About Velocity Signs
Scott Adams and Josh Faherty are the inventors behind Velocity Signs, a company that is pitched in Shark Tank Season 5. Their company builds automated sign holders. They are portable, rechargeable and interchangeable.
Velocity Signs weights 165lbs making them hard to tip over. They cost between $1895 to $2850. They have sold 125 over the last twelve months. Cost is about $1,000 delivered. Their customers get an average of 15% return on investments.
Velocity Signs run non-stop, don't take breaks and stay productive all the time. They are projecting selling 1,200 units and they are staffing up. They estimate conservatively at $2.5 million dollars.
Velocity Signs Episode Data
- Company: Velocity Signs – Website
- Entrepreneurs: Scott Adams and Josh Faherty
- Ask: $225,000 for 15% equity
- Episode Season 5 Episode 523
- Companies in this episode:
- Mark Cuban
- Barbara Corcoran
- Kevin O'Leary
- Lori Greiner
- Robert Herjavec
- First Aired: 04/10/2014
- Deal: Mark Cuban, Kevin O'Leary and Robert Herjavec at $225,000 for 30% equity
What do the Shark Tank Investors say about Velocity Signs?
- Mark Cuban – likes the business, but once you get one, you don't need two. he is out. Mark throws in that he will place orders for the signs. He says he will order at least five of them for the Mavericks, which will get pictures at games.
- Barbara Corcoran – likes these signs for real estate brokers. But, here is a problem with the weight for Real Estate agents. She wishes she could see the smaller unit. She is out. Barbara Corcoran now says she will be the front person for the Real Estate.
- Kevin O'Leary – would like to see a year or two of sales, and he thinks it will be less than they bleieve. He is out.
- Lori Greiner – likes this as a new and smart way to draw attention to retailers. She offers $225,000 for 30% equity. Kevin says he will come in on that deal, and Mark chimes up also willing to come in as a third. Lori struggles with it, so Mark steps up and changes to add Robert and Kevin to his deal. Barbara says she will go in with Lori for $225,000 at 25%.
- Robert Herjavec – invested in a billboard company years before that was a horrible failure. Consumers get bored with the movement so, he is out.
Velocity Signs after Shark Tank
Sales for Velocity Signs skyrocketed from a half million, to three million in the year following the Shark Tank episode. The deal served their company well.