40 years ago, men only carried a money clip but things sure have changed! Men today carry an average of 4-5 lbs of stuff with them, but have very few options to carry them in. That’s why Aaron Tweedie created the Man-PACK, his sling-style, vertical messenger bag. Will the sharks make him an offer on
Shark Tank Man-PACK Update
- Entrepreneurs: Aaron Tweedie
- Business: Carrying Bags for Men
- Ask: $200,000 for 29% equity
- Result: No deal
- Sharks: None
Aaron wore his Man-PACK into the tank, explaining to the sharks how so few options for men’s bags caused him to design his own line. This wasn’t just a bag for men, but more like a utility pack to hold all their things and help them be prepared. This feature helped his product stand out to Lori Greiner.
Aaron told the sharks that in the year prior to filming, he had generated $76,000 in sales and had so far generated $65,000 in sales with many months remaining in the calendar year. The sharks were impressed but wanted to still learn more about the company’s financial numbers.
Margins were an important topic for the sharks. Aaron told them that he produces a single bag for $22.05, while he sells them for $59.95. He expects to reach about $145,000 in sales by the end of the current calendar year. All of the sharks had a collection of concerns. The company didn’t have a whole lot of sales and many of the sharks believed that it would be challenging to scale the business effectively and receive a return on their investment.
All five sharks dropped out fairly quickly, forcing Aaron and his Man-PACK to leave
We’re happy to report that Aaron has managed to keep his company in business! Research for our Man-Pack update revealed that he has grown his sales to $2 million every year. You can get your own Man-Pack and much more on the Man-PACK website.
Would you like to know more about the other companies featured on Season 6 Episode 8? Follow the links below to see our other company updates from the episode.
For even more on companies and products, check out our Season 6 Products Page!