Colin Snow
Clean Sleep, a mobile mattress cleaning service, appeared on Shark Tank Season 7. Founder Michael Ingle entered the tank seeking $1.5 million for 15% equity in his business. He explained that mattresses collect dirt, allergens, and bacteria, yet most people never clean them. Despite an impressive pitch, Ingle left without making a deal with any of the sharks, who cited concerns about scalability and revenue. However, Clean Sleep secured key partnerships and diversified its services to include furniture, PPE, and DIY mattress cleaning kits. The company also pursued franchising and adapted during the pandemic by offering specialized sanitation services.
| Characteristics | Values |
|---|---|
| Founder | Michael Ingle |
| Shark Tank Season | 7 |
| Investment Sought | $1.5 million |
| Equity Offered | 15% |
| Business Type | Mattress cleaning franchise |
| Deal Made | No |
| Post-Shark Tank Update | Secured partnerships with hotels, hospitals, and residential clients; expanded services to include furniture, pillows, PPE, and DIY mattress cleaning kits; explored franchising; offered specialized sanitation services during the pandemic |
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What You'll Learn
Clean Sleep's pitch for $1.5 million
Michael Ingle entered the Shark Tank seeking $1.5 million for a 15% equity share in his mobile mattress cleaning business, Clean Sleep. He began his pitch by pointing out that mattresses collect dirt, allergens, and bacteria, yet most people never clean them. To address this issue, Clean Sleep offers an on-site deep cleaning service using a custom-built truck. The process is quick and chemical-free, effectively eliminating bed bugs, dust mites, and odours.
Michael explained his plan to lease the machines to hospitals, military bases, and high-volume hotels. When asked why he hadn't already done so, he replied that he had just passed the proof of concept stage and was in negotiations. He needed the $1.5 million to build more machines for a hospital pilot.
Michael believed that Clean Sleep would change the way people sleep, but some sharks questioned the market demand, citing small sales figures. While Barbara claimed to be impressed by Michael's pitch, Kevin suggested that a loan would be better than giving up equity, allowing Michael to retain ownership while gaining financing. However, Michael remained firm, stating that he needed partners who could provide more than just financial support.
Ultimately, none of the sharks agreed to a deal, expressing concerns about scalability and revenue. Despite this setback, Michael left with positive encouragement from the sharks, who acknowledged the potential of his business idea.
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No deal with the sharks
Clean Sleep, a mobile mattress cleaning service, appeared on Shark Tank Season 7. The founder, Michael, entered the tank seeking $1.5 million for 15% equity in his business. He explained that mattresses collect dirt, allergens, and bacteria, yet most people never clean them. Clean Sleep offered on-site deep cleaning using a custom-built truck, providing a quick, chemical-free process that eliminates bed bugs, dust mites, and odors.
Despite an impressive pitch, Michael left the show without securing a deal with any of the sharks. The sharks cited concerns about scalability and revenue. Kevin O'Leary, one of the sharks, suggested that a loan would be a better option than giving up equity, allowing Michael to retain full ownership of his company. However, Michael remained firm in his desire for partners who could provide more than just financing.
Even without a deal, Michael remained committed to his business. Clean Sleep secured key partnerships and diversified its services to include furniture, pillows, personal protective equipment (PPE), and DIY mattress cleaning kits. They pursued franchising opportunities and adapted during the pandemic by offering specialized sanitation services. Michael's persistence and adaptability helped Clean Sleep grow and expand its reach.
While the exact figures of Clean Sleep's growth post-Shark Tank are not readily available, the company's ability to secure partnerships and diversify its offerings indicates a positive trajectory. The exposure from Shark Tank likely played a role in raising awareness for Clean Sleep and attracting potential customers and partners.
Clean Sleep's appearance on Shark Tank highlights the challenges and opportunities faced by entrepreneurs seeking investment. While the show's format can provide a platform for businesses to gain traction, it also underscores the importance of addressing scalability and revenue concerns. Michael's experience demonstrates that even without securing a deal, it is possible to leverage the exposure and feedback gained from the show to continue building and expanding a business.
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Concerns about scalability and revenue
Despite an impressive pitch, none of the sharks on Shark Tank agreed to a deal with Clean Sleep, citing concerns about scalability and revenue. Michael, the founder of Clean Sleep, entered the tank during Season 7, seeking $1.5 million for 15% equity in his mobile mattress cleaning business.
Michael explained that mattresses collect dirt, allergens, and bacteria, yet most people never clean them. To address this issue, Clean Sleep offered on-site deep cleaning using a custom-built truck, providing a quick, chemical-free process that eliminated bed bugs, dust mites, and odors. However, the sharks questioned the scalability of the business, as Michael had only recently passed the proof-of-concept stage and was still negotiating strategic partnerships. They also raised concerns about the small sales figures, suggesting that the market might not need a product like this.
Michael defended his valuation by stating that he needed partners who could provide more than just financing. He wanted to use the $1.5 million investment to build more machines and conduct a pilot in a hospital. However, the sharks felt that a loan might be a better option for Michael, as it would allow him to grow the business without sacrificing ownership. While they acknowledged the potential of Clean Sleep, they believed that Michael had come to the tank too early and that the business needed more time to develop.
Despite leaving the tank without a deal, Michael remained committed to his vision for Clean Sleep. The company secured key partnerships and diversified its services to include furniture, personal protective equipment (PPE), and DIY mattress cleaning kits. They also pursued franchising opportunities and adapted during the pandemic by offering specialized sanitation services. Clean Sleep's ability to secure partnerships and expand its services demonstrates its potential for scalability and revenue generation, addressing the initial concerns raised by the sharks.
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Clean Sleep's post-show success
Clean Sleep's pitch on Shark Tank did not land a deal with the sharks, who cited concerns about scalability and revenue. However, the company went on to secure key partnerships and diversify its services. They expanded their offerings to include furniture, pillows, personal protective equipment (PPE), and DIY mattress cleaning kits. Clean Sleep also pursued franchising opportunities, with initial investments ranging from $291,000 to $336,000, and had four units as of 2018.
Clean Sleep's ability to adapt to the pandemic with specialized sanitation services, including mask cleaning, is notable. This adaptability, along with their pursuit of strategic partnerships and key business relationships, contributed to their success.
Clean Sleep's founder, Michael, envisioned expanding his mattress cleaning franchise across the United States. He sought a $1.5 million investment for a 15% equity share in the company. While the sharks acknowledged the potential of Clean Sleep, they felt that Michael had come to the show too early and suggested a loan instead of equity investment.
Despite not securing a deal on Shark Tank, Michael remained committed to his vision for Clean Sleep. He took the sharks' advice to heart and worked on expanding the company's reach and services. Clean Sleep's ability to adapt and diversify its offerings contributed to its success and growth.
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Expansion of services and franchising
Clean Sleep, a mobile mattress cleaning service, appeared on Shark Tank Season 7, seeking $1.5 million for 15% equity in the company. Despite an impressive pitch, none of the sharks agreed to a deal, citing concerns about scalability and revenue.
However, this setback did not stop Clean Sleep from expanding and pursuing new opportunities. The company secured key partnerships with hotels, hospitals, and residential clients, allowing them to diversify their services beyond mattress cleaning. They began offering furniture, pillow, and personal protective equipment (PPE) cleaning services, as well as DIY mattress cleaning kits.
Clean Sleep also explored franchising opportunities, with initial investments ranging from $291,000 to $336,000, and had established four franchise units by 2018. This expansion demonstrated the company's ability to adapt and grow, even without the investment from the sharks.
During the pandemic, Clean Sleep once again showed its resilience by offering specialized sanitation services, including mask cleaning. This adaptability allowed them to continue serving their clients and maintain their business during challenging times.
The company's expansion into new services and franchising opportunities contributed to their success and growth, even after their appearance on Shark Tank. Clean Sleep's ability to diversify and adapt to market demands positioned them well for continued expansion and success in the cleaning industry.
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Frequently asked questions
Michael sought $1.5 million for 15% equity in his mobile mattress cleaning business.
No, none of the sharks agreed to a deal, citing concerns about scalability and revenue.
Despite not securing a deal, Clean Sleep secured key partnerships and diversified its services to include furniture, PPE, and DIY mattress cleaning kits. They also pursued franchising and adapted during the pandemic by offering specialized sanitation services.
While the sharks did not make a deal, they wished Michael the best and encouraged him to keep going as he had a great product. Lori commended him on all he had achieved and urged him not to give up.
Clean Sleep aimed to make money by leasing its mattress-cleaning machines to hospitals, military bases, and high-volume hotels.
