SwimZip Net Worth: What Happened to SwimZip After SharkTank?

After getting featured in Shark Tank SwimZip’s net worth became unstoppable. The product was first pitched in Season 5, Episode 15 which was aired on 24th January 2014. It is UV protection swimwear that is designed for youngsters. SwimZip’s net worth started with nothing.

Launching the business on this huge platform gained the business worldwide popularity. Today, SwimZip has become one of the best businesses that revolutionized the world and SwimZip’s net worth has grown massively.

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What Is SwimZip?

Founder Betsy John and Berry Wanless launched this UV protection apparel line after Betsy got diagnosed with skin cancer. So, SwimZip’s net worth and the entire development of the apparel line was her life’s work. She studied how hard it was for kids to take off their swim shirts and other swimwear.

Betsy had the idea of putting the zippers in the front. Thus, they introduced zippered shirt fronts, using materials that are chlorine-proof and all the items were available in fun, colorful as well as quirky designs. Her main motive with the business was to protect the children from getting skin cancer or any deadly disease.

When the duo initially launched the business, SwimZip’s net worth was not major as she was focusing on expanding the business.

The swimwear collection was available on Amazon apart from the company’s own website. Since Betsy was a skin cancer survivor, she had detailed knowledge about the harmful effects that prolonged exposure to hazardous ultraviolet radiation. Hence, her swimwear apparel offered full protection from early sunburns to skin cancer.

It was proven that SwimZip is 98% safe against dangerous rays, easy to wear and take off plus had a full-length zipper in the front. The children can dress and undress themselves without needing any extra help. These features were a catalyst to SwimZip’s net worth. 

SwimZip’s Pitch: Which Shark Got The Deal?

When pitching to contribute to SwimZip’s net worth and expand its business, Betty and Berry proposed a 5% stake in Swim Zip in return for a $60,000 investment. On asking about the stats, Betsy stated that her business had sold around $225,000 in goods which was a massive hike of 111000% from the business of $18,000 that they made the previous year. The entire sales came from several sources including the shops in the United States and even overseas.

To keep SwimZip’s net worth booming, they wholesale it at a price of $15 whereas the competitors’ do it for $45 to 60. After almost all the Sharks chose to go out of the deal, Lori Greiner could see herself in Betsy as she was also a “one-man-band”. 

Kevin O’Leary had doubts regarding the valuation, “I think of my money like gasoline fuel,” “I invest my money, and as a result, I make more money. Unfortunately, there isn’t much here that I can invest my money in. I’m getting out of here.”

Lori’s initial proposal was $60,000 for a 20% stake in the business. However, Betsy had a counter deal of $120,000 investment for a 20% stake. Lori didn’t accept the proposal and in spite of Berry’s initial reluctance, Betsy accepted the deal. So, it was Lori who was the main shark involved in SwimZip’s net worth and business.

SwimZip’s Net Worth: How Is The Business Doing?

SwimZip’s net worth is $5 million in 2022. The sales of the business have increased over 100% in just two days of getting featured in Shark Tank. Betsy is now on the Advisory Council of the Youth Entrepreneurs Kansas City Organisation.

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In August 2021, the firm made a $5 million profit. With the expansion of SwimZip’s net worth, their collection has also widened. Now, it includes men’s and women’s collections including hats. In the future, they are looking for more launches.

For more updates please visit leedaily.com

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