Line Cutterz Net Worth
During his appearance on Shark Tank, Vance Zahorski revealed that the net worth of Line Cutterz was $363,636.36. This figure represented the total value of the assets that the company owned, minus any liabilities that it had.
At the time, Vance was seeking an investment of $120,000 for a 20% stake in the company. With this investment, he hoped to grow the business and increase its profitability.
Thanks to his successful pitch on Shark Tank, Vance was able to secure an investment from Daymond John. With Daymond’s help, Line Cutterz was able to expand its reach and grow its customer base. The company’s products are now sold in hundreds of stores across the United States, including Walmart.
Over the years, Line Cutterz has continued to innovate and expand its product line. In addition to its original ring cutter, the company now offers a range of other fishing accessories, including rods, reels, and clothing. As of May 2021, the company generates an estimated $1-$2 million in annual revenue.
What Line Cutterz and Who founded Line Cutterz?
Line Cutterz is a ring that simplifies and makes cutting fishing lines safer. The ring has a double-sided blade and an adjustable Velcro strap for cutting monofilament and a braided fishing line.
Additionally, Line Cutterz offers a hook puller ring that keeps hooks in place when tying fishing knots. The website also sells apparel, fish grips, lures, and fishing rods.
Vance Zahorski founded Line Cutterz after an incident in 2014 when he caught a shark that was caught in his fishing line.
While grappling with the catch, he dropped his knife into the sand, almost cutting off one of his toes. This close call inspired him to create the Line Cutterz ring, which allows for quick and safe cutting of fishing lines.
Line Cutterz Shark Tank pitch
After founding Line Cutterz in 2014, Vance Zahorski appeared on Shark Tank in hopes of securing investment in his fishing line-cutting ring. His rings, priced between $12 and $20, had already gained a large following in the fishing community, with $280,000 in sales made in just one year.
During his pitch, Vance offered a 20% stake in the company for $120,000. Despite concerns from the Sharks about competition and retail pricing, Vance accepted Daymond John’s offer of $150,000 for a 33% stake in the company.
Following the Shark Tank appearance, Line Cutterz saw a significant boost in sales and landed a spot in Walmart stores across the country. The product line also expanded to include new versions of the cutters, as well as fishing rods, reels, and clothing.
Vance even received a patent and launched the DBA Thread Cutterz for use in sewing, cross-stitching, knitting, and quilting. Today, Line Cutterz generates $1-$2 million in annual revenue and continues to grow.
Line Cutterz’s net worth
Line Cutterz’s net worth was $363,636.36 at the Shark tank.
Line Cutterz FAQS
Who Owns Line Cutterz?
Vance Zahorski is the owner of Line Cutterz
What is Line Cutterz?
Line Cutterz is a ring that makes it easy and safe to cut fishing line.
The ring, which costs $12, is equipped with a double-sided blade and adjustable Velcro strap, and can cut mono-filament and braided fishing line.
Did Line Cutterz Get a Deal on Shark Tank?
On Shark Tank Season 8 Episode 9, Vance Zahorski accepted an offer of $120,000 for 33%, from Daymond John.
What episode was Line Cutterz on Shark Tank?
On Shark Tank Season 8 Episode 9.
Is Line cutters still in business?
Yes, it has continued to grow since its appearance on the show.
Which year did Line Cutterz invented?
Line Cutterz was invented in 2014.
How much does a Line cutter cost?
A line cutter costs $12.
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How much money did Vance Zahorski make from Line Cutterz?
In his Shark Tank pitch, Vance Zahorski said that he has made $280,000 in sales in a single year.
What is Line Cutterz cost?
A Line Cutterz ring costs around $1.60 to make and is sold for $12 per unit.
Is The Line Cutterz Ring One Sized Fits All?
Yes. It has an adjustable velcro strap that will fit MOST finger sizes, from children to adults.
Does it have to be worn on a finger?
No, The Line Cutterz ring can be mounted to kayak seat posts, fishing rod handles, boat rails, tackle bags, personal flotation devices and tackle bags.
Is Line Cutterz dangerous?
No, The Line Cutterz ring blades are recessed which makes it the safest line cutting solution in the industry. No way to stab, poke or cut yourself like other knives and scissors.
Will Line Cutterz rust?
Even high-grade stainless steel will eventually oxidize or rust, however, the Line Cutterz ring maintains its cutting ability even when exposed to salt water for long periods of time since it doesn’t rely on moving parts.
What is it made out of?
It is made out of an ABS Plastic with a high quality German Stainless steel blade which has been treated with a titanium coating.
