SEASON 5 EPISODE 12
magnetic holiday lights
$125,000 for 20%
What is Lite Netics?
Lite-Netics is a company offering the first magnetic light strands. The purpose of Lite-Netics is to allow for quick and easy attachment of Christmas lights with magnets as opposed to using hooks, wire, or other fasteners. The light strands are durable enough to hold up in inclement weather and each magnet is capable of holding 26 pounds. Lite-Netics also offers a variety of colored bulbs and other lighting accessories.
Who Owns Lite Netics?
Shawn Genenbacher founded Lite-Netics in 2009. Prior to starting Lite-Netics, he attended Texas Tech Univerisity. Genenbacher remains the CEO of Lite-Netics today as the company continues to be a success. He also works as an Architect/Project Manager for Tigris LLC.
As an entrepreneur, Genenbacher saw a problem that he knew he needed to fix. He was inspired to create Lite-Netics as a solution to a common struggle – stringing up Christmas lights. After coming up with the idea of magnetic lights, he had his product patented and managed to sell $118,000 worth of Lite-Netics in the first 12 months of business, scoring a $38,000 profit. In his first four years of operation, he managed to bring in just over $400,000 by directing his focus to selling to professional installers and commercial carriers of Christmas products.
Lite-Netic is still in business today and continues to sell its magnetic light strands through its website. At about one dollar per foot, these lights are a little too expensive for retail – however, the amount of time and frustration they save while putting up Christmas lights could just make it worth the investment.