Bear Minimum Net Worth
Bear Minimum, a camping cookware brand founded by Cory and Heidi Santiago, has a net worth of $800,000 USD as of 2022.
The company was featured on Shark Tank USA in October 2019 and sought a $100,000 investment in exchange for a 20% stake in the business. Jamie Siminoff offered to invest $100,000 for a quarter-share of the firm, reducing the company valuation to $400,000.
Bear Minimum produces the Family of Bear Bowls camping cookware mess kit set which includes 32oz, 64oz, and 128oz varieties. The products cost $6.90 to make and have an MSRP of $29.90. The company also developed the Mama Bear and Papa Bear pots and had yearly net revenue of $80,000 as of June 2021.
The latest update on Bear Minimum’s Facebook page is from 2021[4], suggesting that the company may still be operating.
However, it is difficult to say whether Bear Minimum is currently operating as its products are not available at REI or other retailers despite what is stated on its website. It is unclear if Bear Minimum ever closed its deal with Jamie Siminoff.
What is a Bear Bowl by Bear Minimum?
The Bear Bowl is a compact camping stove designed specifically for hikers and backpackers. It is produced by Bear Minimum, a company that specializes in creating camping gear.
These cooking pots are constructed from food-grade, flame-resistant plastic and are roughly the size of a wallet, making them lightweight and easy to carry.
The Bear Bowl is described by the company as the “world’s first pocket cook pot” and can hold up to 32 ounces of water, despite its small size. Additionally, the Bear Bowl comes in two larger sizes, and it can be used with most camp stoves or over a fire in emergency situations.
The Bear Bowl was invented by Cory Santiago, an experienced outdoorsman who wanted to create a compact camping pot that was both functional and stylish. Since its creation, the Bear Bowl has also been used for various purposes such as a portable dog dish or a container for keeping essential electronics, trail food, and flowers.
The Bear Bowl is the perfect companion for anyone who loves to cook while on the go. The name Bear Minimum was inspired by the practicality of the product, which provides the minimal essential function of all types of cookware.
Cory and Heidi Santiago, the husband and wife team who co-founded Bear Minimum, appeared on Shark Tank to seek funding for their innovative foldable and portable cooking pot.
Bear Minimum Shark Tank Pitch
Cory and Heidi Santiago, a married couple, appeared on Shark Tank to pitch their camping cookware product, the Bear Bowl, and their brand, Bear Minimum. They were seeking a $100,000 investment for a 20% stake in the business.
The Sharks were intrigued by their proposal, recognizing the potential for success in the camping gear industry since purchasers in this field are always seeking new experiences.
Jamie Siminoff offered $100,000 for a quarter-share of the company, which was a 5% increase over their initial offer on Shark Tank.
Daymond John also made a $100,000 offer for a 33% stake in the company. His interest in Bear Minimum was that it worked well with another sector with whom he does business, the “Prepper” community.
Bear Minimum ultimately accepted Jamie Siminoff’s offer. However, there is no concrete evidence that the deal was fulfilled.
Since the Shark Tank episode aired, Bear Minimum has released the Complete Camp Kitchen, a set of utensils and ten cooking implements that fold into a small pot.
Additionally, the company has developed two larger pots, the Mama Bear and the Papa Bear. As of June 2021, Bear Minimum’s yearly net revenue was $80,000.
Bear Minimum Net Worth
Bear Minimum couple was seeking a $100,000 investment in exchange for a 20% stake in the business. The valuation of Bear Minimum, according to them, was estimated at $500,000.
Jamie Siminoff offered to invest $100,000 for a quarter-share of the firm, reducing the company valuation to $400,000.
Bear Minimum FAQs
What exactly is the Bear Minimum?
Bear Minimum is a company that makes The Bear Bowl, a unique flame-resistant coated fiberglass cooking pot that folds flat and fits in your pocket and is the best-selling product of a creative camping cookware business.
Bear Bowls are designed for those campers and outdoor explorers who like to cook their meals on their campsites, no matter how isolated or wild they are.
It folds flat and can be used on your portable stoves for any off-grid adventure.
What was the response from the Shark Tank investors?
Sharks praised them for their unique cookware design and their hard work and battling spirit.
What is the best about this cookware folding?
It is all-in-one cookware that can be folded. It is exceptionally light, weighing only 7 ounces. All types of stoves and fuels are compatible.
What are the flaws in this bowl’s design?
The design of the bowl’s snap loop may be improved.
What is the Bear Bowls Camping Set’s Family?
Foldable Cooking Pots/Pans/Bowls, Backpacking Gear, Hiking Outdoors | Lightweight, Compact, Durable, Collapsible | Family Bear Bowl Camping Cookware Set (128, 64, and 32 ounces)
What is the Bear Bowl’s seating capacity?
The volume of this collapsible and folding pot is 32 ounces, which is adequate to feed a party of two to four persons.
What kind of fuel am I allowed to use?
You may use Iso-propane, solid fuel cubes, or even alcohol-based fuels in the bowl without fear of it being burnt or distorted.
What are Bear Minimum competitors?
BearMinimum is a one-of-a-kind camping product with few competitors.
What exactly is the Bear Minimum, and how does it work?
The Bear Minimum is a camping cook pot that folds flat. It becomes a square cooking pot when unfurled.
