Finding convenient and multifunctional cooking products is the need of the hour. Handy Pan is a brand that is product, which can enhance your versatility in the kitchen and make the overall experience fun.
For those who haven’t seen the brand on Shark Tank, Handy Pan is a cooking utensil, more specifically a non-stick pan that comes with a built-in strainer. Founded by Adam Chaudry and Josh Conway, the product gained pretty great popularity.
Although optimum figures aren’t known, it is believed that Handy Pan is currently worth $250,000.
Contents
| Business details: | Multifunctional Cooking Products |
| Founders name: | Adam Chaudry, and Josh Conway |
| Founded in: | 2019 |
| Location (Country): | Ohio, U.S |
| Investment Asked by Company | $10K for 20% Equity |
| Sharks on board (Investors) | Lori Greiner |
| Accepted Deals: | $10K for 20% Equity |
| Shark Tank Episode: | Season 13 Episode 21 |
| Net Worth | $250,000 |
| Business Status: | Active |
| Social Media | Facebook |
| Last Updated: | June 06, 2024 |
Handy Pan has been founded by two best friends, Adam Chaudry, and Josh Conway, from Ohio, U.S. Although there isn’t much information about Josh’s education, reports suggest that Adam completed his education at the Ohio State University.
Following completion of their education, in 2015, Josh went on to become a partner at Chaudway Enterprises. There, they collectively worked towards building and developing both physical and digital products. Josh previously worked as a general manager in a tech firm.
Surprisingly, the idea of Handy Pan came to Josh and Adam out of the blue when they were playing around with napkins. Once they pretty much conceptualized their idea, the next step was to execute the plan they had in mind.
Following that, the duo started a Kickstarter campaign with hopes to generate a good investment but unfortunately, the campaign failed. Later, the duo collaborated with Priority Designs to bring their vision to life. Once the plan was in place, they were ready to launch their product in 2019.
Despite having a great idea and a great product, the founders didn’t know how to promote and market their product. They ended up spending $550 in advertising while only generating $7900 in revenue.
Seeing how Josh and Adam struggled with their marketing, they decided to join Shark Tank with the hopes to get some help from one of the sharks.
The company asked for $10,000 for 20% equity, which was surprisingly a pretty low sum. To this, Robert Herjavec asked the founders why their pitch was so low. To that, they responded that their intention on the show wasn’t the money but to learn ways to market their product.
It was Lori Greiner who agreed to the pitch and invested the money that the founders initially asked for.
Following appearing on Shark Tank, the brand gained immense fame, leading to its entire inventory getting sold out right after the episode aired.
There isn’t much information about whether or not the deal with Lori Greiner went through or not. However, irrespective of that, Handy Pan is doing pretty great when it comes to its sales. The products are now available on their official website only.
There is news that Handy Pan is in the process of expanding and making their products available on Amazon too. Their sales have drastically improved, contributing to their growth significantly.
Since appearing on Shark Tank in season 13, it seems like Handy Pan has been doing well. These non-stick pans were made available on Amazon in February 2023, and since then they have been selling well. This suggests that the business is growing.
However, it is not clear if the founders followed the sharks’ advice to sell on Jeff Bezos’ online store because the pans listed on Amazon are sold by a third-party seller called SATGoldman. It’s possible that this seller took advantage of the company’s $50 off deal for buying 10 or more pans.
It also seems like the business owners didn’t spend more on advertising, because Handy Pan doesn’t have much of a presence on social media either. The brand’s last Facebook post was shared in December 2022.
Handy Pan has been in business ever since their appearance on Shark Tank. The company got a lot of exposure from their episode, which was reflected in the sales they made. They are booming in the market right now.
When they appeared on Shark Tank, Handy Pan made around $8000 in sales, which was one of the weakest points for the business.
With the steady rise in their sales and their branding across the U.S., Handy Pan currently has a net worth and valuation of $250,000, which is massive.
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