The Robots toy brand enthusiast, creator, and businessman Drew Beaumier launched his company Drive Suits. The company got debited on Shark Tank America, in November 2012, episode 9 of season 4. Since its appearance on the show, outfits have grown and achieved enormous success.
Additional money and alliances were also attained by them. With good conception and performance, they attracted the audience and explored their marketplace.
Will any particular Sharks adapt to this unique outfit? Discover the additional details by reading ahead.
About the Founder
Drive Suits were created by Drew Beaumier. Before creating this apparatus, he studied artwork and movies. Drew still runs his Robots and Cars Entertainment Company nowadays.
Drew introduced Drive Suits after spending several years in traveling and refining the performance.
However, he had no financial proof and required an associate to start doing extensive manufacturing and shipping.
Founding the Drive Suits
Outfits that are potentially transformed into cars were being promoted by Drive Suits. This notion came to his mind after kneeling to change the outfit into a car.
In the Drive Suit, you can drive on four legs while donning an action-packed outfit. At the wrist and ankle part of the suit, a rotating device is placed. Due to a shift in objectives, the business adopted the name Robots and Cars Entertainment.
Shark Tank Appearance
Beaumier claimed that he desired the Sharks’ financial assistance as well as their commercial knowledge. He proposed $150,000 for a 20% ownership stake.
Robert Herjavec demanded to see the Drive Suits’ hand-controlled engine personally right away.
As youngsters were involved in this product, Barbara Corcoran expressed worries regarding the security inherent in the Drive Suit.
Beaumier was forced to acknowledge that he had little revenue when Kevin O’Leary went to the figures. Before launching the good, he was encouraged to work out the trademark issues. O’Leary advised him to focus on the significant toy manufacturer and actively seek a trademark.
By advising Beaumier to not worry about the production side of the company and focus on the financial prospects given by a product like this, Mark Cuban altered the proposal’s focal point.
Regarding Beaumier’s best alternatives with the goods, O’Leary and Cuban clashed. The other Sharks abruptly withdrew as well.
Later on, Cuban made Beaumier a $150,000 deal in exchange for 40% of the company’s stock. Beaumier considered the deal before selecting O’Leary’s proposal, who countered with $150,000 for 30%, subject to Drive Suits forming a joint venture with a toy manufacturer.
After Shark Tank
The deal between Cuba and Beaumier failed to go through. Nonetheless, he pushed his company into American Idols, the Canadian Discovery Channel. Additionally, he was featured on the Shanghai China Show Happy Valley. Drive Suits continues to be in operation as Robots and Cars Entertainment.
Beaumier changed his initial strategy to sell outfits to the general public into a business that provides pleasure, where performers don the costumes for occasions.
Despite the events that transpired on the show, Drive Suits firm by Beaumier, which was in its infancy, is currently reportedly valued at over $1 million.
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