Garage Door Supplier on Shark Tank

A reputable garage door supplier offers products from the best manufacturers and experts in the industry. However, once in a while a product breaks the mold, and the most innovative are featured on the popular television show Shark Tank.

garage-door-supplier

Inventor Bryan came up with the lock after a burglar broke into his garage. He discovered that the remote controls that shut garage doors aren’t always enough to keep homes secure — especially when a lot of homeowners leave those remotes visible and accessible in cars parked in driveways.

Bryan had sold a few products before coming on the show, but it was getting a shark’s backing that really drove up sales.

Money Matters with this Garage Door Supplier

Initially, Bryan asked for $275,000 for 30 percent of his company. Banking on break-in statistics, and the fact that most homeowners don’t lock their garage doors (they simply close them), he knew how to negotiate with sharks.

This garage door lock features a steel deadbolt that auto-locks. Shark Kevin pointed out that most homeowners probably assume their garage is locked when the doors close, but that isn’t the case; remote controls don’t lock garage doors.

Just like you can unlock a car door different ways, such as with a coat hanger, savvy burglars know how to get garage doors open. Bryan markets his lock as an accessory to high-quality garage doors, and an affordable add-on option. It retails for $249.95.

The Marketing Miss

Even though the sharks were impressed with the lock, all except Daymond bowed out because of concern over Bryan’s lack of entrepreneurial acumen. Daymond offered $275,000 for 40 percent of the company, which brought shark Robert back in with an offer of $275,000 for 70 percent. Robert knows one of the biggest manufacturers of car covers in the world. Ultimately, Bryan reached an agreement with Daymond for $275,000 for 35 percent.

There has been little movement on sales of the garage door lock since the show aired. This might suggest that the deal fell through, or that the quality of the lock was questionable. It might be a suitable accessory for some homeowners, but having a high-quality, well-maintained garage door (and following best practices to keep doors closed and remotes hidden) is the best way to keep any home secure.

Garage doors are indeed the biggest door in any home, and many homeowners use them exclusively as entry doors. However, just like any door, if it’s not maintained, closed and locked it can become a temptation for burglars. Make sure your garage doors are functioning — contact the Garage Door Man.