Bambooee was founded with a simple mission: create a waste-free alternative to disposable paper towels. This small business idea led them to an appearance on Shark Tank and made a deal with Lori Greiner, netting over $15 million in retail sales since the episode aired—and in today’s interview, we’ll find out how they did it.
Bambooee founders Noam and Irene had the first of their business ideas in 2009, when they came up with the reusable paper towels they showcased on Shark Tank. They’ve built on the popularity of paper towels, adding pet drying towels and pillows to their product line-up. Along the way, they’ve planted more than 200,000 trees, living up to their mission of giving back to the planet.
Today, we’ll get Irene and Noam’s advice for identifying profitable business ideas. We’ll find out their process for developing Bambooee towels and how much time and money they invested before making their first sale.
Of course, coming up with a great product is just the first step. We’ll learn how Bambooee built their brand and following, how they secured a spot on Shark Tank, and how that experience fueled their impressive growth. Fans of the show will especially want to hear Noam and Irene’s behind-the-scenes take on how they prepared for the show and what it’s like working with Lori.
Bambooee was built on sustainability and innovation, and they haven’t lost that spirit since they’ve found success. We’ll see how these core values affect their sales and day-to-day operations today, and how they plan to meet their goal of planting 1 million trees. If you want to learn more about Bambooee, make sure to check them out online at https://bambooee.com/.
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Reinvented the Wheel and Built a $1M Company (Shark Tank Success Story) ► https://www.youtube.com/watch?v=ECabiC5TV64
1:05 Meeting Noam and Bambooee’s Background
2:29 Initial Budget
3:34 Why Is Bambooee Different?
5:20 Trademarks and Patents
7:18 Profit Margins
10:23 Shark Tank Experience and Impact
12:17 Validating Business Ideas
13:37 How Innovators Can Turn An Idea Into A Business
15:34 Working With Lori From Shark Tank
16:41 Sales Breakdown and Sales Platforms
19:38 Amazon FBA
21:10 Creating Prototypes
22:53 Housewares Show Innovation Award
23:54 Why Do Car Wrapping Businesses Fail?
25:08 New Product Development
27:17 Business Advice
29:15 Special Offer