Voyage Air Guitar Shark Tank Net Worth 2023
Voyage Air Guitar has come a long way since it appeared on Shark Tank and was valued at $10 million. They are still in operation as of 2022, with a net worth of $1 million.
The guitar can be found in more than 200 retail locations worldwide, as well as being sold online through the company’s website. As for their time on the show, Kevin O’Leary eventually decided to join forces with Voyage Air Guitar to secure an agreement with Fender.
This is an incredible accomplishment for Voyage Air Guitar considering where they started from in 2012; it shows that the team is highly dedicated to success and will always strive towards furthering their mission.
What is Voyage Air Guitar?
Voyage Air Guitars are standard-sized guitars that can be folded in half, enabling you to carry them conveniently in a backpack-style bag while keeping them safe.
This unique guitar hinge is a well-crafted and patented design that is unmatched worldwide. Unlike other guitars, it does not contain any nanotubes or microchips.
When folded and unfolded, it maintains its tune, making it an ideal option for musicians on the move.
Who are the Voyage Air Guitars founders?
Jeff Cohen and his son Josh collaborated with Adrian Bagale and Harvey Leach to design a guitar that is not only of high quality but also easily accessible and portable, catering to the fast-paced lifestyle of many artists.
The guitar is equipped with a well-built hinge that allows it to bend on its neck, the strings can be tucked into the hole, and it can be stowed away in a convenient travel case.
The two innovators and entrepreneurs have partnered with foreign distributors to significantly increase their profit and sales. They have also joined forces with Fender to create portable Fender guitars.
Initially, the proprietors operated locally and produced as many guitars as they could, selling 800 units for $500 each and generating a total of $400,000 in sales. However, due to high demand and popularity, they were unable to keep up with production.
To expand their business and meet demand, they needed additional funding to develop their inventory. This led them to the life-changing decision to appear on Shark Tank.
What happen to Voyage Air Guitar at the Shark Tank Pitch?
During Season 1, Episode 3 of Shark Tank, Mr. Jeff Cohen and Josh Cohen sought $500,000 in exchange for a 5% stake in their company, Voyage, which valued the company at $10 million. However, the Sharks voiced their objection to the valuation when Josh played a few chords on their guitar.
To prove the uniqueness of their product, the Cohens demonstrated how their guitars could fold in half. Mr. Wonderful tested if it would stay in tune after folding it up and placing it in its case, which it did.
Although the Cohens indicated they made $400,000 by selling 800 devices at around $500 each, their company remained cash flow negative.
The Sharks disputed Jeff’s value, but he stood by it. Robert suggested that guitar manufacturers license the patented hinge and wanted to acquire the patent rights first, while Jeff preferred to establish commercial adoption first.
Jeff later announced that he would sell 49 percent of the patent for $1 million. Mr. Wonderful made a $500,000 offer for 51% ownership of the company and demonstrated his licensing expertise to the Cohens. However, Jeff refused to give up 51% ownership, and Robert walked away.
Despite the rejection, Mr. Wonderful continued to push hard, and Kevin Harrington offered to participate in the transaction. Barbara and Daymond went out, and Jeff offered $500,000 for a 50-50 split, which was also rejected. This caused Mr. Wonderful to exclaim, “You’re dead to me.”
Voyage Air Guitar after the Shark Tank Pitch
In season 2 episode 208, the firm received an update stating that they had opened 200 retail outlets nationwide. In season 3, Jeff and Josh returned to film another update, and it was revealed that they were not dead to Mr. Wonderful after all.
However, the update was never aired because the producers felt that the details of the agreement were too complex to be shown on television.
In a subsequent update in episode 408 of season 4, Mr. Wonderful announced that he had signed a licensing agreement with Fender, one of the top guitar manufacturers in the world.
Despite the initial setback, the firm is still operational and as of July 2021, it generates $1 million in annual sales.
Voyage Air Guitar Net Worth
The business is now estimated to be worth around $10 million.
Voyage Air Guitar Competitor
Catalinbread is the Voyage Air Guitar Competitor’s main competitor.
Voyage Air Guitar FAQS
What is Voyage Air Guitar?
Voyage Air Guitars are full-size guitars with the ability to fold in half. This function allows you to travel with your guitar in a backpack-style bag while ensuring its protection.
It is a well-designed, factory-made, and patented guitar hinge. There are no nanotubes or microchips in it. It can hold the tune when folded and then unfolded.
Who is the founder of Voyage Air Guitar?
Jeff Cohen and his son Josh designed the guitar. They collaborated with Adrian Bagale and Harvey Leach, who assisted them in refining the folding guitar technology.
How much were they seeking in the Shark Tank?
Voyage Air Guitar asked for $500,000 for 5% of the company.
How much did they get?
Mr. Wonderful offered $500,000 for 51% of the company but Jeff rejected and they left the Tank without a deal.
Where are voyage air guitars manufactured?
The guitars are made in China to Voyage-specifications, Air’s with final inspection and setup taking place at the company’s headquarters in Colfax, California, where the innovative hinge unit is also made.
Is Voyage Air Guitar still in operation?
Wonderful negotiated a licensing agreement for Voyage Air Guitar with Fender, one of the world’s top guitar manufacturers.
The firm is still in operation and generates $1 million in yearly sales as of July 2021.
What happen to the strings when the guitar is folded?
The string life of a Voyage Air Guitar is not decreased when the instrument is folded since the strings tuck into the sound hole.
The top is in perfect condition with no damage or scratches.
What kind of strings does Voyage Air Guitar use?
Their instruments come equipped with Light Gauge Strings, but customers are free to use any strings they like; nevertheless, for the greatest experience, they recommend replacing with OEM Voyage Air strings.
Can a Voyage Air Guitar be set up to their preference?
A Voyage Air Guitar, like any other acoustic instrument, may be easily customized to the customer’s playing style, string choices, and local environment.
On the headstock, the truss rod is hidden behind a plastic cover plate.
How much does Voyage Air Guitar costs?
The Voyage Air Guitar’s retail price is $500.
What is their warranty?
A Voyage Air Guitar comes with a one-year guarantee on the instrument and a lifetime warranty on the hinge mechanism.
How can they contact Voyage Air Guitar?
They can contact them through Tel: 1.925.290.8878 or email them at [email protected] or follow them on Facebook.
Where do they ship?
They ship anywhere in the world.
What payment options is available?
They take Visa, MasterCard, American Express, Discover, and PayPal payments from anywhere in the world over our secure server.
What is net worth of Jeff Cohen?
Jeff Cohen’s net worth is unavailable.
What are the strengths of Voyage Air Guitar?
The strengths of Voyage Air Guitar are that they are affordable while still offering choices of top quality. They are easy to travel with.
