What happened to Kit Lender after appearing on Shark Tank Season 11? Kit Lender, a company that rents out ski and snowboard clothing, appeared on Shark Tank Season 11 seeking $200,000 for 7% equity. They did not secure a deal with the Sharks, but the company continues to operate and has expanded its offerings.

Kit Lender Shark Tank Update | Shark Tank Season 11

Kit Lender is a service that allows skiers and snowboarders to rent high-quality clothing instead of buying it.

This can be a great option for people who only ski or snowboard occasionally, or who don’t want to deal with the hassle of storing bulky gear.

Kit Lender appeared on Season 11 of Shark Tank, but did they manage to secure a deal with the Sharks? Let’s take a closer look at their pitch and what happened after their appearance on the show.

Kit Lender’s Shark Tank Pitch

1. The Pitch

Entrepreneurs	Geoff and Jenny Shinners
Business	Kit Lender (ski and snowboard clothing rental)
Ask	$200,000 for 7% equity
Deal	No deal
Sharks	Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec, Daymond John
Season	Season 11
Original Air Date	November 17, 2019
Website	Kit Lender
Key Points of Pitch	Convenience sustainability affordability high-quality brands
Why Sharks Declined	Concerns about scalability and competition

2. The Problem and Solution

Geoff Shinners, the founder of Kit Lender, explained that buying ski and snowboard clothing can be expensive, especially for families. It’s also inconvenient to store and travel with bulky winter gear.

Kit Lender offers a solution by allowing customers to rent high-quality clothing from brands like Patagonia and The North Face.

Customers choose their outfits online, and the clothing is delivered directly to their destination. This eliminates the need for purchasing expensive gear and the hassle of packing it.

3. The Sharks’ Response

While the Sharks were impressed with the idea and the company’s early success, they ultimately declined to invest.

Their main concerns were the potential for increased competition and the challenges of scaling the business.

Kevin O’Leary, in particular, believed that Kit Lender would need significant capital to compete with larger companies that could potentially enter the market.

He suggested partnering with major ski resorts to gain a competitive advantage.

Kit Lender After Shark Tank

1. Company Growth and Expansion

Despite not securing a deal on Shark Tank, Kit Lender has continued to grow and thrive. They’ve expanded their inventory to include a wider selection of clothing and accessories, catering to men, women, and children.

The company has also broadened its reach, partnering with more ski resorts and offering services in more locations across the United States.

This expansion indicates that Kit Lender has found a successful model for providing convenient and affordable ski and snowboard clothing rentals.

2. Customer Reviews and Feedback

Kit Lender has generally received positive feedback from customers. Many appreciate the convenience of having clothing delivered directly to their destination, avoiding the hassle of packing and transporting bulky gear.

Customers also praise the quality of the clothing and the ease of the rental process. Some reviewers have noted that renting from Kit Lender can be more affordable than buying, especially for families or those who only ski or snowboard occasionally.

While there have been some negative reviews regarding shipping or sizing issues, the overall response to Kit Lender’s service appears to be positive.

Why Kit Lender Didn’t Get a Deal

1. Potential Reasons for Rejection

While Kit Lender presented a compelling case, there were likely a few key reasons why the Sharks decided not to invest.

• Scalability and Logistics: The Sharks might have been concerned about the complexities of managing inventory, shipping, and cleaning on a larger scale. As the company grows, these logistical challenges could become more difficult and expensive to handle.
• Competition: The ski and snowboard rental market is competitive, with established players and the potential for larger companies to enter the market. The Sharks may have been hesitant to invest in a company that could face stiff competition from businesses with greater resources.
• Profit Margins: Renting clothing typically has lower profit margins compared to selling it. The Sharks might have questioned whether Kit Lender could generate sufficient profits to justify the investment, especially considering the costs associated with shipping and handling.

2. Lessons Learned

Even though Kit Lender didn’t secure a deal, their appearance on Shark Tank provided valuable exposure and likely helped them reach a wider audience. Their experience also highlights some important lessons for aspiring entrepreneurs:

• Anticipate Challenges: Be prepared to address potential concerns about scalability, competition, and profit margins.
• Focus on Differentiation: Clearly articulate what sets your business apart from the competition. In Kit Lender’s case, this could be their focus on high-quality brands, convenient delivery, and sustainability.
• Demonstrate Strong Financials: Provide clear and compelling financial data to show the viability and potential profitability of your business.

Kit Lender’s story shows that even without a Shark Tank deal, businesses can still find success by focusing on their strengths and adapting to the market.

Is Kit Lender a Good Option for Skiers and Snowboarders?

1. Pros and Cons of Renting

Renting ski and snowboard clothing, especially through a service like Kit Lender, offers several advantages:

• Convenience: Avoid the hassle of packing, transporting, and storing bulky winter gear.
• Cost-effective: Renting can be cheaper than buying, especially for infrequent skiers or snowboarders.
• Try before you buy: Experiment with different brands and styles before committing to a purchase.
• Access to high-quality gear: Kit Lender offers premium brands like Patagonia and The North Face.
• Sustainability: Renting promotes a more sustainable approach to consumption by reducing textile waste.

However, there are also some potential downsides to consider:

• Limited selection: You might not find the exact style or size you prefer.
• Potential fit issues: While Kit Lender provides sizing guides, you may need to exchange items for a better fit.
• Shipping delays: Unexpected shipping delays could disrupt your trip.

2. Cost Comparison

Whether renting is more cost-effective than buying depends on several factors, such as how often you ski or snowboard, the quality of clothing you prefer, and your budget.

• Occasional Skiers/Snowboarders: If you only hit the slopes once or twice a year, renting is almost always cheaper than buying.
• Families: Renting can be significantly more affordable than buying for families, especially with growing children.
• High-Quality Gear: If you prefer top-of-the-line brands, renting can provide access to expensive gear without the hefty price tag.

Ultimately, the decision to rent or buy depends on your individual needs and preferences. If you prioritize convenience, affordability, and sustainability, Kit Lender could be a great option for your next ski or snowboard trip.

FAQs

What types of clothing does Kit Lender offer?

Kit Lender offers a variety of ski and snowboard clothing for men, women, and children, including jackets, pants, gloves, and goggles. They carry popular brands like Patagonia and The North Face.

How does the rental process work?

You can browse and select your desired clothing items on the Kit Lender website. Choose your rental dates and provide your shipping information. Kit Lender will ship your order directly to your destination. After your trip, simply repack the clothing in the provided pre-paid shipping label and drop it off at a designated location.

What if the clothes don’t fit?

Kit Lender provides detailed sizing guides to help you choose the right size. However, if the clothes don’t fit, you can contact their customer service for an exchange.

Where does Kit Lender ship?

Kit Lender currently ships to all 50 states in the US. They also partner with various ski resorts for convenient delivery and pick-up options.

Is renting from Kit Lender environmentally friendly?

Yes, renting from Kit Lender promotes sustainability by reducing textile waste and encouraging the use of high-quality, durable clothing.

The Bottom Line

Kit Lender offers a convenient and potentially cost-effective alternative to buying ski and snowboard clothing. While they didn’t secure a deal on Shark Tank, the company has continued to grow and receive positive feedback from customers. If you’re looking for a hassle-free way to gear up for your next winter adventure, Kit Lender is definitely worth considering.