Mission Belt Shark Tank Update | What Happened to Mission Belt after the Shark Tank Pitch?
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 you with the right fit every time.
They also donate the earnings from each belt sold to fight world hunger and promote economic progress in impoverished nations.
Who is the Mission Belt founder?
Nate Holpzafel, the founder of Mission Belt, launched the company in 2012.
Nate Holzapfel was born in Provo, Utah to Richard N. Holzapfel and Jeni Broberg Holzapfel. Zachary Holzapfel, his younger brother and business partner, is the eldest of five children.
Nate’s family relocated to Irvine, California, when he was a newborn for his father’s education, and then to Woodland, Utah, when he was 13 years old.
Nate Holzapfel founded the Mission Belt firm in 2012 with the intention of doing two things: selling fashionable leather belts with no holes and assisting in the abolition of world hunger.
The belts are crafted of high-quality leather and, while being labelled as a “cheap belt,” have the look and feel of high-end belts that are many times the price.
The extra benefit of not being constrained like regular belts with holes distinguishes Mission Belt from the competitors.
Nathan is on a quest to help alleviate world hunger in addition to making high-quality leather belts.
One dollar from every sale is used to support micro-loans to individuals in need all around the globe through Kiva.com.
Rather than simply giving food, these micro-loans give education and tools to empower disadvantaged individuals with the knowledge and skills to create their own food.
What happen to Mission Belt at the Shark Tank Pitch?
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 valuation.
Nathan informed the Sharks that he wanted to reinvent the belt, so he devised a ratcheting system for belt buckles that eliminates the need for holes.
This ensures a flawless fit without the “in between space” that belts with holes have.
After completing his remarks, Holzapfel distributes belts for the Sharks to feel and inspect.
Robert inquires as to if he produces them himself. The Mission Belt brand hires a manufacturer to make the belts, but Holzapfel sells them himself.
At one site in particular, they sell around 250 belts every month, with each belt costing $35.
In three months, he has sold $39,000 in Mission Belts, and he believes that everyone he sees them to buys one.
Mark Cuban inquires as to the cost of producing one of these belts, which he discovers to be only $6.00 per unit.
He’s turning to the Sharks for distribution assistance.
Lori feels that a product like this is needed by males, but she is concerned that the absence of demonstration may stymie sales.
She decides not to invest since it would be extremely difficult for huge retailers like JC Penny’s to adequately sell the belt, which means it may get lost among all the other items.
Kevin loves the product, but believes distribution would be too difficult for him to manage, so he can’t invest in it.
Herjavec informs Holzapfel that he does not believe he has the necessary contacts to get this firm off the ground. He leaves.
Daymond likes the Mission Belt but believes that one product would not build a corporation, so he offers $50,000 for 40% ownership.
His aim is to take the belt and license it to another business for production, but he wants Holzapfel to continue as the head of sales, for which he would receive a good fee.
Mark advises Nathan to accept Daymond’s offer and then leaves.
Nathan bargains down the percentage to 37.5 percent and strikes a deal with Daymond.
Mission Belt after the Shark Tank Pitch
Shark Tank Season 5 Episode 507 includes an update section about Mission Belt.
Nathan felt privileged to work with Daymond. They sold $180,000 in belts the first night they aired, and over $1 million in the following month.
They expect to make more than $5 million in sales this year.
Nathan thinks appearing on Shark Tank was the finest thing he’s ever done for his business. Mission Belt currently employs 20 people and continues to promote Kiva.com.
Mission Belts now offers NHL, NBA, and College Licensed Mission Belts.
Nathan sponsored $1.5 million in loans through Kiva.com in 2017.
This company’s yearly revenue is $7 million as of July 2021.
In March 2019, talk show star Larry King obtained a $250,000 default judgment against Holzapfel, who was exploiting his picture in marketing materials without his permission.
Nathan used the clip from their “mock interview” as an endorsement.
Nathan was arrested and charged with two charges of fraud in October 2021. He allegedly duped a lady he was dating into handing over her home to a firm he owned.
Later, he sold the house without her knowing in order to pay off some obligations.
Later that month, in October 2021, a second victim came forward, accusing Nathan of scamming her of $50,000.
He also sold her car and AR 15 gun without her permission and pocketed the proceeds.
Following Holpzafel’s arrest in October 2021, Mission Belt released a statement distancing itself from Nate Holpzafel, stating that Nate had not been connected with the firm 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.
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.