Handy Pan Bags $10K Deal with Lori Greiner, ‘Shark Tank’ Fans Love the Strainer Pan Idea

It’s pretty safe to say that Lori Greiner has an eye for discovering some really successful businesses on ‘Shark Tank’. Considering the success she enjoyed from closing deals with common household item pitches such as Scrub Daddy and Squatty Potty, it shouldn’t come as a surprise that the Queen of QVC has a real knack for selling innovative household items.

 

So, when Handy Pan founders Josh Conway and Adam Chaudry stepped into the tank to pitch for their one-of-a-kind frying pan that comes with a built-in strainer, Lori’s ears immediately perked up. As if history was repeating itself, the other Sharks laughed at the pitch and questioned if there was even a need for such a product, just the way they did with Scrub Daddy’s pitch. But Lori quietly observed the demonstration and was impressed by it. When the Sharks began discussing numbers, she was surprised to learn that they made only about $7000 in sales, which explained why they came in seeking an investment of measly $10,000 in exchange for a 20% equity stake in their brand.

 

As the other Sharks continued to mock the Handy Pan founders and grill them about their low sales margins, Lori snubbed them all by simply declaring that she would give them the money and immediately closed the deal. Fans were impressed watching how quickly Lori closed the deal with Handy Pan without any negotiations or getting into a complicated bidding war with her Sharks. Lori explained her decision to invest in the business by pointing out how she had nothing to lose from making the deal, considering the low investment amount.

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A fan tweeted, “#sharktank @LoriGreiner I love Lori how can you go wrong with these pans!! it’s so cheap of an investment it looks like a great product!!” “[email protected] made the perfect offer, she’s 100% right- she has nothing to lose with that validation. #SharkTank,” wrote a fan. Another fan added, “I love Lori’s attitude — it’s the power of being rich with money to spend #sharktank.” “If @LoriGreiner likes the product, that is a great sign! And they have patents! That is worth the company valuation right there! #SharkTank #HandyPan,” observed a fan.