“Handy Pan” got featured on Shark Tank USA in 2021 November. It was founded by Josh Conway and Adam Chaudry.
Handy Pan Net Worth in 2022
Here is an update on Handy Pan’s net worth so far.
|Handy Pan’s Net worth before appearing on Shark Tank||50,000 USD (business valuation)|
|Handy Pan’s Current Net worth (2022)||$250K *estimated|
Handy Pan’s founders Josh Conway and Adam Chaudry have a net worth of 10,000 USD as of 2022.
The Handy Pan is a specially introduced pan that can perform all the duties a typical pan does more effectively. Cleaning up unwanted stains off the Pan quickly, handling with too much care, and spreading the heat faster are the ultimate benefits of this equipment.
The founders of the Handy Pan have added a few more features, such as a comfortable handle, a filter, a durable white ceramic layer, and an anti-scalding heat button.
The minor modifications have made the Pan a revolutionized product, and users enjoy cooking more food on the handy Pan.
Who is the owner of Handy Pan?
Josh Conway and Adam Chaudhry are the founders of Handy Pan. Josh is a realtor and the GM of a company based on strategic technology inventions.
When it comes to Adam is a graduate of Business administration and a doctorate holder in Law. Currently, he owns the Chaudry Law, LLC Firm while finding the path for their ultimate tool for kitchen messes. The guys had been friends since childhood and had tried several inventions.
The handy Pan was the only successful project the founders had. The friends took part in Shark tank Season 13, Episode 21, which aired on May 2, 2022.
What happened at the Shark Tank?
They had asked for just $10,000 for 20% of the business. The pair had gotten less than $10,000 from the sales then and wanted to extend their business into a retail status.
While other sharks were inspecting the equipment, Robert wanted to know why Josh and Adam wanted a small amount.
Barbara was curious about why the product made just a small revenue, as small as $7900. Josh said that they had sold a small number of products.
Also, Josh mentioned that they had gone after online selling, which did not work. In the end, Lori Greiner agreed to give what the pair had asked, $20,000 for 20% of equity.
Handy Pan SHARK TANK UPDATE
It passed less than three months before the founders of the company, Josh, and Adam, appeared on Shark Tank. After the Handy Pan episode aired on television, they quickly sold out their products.
What happened to Handy Pan After the Shark Tank
Josh and Adam got the start of what they sought. They could expand their business and surpass the margins they wished to break. The $10,000 profit is one of them. The price has been set per Handy Pan at $39.99 on their website.
But the customers can purchase it at $29.99 with a discount. Also, the company had issued coupons for Handy Pan products which were 15% off the actual price.
When looking at the approach Josh and Adam took after the Shark tank, and it is clear they have found the path. The company is creating the products in large quantities and sending it to all parts of the country.
However, the social media (Facebook, Twitter ) approach and the digital approach through the website have not improved yet.
Also read: What happened to the Banana Loca after the shark.
Competitors off Handy Pan
The company’s competitors are Zwilling Madura Plus Nonstick Skillet, All-Clad D3 Stainless-Steel Fry Pan, and Cuisinart Chef’s Classic Nonstick Skillet are crucial.
But they all offer higher prices for the buyers. Along with the features and the best price, the Handy Pan has been a frequent choice for buyers.