Beardbrand Shark Tank Update – Beardbrand Net Worth 2024

In Season 6, Eric Bandholz made an appearance on Shark Tank to promote his business, Beardbrand. He founded Beardbrand in an effort to alter the perception of bearded guys. Many people assumed that bearded males were either hippies or lumberjacks.

Eric aimed to demonstrate that bearded men are style- and grooming-conscious. Products like oils and kits for beard grooming are sold by his company. They offer a pleasant smell, reduce flakes, and soften beards. He requested $400,000 from the sharks in exchange for 15% of his business.

Beardbrand Net Worth 2024

Eric Bandholz asked for a $400,000 investment in exchange for 15% equity in his company, Beardbrand. This meant he valued his company at $2.67 million. He did not make a deal with any of the sharks. Despite walking away without an investment, the exposure from the show contributed significantly to Beardbrand’s growth. After the show aired, Beardbrand saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Beardbrand in 2024 is about $6.98 million.

Beardbrand Shark Tank Update

Beardbrand grew even after Eric failed to land the deal on Shark Tank. The company has expanded significantly since it was founded and is still operating today. The “Shark Tank Effect” increased sales following the episode. Beardbrand became widely known. The publicity that Shark Tank provided really aided Eric’s business. Beardbrand was bringing in about $7 million annually by 2021.

The business also increased its product line. These days, it offers more than just grooming kits and beard products. Beardbrand also sells skincare, hair care, and fragrances. The business’s online community has expanded. Products are available for purchase on the Beardbrand website. Beardbrand is a leading men’s grooming brand as of 2024. Eric put a lot of effort into creating this brand

In terms of a Beardbrand update, On Shark Tank, Beardbrand did not receive a deal. Eric Bandholz requested $400,000 in return for 15% of his business. Beardbrand was valued at $2.67 million as a result. The sharks were thrilled by Eric’s sales figures, but they disagreed with the estimate.

Daymond John, Lori Greiner, Robert Herjavec, Mark Cuban, and Kevin O’Leary all made the decision to pass on the offer. Some sharks believed the market for beard grooming was not large enough, and they felt the valuation was excessive. Despite not investing, the show aided in Beardbrand’s expansion.

Shark Names	Demand & Offer	Counter Offer	Accepted
Mark Cuban	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A

Beardbrand Shark Tank Pitch

At Merrill Lynch, Eric Bandholz was formerly a clean-shaven analyst. However, he had always cherished his beard. He was motivated after going to the West Coast Beard and Moustache Championships in Portland Oregon. Eric came to understand that there was a group of men who were particular about their style, grooming, and beards. There were no hippies or lumberjacks in this group.

Eric’s goal was to provide goods for “urban beardsmen.” Eric began Beardbrand in 2012 with a just $30 investment. He began by talking about the bearded lifestyle on his blog and YouTube channel. He soon began selling goods on the internet. Getting others to appreciate the importance of maintaining a well-groomed beard was one of Eric’s toughest obstacles. Beard kits and oils were viewed by many as unnecessary. Eric, though, was determined to alter that viewpoint.

In our Beardbrand update research, Eric presented his line of beard grooming products to the sharks during his Shark Tank pitch. He discussed the rising popularity of bearded males who are conscious of their upkeep and look. In return for $400,000, he offered the sharks a 15% equity share in his business. He clarified that accounting for 60% of sales, Beardbrand’s beard oils are the best-selling item.

Over the course of 17 months, the company generated sales of $800,000. By year’s end, it was expected to reach $1.2 million. Eric demonstrated to the sharks why the beard oils gave the beard a pleasant scent and softness. To demonstrate the standard of the products he gave the sharks beard kits. Although the sharks were pleased with the products, they remained skeptical about the company.

In regard to a Beardbrand update, The questions the sharks had for Beardbrand and its goods were numerous. When the beard oil was selling so well, Mark Cuban questioned Eric about why he was selling beard kits. Eric clarified that his goal was to create a full label for men with beards rather than just market a single item.

Lori Greiner wanted to know if the beard product industry was large enough. She even reached up to stroke Eric’s beard to feel its softness. Mr. Wonderful, aka Kevin O’Leary, was interested in learning more about the sales and valuation of the company. The numbers impressed the sharks. Some questioned Beardbrand’s development though.

The sharks’ opinions of Beardbrand were divided. Although he didn’t agree with the way the company was set up, Mark Cuban liked Eric. He believed Eric ought to concentrate on the best-selling beard oils. He was being overextended by the beard kits. Mark left because he didn’t think it would be simple to get his money back. Because he wasn’t into beard grooming, Robert Herjavec didn’t think he was the proper person to invest in.

 He left as well. Regarding the magnitude of the beard grooming market, Lori Greiner was unsure. She passed as well, figuring it might only be appealing to a select few, such as the Amish. The company’s valuation did not sit well with Kevin O’Leary. In his opinion, the company was not worth $2.67 million. Daymond Although he didn’t agree with the valuation, John still loved Eric. Ultimately, none of the sharks remained, and Beardbrand walked away empty-handed.

What Went Wrong With  Beardbrand  On Shark Tank?

On Shark Tank, Beardbrand was unable to get a contract. The sharks weren’t comfortable with the company’s asking price. With 15% equity, Eric was requesting $400,000, meaning the company was worth $2.67 million. The sharks were impressed with the sales figures.

They didn’t agree with the high valuation either. Certain sharks, such as Robert Herjavec and Mark Cuban, had doubts about the beard grooming industry. Lori Greiner said there might not be enough market demand, and Kevin O’Leary doubted he would be able to recoup his investment. The business sold well and had an item that is unique. However, the sharks were not convinced enough to put money into it.

Product Availability

Beardbrand items are available for purchase on their website. There, they have access to the entire selection of goods. Beard oils are priced in the mid-range by the manufacturer; they often go between $20 and $30. The cost of the beard kits is more, ranging from $60 to $70. Beardbrand’s online store accounts for the majority of its sales. Nonetheless, the business is fostering a robust bearded lifestyle community.

Conclusion

The experience Beardbrand had on Shark Tank was interesting. Despite not landing the deal, Eric Bandholz’s company expanded as a result of the show’s exposure. Beardbrand is still operating today and remains one of the top brands for beard care.

It has paid off because Eric has focused on creating a robust network for bearded males. The business now brings in millions of dollars a year. It is adding new products to its lineup. Because of Beardbrand, entrepreneurs can be successful even in the absence of a transaction. The secret is dedication and consistent effort.