Mission Belts - Shark Tank
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Mission Belts are cool new business that was on ABC's Shark Tank and became a hit after getting a deal with Daymond John. Instead of holes, they use a ratchet system for a perfect fit. They're also stylish and the cost goes toward ending world hunger.
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Mission Belts - Shark Tank
- 1. Mission Belts - Shark Tank By Justin Bryant
- 3. Mission Belts Intro Mission Belts are just another really cool business idea that an entrepreneur came up with and brought to Shark Tank. It's funny how many people will watch Shark Tank episodes on TV and see products that seem so simple, yet genius like the mission belt, and wonder, "Why didn't I think of that?"
- 4. How Did Mission Belts Get Their Names? Mission Belts got their name because every time one is bought, some of the money goes towards missions to end world hunger in foreign countries where they actually give the starving people the tools and know-how they need to be self sufficient and provide for themselves. It isn't just about the money with this homerun-hitting product.
- 5. How Did Mission Belts Start? A man named Nate Holzapfel co-founded the company with the idea of making a belt that fit just right every time you wore it by eliminating belt holes. These belts had a ratchet system that made sure you belt fit exactly how you wanted it to. They are also clean and stylish. These belts have many different colors and designs to suit you. Plus, when you buy one, you help towards ending world hunger in the process.
- 6. Taking It To Shark Tank Before going on Shark Tank, the Mission Belts sold for $39,000 in 3 months, with Nate being the only employee trying to package them and ship them to customers. Nate needed a way to get Mission Belts mass produced and marketed to more customers around the world to make it the business he knew it could be. He took the Mission Belts idea to Shark Tank and got a deal with the perfect fit for his company. Daymond John decided to offer Nate $50,000 for 37.5% ownership in the company, plus a licensing deal for their unique no-holes ratchet belts. With Daymond John's success in the fashion industry, this proved to be the perfect deal for both sides. Even if you don't get a deal on Shark Tank though, just getting on the show at all can dramatically increase sales. In fact, Mission Belt Co. sold $180,000 worth of belts the very first night after airing on ABC's Shark Tank. Within a month, they became a million dollar company.
- 7. Where Mission Belt Co. Is Now This proved to be one of the best businesses in Shark Tank history so far. They're projected make $5 million within 6 months of airing and Daymond John is looking really smart for investing in the Mission Belts idea. They sold over 50,000 units shortly after its deal with Daymond as well. They even have over 20 employees and Mission Belt Co.'s own facility. Nate made the facility in his own community so he could even provide jobs to the local people.
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