What Happened to Bev Buckle after the Shark Tank pitch?

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What is Bev Buckle?

The Bev Buckle is a belt buckle that is meant to hold a can or bottle of beer. It solves the issue of a beer drinker placing their drink down at a bar and then losing it, as well as allowing a beer drinker to freely express himself by utilizing his hands.

The Bev Buckle seems to be a standard belt buckle, but when folded, it reveals a little shelf and copper ring for their beer bottle.

The bottom of their drink sits on the underside of the buckle, which is held in place by the copper ring.

The Bev Buckle is intended to be used with any standard belt that has a 1.5″ belt bracket.

El Jefe, with a trendy handlebar mustache, LiL Big State, with the state of Texas represented in leather, and Bayou, with swanky gator leather, are among the varieties offered.

The Bev Buckle can carry more than just a beer.

It is suitable for any canned or bottled beverage. It stabilizes their drink as they take a photo, use their phone, or do anything else that requires two hands.

It’s perfect for concerts or festivals when they don’t want to carry their drink around all the time but also don’t want to sit it on the ground.

It can be utilized for fishing or at a sporting event. The Bev Buckle is excellent for any situation that necessitates a drink and two hands.

Who is the Inventor of Bev Buckle?

Jay Kriner, an entrepreneur, came up with the idea for Bev Buckle. He founded the firm in 2002.

Jay mentioned that he came up with the idea after seeing that he had a habit of leaning his drinks against his belt buckle while out a bars.

Jay sold Bev Buckles at beer festivals around the count try and on his website. He had one licensing deal in place before to recording for Bev Buckle, also known as The Beer Buckle.

What Happened to Bev Buckle During pitch the Shark Tank?

Jay appeared on Shark Tank Season 4 Episode 1 and requests $50,000 in exchange for 10% ownership of his firm. This translates to a $500,000 valuation.

He began with lofty claims, suggesting that the Bev Buckle is one of the most exciting inventions “America has ever seen.” Jay next went over a few circumstances in which the Bev Buckle may come in handy, such as during a sporting event or a concert.

He grabbed for an empty beer bottle on the stage. Jay unlatched his belt buckle and placed the bottle on the little tray that protruded from it, screaming his new catchphrase, “BaBam!” As a consequence, the Sharks were chuckling in their seats.

Mark wanted to know how he came up with the idea. Jay reported that while out at bars, he had a habit of resting his drinks on his belt buckle.

He gives out samples. Kevin opened his and asked if it was held shut by a magnet. Jay confirmed that this was the situation.

Jay claims to have sold 4,000 copies of his album at various festivals and events around the country.

When Barbara asked how long it had taken him, he responded it had taken him four years.

His $340,000 in sales also does not impress the sharks. But then Jay informs them that he has a patent, and the game resumes.

It costs $10 to make each unit, and he sells them for $35 on average, but up to $110 depending on what is on the surface.

Mark questioned about Jay’s full-time employment, and Jay expanded on his dangerous day job of handling unexploded bombs.

The concept piqued the interest of major businesses such as NASCAR and Daytona International Speedway.

Daymond was irritated the entire time, and he asked Jay if any of those firms had handed him a check. Jay said no since he was having difficulty with his foreign manufacturer.

Daymond had been scrutinizing the list when he came to a halt in front of Jay and tore it in half. He remarked that if no one was willing to give him a check, the list would be useless. He walked away, stating he didn’t have time to teach him business.

Jay had 62 units available. Mark was disgruntled and complained that he was not working efficiently. Mark walked out of the home.

Robert said that Mark was accurate, yet he sympathized with him. He argued that he was in the same predicament as others and that he had to learn from them.

He made a $50,000 offer in exchange for 75% of the company, indicating that it would take a lot of work to get Jay where he wanted to go.

Kevin was surprised and accused Robert of stealing Jay’s business. He responded with a counter-proposal.

He did not ask for shares in Bev Buckle, but rather a 12% royalty on each unit sold. When Robert asked Jay how hard he wanted the firm to succeed, he answered, “quite severely.”

Barbara then contributed $50,000 for a 51% stake.

Kevin advised him that if he took the 75% off, he would be dumb, and Robert countered that he didn’t want to lose 12 % of his revenue flow.

Jay thought about it for a while before deciding on Barbara.

They shook hands, and Kevin told him that relinquishing control of his company was a huge mistake. Jay seemed unaffected as he fled the stage with a last “Babam!”

What Became of Bev Buckle Following the Shark Tank Pitch?

Jay and Barbara’s deal did not go through, but Barbara advised him and is keen to develop a collaboration in the future. If Jay requires it, Barbara will aid him in funding a huge order.

Jay didn’t need the money because he sold over $40,000 in Bev Buckles on the night of the program and the following week.

Jay is now in discussions with Spencer Gifts, Urban Outfitters, and other retailers.

He expects a second order from Twisted Teas, who licensed the Bev Buckle, and he is still looking at NASCAR opportunities.

Following some quality control issues with previous offshore makers, the Bev Buckle is currently manufactured in the United States.

The company is still going strong in 2021. As of July 2021, the annual revenue is $1 million.

What is the Bev Buckle’s Net Worth?

The net worth of Bev Buckle is estimated to be $2.25 million.

Who are the Competitors of Bev Buckle?

There are no known rivals for Bev Buckle.

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Bev Buckle FAQS

1. What is the Bev Buckle made of?

The Bev Buckle is made of nickel and stainless steel.

2. How does Bev Buckle work?

The Bev Buckle works by fitting around a bottle or container while the magnets hold it in place when not in use.

3. When and why was Bev Buckle invented?

The Bev Buckle was invented in 2014 and Jay mentioned that he came up with the idea after seeing that he had a habit of leaning his drinks against his belt buckle while out a bars.

4. Who is the inventor of Bev Buckle?

Jay Kriner is the founder of Bev Buckle, an innovative belt buckle that helps keep their beverage from falling off their belt if they lean against their belt buckle while out at bars.

5. How does Bev Buckle costs to buy?

The Bev Buckle is priced at $35, and costs $10 to make each unit.

6. How much was Jay Kriner seeking in the Company?

Jay Kriner was looking for $300,000 for a 10% stake in his company.

7. What is the Bev Buckle’s revenue?

The Bev Buckle’s revenue is $1 million annually by 2021.

8. Who invested in Bev Buckle?

Barbara offered $50,000 for a 51% stake in Bev Buckle.

9. What happened to Bev Buckle after the Shark Tank?

Jay and Barbara’s deal did not go through, but Barbara advised him and is keen to develop a collaboration in the future.

If Jay requires it, Barbara will aid him in funding a huge order.