What Happened to Safety Nailer Framer after Shark Tank? Safety Nailer Framer Shark tank Update
What is Safety Nailer Framer?
Safety Nailer is a firm that manufactures the Safety Nailer, which is their most well-known and namesake product. The device is worn across the thumb and pointer finger to protect users’ fingertips from typical impact injuries sustained when woodworking, performing home repairs, or just using a nail and hammer.
Additionally, the component includes three different sized guides for nail insertion to guarantee that nails are hammered in accurately and safely.
Drew Zirkle, an engineer, and Kristen Eifes, an accountant, started the firm. Drew got a Bachelor of Science in Civil Engineering from Old Dominion University and then spent over fourteen years as Water and Wastewater Project Manager for design company HRD.
Kristen holds a Bachelor of Business Administration in Administration and Management from Old Dominion University and a Master of Education in Elementary Education and Teaching from the University of Phoenix.
Who is the founder of Safety Nailer Framer?
Drew Zirkle, an engineer, and Kristen Eifes, an accountant, founded the company. Daniel and Kristen Eifes, Drew’s college friend and wife, designed the patented invention.
When Daniel was medically discharged from the Navy in 2012, the Eifes invented and patented the product. Daniel is unable to engage in the business due to a medical condition, so his wife collaborated with Drew to bring the product to market.
Daniel enlisted Drew’s assistance in bringing the product to market. The Safety Nailer is a little plastic barrier worn on the fingers and thumb.
It assists in magnetically securing the nail in place while minimizing harm from a “poor swing.” Additionally, it retains screws. The original version is intended for nails greater than a half inch in length. Additionally, they’re releasing a “tiny” Nailer for use with smaller nails and screws.
The firm received its initial funding via a July 2019 Kickstarter campaign that garnered $8663.
Additional cash came from their pockets and a $5,000 award they received at the Start Peninsula entrepreneurial and innovator competition. Both goods are available for $8.99 on Amazon.
What Happened to Safety Nailer Framer at Shark Tank pitch?
In Shark Tank episode 1117, Drew Zirkle seeks to secure funding for Safety Nailer, a device that magnetically secures nails in place while protecting your fingertips. The firm wants to see its items on the shelves of hardware and home center stores and is hoping a Shark can assist them in securing distribution deals.
Drew entered the Shark Tank in seeking of $100,000 in exchange for a 14% stake in their firm, which worth $714,286.
Drew discusses with the Sharks how he began his firm by purchasing his own injection molding equipment. They had collaborated with another firm that was not moving the items forward, and are now looking to produce elsewhere.
Given Drew’s full-time employment, he desires the assistance of a Shark in driving the firm forward.
According to the Sharks, Drew has “a product, not a business.” When Drew realizes he’s about to lose them, he reaches into his pocket and pulls out a toy he built out of the nailers’ magnets.
The Sharks appreciate that he was going all-out. Mark enjoys the toy and was interested in forming a group to explore the possibility of licensing the items.
Mark, Lori, and Rohan eventually bid $100,000 for 33.3% equity of the firm, Drew accepts, and exits presentation with a deal.
What Happened to Safety Nailer Framer after Shark Tank?
This episode first broadcast on March 20, 2020, the day the majority of the country was shut down because of the Pandemic Covid-19.
The deal with the three Sharks was never finalized. On Amazon, Safety Nailer items are still available. The product is now available nationwide at Ace Hardware Stores.
Drew successfully financed Newton’s Spindle (the toy he showcased on Shark Tank) on Kickstarter on May 2, 2020.
Additionally, the company’s website now offers pre-orders for three additional products: the aforementioned toy, a carpenter’s pencil sharpener, and a patent-pending sponge holder.
As of February 2022, the firm is still operating, generating around $2 million in yearly sales.
Competitors of Safety Nailer Framer
The similar product to Safety Nailer Framer on the market includes a product called the nail magnet glove.
Net Worth of Safety Nailer Framer
The company valuation was $714,286 during the pitch. Since then the company is still operating and hence the company net worth might be higher than that of pitch.
Safety Nailer Framer FAQs
What is Safety Nailer Framer?
Safety Nailer is a firm that manufactures the Safety Nailer, which is their most well-known and namesake product.
The device is worn across the thumb and pointer finger to protect users’ fingertips from typical impact injuries sustained when woodworking, performing home repairs, or just using a nail and hammer.
Who is the founder?
Drew Zirkle, an engineer, and Kristen Eifes, an accountant, founded Safety Nailer Framer.
How much were they seeking on Shark Tank?
They were seeking for $100,000 for a 14% stake in their firm. The valuation of the firm at pitch was $714,286.
Who are the investors?
Mark Cuban, Rohan Oza and Lori Greiner joined together to invest $100,000 for 33.3% equity of Safety Nailer Framer.
Is Safety Nailer Framer still in business?
Yes, it is still in business as of February 2022.
Where is Safety Nailer Framer located?
The company is located in Virginia Beach, Virginia.
What is Safety Nailer Framer website?
The company has a website at www.safetynailer.com
Where can I buy Safety Nailer Framer?
Safety Nailer Framer items are available for purchase their website and Amazon.com.
What is Safety Nailer Framer business model?
Safety Nailer Framer is a home improvement firm that manufactures the Safety Nailer.
Is Safety Nailer Framer shipping?
Yes, the firm is shipping their products worldwide.
What is the difference between Safety Nailer Framer and nail magnet gloves?
The Safety Nailer and the nail magnet glove work differently. The Safety Nailer secures the nails in place, eliminating the need to put the finger over the head of a hammer or drill to stabilize nails against their vibrations. The nail magnet glove is worn on one hand and holds a single nail in place for more accurate driving.
Who are Safety Nailer Framer customers?
Safety Nailer Framers’ primary customers are woodworkers, carpenters, and home improvement store owners in the United States who use a hammer and nail to perform home repairs on their homes.
What is the return policy of Safety Nailer Framer?
Safety Nailer Framer offers a 30 day return policy for items that are unopened and unused.
What is Safety Nailer Framer warranty?
Safety Nailer Framer offers a one year warranty on the Safety Nailer, which must be requested at time of purchase.
What is Safety Nailer Framer price?
Safety Nailer Framers’ pricing is $8.99 for the Safety Nailer and $12.99 for the magnet glove. Customers that wish to purchase multiple items can create a single order for less per item.
What is Safety Nailer Framer revenue source?
Safety Nailers’ primary customers are woodworkers, carpenters and home improvement store owners in the United States. These customers use a hammer and nail to perform repairs on their homes.
How do I pay for Safety Nailer Framer?
Customers can pay for Safety Nailer Framers via Visa, MasterCard and American Express credit cards.
How long will Safety Nailer Framer last?
Safety Nailer Framers are built to last. The firm uses high quality components, and tests the products for durability at least once a year, according to the Safety Nailer Framer website.
What is the net worth of Drew Zirkle?
The net worth of Drew Zirkle is unknown.