Mission Belt Shark Tank Net Worth 2023
Natel, a company seeking a $50,000 investment for a 20% stake, appeared on episode 22 of season 4 of Shark Tank. This would value the company at $250,000.
Eventually, Natel accepted Daymond’s offer of $50,000 for a 37.5% stake, which values the company at $133,333.33.
Since then, the company has been experiencing steady growth, which has led to an increase in its net worth.
What is Mission Belt? Who is the Mission Belt founder?
Mission Belt is a company that produces trendy ratchet belts for men, women, and kids without any holes. These belts are more durable and comfortable than conventional belts, ensuring a perfect fit every time.
In addition, Mission Belt donates a portion of each belt sold to combat world hunger and support economic development in impoverished nations.
The company was founded in 2012 by Nate Holzapfel, who was born in Provo, Utah to Richard N. Holzapfel and Jeni Broberg Holzapfel.
Nate’s younger brother and business partner, Zachary Holzapfel, is the eldest of five children. Nate’s family moved to Irvine, California, when he was a baby for his father’s education and then to Woodland, Utah, when he was 13.
The Mission Belt company was established by Nate Holzapfel in 2012 with two objectives: to sell stylish leather belts without holes and to help end world hunger.
These belts are made of high-quality leather and have the appearance and feel of high-end belts that are many times more expensive.
The added advantage of not being restricted like regular belts with holes sets Mission Belt apart from its competitors. Nathan is committed to fighting world hunger and producing high-quality leather belts.
One dollar from every sale is used to provide micro-loans to people in need all around the world via Kiva.com. These micro-loans provide education and tools to empower disadvantaged individuals with the knowledge and skills to grow their own food rather than just giving them food.
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Mission Belt Shark Tank Pitch
Nathan pitched his company, Natel, on Shark Tank season 4 episode 22, seeking a $50,000 investment for a 20% stake in the company, valuing it at $250,000.
His product was a reinvented belt with a ratcheting system that eliminated the need for holes, providing a better fit without any “in between space.”
During the pitch, Robert asked if Nathan produced the belts himself, but Nathan explained that Natel hired a manufacturer to make the belts, and he sold them himself.
At one site, Nathan sold around 250 belts every month for $35 each, totaling $39,000 in sales over three months. Mark inquired about the cost of producing the belts, which turned out to be only $6 per unit.
While some Sharks, like Lori and Kevin, were hesitant to invest due to concerns about distribution and scalability,
Daymond offered $50,000 for 40% ownership with the aim of licensing the belt to another business for production. They eventually settled on a 37.5% stake for Daymond.
After appearing on Shark Tank, Nathan and Daymond sold $180,000 in belts the first night and over $1 million in the following month.
Natel has since expanded its product line to include NHL, NBA, and College Licensed Mission Belts and sponsored $1.5 million in loans through Kiva.com in 2017. As of July 2021, the company’s yearly revenue was $7 million.
However, in March 2019, Nathan faced a $250,000 default judgment from talk show host Larry King for using his image in marketing materials without permission.
More recently, in October 2021, Nathan was arrested and charged with two counts of fraud for allegedly deceiving two women, one of whom he dated, into handing over their property and assets to pay off debts without their knowledge or consent.
Mission Belt has since released a statement distancing itself from Nathan, stating that he has not been associated with the company for more than seven years.
Mission Belt Net Worth
Natel appears on Shark Tank season 4 episode 22 in search of a $50,000 investment in exchange for a 20% stake in the company. This represents a $250,000 value.
He accepted an offer from Daymond of $50,000 for 37.5% thus valuing at $133,333.33.
The current net worth has increased since the company has been growing steadily.
Mission Belt Competitors
Anson Belt and BeltCraft are Mission Belt Competitors.
Mission Belt FAQS
What is Mission Belt?
Mission Belt is a company that creates fashionable, no-holes ratchet belts for men, women, and children that last longer and are more comfortable than standard belts, providing them with the right fit every time.
Who is the founder of Mission Belt?
Nate Holpzafel, the founder of Mission Belt, launched the company in 2012
How much was he seeking in the Shark Tank?
He was seeking $50,000 for 20% of the company.
Did he get a deal from the Shark Tank?
He did. He got the deal of $50,000 for 37.5% of the investment in exchange for 20% equity stake from Daymond John.
What is Mission Belt’s mission?
To create fashionable, no-holes ratchet belts for men, women and children that last longer and are more comfortable than standard belts.
Mission Belt gives $1 for every belt sold to the Kiva Lender Fund, which offers microloans to businesses mostly in underdeveloped nations.
How long has Mission Belt been in the business?
Mission Belt has been around since 2012.
What episode of Shark Tank featured Mission belt?
Mission Belt was featured on Shark Tank Season 4 Episode 22.
Is there a warranty on the mission belt?
Every Mission Belt is backed by a one-year manufacturer’s warranty.
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Are there any bigger sizes available?
Yes, a size “Custom” can suit a waist up to 56″.
Is The Mission Belt made of real leather?
Yes! It’s not only authentic leather; it’s also very fine leather. The majority of leather is coarse and rough, while theirs is smooth and strong.
How do they unbuckle a mission belt?
To remove the belt, just press the little metal lever on the bottom of the buckle, and the belt will slide out.
Do ratchet belts last?
Because there is less stress, ratchet belts are more durable than regular belts.
What is net worth of Nate Holpzafel?
Nate Holpzafel has an estimated net worth of $5 million as of 2020.
Where is Mission Belt located?
Mission Belt is located in Orem, Utah United States.
Is Mission belt still in business?
Nathan thinks appearing on Shark Tank was the finest thing he’s ever done for his business.
Mission Belt has employs 20 people and continues to promote Kiva.com. Mission Belts now offers NHL, NBA, and College Licensed Mission Belts.
