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Manpack Shark Tank Update

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Manpack is a backpack company that makes different kinds of bag packs, especially for men. They have a wide variety of items that contain bag packs, traveling bags, carry bags, etc. their products are specially designed to remove different utility problems a man can face during traveling.

They put different options in a single bag such as a smartphone pocket, external pen holders, laptop and tablet pockets, and different small blogs to hold chargers and earphones along with a small mini pouch that holds your IDs and Credit Cards. It comes in various varieties and colors that one can select their best fit according to their needs.

Manpack at a glance

SeasonSeason-6, Episode 8.
Business IdeaBackpacks Company.
FoundersAaron Tweedie.
Asked For$200,000 for 29% of equity.
Accepted DealNo Deal.
SharksNo Sharks.
Business StatusIn Business.
WebsiteManpack
Buy on AmazonBuy Now!

Index:

Founder Details

Manpack is founded and developed by a young entrepreneur and an Ex-Military man called Aaron Tweedie, as military personnel, they were facing the challenge to carry various pieces of equipment in their backpacks. They searched for various solutions but can’t find any, they started researching it and find that on average a man can lift 20-30 kgs of weight in their backpacks in a very unorganized way.

Also, they have to face various other problems in finding the right thing at the right time, therefore they invented their company Manpack, which especially designs backpacks and travel bags for men only. They provided various dedicated blogs and sections in their backpacks along with some instantly used outer pockets. , manpack is a  way to carry your stuff in a very organized way.

Did Manpack get a deal on Shark Tank?

Manpack is introduced as a backpack company in ABC’s famous reality show Shark Tank in Season-06, Episode-08, by Aaron Tweedie, they introduced her products to sharks and explains their features and specifications as manpack has various dedicated sections to carry your gadgets, books, equipment’s and much more.

They gives their samples to sharks and asked for $200,000 for 29% of the equity in their company. Sharks found the product interesting and asked him for their sales, they explains about their sales as they made $76,000 in sales a year before the show and $65,000 in the current year till the show.

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Each unit is sold at $59.95 which costs him to manufacture is $22.05 per unit .they sold 145 units this year till the show and his last month’s sales were 40 units online. Sharks love its product but can’t find any relevant business in it as their sales figures cannot justify their valuation also the area of this product is highly competitive. Therefore all sharks backed themselves and they left without any deal.

What happened to Manpack after Shark Tank?

After the show Manpack receives a huge demand as it becomes a national identity also, they launched their Kickstarter campaign back in 2015, to redesign and repackaging their manpack models.

They introduced various other manpack models such as Man-pack 2.0. This is sleeker,  more durable, easy to carry, and rebranded from a men’s satchel to an “everyday carry” bag or EDC. The price is also increased as each unit is sold at $69.99. Currently, it is available on Amazon, and its original website is also in a few retail units.

Competitors of Manpack

Manpack’s competitors are as follows:-

  • Moving Staffers.
  • Resources Packs.

Following table show’s difference between their Employees and their Revenue:-

CompanyEmployees Revenue
Manpack 1-25Approx. $100-5 Million.
Moving Staffers25-100Approx. $5-25 Million.
Resources Packs1-25Approx. $100-5 Million

Net Worth of Manpack:

After the show, it gains a massive hike in their sales as they didn’t get a deal on the show but they receive a huge market in exchange for that, as the company is still in business its revenue on November 21, is approx. $3 Million annually. Their valuation is increased up to more than $3 Million from $700,000 when they appear on the show.

Is Manpack is Still in Business?

The company is still in business and its revenue is increased up to 4.5 times since it appears on the show. They have annual revenue of $ 3 million as of Nov 2021.

Man-Pack Social Links:

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What is Manpack?

Manpack is a backpack company that makes different kinds of bag packs, especially for men. They have a wide variety of items that contain bag packs, traveling bags, carry bags, etc. their products are specially designed to remove different utility problems a man can face during traveling.

Who founded Manpack?

Manpack is founded and developed by a young entrepreneur and an Ex-Military man called Aaron Tweedie, as military personnel, they were facing the challenge to carry various equipment in their backpacks.

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