Beloved Shirts Shark Tank Net Worth 2023
Beloved Shirts is a clothing brand that appeared on Shark Tank in March 2016. During the pitch, founder Jeremiah Robison requested $175,000 in exchange for a 5% ownership stake in Beloved Shirts, valuing the company at $3.5 million.
However, he left the show without any deal from the Sharks. Despite this setback, Beloved Shirts has continued to grow and expand its business. As of January 2023, the company’s net worth is estimated to be around $4 million. The brand has gained popularity due to its quirky and fun designs on apparel.
Beloved Shirts uses sublimation printing to create their products, which are made in the USA using dye-sublimation technology. All of their products are “made to order,” so they do not have any inventory to worry about. However, it takes 30 days from ordering to delivery which can be an issue.
Jeremiah Robison’s appearance on Shark Tank has helped Beloved Shirts gain more exposure and grow its business. The company’s annual revenue is now estimated at $4 million as of January 2023.
What Is Beloved Shirts?
Beloved Shirts is a company that uses a cutting-edge printing technique to create playful and quirky clothing with unique designs. Their printing method fully envelops the design around the apparel, giving it a 360-degree view that turns the fabric into a canvas for artists.
Initially, Beloved Shirts started as a clothing line, but they have now diversified their product range to include accessories like hoodies, onesies, trousers, socks, caps, and more.
Their collection showcases designs such as the gushing unicorn, the big hamburger, and Kin Jong Un prints. Customers can also create their own designs. Beloved Shirts’ outfits are conversation starters and have gained popularity among celebrities like Katie Perry, who is often spotted wearing her pizza onesie.
Beloved Shirts products can be found on Amazon, and many are eligible for Prime delivery. All of their items are made in the United States using dye-sublimation printers, which can print any image or design on a variety of apparel items.
Jeremiah Robison, the founder of Beloved Shirts, hails from Provo, Utah. In 2012, while playing indoor soccer, he had the idea of featuring realistic images of food on his team’s shirts, which he thought would be amusing and distracting to their opponents. This led to the creation of Beloved Shirts using the sublimation printing method.
What Happened To Beloved Shirts At The Shark Tank Pitch?
During Season 7 Episode 21 of Shark Tank, Jeremiah pitched his company and requested $175,000 in exchange for a 5% stake, which valued his company at $3.5 million. He impressed the Sharks by handing out personalized samples of his work, including products featuring their faces.
Jeremiah’s profit margin was between 58 and 60 percent, and he had sold $2.3 million worth of merchandise in two and a half years.
However, the turnaround time for orders was 30 days, and he had 22,000 SKUs on his website, which Lori Greiner thought was too many. She suggested that he reduce the number of SKUs to his top ten products and warehouse them for immediate delivery.
Mark Cuban recognized that Jeremiah’s business strategy needed refinement before he could receive more investment, and Robert Herjavec withdrew due to a conflict of interest. Kevin O’Leary was dissatisfied with the company’s valuation, and Daymond John refrained from investing at less than 17 percent.
However, Daymond made an offer of $175,000 for a 25% stake, which Jeremiah declined. After some negotiation, Daymond agreed to reduce the stake to 22.5%, but Jeremiah still refused the offer.
Beloved Shirts After The Shark Tank Pitch
Although Jeremiah didn’t win anything from the tank, his participation on the show has brought about noteworthy advancements for the company within six months after the episode aired.
Jeremiah was able to reduce the number of unique products that the firm supplies and cut down on fixed expenses.
One of the most significant improvements in customer satisfaction has been the decrease in the time it takes for orders to be processed. Beloved Shirts is now able to fulfill made-to-order items in just five days, thanks to innovations in their production process.
As of April 2021, the company continues to thrive, generating an annual revenue of $4 million.
Beloved Shirts Net Worth
Jeremiah appears on Shark Tank Season 7 Episode 21 requesting $175,000 in exchange for a 5% stake in his firm. This translates to a $3.5 million valuation.
Beloved Shirts Competitors
Beloved Shirts faces stiff competition in its market space, this includes; H&M and Forever 21.
Beloved Shirts FAQS
What is Beloved Shirts?
Beloved Shirts is a manufacturing firm that creates funny tees and garments based on user submitted pictures.
Who is the founder of Beloved Shirts?
Jeremiah Robison is the owner as well as a designer of Beloved Shirts.
How much was he seeking in the Shark Tank?
Jeremiah was seeking $175,000 in exchange for a 5% stake.
Did he get the deal from the Sharks?
Jeremiah did not get a deal from the Sharks.
Is Beloved Shirts still in business?
The firm is still running strong in April 2021, with yearly revenue of $4 million.
Where are Beloved Shirts made?
Everything is currently made in the United States. However, if orders increase in size, Jeremiah might have to look for another location to produce his goods.
What episode was Beloved Shirts featured on Shark Tank?
Beloved Shirts was on season 7 Episode 21 of Shark Tank.
Where can they buy?
They can purchase on the official Beloved Shirts website or on amazon.
Is there free shipping?
They absolutely do! They provide free international delivery, which might take 10-20 business days plus manufacture time.
What payment options do they accept?
Credit cards such as Visa, MasterCard, American Express, and Discover Card are presently accepted.
They accept Apple Pay, PayPal, and Amazon Payments as well.
At this moment, they do not take personal or electronic checks, Bitcoin, money orders, or wire transfers.
How do they cancel their order?
They start processing orders right away. If they need to cancel their order, they should email [email protected]belovedshirts.com within 1 hour of placing it so that they may try to cancel it for them.
They will do everything possible to respect their cancellation request! If their order has already started the manufacturing and/or shipping procedures, they will be unable to honour their cancellation request.
What sizes are available?
The majority of their clothing is available in sizes ranging from XS to 3XL.
Do their garments shrink after they’ve been washed?
To assist them avoid ruining their things, all of their outfits come with detailed wash/care instructions.
For the best results, please refer to the care label inside their clothes. Although some clothes are cotton/poly mixes, they mostly employ polyester since it is the ideal material for sublimation printing.
What exactly does it imply when a product is described as “handmade”?
This implies that one of their team members will print, cut, and sew their clothing for them. True workmanship and unrivalled quality delivered on time.
What exactly is a “crafting period”?
Custom goods, on the other hand, need a 10-20 business day creating period owing to their one-of-a-kind character.
What is the distinction between “Ready-to-Ship” and “Made-to-Order” products?
Garments marked “Ready-to-Ship” ship immediately from their overseas manufacturer in 1-2 business days from the time the purchase is placed.
“Manufactured-to-Order” garments are made after an order is placed and dispatched from their production location.
These products must be dispatched within 10 business days (custom items take 10-20 business days).
Did the business generate revenue before filming?
They had already generated $2.3 million in merchandise in the two and a half years he has been in company.
What was the valuation before Shark Tank?
The business was valued at $3.5million at the Shark Tank.
How does Beloved Shirts create their images?
They take images submitted by customers and turn them into something that they could wear and provide to other customers.
What is net worth of Jeremiah Robison?
Jeremiah Robison’s net worth is unavailable.
