Two Guys Bow Tie Shark Tank Net Worth 2023
The two men appeared on Shark Tank season 7 episode 3 seeking a $150K investment for a 10% stake in their company, which demonstrated a $1.5 million valuation.
Daymond offered them $150,000 for 17.5% stake plus 10% royalty, thus bringing the valuation down to an estimated $857,142.85.
After nearly two years in business, both men are still co-owners of the company and have grown it to include 50 employees and estimated annual revenues of around $3.5 million.
What is Two Guys Bow Tie?
Two Guys Bow Tie is a company that specializes in crafting bow ties and other men’s fashion accessories using exotic hardwoods such as African Zebrawood, Peruvian Walnut, South American Bocote, Canary, and more. Their bow ties come in a variety of designs, including plaid and polka dot, and each is finished with a fabric touch.
The company also offers skyline bow ties, which display their customers’ hometown pride. Two Guys Bow Tie was founded in Tulsa, Oklahoma in 2012 by designers Adam Teague and Tim Paslay to fulfill a need for men’s accessories. Their passion for working with their hands and producing excellent clothing led them to create handcrafted bow ties that blended old-school workmanship with modern elegance.
Their innovative approach established wood as a unique and distinct material in the fashion industry, and their products have gained recognition from tastemakers and a large market of stylish customers worldwide. Two Guys Bow Ties has already started a trend and gained international recognition from publications such as Esquire Magazine, GQ, Huffington Post, and others.
NBA players Mike Conley and SHAQ, as well as other celebrities, are among the many who wear Two Guys Bow Tie merchandise. Since their inception, the company has expanded its product line to include wood brimmed fedoras, wooden lapel pins, pocket squares, and beard care items. Customers can even create their own bow tie or lapel pin.
In summary, Two Guys Bow Tie is a company that produces high-quality men’s fashion accessories made from exotic hardwoods, offering a unique and innovative take on traditional bow ties. The company has gained international recognition and expanded its product line to include other wood-based items. The founders, Adam Teague and Tim Paslay, combine their passion for working with their hands and producing excellent clothing to create unique products that cater to a stylish clientele.
What happen to Two Guys Bow Tie at the Shark Tank Pitch?
Two entrepreneurs, Adam Teague and Tim Paslay, featured on Shark Tank season 7 episode 3, seeking a $150K investment for a 10% stake in their company, which valued it at $1.5 million.
They impressed Mr. Wonderful by presenting bespoke bow tie samples, with Lori having a Chicago skyline on hers, which attracted her. They shared that each bow tie cost $7.50 to create and sold for $45-$95, with online sales accounting for 75% of total sales.
Two Guys Bow Ties made $407K in sales last year and almost a million dollars this year, just two and a half years into operation.
After receiving endorsements from NBA players such as Shaq and Mike Conley, they had a significant boost in business. They excelled in bespoke ties and had the capacity to produce 1000 ties per week.
Mark, who did not have much knowledge about fashion, was out. Daymond offered $150,000 for a 20% stake, and Kevin offered a $150K loan for 10% with a 7.5% interest rate until his investment was returned. Lori liked the ties but believed Daymond and Kevin would be a better match, and Troy was willing to invest with Daymond if they reached 30%.
After negotiations, Daymond offered $150K for 20% with a 10% royalty, and the two guys offered $150K for 17.5% with a 10% royalty. The deal was sealed at $150K for 17.5% with a 10% royalty.
After the Shark Tank pitch, the duo’s revenue quadrupled, and they increased their employees. They also expanded their product line to include wood-brimmed fedoras and traditional cloth ties.
In 2016, Teague launched a new company called Plank and Mill, which produces salvaged wood peel & stick panels.
As of August 2021, both entrepreneurs are still co-owners of Two Guys Bow Ties, employing over 50 individuals, and having an annual revenue of around $3.5 million.
Two Guys Bow Tie Net Worth
The two men appeared on Shark Tank season 7 episode 3 in search of $150K for a 10% stake in their company. This demonstrates a $1.5 million value.
They accepted an offer from Daymond of $150,000 for 17.5% stake plus 10% royalty thus bringing valuation to be $857,142.85.
Two Guys Bow Tie Competitors
The Tie Bar, Ties Planet, Fossil and OTAA are some of the Two Guys Bow Tie Competitors.
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Two Guys Bow Tie FAQS
What is Two Guys Bow Tie?
Two Guys Bow Tie is an American-based clothing and accessory firm. They sell handcrafted bow ties that are made from exotic hardwoods like African Zebrawood, Peruvian Walnut, Spanish Canary and South American Bocote.
Who is the founder of Two Guys Bow Tie?
Two Guys Bow Ties was founded in Tulsa, Oklahoma in 2012 by designers Adam Teague and Tim Paslay.
How much were seeking in the Shark Tank?
They were seeking $150,000 for a 10% stake in the company.
Did they get the deal from the Sharks?
Daymond offered $150,000 investment for 17.5% stake in the Two Guys Bow Tie with a 10% royalty.
What is Two Guys Bow Tie business model?
The company sells handcrafted bow ties that are made from a variety of exotic hardwoods such as African Zebrawood, Peruvian Walnut, Canary and Spanish Bocote.
Do they ship internationally?
They certainly do! FedEx International is used to transport their items. Bow ties typically take one to two weeks to ship after order placement, depending on the country’s custom procedures.
International shipping is $20, with the exception of Russia, which costs $45. Please keep in mind that certain foreign shipments may be subject to customs or tariffs.
How are Two Guys Bow Ties made?
To enhance the longevity of a bow tie, the wood is shaped, sanded, and then polished with a fine finishing oil.
They laser engrave patterns into the wood for some of their bow ties.
To complete the item, they look for the ideal accenting cloth that would bring out the inherent grain and beauty of the wood.
Approximately how much does each bow tie weigh?
Each bow tie typically weights about 1.5oz.
What neck size do Two Guys Bow Ties fit?
The bow ties include an adjustable band with integrated bow-tie clasps that accommodate neck sizes ranging from 14″ to 21.5″.
What types of wood does Two Guys Bow Ties use?
White Oak, Walnut, Wenge, Padauk, Shedua, Bocote, Sapele, Lacewood, Zebrawood, Canary, Peruvian Walnut, and other exotic woods are available.
What fabrics are Two Guys Bow Ties centrepieces made of?
Their centrepieces are made of cotton, silk, and satin.
Does Two Guys Bow Ties make custom bow ties?
They absolutely do! They may choose their own wood and cloth, and they will construct it. They also give a special discount if you purchase them for a wedding!
Do the bowties come gift-wrapped?
They ship their one-of-a-kind bow ties in similarly one-of-a-kind branded kraft boxes.
Where can they make a press related request?
All press inquiries should be directed to [email protected]
Are Two Guys Bow Ties sold wholesale?
They are, indeed! For further information, please contact [email protected]
What is website of Two Guys Bow Ties?
Two Guys Bowtie Company website is www.woodenbowties.com.
What is The Two Guys Bow Tie phone number?
Two Guys Bow Tie phone number is (405) 612-0116.
