Drew Beaumier has created the first wearable recreational device, that transforms the wearer into a drivable vehicle. Will he drive away with a deal on
Shark Tank Drive Suits Update
- Entrepreneur: Drew Beaumier
- Business: Drivable costume
- Ask: $150,000 for 20% equity
- Result: $150,000 for 30% equity
- Shark: Kevin O’Leary
Drew’s Drive Suits turned heads immediately when he and his team literally drove into the tank with a costume that essentially turned the wearer into a real-life Transformer robot. Robert Herjavec wanted to know right away how fast it goes and if he could try it, learning that it could achieve a top speed of 10 to 12 mph.
Drew revealed that they had no sales as of yet, but that he had shown off Drive Suits at various shows and contests, winning five contests in the past two years and earning $25,000 in winnings.
Robert was the first shark to go out, as he felt there was nothing proprietary about the product, and with no patent in place, he wasn’t interested in working out the manufacturing. For those reasons, he was out.
Daymond John too felt it was too soon, and that there were too many unknowns, so he was next to go out. Barbara Corcoran said as a mother, she would be frightened to see her children in a Drive Suit. With that, three sharks were out.
Mark Cuban offered $150,000 for 40% equity, to make 20 unique units. They would then create a viral video campaign to get national attention, at which point they would hire an engineer to optimize the design, lower the cost, and go from there.
Mr. Wonderful decided to offer $150,000 for 30% equity with one contingency. He wanted to negotiate a partnership between Drive Suits and a major toy manufacturing company. If he was unable to achieve this, the deal would be off the table.
After Mark and Kevin debated who had the better offer, Drew finally spoke up. He began by thanking Mark for his offer, but decided to take Kevin’s deal instead. So what happened next? Did Drew and Kevin partner with a major toy company and roll out the product nationwide? Keep reading our Drive Suits update to find out!
We have good news to share in our Drive Suits update. While the deal with Kevin never closed, Drew and Drive Suits would go on to appear on numerous TV shows, before rebranding to Robots and Cars Entertainment, Inc., or R.A.C.E. In 2023, the costumes are still around but not available for purchase. Instead, R.A.C.E. is available for hire and they appear at commercial events. Details of their annual revenue is unclear, but they are still in business.
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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!