What is Outer known for in the outdoor furniture market? Outer is a company that makes premium outdoor patio furniture with a built-in protective cover for convenient storage and weather protection.
Summary
- Outer, a premium outdoor furniture company, appeared on Shark Tank Season 11.
- Founders Terry Lin and Jiake Liu sought $750,000 for 4% equity.
- They secured a deal with Lori Greiner for a $750,000 loan at 5% equity and a $30 royalty until $1 million is repaid.
- Despite not finalizing the deal with Lori, Outer has thrived.
- The company boasts estimated annual revenue of $45 million.
- Outer has expanded its online offerings and established 500 showrooms across the United States.
Outer Shark Tank Update | Shark Tank Season 11
In recent years, there’s been a growing trend towards embracing the outdoors as an extension of our living spaces. People are seeking ways to connect with nature, relax, and entertain in their own backyards.
This has fueled a demand for comfortable and stylish outdoor furniture that can withstand the elements and enhance the enjoyment of outdoor spaces.
Outer’s Innovative Approach to Patio Furniture
Outer recognized this trend and sought to revolutionize the outdoor furniture market.
The company’s founders, Terry Lin and Jiake Liu, saw an opportunity to create premium patio furniture that was not only beautiful and durable but also incredibly convenient.
Their key innovation? A built-in cover that effortlessly protects the furniture from the elements, eliminating the hassle of separate covers and storage.
Outer on Shark Tank Season 11
1. The Founders and Their Vision
Terry Lin and Jiake Liu, both with backgrounds in design and e-commerce, came together with a shared vision: to create outdoor furniture that seamlessly blended style, comfort, and functionality.
They were driven by a desire to enhance people’s outdoor living experiences and provide a solution to the common frustrations associated with traditional patio furniture.
2. The Pitch and the Sharks’ Reactions
Lin and Liu stepped into the Shark Tank in Season 11, Episode 8, seeking an investment of $750,000 for 4% equity in their company.
Their pitch highlighted the unique features of Outer furniture, emphasizing the convenience of the built-in cover and the high-quality materials used in construction.
The Sharks were impressed with the product’s design and the founders’ passion, but some expressed concerns about the company’s valuation and the competitive landscape of the outdoor furniture market.
| Entrepreneurs | Terry Lin and Jiake Liu |
|---|---|
| Business | Outer (Outdoor furniture) |
| Ask | $750,000 for 4% equity |
| Deal | $750,000 loan for 5% equity + $30 royalty |
| Sharks | Lori Greiner |
| Season | Season 11 |
| Original Air Date | October 27, 2019 |
| Website | Outer |
| Key Points of Pitch |
|
| Why Sharks Accepted |
|
3. Lori Greiner’s Deal
Lori Greiner, recognizing the potential of Outer and the founders’ drive, offered a deal of $750,000 as a loan for 5% equity in the company, along with a $30 royalty on each unit sold until the loan was repaid.
This deal provided Outer with the capital needed for expansion while mitigating some of the risk for Greiner.
Though the deal was ultimately not finalized after the show, the exposure and validation from Shark Tank provided a significant boost to Outer’s growth.
Outer Update: Life After Shark Tank
1. Company Growth and Success
While the deal with Lori Greiner ultimately didn’t go through, Outer experienced a significant boost after appearing on Shark Tank.
The company’s sales surged, and they successfully raised further capital from other investors.
Today, Outer boasts estimated annual revenue of $45 million, proving that their innovative approach to outdoor furniture resonated with consumers.
2. Expansion of Product Lines and Showrooms
Outer hasn’t slowed down since their Shark Tank appearance. They’ve expanded their product line to include a wider variety of outdoor furniture, such as sofas, sectionals, chairs, tables, and even fire pits.
They’ve also introduced innovative accessories like their Bug Shield Blanket, which uses all-natural chrysanthemum extract to keep insects away.
3. Focus on Sustainability and Customer Experience
Outer is committed to sustainability and minimizing its environmental impact. They use durable, eco-friendly materials like recycled plastics and teak wood certified by the Forest Stewardship Council.
The company also prioritizes responsible manufacturing practices and aims to reduce waste throughout its supply chain.
Why Outer Stands Out
Outer has quickly become a leading name in the outdoor furniture industry. Several key factors contribute to their success and differentiate them from the competition:
1. Built-in Protective Cover
Outer’s signature feature is the integrated “OuterShell.” This built-in cover is cleverly concealed within the furniture itself and can be easily pulled over to protect cushions from rain, sun, dirt, and even pollen.
This eliminates the need for separate covers that often get lost or damaged, making it incredibly convenient to keep furniture clean and protected.
2. High-Quality Materials and Construction
Outer uses premium materials to ensure their furniture is both stylish and long-lasting. Their frames are made from rust-proof stainless steel or lightweight aluminum, while their cushions feature multi-layer memory foam wrapped in durable, weather-resistant fabric.
This commitment to quality ensures that Outer furniture can withstand the elements and provide lasting comfort.
3. Focus on Sustainability
Outer is dedicated to environmentally responsible practices. They utilize recycled materials whenever possible, including ocean plastic recycled into their all-weather wicker.
Their teak wood is sourced from sustainably managed forests certified by the Forest Stewardship Council.
Outer also prioritizes responsible packaging and aims to minimize waste throughout its operations.
4. Customer-Centric Approach
Outer places a strong emphasis on customer satisfaction. They offer a 14-day free trial, allowing customers to experience the furniture in their own homes before committing to a purchase.
Their products come with a generous warranty, and their customer support team is readily available to address any questions or concerns.
This commitment to customer service has helped Outer build a loyal customer base and foster a strong sense of community.
The Future of Outer
Outer has achieved remarkable success in a short period, but the company shows no signs of slowing down. Here’s a glimpse into what the future may hold for this innovative outdoor furniture brand:
1. Continued Innovation and Expansion
Outer is committed to pushing the boundaries of outdoor living. We can expect to see continued innovation in their designs, materials, and technology.
This may include new furniture styles, advanced fabrics with enhanced durability and stain resistance, and smart features integrated into their products.
Further expansion of their product lines is also likely, with potential additions such as outdoor lighting, rugs, and other accessories to create a complete outdoor living experience.
2. Potential for International Growth
Currently, Outer primarily focuses on the US market. However, with the increasing global demand for high-quality outdoor furniture, international expansion seems like a natural next step.
Outer’s unique selling propositions, such as the built-in cover and focus on sustainability, are likely to resonate with consumers worldwide. Expanding into new markets could significantly increase their reach and impact.
3. Commitment to Sustainable Practices
Outer has demonstrated a strong commitment to sustainability from the outset. As the company grows, we can expect this commitment to remain a core value.
This may involve increased use of recycled and sustainable materials, further reduction of waste and emissions in their operations, and initiatives to promote environmental awareness among their customers and the wider community.
By prioritizing sustainability, Outer can solidify its position as a leader in responsible outdoor furniture manufacturing.
FAQs
Where can I purchase Outer furniture?
Outer furniture can be purchased directly from their website, liveouter.com. You can also explore their products and experience them firsthand at one of their many Neighborhood Showrooms across the United States.
What is the warranty on Outer products?
Outer offers a generous warranty on their furniture. Frames have a 10-year warranty, while cushions and wicker have a 3-year warranty. This demonstrates their confidence in the quality and durability of their products.
Does Outer offer financing options?
Yes, Outer provides financing options through Affirm, allowing customers to spread out the cost of their purchase over time with flexible payment plans.
What is Outer’s return policy?
Outer offers a 14-day free trial period. If you’re not completely satisfied with your purchase, you can return it for a full refund within 14 days of delivery.
The Bottom Line
Outer’s journey from Shark Tank to becoming a major player in the outdoor furniture market is a testament to their innovative approach, commitment to quality, and customer-centric philosophy. By combining stylish design, durable materials, and convenient features like the built-in OuterShell, Outer has created a unique offering that enhances outdoor living experiences.
Their dedication to sustainability and community building further strengthens their position as a brand that cares about both its customers and the environment. If you’re looking to elevate your outdoor space with furniture that is both stylish and functional, Outer is certainly a brand worth considering.
