The Clean Sleep Machine Shark Tank Pitch
The Clean Sleep Machine is 99.95% effective at removing mold, bedbugs, and any other thing inside your mattress. Each machine uses UV lights, vacuum and dry steam.
Michael recommends that residential users have their mattresses cleaned every six months, and more frequent for hotel chains. They save hotels money on their mattresses because they clean them, rather than have to replace them.
The standard Clean Sleep Machine service is $89.95. They also up-sell their services. In the last eighteen months they did $100,000 with the first truck. They sold one franchise for $435,000 and used it to cashflow operations.
The potential franchisee will make $75,000 for the first year, and will break even. This is just going to market.
They are in talks to lease machines to hotels and hospitals that will generate royalties with the Clean Sleep Machine.
His machine is pending patent approval for the Clean Sweep Machine.
The Clean Sleep Machine Episode Data
- Company: The Clean Sleep Machine – Website
- Entrepreneur: Michael Ingle
- Ask: $1,500,000 for 15% equity
- Episode Season 7 Episode 718
- Companies in this episode:
- First Aired: 05/09/2014
- Deal: No Deal
What do the Shark Tank Investors say about The Clean Sleep Machine?
- Mark Cuban – thinks if he would have come in saying he wants $150,000 to setup another truck, he would be behind you, but you are going in too many directions. For that reason he is out.
- Barbara Corcoran – says when he first started speaking she thought she is going to get all the mattresses clean, but as he kept going, she realized she is a long way away from the end of the tunnel. She is out.
- Kevin O'Leary – asks what he needs $1.5 million, and he wants to build a couple of machines and place one in a hospital. Thinks he has something amazing, but he is not there yet. He is out.
- Lori Greiner – thinks this is a really smart idea for hotel chains, but she thinks it is going to be a long process. She wants to see her money come back fast. She is out.
- Robert Herjavec – says there are two types of concepts. The first is, “does it work?”, and the second is, “Will the market accept it?” The longer he talked he sees less opportunity. It is not for him, he is out.
The Clean Sleep Machine after Shark Tank
Michael currently has four locations, primarily in Texas, and one in Canada. The company is continuing to seek out new locations for franchisees of their business model.