Picture this: you’re walking your dog late at night, and the narrow beam of your flashlight barely lights up the path ahead. Shadows lurk in the corners, and a misplaced step could lead to a stumble.
That’s where TripleLite comes in, a revolutionary flashlight designed with a 180-degree beam, ensuring your entire surroundings are brilliantly illuminated for maximum safety and confidence.
TripleLite isn’t just another flashlight, it’s a game-changing solution for anyone who needs clear, wide-ranging illumination.
The product was created by Ron and Nancy Pritchett after a close call on a dark staircase. That incident inspired them to design a flashlight with 180-degree visibility.
Their innovative approach landed them on Shark Tank, where their resilience and vision impressed the Sharks. TripleLite is ideal for everyone, from dog walkers to campers and homeowners.
The flashlight’s unique design is not only practical but has also been embraced by millions of users worldwide.
“We thought there would be a spike during the show and then it would slow down, but nobody said there would be a spike like this.”
Ron Pritchett
said Ron as orders poured in after their episode aired. With its growing popularity, TripleLite is transforming how people think about flashlights.
TripleLite The Journey Before Shark Tank
TripleLite was born out of necessity in 2012. Ron, a professional golfer, was descending his backyard stairs one night when he nearly tripped due to the limited beam of his flashlight. Frustrated, he envisioned a flashlight that could illuminate a much wider area.
Determined to find a solution, he teamed up with his wife Nancy, and together, they created the TripleLite flashlight. It features three LED bulbs that emit a 180-degree beam, offering unparalleled visibility.
Starting the business wasn’t easy. In 2016, the Pritchetts brought in an investor for financial backing. However, the partnership turned sour, leading to a legal battle. “They sued us for control of our company, but we fought back,” Ron recalled.
By August 2018, they regained full ownership. Lori Greiner, during their pitch, commented, “It’s extremely sad that people can be wolves.” Despite these challenges, their hard work paid off. By 2020, the company had achieved over $4 million in sales.
This included $1,077,000 the year before and a projected $1.5 million in the current year. Nancy proudly shared that their early sales started at $100,000 in 2014.
This grew to $310,000 in 2015, showcasing steady growth. Their patented technology is now protected across 27 countries, ensuring their design remains unique.
Shark Tank Pitch Recap
Ron and Nancy’s Shark Tank pitch was as innovative as their product. They dimmed the studio lights to demonstrate how TripleLite’s wide beam lit up the entire room. This contrasted sharply with traditional flashlights, capturing the Sharks’ attention.
The Pritchetts asked for $400,000 in exchange for 10% equity, presenting the following key details:
- Manufacturing Cost: $6.50
- Wholesale Price: $15
- Retail Price: $29.95
The Sharks were impressed by the flashlight’s ability to project light up to 160 feet. This made it suitable for a variety of uses.
Kevin O’Leary praised their presentation but demanded 49% equity for his $400,000 offer. The Pritchetts rejected the offer outright.
Daniel Lubetzky proposed $400,000 for 25% equity, emphasizing his ability to scale the product internationally. Mark Cuban and Lori Greiner then made a similar offer.
They highlighted their strong retail connections. “It’s impressive that you’ve overcome such significant challenges,” Lori said, showing admiration for their perseverance.
Ron and Nancy countered by asking if anyone would lower their equity share to 20%. Daniel agreed but suggested teaming up with Robert Herjavec.
However, the Pritchetts ultimately accepted Lori and Mark’s $400,000 for 25% equity. They trusted their expertise in retail and licensing to help TripleLite grow.
TripleLite Shark Tank Update
TripleLite experienced a massive sales boost immediately after their Shark Tank episode aired. They received over 3,000 orders in just a few hours.
“I just can’t believe the orders are coming in at that amount per minute,” Ron exclaimed.
The partnership with Lori and Mark opened doors to major retailers like Home Depot, Walmart, and ACE Hardware. This expanded their reach significantly.
The company also grew its product line to include the TL1000 Aluminum Rechargeable flashlight, the HL530 LED Headlamp, and the TL050 Keychain light. These additions catered to different customer needs while staying true to their mission of wide illumination.
The Pritchetts’ patents continue to protect their unique designs, securing their place in the market.
Future Plans
With Lori and Mark’s guidance, TripleLite is poised for even greater success. Their plans include:
- Partnering with more retailers and online platforms to expand their global footprint.
- Exploring licensing agreements to increase revenue.
- Introducing eco-friendly flashlights to attract environmentally conscious customers.
Mark Cuban believes in their potential, saying, “With the right strategy, TripleLite can dominate the global flashlight market.”
Closing Thoughts
The Pritchetts’ journey with TripleLite is a story of perseverance and innovation. An idea sparked by a dark staircase grew into a Shark Tank deal and millions in sales. Their flashlight is now a household name.
“Now they’ll help us take it around the world, and that’s what we wanted,” Nancy shared with excitement. With a solid foundation and a promising future, TripleLite is ready to illuminate paths for years to come. Stay tuned for what’s next!
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on TripleLite!
Feature Image Credit: @abc/@christopherwillard