Sierra Madre Research, Covered hammocks to replace the common tent, was started by Richard and Juli Rhett in 2010. As of September 2023, Sierra Madre Research’s net worth is $12 Million and they’re pulling in a whopping $576000 in annual revenue.
On October 1, 2017, they appeared on Season 9 of Shark Tank USA and made a deal with Richard Branson, for $175,000 for 15% equity. The final valuation was $1.1 Million, the same as the founder’s initial estimate.
Sierra Madre Research company is still in business. Their products are available on the official website.
Sierra Madre Research Net Worth
| Net worth | $12 Million (2023) |
| Annual Sales Revenue | $576000 (2022) |
| Profits | – |
| Lifetime sales | – |
| Investor | Richard Branson |
| Founders | Richard and Juli Rhett |
| Employees | 20 to 50 |
Sierra Madre Research Net Worth Timeline
| Net Worth 2023 | $12 Million |
| Net Worth 2022 | $10 Million |
| Net Worth 2021 | $8 Million |
| Net Worth 2020 | $7 Million |
| Net worth valuation in 2017 after appearing on Shark Tank | $1.1 Million |
| Net worth valuation in 2017 before appearing on Shark Tank | $1.1 Million |
Sierra Madre Research Pitch on Shark Tank
| Company name | Sierra Madre Research |
| Product | Covered hammocks to replace the common tent |
| Episode | Season 09 Episode 01 |
| Founders | Richard and Juli Rhett |
| Asked for | $175,000 for 15% equity |
| Final deal | $175,000 for 15% equity |
| Shark | Richard Branson |
| Location | Vicksburg, Mississippi, 39180, United States |
Don’t miss these products from Season 9
Sierra Madre Research Founders
Sierra Madre Research was founded by Richard and Juli Rhett in 2010. Richard Rhett is a research mechanical engineer. They want Sierra Madre Research’s founders, Richard and Juli Rhett, to have a net worth of USD 12 Million as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2017 | Sierra Madre Research has been featured on Shark Tank |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business. They have proven that with the right idea and execution, anything is possible. We can’t wait to see the future of Sierra Madre Research and its continued success.