BeatBox Beverages Networth Update – Shark Tank Success Story – SE16EP13

Welcome all, to another but surely not the last success story of an exceptional company with sensational products – BeatBox Beverages!

BeatBox Beverages is well on its way to becoming the best beverage company after featuring in Shark Tank season 6. Even though they had a fair share of hurdles, they have always overcome those obstacles to capture an exceptional market share.

While I’ll be sharing the product review in a while, you may also check out some really cool and must-have Shark Tank products featured in season 16 here.

Highlights

• BeatBox Beverages featured in Shark Tank season 6, almost 10 years ago.
• At the time of the pitch, the company was valued at $2M and asked for $200K for 10%.
• Mark Cuban secured the deal by offering $1M for 33% of the company.

A Little Background

Justin Fechel, Aimy Steadman, and Brad Schultz came in with high hopes of getting a deal from the respectable sharks. Their product was unique in its own way – a ready-to-make cocktail drink.

That said, it would ring anyone’s ears to see a $2M valuation, especially a saturated product where the consumers have a lot of options. However, BeatBox Beverages walked the talk as they had already generated around $230K in sales. Now, that is quite an achievement in a highly concentrated market with so many major competitors.

As their pitch progressed, the audience, along with Sharks understood that BeatBox Beverages had sorted their financials as well. For instance, at that time, a 5-liter box only cost $4 to make. But, it sold for $19.99! See the difference?

Below, after rewatching their original pitch, I have deduced important metrics that you must know of:

No One is Stopping Them

To this date, BeatBox has generated over $350M in sales. How did they do this? I’ll make a separate heading for it to discuss because it’s a marvelous approach.

Nevertheless, a company that started with only 1 full-time employee now has 210 people working happily. Not just this, the Shark Tank episode sky-rocketed the product’s demand. As of now, BeatBox Beverages owns two state-of-the-art manufacturing facilities that can produce around 100M BeatBox beverages a year.

Plus, it wouldn’t be wrong to say that BeatBox’s Fort is in Texas, and there alone, they are available in around 100 stores. Nationwide, you can find BeatBox in over 120,000 stores across 50 states, including major retailers such as 7-Eleven and Walmart.

BeatBox Beverages Secret to Success

Some products rely on heavy marketing tactics, and some, which everyone wants, can miss out on marketing. BeatBox Beverages is one such company that only relies on a “word of mouth” marketing strategy. People try their product, they love it, and recommend it to their loved ones, and it creates a never-ending cycle. And, this is what I was talking about.

These guys have mastered the art of marketing by word of mouth, and hence, don’t need to spend a dime on marketing. Although they do, as any other company does, the point is, that their marketing game is so strong that even if they opt out of it, they’d be safe.

For instance, since airing on Shark Tank a decade ago, BeatBox Beverages has done over 1,000 music festivals all over the country. Not only this, but they are also an official sponsor of the Professional Bull Riding League. Lastly, they’ve got the Big Shaq on their side.

The NBA legend is seen promoting their beverages in different festivals. So, capturing so many eyeballs in such outdoor events, I don’t believe they’d ever need any other medium for marketing.

Will They Stay the Same?

Coming to my favorite part, the assumptions. Even though it was hard to scrap all the data, I’ve finally done some careful calculations to understand if BeatBox Beverages will stay on track. Till now, I believe they would because they’ve done the hard part – creating an identity for their business.

Now, as for what the future holds for them, I’m pretty hopeful for it as well. Look at how they’d do and what net worth they would achieve in the coming years yourself:

Also Read Previous Pitch in Shark Tank Season 16 Episode 13

• DomeDock Shark Tank Review Update
• Hella Awkward Shark Tank Review Update