Scrub Daddy Net Worth 2022: Income, Salary, Revenue, Assets

What is Scrub Daddy’s Net Worth?

Aaron Krause is an American entrepreneur and inventor who created “Scrub Daddy” and has a net worth of $70 million. He refers to himself as Scrub Daddy’s “Daddy”. Aaron is a successful entrepreneur and inventor with over 20 years of experience in patenting and developing innovative products.

He prides himself on his hard work, dedication and creativity and has patented products to major big-box stores such as the 3M Company. Scrub Daddy is a brand that started in 2008 and gained popularity after Aaron appeared on “Shark Tank,” where he offered his Scrub Daddy concept and products.

Aaron leaves the Shark Tank stage with Laurie Greiner’s deal for Scrub Daddy. Scrub Daddy was a great success and a best seller. Lori helped him develop his product and pitch it to QVC, Walmart, Target, and Bed Bath & Beyond, and it was a huge success.

First half of life

Aaron Krause was born on February 1st, 1969 in Wynwood, Pennsylvania to Doctors. Aaron’s mother was a pediatrician and his father was a cardiac surgeon. He began inventing things at a young age and graduated from Syracuse University in 1992 with a bachelor’s degree in psychology and a minor in marketing.

Beginning of career

After graduation, Aaron began his career in car detailing, which became a brief success in 1994 in the small Pennsylvania town of Bala Cynwyd. While working in the company’s manufacturing department, he accidentally damaged an automobile while polishing a machine, which prompted him to design a new type of buffing pad. Aaron invented and patented a double-sided buffing pad that solved several challenges in the car cleaning industry.

He then developed pads and made more automobile detailing products. He knew he was onto something when his mantra summed up what he was most passionate about, which was problem solving through innovation. In 2008, Aaron’s Buffing Pad Company was purchased by then 3M, the world’s largest manufacturing corporation.

However, his famous sponge was not included in the transaction. Aaron built the manufacturing equipment needed for his new creation and quickly sold the car wash company. Aaron discovered three years later that his sponge could harden in cold water and soften in hot water. Scrub Daddy was officially launched in 2012, with Aaron pitching it to the home shopping network QVC.

Breakthrough

Aaron’s time with QVC was fruitful, as he sold out all of his units multiple times. However, he was aware that his startup was not achieving its full potential. After watching Shark Tank with his wife, he decided to bring in a strategic partner to grow the retail business. At the time of the pitch, he was in just five supermarkets.

Aaron appeared in season four asking for $100,000 for a 10% ownership in his company. Aaron delivered a high-energy presentation that impressed the Sharks. Kevin O’Leary started the bidding war by offering $100,000 for 50% ownership, but Aaron refused without hesitation.

Daymond John wanted to make a deal with Lori Greiner, the queen of QVC. Lori, on the other hand, wanted to go alone because she didn’t need Daymond. Laurie Greiner ended up taking a risk by offering to sign a $200,000 business deal in exchange for a 20% interest in Scrub Daddy, which Aaron Krause gladly accepted.

Aaron Krause favorite thing

related to Aaron Krause

‘Scrub Daddy’ product

Scrub Daddy’s original design is a yellow round sponge with a smiley face punched into it, made of high-tech polymer. Aaron’s design is protected by two patents. The texture hardens in cold water and softens in hot water. More than 20 items are available under this name, including scouring pads, dual-sided sponges, sink organizers, soap dispensers and home erasers.

After Shark Tank

Krause sold 42,000 sponges in less than seven minutes the day after his Shark Tank appearance. Lori Greiner helped the cleaning equipment brand gain access to all major retail outlets in the United States. Since then, Aaron and Greiner have sold millions of “Smiling Sponges” to such well-known stores as QVC, Bed Bath & Beyond, Wal-Mart, ShopRite, and Bye Bye Baby. Scrub Daddy has surpassed $15 million in retail sales and is quickly becoming a household name.

personal life

Aaron is married to Stephanie, and they have 8-year-old twins, Bryce and Sophie, with whom he enjoys spending time and traveling around the world. Aaron is an ice hockey player and coach in Voorhees Township, New Jersey. Although his management duties often take him around the world, he makes time to mentor young entrepreneurs

Scrub Daddy Net Worth

As of 2022, Scrub Daddy’s net worth is estimated at $250 million. Scrub Daddy grossed over $100 million in January 2017, and lifetime sales reached $209 million by October 2019. Its revenue grew 80% year over year in 2021, and the company’s revenue will exceed $100 million in 2022. Based on estimates, the product’s lifetime sales will exceed $300 million by the end of the year.

The CEO’s business and wealth grew rapidly after appearing on the TV show Shark Tank in 2012. Scrub Daddy’s exposure and popularity skyrocketed on Tiktok, earning millions. Scrub Daddy is considered the biggest financial success in the United States since 2012. The amazing product is currently offered internationally and appears regularly on QVC.