch them an investment opportunity in her versatile kitchen silicone disks. She claims that she was inspired to invent these disks as a result of her habit as a child of burning her fingers after picking up hot dishes directly from the microwave. The most up-to-date information regarding Safe Grabs may be found on this page.

The Shark Tank Blog is regularly updated to provide entrepreneurs who have been featured on the Shark Tank television show with relevant information, and it serves as a resource for those individuals. Because of Lori’s arrangement, Safe Grabs were all sold out on QVC the day after an episode of Shark Tank had aired. In Episode 825 of Season 9, the cast discusses the most recent events that have taken place.

The achievements of the company will be discussed in detail during the update portion of the event. Cyndi brings in a total of $2.4 million in revenue throughout the course of a single year. Since that time, she has included pinch mittens in the assortment of goods that she sells. It is anticipated that the company will have generated revenue of $4 million by November 2021, when it will still be operational.

Safe Grabs Net Worth
Safe Grabs Net Worth

Cyndi demonstrated how simple it was to make use of the Safe Grabs while maintaining her professionalism and self-assurance throughout the process. In the microwave, your food plate would go on top of a flexible disc that was placed on the turntable before the microwave was turned on.

Cyndi Lee would enter Shark Tank with a $75,000 investment in Safe Grabs and a 12% stake in the company. After receiving four rejections each and one acceptance, Lori Greiner and Cyndi Lee came to an agreement over a 25 percent ownership stake in Safe Grabs.

Mark believed that Safe Grabs was more of an individual product than a viable business with growth potential. Mark was quite impressed by Cyndi’s presentation. After everyone else had left the arena, he was the first Shark to leave.

Kevin was persuaded by Cyndi’s presentation that the packaging of Safe Grabs did not adequately express the benefits of the product to the target audience. He was impressed with Cyndi’s presentation, but he was concerned that the product would not sell itself in the absence of her fervent explanation and hands-on demonstrations. He was nowhere to be found.

After listening to her pitch for this one-of-a-kind product, Robert told Cyndi that, in his opinion, she would make an excellent spokesperson for the company. In addition, he had no interest in either the product or the company, which meant that he was eliminated from the competition.

Cyndi Lee, who was born and raised in Houston, Texas, is living proof that need is indeed the mother of innovation. She developed Safe Grabs in order to solve a problem that she had always struggled with. Her invention is a handy utensil for the kitchen that may be put to a variety of different uses.

People who are similar to her have the choice of employing Safe Grabs in place of a towel when pulling hot food out of the microwave. This will keep their hands safer. The Safe Grabs product can be used in many ways, such as as a trivet, a pot cover, and a gripper for opening jar lids.

Cyndi first referred to her concept as the Micro Easy Grab when she originally conceived of it. Later on, though, she changed the name so that it more accurately reflected the breadth of the product.

The look that Cyndi was giving off was one of real concern. Despite their appreciation for her perseverance and efforts, the four Sharks opted not to invest in Safe Grabs, despite the fact that they loved her and thought she had a good idea. It would come down to Lori as the deciding factor.

At this point, the Sharks pounced on Cyndi with a flurry of questions, the first of which was about the profit margins of Safe Grabs. Cyndi elucidated that the Safe Grabs were available in two different sizes. It was a blessing that Lori had an interest in Safe Grabs and Cyndi because she was anxious to learn more about both of them.

She could bring Safe Grabs into Bed Bath & Beyond, Target, and other major retailers, and she could make it simpler for those businesses to close the sales that occur from doing so, in accordance with Lori’s assessment. As a means of making atonement for the value that Lori had brought to Safe Grabs, the company agreed to offer her a thirty-percent ownership stake in the business.

In order to get the best deal possible, Cyndi made a counteroffer that included a 17 percent stake in the company. Lori confirmed her dedication to the Safe Grabs stores, and she also agreed to reduce the percentage of shares she is offering to 25%. The “Queen of QVC” refused to budge from her first demand of 25 percent and accepted Cyndi’s final offer of 20 percent. Cyndi was in agreement with the terms of the deal.

Safe Grabs Net Worth
Safe Grabs Net Worth

The price of the 10-inch model was $12.85, despite the fact that the cost to the manufacturer was only $2.75. Aside from Amazon and a handful of smaller retail outlets, Safe Grabs has not yet reached an arrangement with any of the major retail chains.

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Spread the loveSafe Grabs Net Worth ^ Cyndi Lee, a resident of Houston, Texas, came up with the idea for SafeGrabs when she was a child and realized that she was too sluggish to use a towel when removing hot plates from the microwave. When you are cooking, you can put your SafeGrabs to use…

Spread the love

Spread the loveSafe Grabs Net Worth ^ Cyndi Lee, a resident of Houston, Texas, came up with the idea for SafeGrabs when she was a child and realized that she was too sluggish to use a towel when removing hot plates from the microwave. When you are cooking, you can put your SafeGrabs to use…