Handy Pan Net Worth 2024: What Happened After Shark Tank

The image shows two men standing side by side. Both are wearing black shirts with a red logo that reads "HANDY PAN." The background appears to be a set from a business pitch show. One man is clean-shaven with short hair, while the other has a shaved head and light facial hair. They both have a serious expression, suggesting they are in the middle of presenting or listening to feedback. The image also features the text "venture fanatics" in the lower-left corner.

Overview

Handy Pan is a non-stick pan with a built-in strainer that was established by childhood friends Adam Chaudry and Josh Conway. The product gained popularity after appearing on Shark Tank and receiving an investment from Lori Greiner.

As of 2024, Handy Pan is estimated to be worth $250,000.

Shark Tank Appearance

To overcome their advertising obstacles, Chaudry and Conway appeared on season 13 of Shark Tank in 2022. They asked for $10,000 for 20% of their startup, a surprisingly low offer.

Lori Greiner showed the most interest and agreed to the initial request, saying she had nothing to lose. The other investors backed out one by one.

After Shark Tank

After the Handy Pan episode aired on television, the product quickly sold out. The founders were surprised by the strong demand and are currently struggling to meet it.

It is unclear whether the deal with Lori Greiner closed in the end.

After the show, deals sometimes fall apart as the Sharks do diligence on the company. Sometimes entrepreneurs also change their mind about giving away equity and just want free publicity.

The pans are only available to buy on their official website, BuyHandyPan.com, but they may soon expand to major e-commerce platforms like Amazon.

Handy Pan continues to receive positive reviews from the majority of its customers.

The founders have not revealed their annual revenue yet but should be able to grow sales if they can expand distribution. Handy Pan is currently worth an estimated $250,000.

The Founders

Adam Chaudry and Josh Conway have been friends since grade school in Ohio.

Chaudry studied business administration at Ohio State University and later went to Capital University Law School. After graduating in 2012, he became the lead attorney and litigator at Chaudry Law, specializing in criminal defense and civil rights.

In 2015, Chaudry invited Conway to become a partner in Chaudway Enterprises, where they invented digital and physical products. Before this, Conway worked as a general manager at a tech firm.

Establishing Handy Pan

The idea for Handy Pan came when the founders were discussing the properties of a napkin. They decided to add a strainer to a non-stick pan to make it more convenient.

After a failed Kickstarter campaign, they partnered with Priority Designs, a consulting firm that helped bring their product to market in 2019.

The pan was initially slow to gain attention due to the founders’ lack of online advertising knowledge. They spent only $550 on advertising and made only $7,900 in revenue.

Lessons From Handy Pan’s Success

Based on the Shark Tank episode about Handy Pan, here are three practical tips for aspiring young entrepreneurs:

1. Keep the initial investment low to attract deals

Handy Pan’s creators sought a modest $10,000 investment for 20% equity.

This approach made their offer attractive and hard to refuse.

Aspiring entrepreneurs should consider starting with a lower investment ask to make their deals more appealing and minimize risks for potential investors.

2. Understand and utilize the power of marketing

The creators acknowledged that their online sales were low due to inadequate promotion and marketing skills. Entrepreneurs should prioritize learning and leveraging effective marketing strategies, especially online and on platforms like Amazon, to reach a wider audience and boost sales.

3. Be persistent and resilient

It took the Handy Pan creators three years of effort to get on Shark Tank. This perseverance demonstrates the importance of staying committed to your goal despite challenges.

Aspiring entrepreneurs should be prepared for a long journey and remain determined, continuously improving their product and strategies until they achieve success.

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