A shirt collar that simply won’t stay on has never irritated everybody. After you make one correction, it flips around and looks messy again. Keeping a collar nice might be difficult, whether you’re wearing it for a formal meeting or just wanting to look put together.
Jonathan Boos took action after realizing how serious this issue was. He founded Wurkin Stiffs, a line of men’s fashion accessories that offers magnetic collar stays as a novel remedy for this collar problem. His magnetic technique makes sure collars don’t need to be adjusted frequently throughout the day in order to stay sharp and in place.
Jonathan presented his innovative idea to the sharks in Shark Tank, expecting them to recognize the benefits of a straightforward yet efficient fix. He requested $85,000 for 10% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Wurkin Stiffs update to find out!
Wurkin Stiffs Net Worth 2024
Jonathan Boos asked for an $85,000 investment in exchange for 10% equity in his company. This meant he valued his company at $850,000. He made a deal with Daymond John and Barbara Corcoran for $100,000 in exchange for 40% of his company. This new deal valued his company at $250,000. After the show aired, Wurkin Stiffs saw a significant increase in sales, market reach, and product line expansion. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Wurkin Stiffs in 2024 is about $16 million.
Wurkin Stiffs Shark Tank Update
As for the Wurkin Stiffs update, Wurkin Stiffs enjoyed significant growth after the airing of the Shark Tank episode. Jonathan remained in contact with Daymond John, and his business prospered, even though the show’s deal failed as planned. With a current market worth of more than $16 million, Wurkin Stiffs has increased the range of products it offers by adding men’s business accessories such as wallets, cufflinks, and other stylish pieces.
One of the most popular goods from Shark Tank was Jonathan’s brand, which furthered the company’s success with exposure to the show. As of today, Wurkin Stiffs is still operating, providing both new and inventive goods besides its recognizable magnetic collar stays.
Yes, Jonathan Boos was successful in securing a contract on Shark Tank. Daymond John and Barbara Corcoran made him a joint offer, which he eventually accepted after intense talks. They offered to give 40% of the company’s shares for $100,000. Jonathan saw the value in their connections and experience and accepted the deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daymond John and Barbara Corcoran | $100,000 for 40% equity | N/A | Yes |
| Robert Herjavec | 1# $100,000 for 30% equity 2# $100,000 for 25% | $200,000 for 30% equity | No |
| Kevin O’Leary | 1# $100,000 for 30% + 14% royalty 2# $100,000 for 20% + 14% royalty 3# $100,000 for 15% + 14% royalty | N/A | No |
| Daymond John | partnership with Barbara | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Wurkin Stiffs Shark Tank Pitch
Jonathan Boos had no intention of starting a business. He only wanted to find a solution to maintain his shirt collars neat and in place, which was a personal issue. He saw that his collar constantly seemed to slip off, no matter how hard he tried. This inspired him to use some paperclips and magnets to make the first magnetic collar stay prototype. Jonathan realized many people could use his product, and he recognized others might experience the same problem.
Like many other entrepreneurs, Jonathan had to overcome the initial barrier to making a concept a reality on a tight budget. He persevered and eventually got his items into stores like Nordstrom before he even made an appearance since he had a clear solution to a widespread issue.
With confidence, Jonathan went into Shark Tank and requested $85,000 for 10% ownership of Wurkin Stiffs. He showed the sharks how the magnets in his magnetic collar kept the collar tucked in securely. The sharks were drawn in right away by the product’s efficacy and simplicity. He distributed samples for them to examine directly.
According to Jonathan, Wurkin Stiffs are already becoming popular; all Nordstrom locations carry them. He projected sales would reach $1.8 million in the upcoming year, demonstrating to the sharks that this was a product with significant growth potential rather than merely a niche offering. Keep reading our Wurkin Stiffs update to see what happens next!
After listening to the pitch, sharks didn’t have many queries about the product.
Mark Cuban thought the idea was great. He didn’t think he would make a good partner.
Robert Herjavec questioned the current sales figures. He was thrilled when Jonathan replied they were expected to make $1.8 million that year.
Daymond John asked why he needed investment. Jonathan clarified that, besides financial support, he also required help to make connections and grow the company.
Mark Cuban, despite having a fantastic concept, left the company early because he lacked the network for this kind of business.
Kevin O’Leary: The royalty structure turned Jonathan off to his serious $100,000 offer for 30% equity and a 14% royalty. Jonathan wasn’t happy when Kevin later reduced the equity to 20% but kept the royalty.
Barbara Corcoran and Daymond John: Barbara offered $100,000 for 20%. Later, Daymond joined him and insisted on increasing the equity to 40%. Jonathan eventually agrees to their plan, seeing potential in Daymond’s knowledge of fashion, even with the high equity price.
Robert Herjavec liked the product and was impressed with the sales figures. He offered $100,000 for 30% equity.
Product Availability
From our Wurkin Stiffs update research, Products from Wurkin Stiffs are sold on their official website, Wurkin Stiffs, and in big-box stores like Nordstrom and Amazon. Beyond magnetic collar stays, the company provides a variety of men’s fashion accessories such as wallets, cufflinks, and other products to enhance men’s appearances. Their goods are advertised as being both fashionable and useful, and their prices are competitive.
Conclusion
Wurkin Stiffs began as a straightforward company that kept collars in place, but it has already expanded into a successful business. Jonathan’s experience on Shark Tank provided him with the connections he needed to grow and helped expose his product to a larger market.
Wurkin Stiffs’ constant growth has made it one of the most notable success stories of Season 2. It will be interesting to watch what fresh improvements the company brings to the menswear industry as it grows. Watch Wurkin Stiffs for upcoming additions and changes!
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
