Beard King Shark Tank Net Worth 2023
Beard King’s net worth is above $1 million as of 2022. However, according to , Beard King’s net worth is about $1.7 million.
The owners of Beard King are still adding to their net worth and the company continues to operate and offer additional products.
What is Beard King? Who is the Founder of Beard King?
Beard King provides grooming products that help people achieve a polished and refined appearance that meets the standards of a professional barbershop.
The company was established in 2014 by Nicholas Galekovic, an entrepreneur, inventor, and business consultant who is passionate about solving problems through his business ventures.
The beard bib, a grooming garment that collects all beard trimmings, is the company’s flagship product. This allows for easy disposal of the trimmings and helps keep the area clean during grooming.
Nicholas Galekovic is an experienced entrepreneur who has established multiple successful businesses, and Beard King is one of his ventures. He has a particular interest in problem-solving, and his passion for the business is evident in the high-quality products offered.
Beard King’s headquarters are located in Deerfield Branch, Florida. It is worth noting that Nicholas Galekovic himself has been growing facial hair for quite some time.
Beard King Shark Tank Pitch
Nicholas and Alessia Galekovic pitched their business, Beard King, to the Sharks on Shark Tank in hopes of finding a business partner.
They offered $100,000 and a 20% equity stake in their company in exchange for investment.
Beard King is a bib that collects beard trimmings, and the couple has generated $140,000 in sales over eight months, with a high of $80,000 in one month. They needed capital to scale production, as the cost of producing each bib was $7, and they sold for $29.
The Sharks, including Mark Cuban, Robert Herjavec, Kevin O’ Leary, and Sacca, ultimately rejected the offer. However, Lori Greiner offered $100,000 for a controlling 51% ownership stake in the company.
The Galekovics counter-offered with $100,000 for a 45% stake, but they ultimately closed a deal with Greiner. While no transaction occurred, the appearance on Shark Tank contributed to significant growth for the company.
Beard King’s revenue increased from $700,000 in 2016 to an expected $1.7 million in 2017, and the company ended its partnership with Greiner due to their success.
The Galekovics attribute their success to effective online marketing through social media, video, and blogging, as well as their well-functioning website that supports their sales process.
As of 2021, the company continues to operate and offer additional beard-related products, with a net worth of $1.7 million.
Net worth of Beard King
In 2021, the estimated net worth of Beard King is $1.7 million.
Beard King FAQs
What is Beard King?
Beard King is a grooming and maintenance product that helps men achieves the perfect shaving look.
The company offer high-quality products including beard oil, trimmer, blades, brushes, etc. for all type of beard. It also offer non-surgical, no recovery time solution for hair transplant.
Beard King is a private company owned by Nicholas Galekovic.
Where is Headquarter?
Headquarter is in the US in Florida.
What was their offer on Shark Tank?
They offer $100,000 for 20% of the company.
Did they get an offer?
Yes, they did but they rejected it after making good sales after the Shark Tank show.
What was the offer?
Ultimately, the Beard King was sold for $100,000 for 45% equity shares.
Who invested on Shark Tank?
Lori Greiner offered $100,000 for 45% share of the company, but they never transact.
How much is the net worth?
Their net worth is $1.7 million in 2021.
Is still in business?
Yes, they are still in business and they are offering beard oil, wash, and other beard-related products at present with a net worth of $1.7 million in 2021.
How much they saved after Shark Tank?
After the episode aired on the Shark Tank show, their business grew dramatically. Their business earned $700,000 in 2016 and is on target to generate $1.7 million in 2017.
As a result, they terminated the arrangement with Lori Greiner following the phenomenal sales services.
How to get Beard King today?
Buy it from official website or any other trusted sources like amazon, eBay, etc. Check current deals and promotions at here.
Is Beard a private or a public company?
It’s a private company.
How do they grow their business?
The company has been sold from 20% to 45% share after the Shark Tank show.
It is a good strategy that can help grow the business because people now trust this product and it will be easy for them to sell their products to consumers around the world.
Why the name “Beard King”?
The name “Beard King” is because they want customer who have a beard to be always well maintained and groomed.
What does Beard King Manufacturer do to grow the sales?
The company is now working with thousands of retail customers around the world (United States, Canada, Europe, and Asia).
Beard King Review for men who want to buy beard oil online
Buy today from official website. To check current deals and promotions at BeardKing.com. Find out how to save money on the product& Here.
How Beard King works?
Buy beard oil online. It takes a few minutes to set up the process. Pay with a debit card for delivery.
What is Beard King Company offer?
The Beard King Company will become your personal assistant. He will take care of your beard so you don’t have to do it by yourself, and also help you with any fashion, fashion clothing or other fashion things you need.
Does Beard King work?
Provide best beard oil reviews from customers who have used this product from official website to find out how it work and check for more facts about it.
Is it safe?
The Beard King Company is now working with thousands of retail customers around the world It provides safety by using best practices for business. You can be 100% sure that everything will be done safely.
How they make money?
The company doesn’t charge a monthly subscription fee. However, you will have to pay for shipping and handling when you order beard oil online from their official website.
Is it safe to buy beard oil online?
Yes, safe because it is available for buying from official website where you can read all positive and negative reviews about Beard King Products.
Also find many customer reviews of the product on site.
What is their strategy?
The company is using social media and the internet to increase the number of customers. The use it for marketing purposes so they can get more people to their site.
How Beard King Company get customers?
The Beard King Company will get thousands of customers who buy different products from them to grow their business.
Nowadays, the internet is used for marketing purposes so they can get more people to their site because there are many online shops and companies selling the same product and items.
What are their strengths?
The company can be able to sell their products at an affordable price. They also have high-quality products for every customer, so every customer will be happy when they buy product from this company.
What are their weaknesses?
Some people don’t like to buy something online because they worry about the quality of the product they receive.
The company is working on improving its online presence in order to reduce the risk of consumers in buying products online service.