What Happened to The Buffer Bit after Shark? The Buffer Bit Shark Tank Update

What is The Buffer Bit? Who is the founder of The Buffer Bit?

The Buffer Bit is a device that attaches to a standard hand drill and allows for easy shoe polishing. It was created by Michael Quinn in 2012, who was frustrated with the time-consuming process of manually buffing shoes.

The Buffer Bit includes one drill bit and three wool polishing pads and can also be used for other leather items. The product has been successful since its debut on the DIY Network’s “I Want That” and is sold on Amazon. It can also be used as a vehicle detailing tool.

What Happened to The Buffer Bit at Shark Tank pitch?

During the Shark Tank pitch, Michael Quinn, the founder of The Buffer Bit, presented his product to the Sharks as a game-changing shoe care solution.

He was seeking $75,000 in exchange for a 25% stake in his business, which he valued at $300,000. The Buffer Bit is a shoe buffer that can be used with a standard hand drill.

However, the Sharks were not impressed with the product and its potential. Mark Cuban felt the product was cool but that the time wasn’t right for it yet. Lori Greiner was not familiar enough with the market for shoe-shining products.

Daymond John, Kevin O’Leary, and Robert Herjavec also did not see the potential in the product. In the end, Quinn left the presentation without landing a deal.

What Happened to The Buffer Bit after Shark?

After the Shark Tank pitch, Michael Quinn, the founder of The Buffer Bit, did not give up on his product. Instead, he pivoted his focus and repurposed the Buffer Bit as an automobile detailing tool.

In 2014, he attended the SEMA (Specialty Equipment Market Association) Show, where he caught the attention of Gene Winfield, a well-known custom vehicle builder in the industry.

With Winfield’s endorsement, the Buffer Bit gained popularity and became an award-winning product with a global following among automotive enthusiasts.

Although the product primarily shifted towards cleaning and motor detailing, Quinn still markets the cotton buffer for shoes. As of February 2022, the company is still in business with $5 million in lifetime revenue.

Net Worth of The Buffer Bit

The net worth of The Buffer Bit is not publicly disclosed. However, it is known that the company’s valuation was $300,000 during the Shark Tank pitch.

Since then, the company is still in business, so it is possible that the company’s net worth has increased beyond that initial valuation.

The Buffer Bit FAQs

What is The Buffer Bit?

The Buffer Bit is a high-performance, spin-buffing power tool that permanently shines shoes, accessories and car detailing.

Who is the founder?

The founder is Michael Quinn.

How much was Quinn seeking on Shark Tank?

Quinn was seeking for $75,000 for a 25% stake in his company.

Did he have the deal?

No, the deal did not happen.

Is The Buffer Bit still in business?

Yes, they are still in business.

Where is The Buffer Bit sold?

Buffer Bit is sold on Amazon and company website at www.bufferbit.com.

Who is the president of The Buffer Bit?

The current president is Michael Quinn.

Does the Buffer Bit work with any drill?

Yes, any cordless drill will work.

Who would want to use the Buffer Bit?

The Buffer Bit is a household tool that needs no batteries and need no handle. It can be used both indoors and outdoors.

Has The Buffer Bit been sold in large retailers like Best Buy and Walmart?

Yes, but so far very few customers have purchased them in such stores.

How much does The Buffer Bit cost?

Quinn is asking for $19.95 for The Buffer Bit and $9.95 for 2 Replacement Pads in Black, Red and Natural. Additional replacement pads are also available at $3.95 each in 6 different colors.

What is The Buffer Bit product?

The product is a drill bit containing a spinning pad and an attachment that fits on your drill. The company produces a variety of wraps that you attach around the spinning pads.

Each wrap contains different materials designed to buff and polish your shoes, accessories, car or motorcycle.

Where do I get the Buffer Bit?

The Buffer Bit can be purchased on The Buffer Bit website, Amazon.com or at select automobile dealers.

How is the wool pads made?

Wool is a natural fiber that is easy on the skin and environmental friendly.

What is The Buffer Bit return policy?

The company has a no-hassle 30-day return policy.

How much is The Buffer Bit package?

The Buffer Bit package contains a pre-packed spinning pad, according to the size of the drill and a pack of wraps.

What is the warranty period?

The Buffer Bit products come with a one-year warranty from the date of purchase by original purchaser. Any returns must be within 30 days from the purchase date.

What are the payment methods accepted by The Buffer Bit?

The Buffer Bit accepts American Express, Discover and MasterCard.

What is the net worth of Michael Quinn?

The net worth of Michael Quinn is around $1.5 million.