BevBuckle Net Worth 2022 – What Happened After Shark Tank
Want to free your hands when you’re holding an open beverage?
Whether you’re cooking meat on the barbeque or dicing some veggies in the kitchen, you may need something like the BevBuckle to hold your drink.
Jay Kriner came up with the BevBuckle back in 2002 and worked on the concept for many years before approaching the Sharks on Shark Tank.
Want to know if his deal went through? Keep reading to find out how they developed a net worth of over $2.25 million today.
Nicepipes Quick Facts
Name |
BevBuckle |
Company Net Worth: |
$2.25 million Estimate |
Pitch: |
Drink holding belt |
Entrepreneur: |
Jay Kriner |
Asked For: |
$50,000 for 10% equity |
Deal: |
$50,000 for 51% equity |
Shark: |
Barbara Corcoran |
What is BevBuckle?
The BevBuckle is a buckle that you put on your belt to hold your beverage.
On the BevBuckle website it states that the device is the world’s first retractable belt buckle that can hold your favorite canned or bottled drink.
This belt buckle allows you to free your hands of your beverage so you can do other activities such as shake someone’s hand, prep meat for a barbeque or even eat a bag of chips. The BevBuckle comes in a variety of designs for you to choose from.
Who is the Owner?
The owner of the BevBuckle is Sean Coffman who is also the founder of Carsforsale.com and a successful entrepreneur.
He saw the BevBuckle on an episode of Shark Tank and wanted to buy one from the founder. But after struggling to buy the product he decided to buy the company.
What is BevBuckles Net Worth?
The BevBuckle is now manufactured in California and sells for $24.95 per unit.
Coffman stated that sales kicked off after a BevBuckle video went viral.
There isn’t much recent information about the company’s net worth, but in line with annual sales and the exposure on the show, the estimated net worth is around the $1.5 million mark.
Shark Tank Appearance
Jay Kriner who is the founder of the BevBuckle appeared on season 4 episode 1 of Shark Tank.
Kriner started off by saying that the BevBuckle is the most interesting inventions to ever appear on a Shark Tank episode.
The entrepreneur then went on to say that it was difficult to keep track of drinks when you’re mingling with guests at a party and that’s how he came up with the concept for BevBuckle (a hands-free device that holds your drink). Jay went on to say that he’d only sold 4000 units in four years but made him $340,000 in sales.
Jay asked for a $50,000 investment with a 10% equity. Robert made the first offer but wanted 75% equity in the business. Barbara then made an offer but for a 51% stake in the company and Jay accepted!
Conclusion
After the Shark Tank show the BevBuckle company was bought by Sean Coffman and the product is a huge success. You can purchase your own BevBuckle off the company’s website or from Amazon. You can choose from a variety of buckle styles, so you have a unique buckle on your belt when you’re not using it to hold your beverage.
Would you buy the BevBuckle so you can live a hands-free lifestyle whenever you crack open a beer or a soda? Let us know in the comments below.
