Mission Belt was introduced as a revolutionary belt that is adjustable with all body types and its unique design does not get to lose your pants. A belt with No-Holes comes with only a single strip, that is simple to put in and put off.
It comes with a Shiny Buckle and a built-in ratchet that fluctuates with the friction of an inch. It is designed to give a better fit to its users no matter their body type “One Belt is Fit for All”. It comes in various color options along with their Buckles too.
It is made up of leather canvas and nylon, having a unique release leaver and a tilting ratchet that adjusts by a fraction of an inch. Each and every tooth of the strip gives you a different size. These three components together create a “Last Belt you Ever Buy”.
Mission Belt at a glance
|Episode No.||Season-4, Episode-23|
|Founder||Nate Holzapfel and Zachary Holzapfel|
|Asked For||$50,000 for 20% of equity|
|Accepted Deal||$50,000 for 37.5% of the equity|
|Business Status||In Business|
|Buy on Amazon||Buy Now!|
Mission Belt was founded and developed by two young brothers “Nate Holzapfel and Zachary Holzapfel”. It was invented to give proper fitting to their customers’ pants, Nate Holzapfel and Zachary Holzapfel were successful entrepreneurs before the show, they gain popularity by coming into ABC’s famous reality TV show Shark Tank.
After the show both were interviewed by various News Channels, Mission Belt founders are also introduced that how they help small entrepreneurs around the globe by providing Microloans to them (especially for farm and agri-businesses).
They tie ups with Kiva to give loans as for every belt sold they put $1 towards funding microloans and less developed countries. They give funds to others so they can buy cows, buy equipment for their farms and become “self-sustaining and independent”.
Did Mission Belt get a deal on Shark Tank?
Mission Belt was introduced by Nate Holzapfel in the Shark Tank show where they tell about its feature and wanted to impress the sharks to get a deal, also he introduced about their microloan programs to them. Shark found that product interesting and the product is actually becoming a problem solver to many peoples.
- Sharks was bit not satisfied with their valuation of the company as he wants $50,000 at 20% in the valuation of $250,000 which is a bit high for the company.
- Owners informed that before the show it is able to generate sales of last 3 months is approx. $39,000.
- Each piece of Mission Belt was sold at $35 and the cost to manufacture it is approx. $6.
- The company is able to save almost 60% of gross profit on sales.
After that, they receive an offer by Daymond Jhon of $50,000 but at 40% of the company. They give him a counteroffer of the same at 30% of equity. Daymond again offers him 37.5% and they accepted the deal. That’s how they get a deal on Shark Tank.
What happened to Mission Belt after Shark Tank?
After the show, they receives massive popularity and were interviewed by various news houses for their product and their microloans programs too. Mission belt receives a massive demand for their unique design and multilevel fitting. The owners increase their production and started distributing them to various parts of the country with the help of its 35 employees.
- They are able to reach sales of $119,000 in a few months after the show.
- In a few years, their sales mark up to $1 Million and save a gross profit of approx. $600,000.
- In the year 2017, they sold nearly 2 million Belts and raised more than $25 Million in revenue.
- Currently, the company plans to start a women’s line next year.
Competitors of Mission Belt:
The competitors of Mission Belts are as follows:
- Anson Belt: Anson Belt was founded in 2009 and it produces way more similar products as Mission Belts produces. Anson Belts Headquarters are located in Beaufort, North Carolina USA.
- Groove Life: It is an online retailer of trekking accessories for men and women’s both. It was founded in 2015. Its Headquarters is located in Spring Hills, Tennessee USA.
Following is the difference between revenue and employees of different companies:
|Mission Belt||2-35||Approx. $25 Million|
|Anson Belt||1-25||Approx. $5 Million|
|Groove Life||100-250||Approx. $25 Million|
Net Worth of Mission Belt:
At the time of the shark tank appearance, Mission Belt was valued at around $133,000 million. After the show, its sales and revenue increased very sharply, and in just a few months the company is able to generate a revenue of $119,000.In a few years, its sales reached $1 Million.
Until 2017 they give $74,093 as loans, as an average member can get approx. $514.5 as their loan. They give loans to nearly 144 people and businesses.
The net worth of the company is approx. $25 million as of 2017, the current data about it is not available.
Is Mission Belt still in Business?
Mission Belt is still in business and performing very well, its revenue is increased up to 30 times till they come into the show. Today Mission Belt is a well-known name in America.
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What is Mission Belt?
Mission Belt was introduced as a revolutionary belt that is adjustable with all body types and its unique design does not get to lose your pants.
Who founded Mission Belt?
Mission Belt was founded and developed by two young brothers “Nate Holzapfel and Zachary Holzapfel”. It was invented to give proper fitting to their customers’ pants, Nate Holzapfel and Zachary Holzapfel were successful entrepreneurs before the show, they gain popularity by coming into ABC’s famous reality TV show Shark-Tank.