Bev Buckle Shark Tank Update | What happened to Bev Buckle after the Shark Tank Pitch?
What is Bev Buckle?
The Bev Buckle is a belt accessory that allows you to keep a can or bottle of beer securely fastened to your belt.
It eliminates the need to put your drink down at a bar or other social setting and also allows you to use your hands freely.
The buckle features a small shelf and copper ring for holding your drink, and can fit any standard belt with a 1.5″ bracket.
It comes in various styles, and can hold any canned or bottled beverage. It’s perfect for outdoor events, concerts, festivals, fishing or sports games where you want to have a drink but also use your hands.
Who is Bev Buckle’s founder?
Jay Kriner, an entrepreneur, founded Bev Buckle in 2002.
He created the company because he had a habit of propping his drinks against his belt buckle while at bars. He sold Bev Buckles at beer festivals and on his website.
At the time of the recording, he had one license agreement for the product, which is also known as The Beer Buckle.
What happened to Bev Buckle at the Shark Tank Pitch?
In season 4 episode 1 of Shark Tank, Jay presents his product, the Bev Buckle, a belt buckle with a tray for holding drinks. He asks for $50,000 in exchange for 10% of his company, which he values at $500,000.
He pitches the product with grandiose statements and demonstrates its usefulness in various scenarios. The Sharks are initially amused but unimpressed with the product and Jay’s sales numbers.
However, when he reveals he has a patent, their interest is rekindled. Mark and Daymond eventually leave the deal, but Robert and Barbara make offers.
Robert offers $50,000 for 75% of the company and Barbara offers $50,000 for 51% ownership. Kevin offers a 12% royalty on each unit sold.
After considering his options, Jay chooses to accept Barbara’s offer. Kevin warns him that giving up control of his company is a mistake.
Bev Buckle after the Shark Tank Pitch
Jay and Barbara’s business transaction did not go through, but Barbara offered her support for a future partnership.
She even offered to help Jay with funding for a large order if he needed it. However, Jay was able to sell a significant amount of Bev Buckles and is now in talks with multiple retailers.
The company also addressed previous issues with overseas production by moving the manufacturing of the Bev Buckle to the United States. As of July 2021, the business is doing well with an annual income of $1 million.
Bev Buckle Net Worth
Bev Buckle Net Worth is estimated to be $2.25 million.
Bev Buckle Competitors
There is no competitors identified for Bev Buckle.
Bev Buckle FAQS
What exactly is a Bev Buckle?
It’s the world’s first retractable belt buckle that holds their drink, freeing up their hands to play the most epic game of ping pong, dance the night away at the next concert with backup drinks in tow, or anything else they have in mind.
Who is the founder of Bev Buckle?
Jay Kriner is the brainchild of Bev Buckle. He established the company in 2002.
Does Bev Buckle work?
It works if they use it right. It’s a great way to drink beer at a bar or festival and have their hands free to do other things while their drink is within easy reach.
How much was he seeking in the Shark Tank?
He sought $50,000 for 10% of the company.
Did he get the deal from the Sharks?
Yes, he got a deal from Barbara Corcoran for $50,000 for 51%ownership.
Where can they buy a Bev Buckle?
They are available online at BevBuckle.com and on amazon.
How much are Bev Buckles selling for?
The belt buckle is retail for $35.
What size are the buckles?
When closed, it is 4.5 inches wide by 3.5 inches tall by 1 inch deep. The middle ring that holds their beverage is approximately 2.7 inches wide and can accommodate most regular sized bottles or cans.
What are Bev Buckles made of?
Each buckle is constructed of zinc alloy and is lead-free!
Where are Bev Buckles manufactured?
Bev Buckles are handmade in the United States.
What belt size does the Bev Buckle fit?
Bev Buckles are designed to suit any 1 12″ belt.
How do they wear their Bev Buckle?
They may wear their Bev Buckle with either a buckle-less or a buckled belt.
Can they get their own buckle design?
They do take special orders! They are always interested in hearing what their Bev Fans have in mind!
To make a bespoke Bev Buckle, they construct a one-of-a-kind casting mold based on their design. A $350 one-time setup fee and a minimum order of 500 Bev Buckles are required.
Can they place their order over the phone?
They urge people to use their website to place their order.
Can they only buy Bev Buckles online?
That is right; buckles are now only accessible online.
What types of payment are accepted?
They take Visa, MasterCard, American Express, and Discover, as well as other major credit cards.
Where can they find their order number?
They send an order confirmation email to the email address you supplied. Their order and receipt number are included in this email.
What countries do they ship to?
They take orders and ship gratis inside the United States. They also ship worldwide for a charge.