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04-Sep-2015 22:53

Where are they now: After Greiner made the deal with Krause for 20 percent, Scrub Daddy became the biggest "Shark Tank" success to date, reports Business Insider.

When Krause landed a spot on "Shark Tank," his company was struggling, reaching only 0,000 in sales in 18 months.

Since its television debut, Scrub Daddy has raked in more than million.

Consumers can buy the product on QVC and in retail stores such as Target and Bed Bath & Beyond.

More than 500 businesses have been pitched on the show over five seasons ("Shark Tank" is currently in its sixth season), but more than 50 percent of the ideas that are given the green light on the air don't end up closing the deal when the cameras turn off, according to The

The lucky few who have landed a coveted handshake from Sharks, such as Mark Cuban, Barbara Corcoran or Lori Greiner, form invaluable business partnerships and gain exposure that hopefully leads to a big boost in sales.

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And if an investor, or Shark, likes their ideas, they try to negotiate offers and seal the deals with golden handshakes.

"Proper planning prevents poor performance," he said.

Krause is on a mission to "reinvent the sponge," and the Scrub Daddy line has expanded to include various sizes.

In an interview with GOBanking Rates, Krause shared a few tips on how other entrepreneurs can perfect their pitches.

Scrub Daddy products can be used to clean household or outdoor items, as well as cars and boats.Its unique design tackles hard-to reach-places, like the bottom of a mug or shower corners, and won't scratch delicate surfaces.

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