Wallet Buckle Shark Tank Net Worth
The net worth of Wallet Buckle can be estimated by the valuation presented during their pitch on Shark Tank. Trevor and Justin proposed to give up 10% of their company in exchange for $500,000, which implies a valuation of $5 million.
This valuation indicates the perceived value of the business, taking into account factors such as revenue, the potential for growth, intellectual property, and other assets.
However, it is important to note that net worth is not the same as valuation, as it takes into account liabilities and debts, which can affect the overall financial health of a company.
The current net worth of Wallet Buckle is not publicly available, but it can be assumed to have increased since its inception due to successful marketing strategies, licensing agreements, and increased sales.
What is Wallet Buckle and Who Founded Wallet Buckle?
Wallet Buckle is a belt buckle that can also function as a wallet, holding up to five credit or identification cards while concealing the wallet. It was created by Trevor and Justin Johnston, who were already successful entrepreneurs before founding Wallet Buckle.
Trevor and Justin Johnston are the founders of Wallet Buckle.
Trevor was previously the Vice President of Sales and Business Development at Twilight Solutions Inc., while Justin was the President. The brothers continue to run Wallet Buckle.
The idea for Wallet Buckle came about when Trevor frequently lost his wallet, and the device was created to help people like him who had a tendency to misplace their wallets.
The Johnston brothers sought patent protection for their unique product. It was designed for people who prefer to travel light and find traditional wallets and handbags outdated.
To raise funds for the business, the brothers used a Kickstarter campaign that raised around $44,000 to improve manufacturing. Despite having an excellent product, the brothers faced financial constraints when it came to advertising.
They turned to Instagram to promote the product, where it gained popularity and led to great sales. The product was sold on their website and marketed at various events.
Wallet Buckle Shark Tank Pitch
In June 2016, Trevor and Justin established their company with a prosperous Kickstarter campaign that raised $44,611. They used Instagram to expand the business and now have over 27,000 followers.
During their Shark Tank pitch, Trevor and Justin requested $500,000 in exchange for a 10% stake in their company, implying a valuation of $5 million. They presented their product and offered samples.
Their business had only been operational for less than a year and generated $500,000 in revenue, with expectations to reach $800,000 by the end of 2017. Sales primarily occurred during festivals and live events. The product was manufactured for $5 to $7 and retailed for $49.
Their future revenue projections included an anticipated $2.5 million in 2018 due to a partnership with a denim producer. They currently operate one mall kiosk but aspire to expand to forty by the end of June 2017.
Kevin rejected the offer first, believing the valuation was too high, and expressing concerns that potential buyers would be unaware that the buckle could conceal cards.
Robert was the second shark to decline the deal, citing concerns that the product, the size of a credit card, would not function well due to its limited size.
Daymond praised the product but left the deal due to the company’s high valuation and difficulty in selling it.
Mark rejected the offer, stating that while large belt buckles were not rare, the market was insufficiently broad.
Lori also declined the offer, expressing concerns that the company was too specialized and that the demand for belts among women, who frequently wear dresses and skirts, was low.
Wallet Buckle then signed licensing agreements with major sports organizations such as the NFL, Major League Baseball, the National Basketball Association, and the NCAA. This resulted in a significant increase in sales. As of June 2021, the company continues to operate with an anticipated yearly revenue of $3 million.
Wallet Buckle Net Worth
Trevor and Justin pitch the Shark Tank for $500,000 in exchange for 10% of their firm. This suggests a $5 million valuation.
Wallet Buckle Shark Tank Updates
Trevor and Justin Johnston appeared on Shark Tank Season 8 Episode 23 to pitch their product, Wallet Buckle, which is a belt buckle that doubles as a wallet. They asked for $500,000 in exchange for 10% equity but did not get a deal.
Kevin O’Leary and Robert Herjavec both dropped out, with O’Leary stating that the product looked too much like a normal buckle and Herjavec saying that the product was too limited. Mark Cuban and Lori Greiner also went out, with Cuban stating that the product was too niche.
Despite not getting a deal on Shark Tank, Wallet Buckle is still in business and doing well. As of June 2022, the company has an estimated annual revenue of $3 million.
Wallet Buckle stores up to four credit cards and IDs, providing a convenient and concealable alternative to the traditional wallet.
The company is rolling out a production design for the belt buckle that securely holds all essential credit, debit, and ID cards without any risk of them getting lost or falling out.
Wallet Buckle Shark Tank Table Summary:
| CATEGORY | INFORMATION |
| What is Wallet Buckle? | A belt buckle that can hold up to five credit or identification cards while concealing the wallet |
| Founders | Trevor and Justin Johnston |
| Shark Tank Pitch | Trevor and Justin requested $500,000 in exchange for a 10% stake in their company, implying a valuation of $5 million. Their business had only been operational for less than a year and generated $500,000 in revenue, with expectations to reach $800,000 by the end of 2017 |
| Net Worth | The current net worth of Wallet Buckle is not publicly available, but it can be assumed to have increased since its inception due to successful marketing strategies, licensing agreements, and increased sales. As of June 2022, the company has an estimated annual revenue of $3 million |
Wallet Buckle Competitors
Unknown.
Wallet Buckle FAQS
What Is Wallet Buckle Shark Tank?
Wallet Buckle is a metal belt buckle that doubles as a wallet, storing up to 5 credit cards and/or IDs. The Wallet Buckle was pitched on Shark Tank in season 8, episode 24 by Trevor and Justin Johnston, who were seeking $500,000 for 10% of their business.
The Sharks were intrigued by the idea of a belt buckle serving as both an accessory and a wallet, but they felt the valuation was too high and it would be too difficult to sell without the product being demonstrated first. As a result, none of the Sharks made a deal with the Johnston brothers.
Despite not getting a deal on Shark Tank, Wallet Buckle is still in operation and doing quite well. The company sold over 15,000 units before appearing on Shark Tank and has made $500,000 in sales over the span of 18 months.
Wallet Buckle is the first accessory of its kind and allows people to conveniently carry their cards inside their belt buckle. The company offers free shipping on all orders over $99. It appears that the Wallet Buckle brand mainly appeals to those who are likely to attend country music festivals.
How Does Wallet Buckle Shark Tank Work?
Wallet Buckle is a belt buckle that doubles as a wallet, allowing users to store up to five credit cards or IDs. The buckle has an opening with a slight taper that pinches the cards and keeps them securely in place.
The product was pitched on Shark Tank by Trevor and Justin Johnston in season 8, episode 23. They asked for $500,000 for 10% equity but did not receive a deal.
Wallet Buckle is sold for around $50 and comes in dozens of designs. The product is marketed as a convenient, carefree, and concealable alternative to the traditional wallet. The buckle is particularly useful for people who do not want to carry a wallet or purse, such as those attending music and sporting events where security checks are common.
Despite not receiving a deal on Shark Tank, Wallet Buckle is still in business and doing well. The product is available for purchase on their website, and they offer free shipping on all orders over $99.
What Happened To Wallet Buckle After Shark Tank?
Wallet Buckle is a belt buckle that doubles as a wallet, which can store up to five credit cards and/or IDs. The company was founded by Trevor and Justin Johnston, who appeared on Shark Tank in 2017, seeking $500,000 for 10% of their business.
However, none of the sharks invested in the company, as they felt the valuation was too high and the product was too niche. Despite not getting a deal on Shark Tank, the company is still in business and doing quite well. As of June 2022, Wallet Buckle has an estimated annual revenue of $3 million.
Wallet Buckle has been successful because it solves a common problem for people who dislike carrying wallets and are tired of losing them. The product is efficient and timely, allowing users to reach their cards in less than 15 seconds.
Wallet Buckle sold over 15,000 units before appearing on Shark Tank and has continued to grow without any investment. The company has been able to thrive despite not getting a deal on Shark Tank, which is a testament to the product’s usefulness and appeal to consumers.
Is Wee Can Wallet Buckle Shark Tank Still In Business?
It is unclear whether Wee Can Wallet Buckle from Shark Tank is still in business based on the provided search results. The first search result is a list of all Shark Tank products from seasons 1 to 8, which includes Wee Can Wallet Buckle.
The second search result is a directory of Shark Tank products, but it does not provide information on whether the products are still in business or not.
The third search result is a list of products that appeared on Shark Tank, but it also does not provide information on whether the products are still in business or not.
The fourth search result is a list of over 1300 Shark Tank products, and while some are no longer in business, the majority are still thriving. However, it is not clear whether Wee Can Wallet Buckle is still in business based on this list.
Therefore, it is recommended to conduct further research or contact the company directly to determine whether Wee Can Wallet Buckle is still in business.
What Is The Current Valuation Of Wallet Buckle After Shark Tank?
Wallet Buckle appeared on Shark Tank in Season 8, Episode 23, on May 5, 2017. During their pitch, Trevor and Justin Johnston proposed to give up 10% of their company in exchange for $500,000, which implies a valuation of $5 million.
However, none of the Sharks made a deal with them. Despite not getting a deal, Wallet Buckle is still in business and doing well. As of June 2022, the company has an estimated annual revenue of $3 million.
Wallet Buckle’s founders, Trevor Johnston and Justin Johnston, have a net worth of $12 million as of 2022. However, there is no information available on the current valuation of Wallet Buckle after Shark Tank.
What episode of Shark Tank did Wallet Buckle appear in?
23rd episode of Season 8.
Where did the wallet buckle originate?
Justin and Trevor Johnston of Northern California experienced the aforementioned insight.
As a result of this thought process, they created the Wallet Buckle, a handy and clever method to carry their cards and cash without dropping or losing them.
What is the Wallet Buckle’s mechanism of operation?
Wallet Buckle is the ideal replacement for traditional wallets since it enables them to quickly keep and access their cards and identification under the buckle of their belt.
The Wallet Buckle can hold up to four different cards at once, allowing them to carry not just their ID card, but also a variety of additional cards.
How do they make money?
Wallet Buckle makes money by charging a premium price for the Wallet Buckle. The primary market consists of men’s belts, but there are also women’s belts and purses.
When was Wallet Buckle aired on Shark Tank?
Wallet Buckle’s first appearance on Shark Tank was in Season Eight Episode 23. This episode aired on May 5, 2017.
How much does Wallet Buckle cost?
They cost between $5 and $7 to manufacture and retail for $49.
What is the net worth of Trevor Johnston?
Unknown.
What is the net worth of Justin Johnston?
Unknown.
How did Wallet Buckle do after the Shark Tank pitch?
Wallet Buckle’s experience on Shark Tank resulted in a very positive impact on their business. Immediately following the pitch, the corporation entered into license agreements with the National Football League, Major League Baseball, the National Basketball Association, and the NCAA.
Wallet Buckle continued to sell, which resulted in profits.
The company is still operating as of June 2021, with an expected yearly revenue of $3 million.
Where is Wallet Buckle located?
They are based in the Northern California United States.
What is the popularity of Wallet Buckle?
They now operate one mall kiosk but want to expand to forty by the end of June 2017.
Who founded Wallet Buckle?
Justin and Trevor Johnston.
What is the strength of Wallet Buckle?
Wallet Buckle is a clever and useful invention that allows the user to carry a range of necessary cards conveniently.
What are the weaknesses of Wallet Buckle?
Wallet Buckle is a specialized product that addresses a very narrow market.
Accordingly, it has high barriers to entry and must appeal to each consumer of men’s belts, women’s belts, and purses.
