BeatBox Beverages Shark Tank Update | BeatBox Beverages after the Shark Tank Pitch.
What is BeatBox Beverages?
BeatBox Beverages is a firm that offers punch made with wine. BeatBox Beverages are created entirely of orange wine and are available in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea.
The drink has a proof of 22 and an alcohol content of 11.1 percent by volume; it’s also low in calories (approximately 40 calories per serving).
Each BeatBox beverage package contains 5 litres, which equates to more than 30 5-ounce servings. At $19.99 per box, you get a lot for your money.
The team met at business school in Austin, TX, along with two more co-founders. Justin founded BeatBox Beverages as he want an alternative beverage to bring to parties and gatherings.
Rather than lugging a 30-pack of beer or a box of wine to a meeting, he came up with the idea of creating mixed drinks in a box.
The firm, created in 2012, attempted but failed to raise funds via an IndieGogo campaign in early 2013.
They raised $6000 toward a $10,000 fundraising goal. Unlike Kickstarter, which withholds cash until a funding goal is met or surpassed, IndieGoGo allows entrepreneurs to keep all monies raised, regardless of whether the goal is fulfilled.
What is Founder of BeatBox Beverages?
Justin Fenchel, Brad Schultz and Aimy Steadman.
What happen to BeatBox Beverages at the Shark Tank Pitch?
Justin, Brad, and Aimey join the Tank in Season 6 Episode 6 seeking $200K in exchange for 10% of the firm. This indicates a $2 million appraisal.
They set a costly bottle of wine on a table and declare it to be BORING!
Then they bring out the Beatbox Beverages and describe them as a “party in a box.” They provide samples to the Sharks; Lori and the other Sharks seem to enjoy them. Mr. Wonderful believes it tastes awful!
They say that they began by self-distributing and lacked the time necessary to advertise it. They currently contract with a co-packer.
The firm made $245K during a 14-month period, with more than half of that revenue coming from the most recent quarter.
They began with debts of $55,000 and $100,000. Justin says that they aim to expand through tastings, but Mark believes this is a poor method to do so. He desires a broader distribution.
Mr. Wonderful shows how viral drinks may kill it in some markets while destroying it in others. Kevin believes distribution will be challenging.
Barbara offers $400K in exchange for 20%.
Kevin offers $200K in exchange for 20% because he is worth twice as much as Barbara and is familiar with the area.
Mark does not view it as a wine product and believes they should expand more rapidly. He believes he is best qualified to rapidly build it and offers $600,000 for a 33 percent stake.
Justin replies with $1 million for 33%, and Mark agrees to negotiate.
BeatBox Beverages after the Shark Tank Pitch.
BeatBox leveraged Cuban’s investment to increase distribution (it is currently available in Kroger and Ralphs supermarket stores throughout the United States) and produce a single-serve boxed beverage.
The BeatBox MixTape is a resealable 500ml bottle that comes in two flavours: Fruit Punch and Blue Razzberry. It retails for less than $3.50.
BeatBox is now collaborating with celebrity entrepreneur Rob Dyrdek (star of MTV’s Ridiculousness) on a “massive packaging revamp” that will ensure BeatBox appeals to a broad market (21 and older).
Mark Cuban appeared on Dyrdek’s television show Ridiculousness lately to promote BeatBox.
Fast ahead to November 2021, and Beat Box is the category’s fastest rising brand. Future Proof Brands LLC has been renamed.
They’ve expanded their product portfolio to include Corkless, a canned single-serve wine; Brizzy, a seltzer cocktail; and Vizzy, a hard seltzer.
They are available at over 12,000 locations, including Kroger, Circle K, and Quik Trip.
The company generates $11.5 million in annual revenue.
BeatBox Beverages Net Worth
Justin, Brad, and Aimey join the Tank in Season 6 Episode 6 seeking $200K in exchange for 10% of the firm. This indicates a $2 million appraisal. They accepted an offer from Mark Cuban of $1 million for 33% thus valuing at $3,030,303.
BeatBox Beverages Competitors
BeatBox Beverages top competitors is Double Eagle Distributing.
BeatBox Beverages FAQS
What is BeatBox Beverages?
BeatBox Beverages is a punch made with wine. BeatBox Beverages are created entirely of orange wine and are available in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea (available in Texas only).
Who is the founder of BeatBox Beverages?
Justin Fenchel, Brad Schultz and Aimy Steadman.
How much were they asking in the Shark Tank?
They asked for $200K in exchange for 10% of the firm.
Did they get the deal?
Yes.
How much was the deal?
Mark Cuban offered them $1 million for 33%.
Is BeatBox Beverages still in business?
Yes.
How much were they raising?
$500K.
Where are the BeatBox Beverages sold?
They are sold at supermarkets, liquor stores, and convenience stores around the country.
Its current distribution is nearly half of the U.S., with Texas being its stronghold.
For instance, it is available in Lubbock, Texas; Tulsa, Oklahoma; as well as other cities in Texas like Amarillo and Corpus Christi.
Is the alcohol in BeatBox carbonated?
It is a non-carbonated beverage.
What type of alcohol is contained in a BeatBox beverage?
BeatBox is a “Party Punch” made with wine. They provide an 11.1 percent ABV Hard Punch and a 6% ABV Zero Sugar range of beverages.
Is it necessary to keep Beatboxes refrigerated?
BeatBox will remain unopened for 24 months at room temperature.
Additionally, Bag-In-Box products can be refrigerated for up to two months after opening. BeatBox is a low-calorie, low-sugar beverage with only 7g of sugar per serving.
Are BeatBox beverages tasty?
It is quite sweet and with a distinct berry taste. It wasn’t bad in and of itself, but as a cocktail, it is more akin to a blue energy drink with added alcohol.
What is the composition of the BeatBox beverage?
BeatBox Beverages are created entirely of orange wine and are available in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea.
The drink has a proof of 22 and an alcohol content of 11.1 percent by volume; it’s also low in calories (approximately 40 calories per serving).
How much did BeatBox sell for?
The BeatBox MixTape is a resealable 500ml package available in two flavours, Fruit Punch and Blue Razzberry, and sold for under $3.50
What is the flavour of BeatBox?
According to Fenchel, what sets BeatBox apart from other boxed wine firms is that BeatBox tastes more like a vodka mixed cocktail than wine.
Are BeatBox beverages sugary?
BeatBox Beverages are delectable wine-based cocktails delivered to their door.
Delicious – their two most popular flavours are the refreshing Blue Razzberry Lemonade and the delectable Blue Razzberry Lemonade cocktails.
Can BeatBox beverages be frozen?
“They recommend serving BeatBox over ice, perhaps with a splash of lemonade or sprite/soda,” CEO Justin Fenchel explained.
“Or freeze it to make ‘BeatBoxicles,’ an alcoholic slushie. They simply freeze the bag, cut a corner off, and squeeze. Their best-selling flavors are Blue Razzberry and Fruit Punch.
How much sugar is in a blue raspberry BeatBox?
Each recyclable and resealable package includes 130 calories & 8 grams of sugar per serving.
