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BeerMKR Shark Tank Update

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Beer is a necessity for many people and drinking beer is a habit for many. What if some way was invented to make it at home following simple steps? BeerMKR is an application that helps people brew beer at home. Sounds interesting? BeerMKR is a countertop craft-brewing application that is all-in-one. To make beer through BeerMKR, one has to go through three steps- Brewtub, Brewbad, and Waste bag.

Beer can be created easily and can consume in the comfort of one’s home. No refrigeration is required. The BeerMKR app is used to brew and also control the temperature of the beer. Inside the machine are sensors for temperature, and pressure, a thermoelectric heat exchange assembly, and Wifi functionality. Brewing is simple to set up. Open the BeerMKR and add the grains and tap water to the top container. After that, switch the machine on by sealing the container, and it will enter the mode for liquid grains. Open the machine, add the yeast and hops, and then restart it for the subsequent five and seven days. The pressure and temperature within this Beermkr will be carefully controlled.

BeerMKR at a Glance:-

IdeaBeer making machine
FoundersAaron Walls and Brett Vegas
Asked For$500,000 for 2% equity
Accepted DealNo deal
SharksNo Sharks
Business statusIn Business
Episode No.Season 12, Episode 23
WebsiteBeerMKR
Buy on AmazonBuy Now!

Index:

Who are the founders of BeerMKR?

Aaron Walls and Brett Vegas are the founders of Beermkr. It was founded in 2013 and it was named as BrewJacket. Aaron and Brett are real professionals in education too. Aaron had completed his graduation in Business Administration from Cornell Johnson school.

Aaron had worked for more than 5 years in the PKF hospitality research center, whereas Brett completed his PG in MBA from Cornell Jonhson and has experience working in my corporate fields. Brett joined the Beermkr in 2017, before that Aaron was the only hand for BeerMKR. Aaron and Brett did a Kickstarter campaign and raised funds thrice for their expectations.

Did BeerMKR get a deal on the Shark Tank?

Aaron and Brett came on the shark tank show seeking an investment of $500,000 for an exchange of 2% equity. They explained their whole business idea and how they finally reached there. Aaron explained how their machines work. Brett shared that they sold around 1200 units during their Kickstarter campaign. Sharks tasted their beer and were very impressed.

Founders shared that they had already raised the fund amount of $3 million. Barbara Cocoran went out due to third-party involvement. They appeared in the shark tank show in season 13, episode 26. Mark Cuban did not like the idea of business and went out. Lori Greiner did not like the valuation and went out. Alex loved the idea but did not offer any deal. On the other hand, Kevin O’Leary gave an offer of $500k as a loan at an interest rate of 9% along with 4% equity in the business.

See also  Plate Topper Shark Tank Update

Aaron gave a counteroffer of $500k at a 9% interest rate for 2% equity. Kevin cut down the equity rate to 3% for BeerMKR. Aaron and Brett were not ready to give up on their equity and left the show with no deal in their hands.

What happened to BeerMKR after the shark tank show?

After the show, the journey did not seem to be easy for the founders. They got traffic on their website but were not able to retain or get potential customers. After the show, they again did another campaign to raise funds to expand their business. Founders gave their 200% on the show but were not able to hit any shark. They also shared a post on their website about their beer brewing.

During the pitch, they came up on the show, seeking a valuation of 25 million, they had already raised funds at a valuation of $5 million before their appearance on the show. After the show, they are doing a crowd campaign to raise funds. 

Before the show, they did a sales of 1200 units, after the show the figure improved but was not maintained. You can buy Beermkr either from their website or through Amazon. BeerMKR costs $375 to make and is sold for $499 in the market. They have also won the gold medal in the National Homebrew competition. Beermkr + Beer tap is now available for $749 as per Holiday sales so just grab the deal

As of 2022, they are active through both platforms. Further updates related to the sales will be added soon. Currently, they have raised their price to increase the rate of profit margin per unit. 

Competitors of BeerMKR are:-

There are no direct competitors available for Beermkr in the market. Competition is necessary to cut down the monopoly. There is various big tycoon who manufactures beer but is not the direct competitors for Beermkr.

What is the net worth of BeerMKR?

The estimated net worth of BeerMKR is $3 million as of 2022. During the pitch, they came up with a valuation of $25 million which got rejected by all the sharks. After the show, the valuation of the firm increased.

Is BeerMKR still in business?

BeerMKR is still available in business and is doing good. They are currently offering the best deal on their website. After the show, they also won the gold medal in National Homebrew. Bizz Bucket wishes them great success and stability in business.

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FAQs:

What is BeerMKR?

Beermkr is a countertop craft-brewing application that is all-in-one. To make beer through Beermkr, one has to go through three steps- Brewtub, Brewbad, and Waste bag.

What's the net worth of BeerMKR?

During the pitch, they came up on the show, seeking a valuation of 25 million, they had already raised funds at a valuation of $5 million before their appearance on the show. After the show, they are doing a crowd campaign to raise funds. 

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