Not many have heard about Tree T Pee which is a great product and has been in existence for quite a long time. It is a product that is made of plastic but at the same time is environment friendly. It has been made in a teepee shape which is conical and is attached to the bottom of the tree. The main function of the product is to reduce water consumption by trees and save water.
Now that we know a little about the product let us read more about it and know what the net worth of Tree T Pee is. We shall also read about its founder and how he came up with the idea. Interestingly, this product was also pitched in Shark Tank and got great fame after the show.
What Is Tree T Pee?
Tree T Pee is a plastic device that is placed around the bottom of trees. Its capability to capture three inches of rainwater in an hour which then seeps down into the tree roots, is its main attraction. But who is the genius who came up with this idea? Johnny Georges is the answer. He is the son of Rick Georges, who thought of building such a device that helps save water in irrigation. This father-son duo worked together and built the Tree T Pee. Earlier water sprinklers were used to water the fields, but with this invention, the water is directed to the roots.
The tree t pee was first built by Rick and George Enterprise Inc. and was initially used to protect young trees from frost. One day, Johnny thought of an easy way to save the trees and placed a cone around them; however, it could not solve the whole problem. Johnny didn’t stop thinking and somehow built the t pee that is used to date. When he was using it, he saw that it was a domino effect, and it was also conserving the fuel and power that used to be consumed earlier. Not only this, but it also reduced fertilizer consumption by 75%, and the same happened with herbicides.
Tree T Pee In Shark Tank
Johnny went to the famous show Shark Tank to pitch his idea so that he could grow his business. In the episode, he tells the story to the sharks and then demonstrates the functioning of Tree T Pee. He then explains the cost and selling and tells the sharks that the product is made from 100% recyclable plastic and is made in custom colors where logos can also be printed. Johnny asked for $150k with 20% equity. When asked why doesn’t sell his product at a higher cost, he said that if the prices were raised, farmers wouldn’t be able to afford the product.
One of the sharks, Mark asks Johnny if he has approached other distributors or not, this is when he revealed that he has been selling the product to known people only. Mr. Wonderful, aka Kevin, dropped out of the idea, but to Johnny’s luck, JP De Joria agreed to give George $150k with 20% because he felt that Johnny was on the right path and it would be good to support him. This left others with tears in their eyes.
Tree T Pee’s Net Worth
After the product debuted in Shark Tank, its sales rocketed overnight and are gradually continuing to rise since then. Tree T Pee was primarily built as a tribute to Rick Georges and now has experienced immense growth. It is growing steadily with the help of JP and, in 2021, was known to have a revenue of $5 million. The partners then campaigned and have distributed the product across 80 countries.
The original price of the product was $4.50 with a profit of only %1.55, whereas now the cost of the product is known to be $9.95 on company’s website. Speaking of the Tree T Pee’s net worth, it is estimated to be near about $100 million. The company is now also selling other merchandise. This product has helped many farmers for so many years and will continue to do so.
Also Read: Netflix CEO Net Worth In 2022