Wurkin Stiffs Shark Tank Update | What Happened to Wurkin Stiffs after Shark Tank?
What is Wurkin Stiffs? Who is the founder of Wurkin Stiffs?
Wurkin Stiffs is a company founded by Jonathan Boos in 2006, that produces and sells magnetic collar stays to prevent collar curling and maintain a clean appearance around the neckline.
The stays, made of plastic or metal, can be used with formal or semi-formal shirts and when paired with magnetic buttons, give a polished and sophisticated look.
Jonathan, who continues to serve as the CEO, came up with the concept for the company by experimenting with a paperclip and a refrigerator magnet prior to going on a date.
Jonathan Boos, the founder of Wurkin Stiffs, a men’s accessories company, created Power Stays, a popular magnetic solution for holding collars in place with minimal effort.
As an innovator and entrepreneur, Jonathan is always on the lookout for new ideas and came up with Power Stays while trying to quickly get ready for a dinner reservation, when his wife was becoming frustrated with him.
He was having trouble getting his collar straight, so he improvised with a paperclip and a small magnet to create a makeshift collar holder that worked well.
This inspired him to develop Power Stays, which can easily be added to any collar and any shirt.
What Happened to Wurkin Stiffs at Shark Tank pitch?
On episode 1 of Season 2 of Shark Tank, Jonathan Boos, the founder of Wurkin Stiffs, a men’s accessory company, appeared on the show to pitch his product Power Stays, magnetic collar stays.
He entered the pitch seeking $85,000 for a 10% stake in his company, which he valued at $850,000.
He stated that there was nothing like Power Stays in the men’s apparel industry and mentioned that he had opened 77 stores in three months and sold 18,000 units for $600,000, expecting to make $1.8 million in sales.
Mark Cuban admired Jonathan’s product and expertise but decided not to invest. Barbara Corcoran paid close attention to Mark’s decision. Kevin O’Leary liked the Power Stays and offered $100,000 in exchange for 30% stake and 40% royalties.
Jonathan rejected the offer, stating that he needed more than money, he needed a partner to help him expand his company. He apologized to Daymond for interrupting him before he could finish his statement, and it was not clear if he was going to make an offer.
After the commercial break, Robert Herjavec made an offer of $100,000 for 30% equity in the company, with no royalties. Jonathan countered with an offer of $200,000 for 30% equity.
Kevin O’Leary quickly increased his offer to $100,000 for 20% equity, but kept the royalty at 40%. Robert Herjavec modified his offer to $100,000 for 25% equity, and stated that it was his final offer.
Barbara Corcoran entered the negotiation with an offer of $100,000 for 20% equity, on the condition that Daymond John forgive him. Daymond stated that 20% equity was not enough and he could accept less than 40% equity.
Kevin O’Leary urged Jonathan to make a decision and return to his offer of $100,000 for 15% equity and 40% royalties. Jonathan counter-offered Barbara and Daymond $100,000 for 30% equity, but Daymond declined.
In the end, Jonathan accepted Barbara and Daymond’s offer of $100,000 for 40% equity and leaves the deal with them.
What Happened to Wurkin Stiffs After Shark Tank?
In the end, Barbara Corcoran and Daymond John were able to come to a combined offer that met Jonathan Boos’ initial goals for his company, Wurkin Stiffs. Although he had to give up more ownership in the company, it ultimately worked out as the company seemed to take off after the deal.
The official website for Wurkin Stiffs can be found at www.wurkinstiffs.com. A quick review of the website shows that Jonathan’s partnership with Barbara Corcoran and Daymond John was successful.
He has also developed other accessories such as Polo Stays for polo shirts, cuffs, jacket accessories, ties and even bags which can be purchased on the Wurkin Stiffs website and Amazon.
The Power Stays have a rating of 4.5 out of 5 stars on Amazon indicating they are quite popular among shirt wearers. The company is still in business as of December 2021 and it also sells on their website.
Competitors of Wurkin Stiffs
The Wurkin Stiffs’ Largest Competitors are; GILDAN ACTIVEWEAR EDEN, Eden, ACTIVEWEAR, Bolingbrook and STEVEN MADDEN
Net Worth of Wurkin Stiffs
The company was valued at $850,000 during the pitch, after the investment done by Barbara and Daymond the company valued $250,000.
Since then the company is still operating and hence the company net worth might have increased.
Wurkin Stiffs FAQs
What is Wurkin Stiffs?
Wurkin Stiffs is a firm that creates and sells revolutionary magnetic collar stays that prevent collar curling and keep the neckline neat.
They look wonderful when coupled with magnetic buttons, and the plastic or metal stays make formal collar shirts, semi-formal polo shirts, or golf shirts appear clean and debonair.
Who is the founder?
Jonathan Boos is the founder of Wurkin Stiffs. He got the idea during one of his frantic mornings in the bathroom, searching for an easy way to keep his collar looking crisp no matter how early he had to be somewhere.
How much was asking on Shark Tank?
Jonathan Boos was asking $85,000 for a 10% stake in his company.
Did he have the deal?
Yes, he got a deal of $100,000 for 40% stake of the company from Barbara and Daymond.
Is Wurkin Stiffs still in business?
Yes, it is still operating as of December 2021.
Do they ship internationally?
Yes, they ship to Canada and US.
Where can we buy Wurkin Stiffs?
Customers can buy them on their official website www.wurkinstiffs.com or on Amazon.
What Is the Process for Obtaining Free Shipping?
When customers spend $50 or more, customers will be given the option of receiving Free USPS First-Class Shipping. Only accessible in the 48 contiguous states of the United States.
When will my order be delivered?
Orders placed before 10 a.m. Eastern Standard Time (EST) are processed and sent the same day. Orders placed after 10 a.m. EST will be sent the next business day. Individuals will be contacted through email, so keep an eye on their inbox for developments.
What is the purpose of Collar Stays?
Collar stays are placed in the collar stay pocket on the rear of shirt collars. They keep your shirt collar neat and straight.
What kinds of stains will it repel?
Garment Shield repels liquid spills and stains. Garment Shield isn’t meant to completely resist grease or oil-based stains.
Can it be used on what kinds of fabrics?
Garment Shield is suitable for use on cotton, wool, polyester, denim, and spandex. It is not suggested to use on Silk.
What if I’m dissatisfied?
Please contact them if they are dissatisfied with Wurkin Stiffs. They make every effort to make them appear confident from the inside out.
What materials are they constructed of?
Power Stays are composed of German surgical stainless steel that has been hand-polished.
What is the net worth of Jonathan Boos?
The net worth of Jonathan Boos is unknown.