Paul Watts started a Graffiti Removal Services business to remove graffiti in his community and earn money. Now, he plans to start his mobile franchising. He appeared on Shark Tank Season 1 seeking $350k for a 15% equity.
So let’s find out whether he got the investment or not and also learn about how his business is doing after Shark Tank.
| Company Name | Graffiti Removal Services | |
| Founder/Co-Founder | Paul Watts | |
| Founded | 2008 | |
| Product | Graffiti Removal Mobile Franchising | |
| Asked For | $350K for 15% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E4 | |
| Air Date | Aug 30th, 2009 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Portland, Oregon, United States | |
| Lifetime Sales | $29k *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
In 1998, he worked as a facility maintenance painter in the City of Sacramento and came up with the idea of providing Graffiti Removal Services to his community. After appearing on Shark Tank, he demonstrated his business franchise and product to the Sharks.
Paul explained that his business is a Graffiti Removal System, and he purchases the product from other manufacturers. His company is located in Sacramento, and they generate $230,000 in revenue annually, with a net profit margin of $70,000. In this mobile franchise model, he will earn money through royalties and franchise sales.
The minimum cost of a GRS franchise is $60,000. Kevin O’Leary said that the company’s valuation is $2.33 million, but only one franchise has been sold. Paul explained that this valuation is based on the growth of his company located in Sacramento.
Barbara Corcoran doesn’t have confidence in this business model working, so she’s out. Kevin Harrington doesn’t see the franchise concept of this business working, so he’s out.
Daymond John doesn’t think this business is worthy of investment, so he declined to provide funding. Robert Herjavec and Kevin O’Leary teamed up to offer $350k for 75% equity in the company, but Paul declined the offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Offer |
| Final Deals | No Deals |
Graffiti Removal Services Shark Tank Update
Paul may feel that he made the right decision by not accepting the Sharks’ investment offer. During the research for the Graffiti Removal Services Update, we found out that Paul has dropped his franchise idea and started a new company called Watts Removal Products. Under this company, he sells products for removing paint, adhesive, overspray, rust stains, and many more.
Hopefully, he will go far with this new business. This is our complete information about this business.
If you need updates on more businesses from Season 1, you can search below.
Paul has started a new business, this time he will get success.