Jay Kriner is making it easier to socialize while drinking, by helping you free up your hands. His belt buckle doubles as a drink holder! Will he earn a deal on
Shark Tank BevBuckle Update
- Entrepreneur: Jay Kriner
- Business: Drink-holding belt buckle
- Ask: $50,000 for 10% equity
- Result: $50,000 for 51% equity
- Shark: Barbara Corcoran
BevBuckle founder Jay’s enthusiasm and catchphrase “ba-bam!” elicited smiles and laughter from the sharks, as they were impressed with the simple but innovative drink-holding belt buckle. Robert Herjavec even shouted out mid-pitch, “That is a great idea!”
Hecho en USA. The BevBuckle is the perfect way to hold your bottle or can hands free with style. As seen on ABC's Shark Tank.
Kevin O’Leary wanted to talk numbers. Jay said he had sold over 4,000 units at various festivals and events in the 4 years prior to filming. In addition, Jay had already secured a patent for the technology.
By now, the sharks were convinced that Jay had done his due diligence and showed enough hustle and focus. They were impressed with his margins, as the unit cost $10 to create and sold for between $35 and $110 depending on the design, logo, or branding of the buckle.
Jay continued his enthusiastic display of showmanship, as Robert asked about BevBuckle’s game plan, and Jay revealed two mysterious envelopes.
In the first, there was a list of retailers that expressed interest in carrying the product, including Urban Outfitters, Cowboy Harley Davidson, Boston Beer Company, and Seaside Market.
The other envelope also continued a contact list, this time for raceways that wanted BevBuckle sold trackside in locations such as Daytona, Talladega, Darlington, Michigan, Watkins Glen, and other NASCAR venues.
Daymond John remained unimpressed however, and recounted his personal experience. He said that everyone is interested in the product until it comes time to write a check. To emphasize his point, Daymond tore up the list of names and went out.
Mark Cuban went out due to Jay’s stagnant sales. Robert echoed Mark’s concerns but made an offer of $50,000 for 75% equity.
Kevin made an offer as well and, in true Mr. Wonderful fashion, he offered the $50,000 for no equity and instead asked for a 12% royalty on each unit sold.
The sharks continued to bicker until Barbara Corcoran offered $50,000 for 51% equity. Some time passed, and Daymond pressured Jay to make a decision with 3 offers on the table.
Eventually, Jay accepted Barbara’s offer and sealed the deal during
We have good and bad news to share in our BevBuckle update! For the bad news, Jay revealed in an interview that Barbara ultimately did not follow through with the deal, but the reasons were not disclosed.
Nonetheless, the company received a feature in a German edition of Playboy magazine and even became a featured vendor at the Daytona 500. BevBuckle remains in business with an estimated annual revenue of $1 million. Products are available on the BevBuckle website, and on Amazon.
Would you like to learn about the other companies featured on Season 4, Episode 1? Follow the links below for our other company updates from the episode.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!