What Happened to BeatBox Beverages After the Shark Tank Pitch?
What is BeatBox Beverages?
BeatBox Beverages is a company that specializes in wine punch. BeatBox Beverages are totally made of orange wine and come in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea.
The beverage is 22 proof and contains 11.1 percent alcohol by volume; it is very minimal in calories (approximately 40 calories per serving).
Each BeatBox beverage container holds 5 litres, or more than 30 5-ounce servings. At $19.99 per box, you get a good deal.
What is Founder of BeatBox Beverages?
The founders behind BeatBox Beverages are Justin Fenchel, Brad Schultz, and Aimy Steadman.
The team met in a business school in Austin, TX, where they were joined by two other co-founders. Justin launched BeatBox Beverages out of a desire to deliver a unique beverage to parties and gatherings.
Rather of bringing a 30-pack of beer or a box of wine to a meeting, he devised the concept of packaged mixed drinks.
The business, founded in 2012, sought but failed to gather cash in early 2013 via an IndieGogo campaign.
They raised $6000 toward a fundraising target of $10,000. Unlike Kickstarter, which withholds funds until a funding goal is reached or exceeded, IndieGoGo allows entrepreneurs to keep all funds raised regardless of whether the goal is met or exceeded.
What Happened to BeatBox Beverages at the Shark Tank Pitch?
Justin, Brad, and Aimey join the Tank in Season 6 Episode 6 in return for $200,000. This corresponds to a $2 million appraisal.
They place an expensive bottle of wine on a table and pronounce it BORING!
They next unveil the Beatbox Beverages, which they characterize as a “party in a box.” They deliver samples to the Sharks, who appear to appreciate them. Mr. Wonderful asserts that it tastes vile!
They claim to have started by self-distributing and lacked the time required to market. Currently, they work with a co-packer.
The company earned $245,000 during a 14-month period, with the most recent quarter accounting for more than half of total income.
They began with $55,000 and $100,000 in debt. Justin claims they intend to expand through tastings, but Mark feels this is an ineffective strategy. He wishes for a wider dissemination.
Mr. Wonderful demonstrates how viral beverages may effectively eliminate it in some markets while damaging it in others. Kevin feels that distribution will be difficult.
Barbara proposes $400,000 in return for a 20% stake.
Kevin offers $200K in return for 20% because he is twice as wealthy as Barbara and is familiar with the neighbourhood.
Mark says it is not a wine product and that they should expand faster. He feels he is most prepared to develop it quickly and offers $600,000 in exchange for a 33% ownership.
Justin responds with $1 million in exchange for 33% of the business, and Mark agrees to negotiate.
What Happened to BeatBox Beverages After the Shark Tank Pitch?
BeatBox used Cuban’s funding to expand distribution (it is now available at Kroger and Ralphs supermarkets across the United States) and develop a single-serve boxed beverage.
The BeatBox MixTape comes in two flavours: Fruit Punch and Blue Razzberry. It is priced at less than $3.50.
BeatBox is currently partnering with celebrity entrepreneur Rob Dyrdek (star of MTV’s Ridiculousness) on a “major packaging overhaul” that will ensure BeatBox remains accessible to a broad market (21 and older).
Mark Cuban recently promoted BeatBox on Dyrdek’s television show Ridiculousness.
Fast forward to November 2021, and Beat Box is the fastest growing brand in the category. The company has been renamed Future Proof Brands LLC.
They’ve added Corkless, a canned single-serve wine; Brizzy, a seltzer cocktail; and Vizzy, a hard seltzer, to their product lineup.
They are sold at nearly 12,000 stores around the United States, including Kroger, Circle K, and Quik Trip.
The firm produces yearly sales of $11.5 million.
What is the Net Worth of BeatBox Beverages?
Justin, Brad, and Aimey joined the Tank in Season 6 Episode 6 in return for $200,000. This corresponds to a $2 million valuation.
They accepted a $1 million offer from Mark Cuban for 33% of the company, valuing it at $3,030,303.
Who are the Competitors of BeatBox Beverages?
Double Eagle Distributing is a major rival of BeatBox Beverages.
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BeatBox Beverages FAQS
What is BeatBox Beverages?
BeatBox Beverages is a wine punch. BeatBox Beverages are made exclusively from orange wine and come in four varieties: Lemonade with Blue Razzberries, Cranberry Limeade, Box A’Rita, and Texas Tea (available in Texas only).
Who is the founder of BeatBox Beverages?
Aimy Steadman, Justin Fenchel, Brad Schultz are founders of BeatBox Beverages.
How much were they asking in the Shark Tank?
They want $200,000 in exchange for a 10% stake in the business.
Did they get the deal?
Yes, Mark Cuban offered them $1 million in exchange for a 33% stake.
Is BeatBox Beverages still in business?
Yes, BeatBox Beverages is still in business as of November 2021.
Where are the BeatBox Beverages sold?
They are available throughout the country in supermarkets, liquor stores, and convenience stores.
It now covers over half of the United States, with Texas serving as a stronghold.
For example, it is accessible in Lubbock, Texas; Tulsa, Oklahoma; and other places around Texas, such as Amarillo and Corpus Christi.
Is the alcohol in BeatBox carbonated?
It is an aerated beverage that is not carbonated.
What type of alcohol is contained in a BeatBox beverage?
BeatBox is a wine-based “Party Punch.” They provide an 11.1% ABV Hard Punch and a 6% ABV Zero Sugar beer.
Is it necessary to keep Beatboxes refrigerated?
At room temperature, the BeatBox will remain sealed for 24 months.
Additionally, Bag-In-Box items should be refrigerated after opening for up to two months. BeatBox is a low-calorie, low-sugar beverage that has less than 7 grams of sugar per serving.
Are BeatBox beverages tasty?
It’s rather sweet and has a distinct berry flavour. While it wasn’t horrible on its own, as a cocktail, it reminded me more of a blue energy drink with extra alcohol.
What is the composition of the BeatBox beverage?
BeatBox Beverages are totally made of orange wine and come in four flavours: Blue Razzberry Lemonade, Cranberry Limeade, Box A’Rita, and Texas Tea.
The beverage is 22 proof and contains 11.1% alcohol by volume; it is very minimal in calories (approximately 40 calories per serving).
How much did BeatBox sell for?
The BeatBox MixTape is a 500ml resealable bottle available in two flavours: Fruit Punch and Blue Razzberry. It retails for less than $3.50.
What is the flavour of BeatBox?
What differentiates BeatBox from other boxed wine companies, according to Fenchel, is that BeatBox tastes more like a vodka mixed cocktail than wine.
Are BeatBox beverages sugary?
BeatBox Beverages is a subscription service that delivers delightful wine-based beverages to customers door.
Delicious – the breezy Blue Razzberry Lemonade and the scrumptious Blue Razzberry Lemonade drinks are their two most popular flavours.
Can BeatBox beverages be frozen?
“They suggest putting BeatBox over ice with a splash of lemonade or sprite/soda,” CEO Justin Fenchel added.
“Or freeze it to create boozy slushies called ‘BeatBoxicles.’ They just freeze the bag, snip off the corner, and squeeze. Blue Razzberry and Fruit Punch are their best-selling flavours.
How much sugar is in a blue raspberry BeatBox?
Per serving, each recyclable and resealable packaging has 130 calories and 8 grams of sugar.
