A wisp is more than just a broom. You can use it to clean up both small and large messes. To facilitate Wisp’s ‘wisping’ cleaning process, they have ergonomically redesigned the broom and dustpan into a one-hand, one-footed composite cleaning tool. About $14 million is the approximated net worth.
Wisp Broom Net Worth
As of today, the Wisp Broom has an estimated value of over $14 million.
A wisp sweeper is a household cleaning tool. One-handed use is possible with this tool. It makes cleaning a house easier than it has to be.
Eben Dobson, the inventor of the wisp sweeper, has twenty years of experience in the financial services industry and is a self-motivated and creative inventor and entrepreneur.
For his latest entrepreneurial endeavor, he brings long-term ingenuity and cooperation to the table. Also, he aims to improve the efficiency of the floor cleaning industry. After hearing about it, he became intrigued by the idea of starting his own business.
After years of research to better his product, he began appearing on shows such as The View and Good Morning America, which helped popularise his innovation.
Let’s Get to Know About the Founder
Eben Dobson, founder of Wisp Industries, redesigned the traditional broom and dustpan, and he created the revolutionary floor cleaning system.
Dobson, a lifelong golfer, came up with an etiquette guide to help golfers take ownership of the sand they kick out of bunkers onto the green. The Wisp system was born from this concept.
In his previous job, Dobson advised professional athletes on financial matters.
Dobson’s business success is paired with a desire to pass on his love of golf to the next generation.
In order to help talented underprivileged junior golfers, he has set up a charitable foundation that awards college scholarships.
The ‘Shark Tank’ Pitch
After pitching his Wisp Broom to Shark Tank investors, Eben Dobson requested a $500 000 investment for 10% ownership of his company.
Lori Greiner and Barbara Corcoran used the Wisp to show the device’s ease of use, and negotiations began afterward.
Aside from his personal investment, Dobson’s company generated total sales of $3,350,000. He had a $600,000 loss the year before and has $300,000 in unsold inventory. The company’s financial situation was precarious.
Because of the risky financial situation of the company Mark Cuban, Sarah Blakely, Greiner and Corcoran almost immediately backed out of the negotiation. As a result, he could not make a deal at Shark Tank.
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Investment or Financial Partner?
The entrepreneur Kevin O’Leary stepped forward, saying that Dobson needed more than just financial support; he needed a business partner who could assist him in making better business decisions.
He offered Dobson $500,000 in exchange for a 50% stake in the business. When it came to the size of the equity stake O’Leary wanted, Dobson was clearly on the fence.
As soon as O’Leary put up the money, Greiner swung into action, saying she would help Dobson sell the product on QVC.
If Greiner wasn’t going to invest in the company, O’Leary was displeased.
As O’Leary stood up to shake Dobson’s hand, Dobson was still conversing with Greiner.
A frustrated O’Leary retracted his offer, saying: “It was in your hand and you’re talking to her? You’ve been booted out. I’ll be back. Take the broom with you, please.”
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Let’s Talk Numbers
- Wisp Industries, Inc.’s annual revenue is $7,031,000
- Revenue per employee is $200,885
- Variance of revenue growth is 0.0
- Annual revenue growth since founding is $ 703,100
- Revenue growth rate from first known quarter to current is 0.4%
G2 – Income per employee more than industry average.
G3 – Revenue growth rate from the first known quarter to current is higher than the industry average.
G5 – Variance of revenue growth is less than the industry average.
G6 – Annual revenue growth since founding is higher than the industry average.
G7 – Website traffic rankings are better than the industry average.