Little Burros has a net worth of $6 million USD. When the company appeared on Shark Tank seeking a $250,000 investment for 10% equity, The product impressed two Sharks who offered investment deals. However it’s founders decided to decline both offers.
Little Burros Net Worth 2024
| Net Worth | $6 Million |
| Annual Sales | $2.9 Million |
| Profits | $810,000 |
| Available In | 600+ stores |
| Ask | $250k for a 10% equity |
| Shark Tank Deal | No Deal |
Little Burros Sales Revenues
Bob Thorsen and his daughter Mollie presented the Burro Buddy, a wheelbarrow attachment that organizes tools, drinks, and phones for gardeners. At the time, Little Burros had already sold $400,000 worth of Burro Buddies and were present in various retail stores.
After Shark Tank, Little Burros continued to thrive, securing major deals with Lowe’s and Walmart, putting their product in front of millions of potential customers. As of today, the company generates over $260,000 in monthly revenues. An estimated 75% of their sales come from offline stores.
Product Line Expansion
They’ve even expanded their product line beyond the Burro Buddy, offering additional garden tools and accessories. As of today, Little Burros products are available in a wide range of stores, including Lowe’s, Walmart, Menards, Ace Hardware, and True Value.
Little Burros Shark Tank Pitch
The Thorsen family, father Bob, and daughter Mollie, brought their innovative gardening tool, the Little Burro, to the Shark Tank in 2020. Their goal? To secure investment and take their product to the next level.
The Little Burro is a simple yet effective attachment for wheelbarrows that solves a common gardener’s problem: keeping tools organized and accessible. It features slots for long and short-handled tools, a cup holder, and a water-resistant phone compartment, all within easy reach.
The Thorsens’ pitch highlighted the product’s convenience, durability, and appeal to a wide range of gardeners. They even brought in a live demonstration, showcasing how the Little Burro streamlines garden tasks.
Negotiations: Sticking to Their Roots
The Sharks were impressed by the Little Burro’s practicality and the Thorsens’ passion. Lori Greiner and Kevin O’Leary both saw potential in the product and made offers.
Greiner offered $250,000 for a 20% equity stake, with a $1 per unit royalty until she recouped her investment. O’Leary proposed a $200,000 loan with an 8% interest rate and a $1 per unit royalty in perpetuity.
However, the Thorsens weren’t swayed by the monetary offers. They were hesitant about the royalty structures, which they felt could hinder their long-term profitability. Additionally, they were confident in their ability to grow the business without outside investment.
Walking Away: A Bold Decision
In a surprising move, the Thorsens declined both offers. This decision shocked the Sharks and the audience, but it resonated with many viewers who admired their confidence and commitment to their vision.
Beyond the Tank: Blooming Success
The Thorsens’ gamble paid off. Their appearance on Shark Tank generated significant publicity, boosting their online sales and attracting the attention of major retailers.