Currently Reading

Window and Door Pro Lands Deal On Shark Tank

Home Improvement

Window and Door Pro Lands Deal On Shark Tank

Expects it to be new standard in the market

By By James F. McClister February 5, 2020
flexscreen manufacturer on shark tank
This article first appeared in the February 2020 issue of Pro Remodeler.

Joe Altieri is a former window screen salesman and the president and creator of FlexScreen, a flexible alternative to traditional screens. Recently, he appeared on ABC’s hit show Shark Tank—where entrepreneurs pitch ideas to five big-name, big-money investors. He was asking for $800,000 for 6% of his company. 

FlexScreen started in 2013, and took off rapidly. Year one, the company generated $400,000 in sales—a number that grew to $2 million just a year later, Altieri said. By 2018, he continued, FlexScreen’s annual revenue had increased to over $5 million. 

However, Altieri has had trouble with profitability: While the screens sell for $11.50, they cost $10 to make. His gross margin, he said, was only $700,000, or “roughly” 15%. 

The Sharks were flabbergasted. Shouldn’t your margins be higher?  

“Window manufacturers can only get so much for a window,” Altieri told them. “The market is huge.” When pressed on the possibility of a sales premium, Altieri suggested that “window manufacturers are not terribly good marketers.” He told the Sharks that another challenge was that screens have to be custom-made for windows, and so can’t be mass produced. 

Ultimately, despite their questions and reservations, the Sharks were interested. Altieri sold them on the idea that flexible screens are the way the market is going. When they become “the standard,” he wants FlexScreen to be the No. 1 option. The offers started coming one after the other, forcing the investors to counter each other’s bids. Altieri eventually accepted a deal from Lori Greiner, who has experience in the hardware space. He received $400,000 in cash and a $400,000 line of credit at 6% interest for a 10% stake in the company. 

Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Related Stories

Great Day Improvements Acquires LeafGuard and Englert

Leading home improvement company Great Day Improvements purchases two major brands from private equity firm Audax

Latest Private Equity Activity Signals Continued Strength in Home Improvement

A hot month for private equity means the industry remains opportunity-rich

Josh Sparks: To Infinity (Exteriors) and Beyond

A roofer-turned-CEO who’s succeeding in his mission of up-leveling the industry

The Top Customer Expectations Contractors Must Meet in 2024

Hint: There are two vital things customers today expect that they didn't always think about 

Business Coach Cited in Attorney General Lawsuit Against Contractor

A New England contractor faces a civil suit alleging his company’s growth was tied to a business coach with a model that “encourages fraud"

How to Stop Selling and Start Closing Sales

One of the biggest mistakes a salesperson can make is viewing the sales process as a one-sided transaction

Home Improvement Success: Luck, Hard Work, or Who You Know?

Even the most brilliant marketing mind could see fewer opportunities due to lack of networking

Homeowner Trends When Selecting Manufactured Stone

On this episode of Rock Stars of Remodeling, ProVia Product Manager of Stone & Roofing Chance Shalosky joins host Drew Barto to reveal design and color trends that contractors should consider when selling manufactured stone in 2024

Why A Successful Custom Remodeler Started a One-Day Bath Business

On this episode of Rock Stars of Remodeling, Showcase Remodels Owner Sam DeMaio shares why he decided to add a one-day bath business and offers tips on how contractors can accumulate wealth

Learn from the Best in Home Improvement and Remodeling

This year’s Pinnacle Experience aims to help remodelers stay ahead of their competitors by featuring captivating keynote speakers and subject matter experts, collaborative roundtable discussions, and networking with proven players from across the country.


More in Category