Mini Materials Net Worth Shark Tank Update

With the increase in the development of technology, we are able to create high-level and innovative buildings that highlight the development of the contemporary world. However, for making toys and models we are still stuck to the old-school traditional format of designs and materials.

Jared Waters, the owner of Mini Materials, has the right materials on a minimalistic level. His business offers materials to make dollhouses, dioramas, and 2-scale recreations. The business also provides cute little construction materials like mortar, seesaws, etc. to make the smaller versions of realistic buildings of the customer’s choice.  

The owner came on Shark Tank to request $100K in exchange for 20% of his company. He also presented the sharks with his small tools and blocks to highlight the cuteness of his business. Let’s explore his journey on the show.

Mini Materials Net Worth Shark Tank Update

Jared was looking for an investment of $100K in exchange for 20% equity in the company. At the time of the episode, he valued his company at $500K. Jared did not secure a deal with any of the Sharks. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Mini Materials in 2024 is around $1.5 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N\A	N\A
Mark Cuban	Out	N\A	N\A
Lori Greiner	Out	N\A	N\A
John Daymond	Out	N\A	N\A
Robert Herjavec	Out	N\A	N\A

The Owner’s Backstory

Jared actually bought the Mini Material business one year and one month ago. His business is related to the Reddit online forum. One of the members of Reddit saw small blocks and got attracted to them. He then started making them himself. He then posted them on the Reddit page, which got positive responses from the people and then he started his side business with them. He then posted to sell the business and that’s where Jared contacted them and purchased the business from them.

Jared himself grew up in Idaho and got school at a two-room schoolhouse. After graduation, he moved to Portland, and then within no time he not only got a professional job and a house but also married and had children. His desire to found a business was always inside him and this led to his buying of Mini Materials from Reddit.   

Initial Pitch

The owner came on the show to seek $100K for a 20% equity stake. His company provides real materials like cement and mortar to make realistic small-level buildings for doll houses and different project models. They are supplied with authentic, high-quality, and modern miniature building materials to build dollhouses, dioramas, and 2-scale recreations. Moreover, the materials are made in the US.

Queries about the Product

Mr. Wonderful was the first to ask a question about the need for the product he is offering. Jared replied that it is used by people as a toy to bring joy to their lives.

Herjavec asked about the amount he paid to buy the business from Reddit. The owner pointed out that he paid around $200K for the business.

The shark also wanted to know where he got that amount from to buy the business. He related that he took a HELOC, home equity line of credit, against his house. He was attracted to the business for its ability to make things out of it.

Cuban asked about his margins on the products. Jared replied that for individual products the margins vary from 50% to 93% with blended rates of about 75%.

Kevin then inquired about his sales. The owner highlighted that last year he made around $200K in sales.

Lori was curious to know if he was the only owner of the business. Jared replied in the affirmative and added that he also made the products himself.

Herjavec then grabbed a pallet of blocks and asked about its selling rates. The owner pointed out that it sells for $20 without the logo printed on it and it costs him $4 to make.

Daymond wanted to know about the age range that can use the product. He highlighted that according to his packaging guideline ,it is used by kids between 8 to 12 years of age.

Cuban asked about his workings on social media. He highlighted that he is using social media to stop animation. He also added that he is here on the show to tackle his marketing problems.

Kevin inquired about his profits on the $200K. He replied that he is making a profit from it and has pulled out $55K for himself from it too.

Shark’s Response and Final Decision

When Jared was unable to answer Daymond about the product’s average users, the shark immediately dropped the deal.

Kevin was the next shark to drop the deal as he considers the business to be too small for him to invest in.

Lori also backed out as she considered the business to be not fit for her.

Herjavec because of the business’s low scalability passed the deal too.

Finally, Jared’s last hope, Cuban also backed out of the deal as he considers the business to be new and it would take decades to grow. Thus, Jared left the show without getting any deal on his hands.

Product’s Availability

Mini Materials is still in business and has grown since appearing on Shark Tank. Being on the show gave the company a good sales boost and helped more hobbyists learn about their products.

As the popularity of miniatures continues to rise, the company benefited from great exposure on Shark Tank. On their website, you can order custom prints on some of their miniature building supplies. They also run a blog filled with creative ideas for people interested in making miniature projects.

Conclusion

Even though Jared did not get a deal on Shark Tank, Mini Materials has continued to grow. The exposure from the show helped boost sales and introduced more people to the world of miniatures. The company offers a unique range of miniature building supplies that are used by hobbyists for various projects, and it remains successful in the growing miniature industry. With their custom printing options and a blog full of creative ideas, Mini Materials continues to inspire those who enjoy working on small-scale creations.