Handy Pan is one of those cooking products that you didn’t know you needed until you saw it. Handy Pan is a non-stick pan with a built-in strainer for convenience. Childhood pals Adam Chaudry and Josh Conway made the product, and they got an investment on Shark Tank from Lori Greiner. As of 2022, Handy Pan is worth $250,000.
About the Founders
Adam Chaudry and Josh Conway have been friends since they were in grade school in Ohio, United States. Josh is very secretive about his educational background, but it is known that his partner studied business administration at Ohio State University.
Chaudry later went to Capital University Law School. After graduating in 2012, he became the lead attorney and litigator at Chaudry Law, specializing in criminal defense and civil rights.
In 2015, he called his old buddy Conway to become a partner in Chaudway Enterprises, where they invented digital and physical products. Before this, Josh was hired at a tech firm as a general manager.
Establishing Handy Pan
The idea for a non-stick pan came when the two gentlemen were talking about the properties of a napkin. At one point, they decided to add a twist to the product by having a strainer built into it.
They started a Kickstarter campaign to bring this concept to life, but it unfortunately failed. Josh and Adam weren’t ready to let go of the invention yet, so they partnered with Priority Designs, the consulting firm that brought their product to market in 2019.
The pan was well welcomed and slowly gained attention after releasing it. However, the founders didn’t know how to promote their product online and spent only $550 on advertising. Consequently, they made a measly $7,900 in revenue.
Shark Tank Appearance
To overcome their advertising obstacles, Adam Chaudry and Josh Conway joined season 13 of Shark Tank in 2022. They asked for $10,000 for 20% of their startup, a surprisingly low offer.
Robert Herjavec asked why they were only asking for $10,000, and the duo said they weren’t in it for the money. They just wanted a Shark that could help their product reach a massive audience.
Lori Greiner was the one who showed the most interest, while the other investors were backing out one by one. In the end, she agreed to the initial request, saying she had nothing to lose.
After Shark Tank
After the Handy Pan episode aired on television, they quickly sold out their inventory. The founders didn’t expect to see such strong demand for the product and are struggling to meet demands at the moment.
It’s not clear if the deal with Lori Greiner closed in the end. After the show, it’s common for deals to fall apart after the Sharks do some diligence on the company. Sometimes entrepreneurs also change their mind about giving away equity and just want the publicity.
The pans are only available to buy on their official website, BuyHandyPan.com, they may soon expand to major e-commerce platforms like Amazon. Handy Pan continues to receive positive reviews from the majority of its customers.
Adam and Josh haven’t revealed their annual revenue yet but should be able to grow sales if they can expand distribution. Handy Pan is currently worth an estimated $250,000.
