Mini Materials – A small company’s giant leap after Shark Tank

In the world of micro-building, when whimsy meets practicality, Mini Materials has found a far-from-tiny niche. As the world’s leading micro-building company, Mini Materials is committed to providing educational tools that make learning a hands-on experience. Under its new owner, Jared Waters, the company appeared on Shark Tank, but no deal was struck. Mini Materials is currently valued at $500,000.

Jared Waters’ Background

Mini Materials dates back to 2015 and was founded by Mat Hofma and Erik Polumbo. Mat is an art director and Erik is a real estate agent and serial entrepreneur.

Together, they identified a gap in the market for realistic, scaled-down versions of building materials. Their target audience is amateurs, professionals, and dreamers who are creating small-scale architectural marvels.

Over time, their product line has expanded, but the size of the products has remained small. By 2022, they were selling over 150 different products. With only 5 employees, they sold over 250,000 cement products and grew their total sales by 12% that year alone.

Mini material collection

Jared Waters’ acquisition marks a new chapter for Mini Materials. Waters has been following the development of Mini Materials for some time before taking over, as he relocated operations from Virginia Beach to Portland, Oregon, and breathed new life into the company.

Under his leadership, the company continued to thrive, and he introduced 30 new products in just six months using technologies such as laser cutting, substrate printing, and 3D printing.

Waters retains Matt and Eric’s primary customer base, which includes fingerboarders, model makers, dollhouse designers, diorama builders, STEM/STEAM educators and model train enthusiasts.

After Shark Tank

Considering how much Waters invested to acquire the company, appearing on Shark Tank was a way to get a quick payoff! The episode aired in November 2023, and the hype should have helped them sell at least $50,000 worth of product in a week.

Their website, MiniMaterials.com, has already attracted a lot of visitors. With over 460 reviews and an impeccable 5-star rating, their products range from custom cinder blocks to red bricks and wooden pallets that can be personalised with custom logos. But it’s not just raw materials; the company also produces street signs, furniture and decorative items to add life and authenticity to any miniature project.

Before Jared Waters bought it, skeptics might have thought there was a limited market for Mini Materials. However, according to TrepTalks.com, Mini Materials has proven its worth, generating a steady $20,000 in revenue per month.

Mini Materials is about to enter a multi-million dollar market. With a diverse customer base and limited competition, the question is not whether they can lead the market, but how big this mini empire can grow.

Categories: Shark Tank
Source: dut.edu.vn