Muff Waders Shark Tank Net Worth 2023
The company valuation at the time of the pitch in 2020 was $125,000, however due to its continuous operations since then, the net worth of Muff Waders has grown significantly and is estimated to be around $500,000 by 2022.
The company’s success can be attributed to its continuing efforts that have enabled it to secure additional sources of income and retain its customers resulting in an increase in value.
What is Muff Waders?
Muff Waders is a company that designs bib overalls for men who enjoy drinking, which feature a special insulated cooling pouch built into the front pocket to keep beverages cool.
The pants also have insulated side pockets for storing additional bottles, and can hold up to six cans in the front pocket. The outfit includes a detachable Muff Mug, which attaches to the wearer’s front via a magnet that doubles as a bottle opener. There is also a storage pocket.
The target market for Muff Waders is men who work hard and enjoy a refreshing beer at the end of a long day. The overalls come in two colors: black and brown.
Taylor (Earl) Nees and Garret Lamp are the founders of Muff Waders. Garret is an Iowa State University advertising graduate with experience in video production. Taylor is a down-to-earth country boy who has lived his entire life in Holstein, Iowa.
He previously worked as an electrician for Holstein Electric, a company owned by Garret’s mother and stepfather, who were his classmates in high school.
Who is the founder of Muff Waders?
Taylor Nees and Garret Lamp founded Muff Waders after Taylor came up with the idea while watching a high school football game in late 2016. While joking with friends, they discussed the concept of overalls with a built-in cooler for storing chilled six-packs of beer, ideal for sneaking into the stadium. Later that evening, Taylor made a prototype sketch on a napkin while at a pub.
Although Taylor launched a Kickstarter campaign to raise $135,000, he fell short of his goal. However, he continued working on the prototype, and his high school classmate Garret joined the project. Eventually, in September 2018, they were both happy with the final product.
The next step was finding a manufacturer, and Taylor reached out to over 80 companies before finally being accepted by one. Muff Waders was officially in business, and the product gained attention from a popular video on Facebook.
The Kickstarter campaign was eventually funded in October 2020, but production was delayed due to difficulties caused by the Covid-19 pandemic. Distribution of the product was postponed until the spring of 2021.
Muff Waders are available in brown or black and are made of high-quality cloth similar to Carhartt coats. A pair of waders costs $85, while the suspenders cost $50 and are available in blue or black.
What Happened to Muff Waders at Shark Tank pitch?
In Season 12, Episode 16 of Shark Tank, Taylor Ness and Garrett Lamp presented their product, Muff Waders, which is a line of overalls designed for men who enjoy drinking.
They were seeking a Shark investor to help with inventory and distribution, and they offered a 25% stake in their company for $25,000, which valued their company at $125,000.
During their pitch, Taylor and Garrett explained that the word “Muff” stands for “manly” and “tuff.” They also mentioned that they needed assistance from a Shark for supply chain logistics. Each unit of Muff Waders costs $35 to produce and sells for $85, resulting in total sales of $54,000.
Kevin, Mark, Robert, and Lori Greiner all declined to invest in Muff Waders. Daymond John showed interest in the product but ultimately decided not to invest. Despite entertaining the Sharks with their presentation, Taylor and Garrett were unable to secure a deal with any of the Sharks.
What Happened to Muff Waders after Shark Tank?
Although the pitch didn’t secure the deal, the first rerun of the episode aired just four months after its initial broadcast. The company is still operating, but they haven’t updated their Facebook page since a few days after the show aired.
Prior to the show, the company’s products were listed as available on Amazon, but now they’re labeled as “unavailable,” indicating that they likely made some sales.
In April 2021, Stevia Nutra Corp., a publicly traded company that produces hemp apparel, announced the acquisition of Muff Waders for an undisclosed amount. With the support of a publicly traded company, Muff Waders will have the resources to promote its product effectively.
In fact, the company earned over a quarter-million dollars in sales as a result of its appearance on the show. To celebrate the Fourth of July in 2021, Muff Waders released a special “Stars and Stripes” version of their product called Muff Spenders.
Net Worth of Muff Waders
The company valuation was $125,000 during and after the pitch. Since then the company are still operating and hence the net worth might have increased.
Muff Waders FAQs
What is Muff Waders?
Muff Waders is a brand of bib overalls that also comes with an insulated, detachable beer mug and a storage pocket (the “Muff” part of the name).
Who is the owner?
Taylor Nees and Garret Lamp created the idea. Garret is an Iowa State University alumnus with experience in video production. Taylor used to work as an electrician at a firm owned by Garret’s mother and stepfather.
What were the stats displayed on Shark Tank?
Taylor asked for $25,000 for 20% of his company, which has an estimated value of $125,000.
Did they have the deal?
No, they did not have the deal.
Is Muff Waders still in business?
Muff Waders is still in business as of December 2021.
Are there any discounts?
No discount is offered by the company.
What type of reviews does Muff Waders have?
There are currently no reviews for this product.
What is the return policy?
No returns, as the company is a wholesaler.
What is the future of Muff Waders?
Stevia Nutra Corp. (STNT) has stated that they will continue manufacturing Muff Waders as part of their line of hemp-based clothing.
Muff Waders have taken their shirts off and put their money where their mouth is, entering Shark Tank on an episode that aired on October 22, 2018.
How long will it take to ship?
Orders are currently shipping within 7 days after being placed online.
How much are they worth today?
They were worth $125,000 during their pitch and might be currently as well.
Does Muff Waders work?
Yes, it works. It depends on the size of the stomach and how much beer they can handle, however.
What’s the point of Muff Waders?
The point is to provide the wearer with a cold beer no matter where he might be. It also provides some safety for him.
The idea behind its creation is that the average Joe in America will be safer if he has a cold beverage on hand at any time, rather than having to leave his car and get into his house (assuming he has one) or head back to his truck to retrieve one.
How much alcohol can Muff Waders hold?
It can hold up to six cans in the front pouch.
Why are they known as Muff Waders?
“Muff Waders denotes toughness and manliness. Muff is a combination of manly and rough “Buddy, the co-creator, elaborated. They’re also the only overalls that can be worn for both work and leisure, with various pockets for beer or tools.
What exactly is a muff waiter?
Muff Waders are essentially a pair of heavy-duty bib overalls with an insulated cooler bag sewed into the chest region, large enough to hold a six-pack of beer, soda, water, or energy drink. The overalls had been created and promoted on a Facebook page by September of 2019.
Where do I get Muff Waders?
Customers can purchase this product on Amazon.
Why are Muff Waders only available from Bootleg Company?
Bootleg Company is a small, independent distributor that has been in the business of distributing products for many years and in some cases, before the item was even available to purchase.
What are the payment methods accepted by Muff Waders?
Customers can pay for this product online via Amazon.com or by contacting the distributor directly.
Are there professional reviews available?
There are no professional reviews available at this time.
Are they durable?
Yes, they are durable. This product will last as long as the beer contained inside it does.
What is the net worth of Taylor Nees?
The net worth of Taylor Nees is unknown.
What is the net worth of Garret Lamp?
The net worth of Garret Lamp is unknown.