|Net Worth:||$75 million|
|YouTube Channel:||Scrub Daddy (@ScrubDaddyOfficial)|
|Full Name:||Aaron Krause|
|Date of Birth:||February 1, 1969|
|Place of Birth:||Wynnewood, Pennsylvania|
|Height:||6 ft 0 in|
Frequently Associated With
- Scrub Daddy
- Shark Tank
- Lori Greiner
- Net Worth of Aaron Krause
- Aaron Krause’s Background and Early Career
- How Scrub Daddy was invented
- Inventions and Innovations by Aaron Krause
- Aaron Krause’s Appearance on Shark Tank
- Philanthropic Efforts and Charitable Contributions by Aaron Krause
- Aaron Krause’s Future Plans and Goals for Scrub Daddy
- Lessons that can be Learned from Aaron Krause’s Career and Success
- Interviews and Media Appearances featuring Aaron Krause.
- Aaron Krause’s Wife and Family
- Did Aaron Krause Grow Up Rich or Poor?
Net Worth of Aaron Krause
Aaron Krause’s net worth is estimated to be roughly $75 million.
Scrub Daddy is a privately held company and is not publicly traded. As a result, its financial information is not publicly available. However, according to various reports, Scrub Daddy has generated significant revenue since its founding in 2008.
In 2019, it was reported that the company had generated over $200 million in revenue since its inception. As founder and CEO of the company, Aaron has received an estimated $75 million in income, both through earned income as CEO and as distributions from the company itself.
Scrub Daddy has continued to experience significant growth in recent years, and its products are now sold in numerous retail outlets throughout the United States and internationally. Scrub Daddy has strong potential for continued financial success in the future.
The company has a loyal customer base and its products are highly regarded for their effectiveness and innovative design. Additionally, Scrub Daddy has expanded its product line in recent years to include a range of other cleaning products, which could help to further boost its revenue.
Aaron Krause’s Background and Early Career
Aaron Krause is an American entrepreneur and inventor who is best known for founding the company Scrub Daddy, which produces a range of household cleaning products, including the innovative Scrub Daddy sponge.
Krause was born and raised in the United States, and his interest in invention and entrepreneurship began at a young age. As a child, he was fascinated by the workings of mechanical devices, and he spent much of his free time tinkering with gadgets and machinery.
Krause’s early career was marked by a number of different business ventures, including founding and running his own pool maintenance company, working as a salesman for various electronics companies, and operating a mobile car detailing business. However, it was his work as a chemical engineer that ultimately led to the creation of Scrub Daddy.
While working in the chemical industry, Krause developed a new type of foam material that was capable of changing its texture based on the temperature of the water. He recognized the potential applications of this material for cleaning products and began working on developing a prototype for a new type of cleaning sponge.
Krause’s early experiences as an entrepreneur and his background in chemical engineering were key factors in the development of Scrub Daddy. He was able to use his knowledge and skills to create a unique and innovative product that stood out in the crowded household cleaning product market.
Additionally, his experience as a salesman and marketer helped him to successfully promote and sell his product, leading to the success and growth of the Scrub Daddy brand.
How Scrub Daddy was invented
For years, Aaron Krause worked as a factory floor manager for the company 3M. The Scrub Daddy material was invented by 3M company for a product that never came to be. The material stayed on the factory floor and was never used, and the patent for it was never filed.
One day Aaron’s wife asked him to clean the patio furniture and having had a large box of this material with him, Aaron discovered the miraculous properties of this material, it softens in hot water, and hardens in cold water. All while not being abrasive enough to damage paint, but strong enough to clean up messes.
Inventions and Innovations by Aaron Krause
In addition to the Scrub Daddy sponge, Krause has developed a range of other innovative cleaning products, including the Scrub Mommy sponge, which is a dual-sided sponge with a smiley face design that provides users with different cleaning options.
Krause has also developed a line of Scrub Daddy cleaning accessories, such as caddies and holders, to help customers organize and store their cleaning products.
Additionally, his commitment to using environmentally friendly materials and production methods has helped to position his company as a leader in the sustainable cleaning product space.
Aaron Krause’s Appearance on Shark Tank
Aaron Krause’s appearance on the television show Shark Tank was a pivotal moment in his career as an entrepreneur and inventor. The show, which features entrepreneurs pitching their businesses and products to a panel of potential investors, provided Krause with an opportunity to showcase his innovative cleaning product, the Scrub Daddy sponge, to a national audience.
During his appearance on the show, Krause presented his product to the panel of investors, which included well-known business leaders such as Mark Cuban and Barbara Corcoran. He explained the unique features of the Scrub Daddy sponge, including its ability to change texture based on water temperature, and highlighted the potential for his product to revolutionize the household cleaning product industry.
The investors were impressed by Krause’s product and his business acumen, and several of them expressed interest in investing in his company.
During Aaron Krause’s pitch on Shark Tank, there were a few points of contention raised by the sharks regarding his product and business strategy. Here are some of the main points:
- Valuation: One of the primary points of contention was the valuation of the company. Some of the sharks felt that Krause’s asking price was too high for a company that had not yet achieved significant sales. They questioned whether the valuation was based on the potential of the product or on actual sales figures.
- Patent Protection: Another point of concern was whether the Scrub Daddy sponge had adequate patent protection. Some of the sharks expressed concern that other companies could easily copy the product and sell it at a lower price, potentially hurting the company’s profitability.
- Distribution: The sharks also questioned Krause’s strategy for distribution of the product. They asked whether he had plans to expand beyond the small retailers that currently carried the product and into larger national chains, such as Walmart or Target.
Ultimately, Krause struck a deal with investor Lori Greiner, who agreed to invest $200,000 in exchange for a 20% stake in Scrub Daddy.
Philanthropic Efforts and Charitable Contributions by Aaron Krause
Aaron Krause has made philanthropy and charitable contributions a key part of his business strategy. He has been involved in a number of initiatives and organizations that aim to make a positive impact on the environment and on communities in need.
One of Krause’s main philanthropic efforts is his commitment to environmental sustainability. The Scrub Daddy brand has made a strong commitment to using eco-friendly materials and production methods, with the goal of reducing waste and minimizing the company’s impact on the environment. This commitment has helped to position the Scrub Daddy brand as a leader in the sustainable cleaning product space.
In addition to his environmental efforts, Krause has also been involved in charitable organizations that focus on improving the lives of those in need. He has made donations to organizations such as the American Cancer Society and the Make-A-Wish Foundation, and has worked with local food banks and other community organizations to provide support to those facing economic hardship.
Krause has also been involved in education initiatives, with a focus on encouraging young people to pursue careers in science, technology, engineering, and math (STEM) fields. He has spoken at local schools and universities about his experiences as an inventor and entrepreneur, and has provided support and mentorship to students interested in pursuing careers in innovation and entrepreneurship.
Aaron Krause’s Future Plans and Goals for Scrub Daddy
One of Krause’s main goals for Scrub Daddy is to expand the company’s product line and distribution channels. He plans to continue to develop new and innovative cleaning products that meet the changing needs of consumers and to expand the company’s distribution beyond North America and Europe to reach consumers in new markets around the world.
He is also committed to continuing to prioritize sustainability and eco-friendliness in the company’s production methods and materials. He plans to further reduce the company’s carbon footprint and waste output.
Lessons that can be Learned from Aaron Krause’s Career and Success
Aaron Krause’s career and success with the Scrub Daddy brand offer valuable lessons for entrepreneurs and business leaders. Here are a few key takeaways:
Innovation is key: Krause’s success with Scrub Daddy is due in large part to his ability to innovate and create products that meet the changing needs of consumers. As markets and industries evolve, businesses must be willing to adapt and innovate to stay ahead of the curve.
Sustainability is important: Krause recognizes the importance of sustainability in the modern business landscape and has made it a priority for his company. Consumers are increasingly concerned about the environmental impact of the products they use, and businesses must be willing to prioritize sustainability if they want to stay relevant and competitive.
Company culture matters: Krause understands the importance of creating a positive and supportive work environment, and has invested in his team to ensure that they have the skills and resources they need to succeed. A positive company culture can help attract and retain top talent, foster innovation and creativity, and drive overall success.
Philanthropy and giving back are important: Krause has been involved in a number of philanthropic and charitable initiatives, and believes that businesses have a responsibility to use their resources and influence to make a positive impact on the world. This can help build goodwill with customers and employees, and create a sense of purpose that goes beyond profit.
Interviews and Media Appearances featuring Aaron Krause.
Aaron Krause has been featured in a number of interviews and media appearances, sharing his insights and experiences as an entrepreneur and business leader. Here are a few examples:
Shark Tank: Perhaps the most notable media appearance featuring Krause was his appearance on Shark Tank in 2012, where he famously secured a deal with investor Lori Greiner. The episode was widely watched and helped bring attention to Krause’s innovative product and business acumen.
Forbes: Krause has been featured in Forbes magazine, where he has shared insights on his entrepreneurial journey and the lessons he has learned along the way. In one interview, he emphasized the importance of staying humble and always being willing to learn from others.
Inc.: Krause has also been featured in Inc. magazine, where he has shared his thoughts on innovation and sustainability in the business world. In one interview, he emphasized the importance of creating products that are not only effective but also environmentally friendly, and discussed how his company has worked to achieve this goal.
Entrepreneur: Krause has also been featured in Entrepreneur magazine, where he has discussed his strategies for building a successful company and creating a positive company culture. In one interview, he emphasized the importance of hiring the right people and investing in their development, as well as creating a sense of purpose and shared values within the company.
CNBC: Krause has also appeared on CNBC, where he has discussed the impact of the pandemic on his business and the importance of resilience and adaptability in the face of challenges. He emphasized the need for businesses to be agile and willing to pivot their strategies in response to changing circumstances.
The New York Times: Krause was featured in a New York Times article in 2014, where he discussed the success of his product and the impact of his appearance on Shark Tank. He emphasized the importance of staying focused on the customer and creating products that meet their needs.
Bloomberg: In a Bloomberg interview, Krause discussed his strategies for building a successful business and the challenges he has faced along the way. He emphasized the importance of building strong relationships with customers and suppliers, and being willing to take calculated risks.
FOX Business: Krause has also appeared on FOX Business, where he has discussed his company’s growth and the impact of the pandemic on his business. He emphasized the importance of staying focused on the customer and adapting to changing circumstances in order to remain successful.
The Philadelphia Inquirer: Krause has been featured in his local newspaper, The Philadelphia Inquirer, where he has discussed his experiences as an entrepreneur and the challenges of running a successful business. He emphasized the importance of being persistent and resilient, and of seeking out mentors and advisors to help guide your journey.
The Huffington Post: In an interview with The Huffington Post, Krause discussed his philosophy on business and entrepreneurship. He emphasized the importance of having a clear vision for your company and staying true to your values, even in the face of challenges.
The Today Show: Krause appeared on The Today Show in 2016 to showcase his latest product, the Scrub Daddy sponge. He demonstrated the sponge’s unique features and discussed the company’s commitment to sustainability and environmental responsibility.
The Washington Post: In an article for The Washington Post, Krause discussed the challenges of manufacturing products in the United States and the importance of supporting domestic manufacturing. He emphasized the value of creating jobs and supporting local economies through responsible manufacturing practices.
ABC News: Krause was featured in a segment on ABC News, where he discussed his company’s growth and success. He emphasized the importance of staying focused on the customer and creating products that meet their needs, as well as the value of building a strong team and company culture.
Aaron Krause’s Wife and Family
Aaron Krause is married to his wife, Mandy Krause. Together, they have two children. The Krause family resides in the Philadelphia area, where they are actively involved in their community.
While Krause is best known for his entrepreneurial success with Scrub Daddy, he places a strong emphasis on his family and personal life. In interviews, he has discussed the importance of balancing work and family, and of creating a supportive environment that allows him to be present for his loved ones while pursuing his professional goals.
Krause’s commitment to family and community is also reflected in his philanthropic efforts. He has been involved in a variety of charitable causes and organizations, including initiatives to support local schools, environmental conservation, and disaster relief efforts.
Did Aaron Krause Grow Up Rich or Poor?
Aaron Krause grew up in a very rich and hard-working family. His father was a cardiothoracic surgeon while his mother was a pediatrician. He had a very luxurious upbringing and was instilled in a sense of hard work and ambition as both of his parents were very successful physicians earning quite close to $900,000 a year salary-wise.
As many other kids growing up in this type of household, entrepreneurship was a natural direction to head into since the capital was there to play around with to get a multiple-fold return on investment while maintaining a safety net even if ventures failed.