Ride FRSH, a Los Angeles-based company specializing in car air fresheners, has made waves since its appearance on the popular show, Shark Tank. Known for its innovative and modern approach to automobile air fresheners, Ride FRSH has grown significantly after striking a notable deal with the sharks.
During their pitch on Shark Tank, the founders showcased their unique car air freshener subscription business, impressing most sharks with their projected annual revenue and appealing product design. The company secured a deal with Barbara Corcoran, who invested $200,000 for a 20% equity in the business.
This update on Ride FRSH highlights the company’s journey since its Shark Tank appearance and the impact of the investment on its growth and success. The focus remains on providing high-quality air fresheners to car owners who value innovation and style in their everyday products.
Background of Ride FRSH
Ride FRSH is a car air freshener company that not only keeps vehicles smelling fresh but also adds a touch of style. The founders of this innovative business are four black entrepreneurs, Donovan Brown, Garrick Mitchell, Trey Brown, and Dean Parker. They joined forces to create a modern automobile air freshener with a strong, long-lasting scent.
This team of talented individuals shared a background in marketing, design, and product development, which enabled them to reinvent car air fresheners. The company offers a subscription service to customers, providing new air fresheners every month. This ensures vehicles maintain a pleasant scent while also allowing users to try out various fragrances.
Ride FRSH caught the public’s eye when it featured on Season 14, Episode 07 of the popular television show Shark Tank, which aired on November 14, 2022. During their appearance, the founders impressed most of the Sharks with their unique business model and determination. Based in Los Angeles, California, this brand continues to capture a large market share, boosting its reputation as a contemporary air freshener manufacturer.
Donovan and Trey, among the founding members, have a connection to Howard University, where they honed their entrepreneurial skills. This prestigious institution laid a solid foundation for these co-founders, equipping them with the necessary tools and resources to build Ride FRSH into a successful company.
Overall, the Ride FRSH journey has been an exciting one, with the founders combining their distinct talents and leveraging their appearances on Shark Tank to grow and make a significant impact in the automobile air freshener market.
The Pitch
On November 18th, during Season 14 of Shark Tank, the founders of Ride FRSH, Donovan Brown and Trey Brown, presented their pitch to the panel of Sharks. The product they’ve developed is a car air freshener designed to keep cars smelling fresh with a strong and long-lasting scent.
In their friendly and engaging presentation, Donovan and Trey showcased their unique air fresheners and described how they aimed to set themselves apart from other car air fresheners in the market. They emphasized that their product not only offers a powerful scent, but also a subscription service model that keeps customers engaged and satisfied.
As part of their pitch, the founders requested an investment of $200,000 in exchange for 5% equity in their company. This would help them further expand their business and promote their air fresheners to a wider audience.
Throughout the pitch, the Sharks were shown to be curious and interested in Ride FRSH’s product and the subscription-based business model. However, they also raised concerns and questions about the product and its market positioning. The founders confidently addressed these concerns, providing details about their plans for growth and market penetration.
In response to questions about the company’s name, Donovan and Trey explained that their choice for the name Ride FRSH reflected their goal to provide customers with a fresh-smelling ride while keeping it modern and appealing to their target audience. The name and branding aimed to make a memorable impact on prospective customers and differentiate their product from competitors.
Investment Details
Ride FRSH, a car air freshener business founded by Donovan Brown, Garrett Mitchell, Trey Brown, and Dean Parker, appeared on the ABC show Shark Tank to seek investment. Their product is known for having a strong smell and keeping cars fresh for an extended time.
During their pitch, the founders requested $200,000 in exchange for an equity stake in their company, valuing it at $4 million. Despite their impressive 2021 revenue of $540,000, some of the Sharks, like Kevin O’Leary and Mark Cuban, were skeptical about the valuation.
Mark Cuban ultimately decided to pass on investing in Ride FRSH, citing concerns about their marketing efforts, while other Sharks like Lori Greiner and Robert Herjavec also dropped out of the negotiation for various reasons. The last remaining Shark, Barbara Corcoran, was not willing to meet the founders’ requested investment terms either, leading the team to leave the show without a deal.
Though they didn’t secure the investment they sought on Shark Tank, Ride FRSH continues to grow and offer their unique car air fresheners. Their catalog includes a variety of scents and designs, such as fun phrases, basketball logos, and even SpongeBob SquarePants characters. Customers can purchase the products in bundles, with or without a subscription, and the company maintains a 30-day return policy, making it a user-friendly experience for everyone.
Partnerships and Collaborations
Ride FRSH, the car air freshener company, has been making waves since their appearance on Shark Tank. One notable area where the company progresses further is through their many partnerships and collaborations. This not only shows their willingness to expand their market reach but also indicates their potential for growth.
One exciting collaboration is Ride FRSH’s licensing deal with Viacom. This partnership allows them to create car air fresheners featuring beloved characters from popular shows like SpongeBob SquarePants. This collaboration not only appeals to fans of the show but also attracts a larger customer base with its unique designs.
Additionally, Ride FRSH has been working closely with top sports organizations. The company has established partnerships with different NBA teams such as the Golden State Warriors and the Mavericks. These sports-themed car fresheners give fans an opportunity to display their loyalty to their favorite teams while also enjoying a fresh-smelling car.
With a keen eye on expanding their reach, Ride FRSH is also exploring collaborations within the city of Los Angeles. Being an LA-based company, they are uniquely positioned to tap into the thriving sports, entertainment, and lifestyle markets. These collaborations present numerous opportunities for growth and increased visibility.
With these strategic partnerships and collaborations in place, Ride FRSH is continuously working towards enhancing its product offerings and strengthening its market presence. The company’s friendly approach to business and creative collaborations contributes significantly to its overall success.
The Subscription Model
Ride FRSH is a Los Angeles-based company that manufactures modern automobile air fresheners. They caught the attention of many when they presented their subscription-based business on Shark Tank. The company’s unique approach to the market has led to impressive results, with over $1.1 million in revenue within three years of launching.
The subscription service offers a convenient solution for car owners, providing them with a fresh new air freshener every month when the old one starts to fade. The concept is not only practical but also provides an opportunity for customers to try out various scents and designs. Ride FRSH’s air fresheners come in a range of fun and understated styles, such as basketball logos, SpongeBob SquarePants characters, and catchy phrases.
The subscription model charges customers $5 every month, delivering two cents worth of air fresheners. For those who prefer to customize their air fresheners, the monthly cost is slightly higher at $7.25. Additionally, the company offers bundle deals with no need for a subscription and has a 30-day return policy in place, ensuring customer satisfaction.
In summary, Ride FRSH’s subscription-based model has proven to be a successful approach to the car air freshener market. By offering convenience, variety and quality, they’ve managed to stand out in a competitive industry and establish a loyal following.
Sales and Revenue
Ride FRSH, a Los Angeles-based car air freshener company, has witnessed significant growth since their appearance on Shark Tank in November 2022. The company was founded by Donovan Brown and Trey Brown in 2018, and they have made a name for themselves in the car air freshener market, which was worth $897.1 million in the US alone in 2020. The industry’s total value is expected to reach $3.56 billion by 2029.
At the time of filming Shark Tank, Ride FRSH was on track to generate more than $750,000 in annual revenue. Their innovative approach to providing a new air freshener every month, unique design options, and convenient bundles without a subscription have contributed to their success. They offer a 30-day return policy, adding another layer of consumer confidence in their product.
After the Shark Tank episode aired, Ride FRSH experienced tremendous growth, securing additional funding and partnerships. Their estimated net worth has since risen to $1 million USD in 2023, with expectations to keep increasing as they expand their market reach.
They have also garnered attention from larger retailers, such as AutoZone, which has positively impacted their sales. Aiming to cater to various tastes, Ride FRSH offers designs featuring fun phrases, basketball logos, and even SpongeBob SquarePants characters. This diversified product offering has helped boost the brand’s appeal, increasing sales and revenue.
To sum it up, Ride FRSH has made significant strides in sales and revenue since their Shark Tank appearance. With a growing market and a strong fan base, they continue to expand while maintaining a friendly and approachable brand image.
Marketing Strategy
Ride FRSH, a Los Angeles-based car air freshener company, has a unique marketing strategy that has helped them grow their brand and reach their audience. Through various marketing moves, they have been able to establish a strong brand presence and develop a loyal customer base.
One significant aspect of their marketing strategy is their collaboration with Longtail Agency, a marketing firm that specializes in brand development, digital advertising, and social media management. Partnering with Longtail Agency has allowed Ride FRSH to leverage their expertise in the industry and develop targeted marketing campaigns that resonate with their target audience.
Another important marketing move for Ride FRSH has been their focus on social media advertising. Initially, the company heavily relied on Facebook Ads to reach their audience and drive sales. However, this approach proved to be pricey and unsustainable in the long run. With the help of their Shark Tank appearance and collaboration with Longtail Agency, Ride FRSH has been able to reduce their reliance on Facebook Ads and diversify their marketing channels.
Instead of solely relying on Facebook Ads, Ride FRSH has now incorporated various marketing methods such as content marketing, influencer partnerships, and targeted email campaigns. This multi-channel approach has not only helped them gain broader customer reach but also fostered deeper customer connections and improved customer lifetime value (LTV).
In conclusion, Ride FRSH’s marketing strategy has played a crucial role in propelling the company forward and expanding their customer base. By adopting a diverse marketing approach in collaboration with Longtail Agency, they have been able to create a powerful brand that stands out in the competitive car air freshener market.
Design and Packaging
Ride FRSH is a company that manufactures modern automobile air fresheners with an updated and stylish approach to their design. The air freshener’s scent is strong and enhancing, aiming to improve the overall drive experience for riders. The design stands out due to its simplicity and ingenuity, making it a desirable addition to any vehicle.
The packaging of Ride FRSH air fresheners is in line with the company’s focus on providing a neat, understated look. Each air freshener is adorned with a unique touch representing different themes, such as a fun phrase, a basketball logo, or a SpongeBob SquarePants character. This adds a layer of personality to each product, allowing users to express their own style through their choice of air fresheners.
When it comes to convenience and innovation, Ride FRSH delivers by offering a fresh air freshener every month with their subscription model. This ensures that users always have a new scent to enjoy and can explore various fragrances over time. For those who prefer a one-time purchase, bundles can be bought without any subscription commitments. Furthermore, the company upholds a 30-day return policy, showcasing its confidence in the product quality and satisfaction.
In summary, Ride FRSH’s design and packaging successfully combine style and practicality, offering an innovative solution for automobile air fresheners. The diverse range of themes coupled with the user-friendly subscription model helps set their products apart in the market.
Company Growth and Success
Ride FRSH, a Los Angeles-based car air freshener company, has experienced significant growth since its appearance on Shark Tank. Co-founders Donovan Brown and Trey Brown successfully secured a deal with Barbara Corcoran, accepting her counter offer of $200,000 for a 20% equity, resulting in a $1 million valuation for their business.
The innovative approach of Ride FRSH, which focuses on providing fresh scents for car rides, has captured the interest of both consumers and investors. The company has made remarkable progress, with its annual revenue surpassing $750,000 at the time of filming. This success demonstrates their ability to stay competitive in a market that was worth $897.1 million in the US alone in 2020.
Ride FRSH’s creative marketing strategies and high-quality air freshener products have set them apart from their competition. By staying on top of trends and continuously innovating, they have been able to expand their reach and attract a loyal customer base. Their dedication to providing a fresh and pleasant experience for car rides has resonated well with both ride-sharing drivers and everyday commuters.
The company’s success can also be attributed to their strong and efficient team. Donovan Brown, with his background in marketing, finance, hospitality, and management, has effectively led Ride FRSH’s marketing efforts, contributing to its growth and visibility in the market. As the company continues to expand, they have been able to establish a thriving office environment that promotes innovation and collaboration.
In conclusion, Ride FRSH has demonstrated how a unique idea, paired with effective marketing and a dedicated team, can result in impressive growth and success within a competitive industry. With their continued dedication to innovation, they seem to be well on their way to transforming the car air freshener market for the better.
Shark Tank Episode Details
The friendly duo of Donovan Brown and Trey Brown, known as the blood brothers, appeared on the well-known business show Shark Tank in Season 14, Episode 7 that aired on November 14, 2022. The brothers were contestants on the hit show and presented their innovative company, Ride FRSH, to a panel of investors. Ride FRSH is a subscription service company that provides their clients with fresh scents by exclusively manufacturing car air fresheners.
During their Shark Tank appearance, the blood brothers confidently pitched their business and requested a substantial investment of $200,000 for a 5% equity stake in their company, valuing it at a whopping $4 million. They believed their product to be a game-changer in the car air freshener industry and were eager to share their passion with the sharks.
To celebrate their appearance on the show, the Ride FRSH team hosted a special watch party, inviting friends, family, and supporters to gather and share in their exciting moment. These committed entrepreneurs sought to create a memorable atmosphere for everyone involved and provide an opportunity for the audience to be part of their journey.
Throughout the episode, the sharks had the opportunity to ask questions, provide feedback, and consider partnering with the brothers to help grow their innovative business. While some sharks might have been hesitant about certain aspects of the business, the blood brothers kept their spirits up and did their best to address the investor’s concerns, staying true to their friendly nature.
In the end, the Shark Tank experience helped to bring wider exposure to the Ride FRSH brand and the unique service it offers to car owners looking to keep their vehicles smelling fresh and pleasant. The Brown brothers were determined to make their venture a success, with or without the support of the sharks, and their ambition and drive surely served as an inspiration to many viewers.
