Wurkin Stiffs Before Shark Tank
The reason why Jonathan Boos decided to design and create a product like Power Stays is because he knows what kind of hassle it can be to get ready in a hurry. He states that he was running late for a dinner reservation, and his wife was getting angry at him. At that moment, he quickly put on his shirt; however, he was having troubles keeping his collar straight. He quickly took a paperclip and a small magnet in order to make a makeshift collar holder, and he found out that it actually worked rather well. By doing so, he came up with the idea for Power Stays, which are very easy to apply to any collar. On any kind of shirt.
Jonathan Boos states that he is not really in the need for financial support from any of the Sharks, especially since he has been selling Wurkin Stuffs all over the United States; however, he does need the expertise to bring his product to the next level. For this reason, he decided to appear on the Shark Tank, hoping to partner up with Daymond John.
Wurkin Stiffs During Shark Tank
“Jonathan Boos walks confidently and stands in front of the Sharks”
Jonathan Boos starts his presentation by introducing himself to the Sharks, stating that he is the owner of the men’s brand Wurkin Stiffs, as well as the inventor of Power Stays, which is the world’s only magnetic collar stays. Jonathan Boos states that he is seeking an investment of eighty five thousand dollars, in exchange for a ten percent stake in his company.
Jonathan Boos continues his presentation by saying that this all started when he was running late for a dinner reservation, and his wife was yelling at him to hurry up. He states that his wife threw a brand new shirt at him, for him to put on for dinner.
According to Jonathan Boos, he was having a problem, because the shirt made him look like John Travolta from Saturday Night Fever. The collar was all large and in charge, and he couldn’t get it to look good, which made him look for a solution. He went and found ordinary paper clips and magnets, and thus made the very first magnetic collar stay. Jonathan Boos states that he hasn’t worn a shirt the same ever since he came up with this product.
“Jonathan Boos presents the Power Stay and shows the Sharks how to implement it”
Jonathan Boos first takes the Power Stay and places it in the collar stay pocket, which every shirt should have in its collar. After that you put the collar down and place the small magnet in the inside of the shirt, which holds up the collar nicely.
“Jonathan Boos walks over to the Sharks and hands out Power Stays for them to look at”
Jonathan Boos states that there is nothing similar to Power Stays in the men’s wear industry.
Kevin O’Leary states that the Power Stays are spectacular and that he really likes them.
Jonathan Boos states that he knew he had something special when he acquired three high-end men specialty stores.
“Daymond John asks Jonathan Boos what retailer he sold Power Stays in”
Jonathan Boos answers the question by saying that Nordstrom contacted him and wanted to do a test with Power Stays in twenty four of their stores, to see how much interest there will be in the product. Jonathan Boos states that within three months, they went up to seventy seven stores, sold over eighteen thousand units and made over six hundred thousand dollars in sales. According to Jonathan Boos, Power Stays are currently in all hundred and fifty Nordstrom stores in the United States of America.
Kevin O’Leary states that Jonathan Boos is the real deal, especially with this much interest.
Jonathan Boos agrees with Kevin O’Leary and states that he has designed and produced every single one of his products, from packaging, displays to the products themselves.
“Robert Herjavec asks Jonathan Boos what his sales are in all of his products combined”
Jonathan Boos answers the question that he has sold around five hundred thousand dollars in products, and that he is expecting nearly two million dollars in sales the next year.
“Daymond John asks Jonathan Boos what he is going to do with the eighty five thousand dollars as an investment from the Sharks”
Jonathan Boos answers the question by saying that Daymond John should already know what he is going to do with the eighty five thousand dollars, which is to rotate his brand to the next level. Jonathan Boos states that in order to do that, he needs to partner up with somebody that knows what they are doing to get him and his brand there. Jonathan Boos continues by stating that he has so many different products, some of which are still on drawing boards, while others are being developed already.
Mark Cuban states that he loves Jonathan Boos’ passion, knowledge and approach, but he is not the person with the right connections and who could add value to Wurkin Stiffs. Mark Cuban states that he is out, because he doesn’t think he could help Jonathan Boos.
Barbara Corcoran immediately cuts in and states that she doesn’t think she could really do something for Wurkin Stiffs, which is why she doesn’t want to invest and is out as well.
“Jonathan Boos asks Robert Herjavec if Kevin O’Leary just offered him a loan”
“Kevin O’Leary nods his head up and down as an answer”
Kevin O’Leary states that Jonathan Boos is going to need cash in the end, and he is making him an offer, which he should never disrespect.
Jonathan Boos states that he doesn’t like Kevin O’Leary’s deal at all.
Kevin O’Leary states that he does like the deal, because he knows that Jonathan Boos is going to need cash. This is also the reason why he believes that Jonathan Boos is going to call him every single time, asking him for more money, and if things go well, he will keep getting money from Kevin O’Leary.
Jonathan Boos states that it is great there is an offer on the table, and asks if anyone else want to make an offer on Power Stays.
“Robert Herjavec asks Jonathan Boos why he doesn’t like Kevin O’Leary’s offer”
Jonathan Boos answers the question by saying that he needs more than money. He continues by stating that he needs somebody that could really help him.
“Robert Herjavec and Mark Cuban both look at Daymond John, as they believe that Daymond John is the right guy to partner up with Jonathan Boos”
Jonathan Boos states that Daymond John started his business by selling hats, after which he created an empire of a brand.
“Jonathan Boos asks Daymond John why he is looking at him like he couldn’t turn Wurkin Stiffs in a very successful brand”
Daymond John answers the question by saying that he never said Jonathan Boos couldn’t make it as a successful brand. Daymond John continues by stating that people who are successful have thoughts of high value, and people who are not have thoughts of low value.
“Jonathan Boos interrupts Daymond John before he is even done talking”
Daymond John states that he was actually going to throw an offer on the table, but because Jonathan Boos keeps interrupting him and not letting him speak, he is out.
Kevin O’Leary states that Jonathan Boos absolutely pissed Daymond John off.
Daymond John states that to clarify what he was trying to tell Jonathan Boos, the reason why he will be wealthy is because he has thoughts of high value. Daymond John continues by stating that he was trying to give Jonathan Boos a compliment, but when he was trying to talk, he could not even get across and speak to him.
Jonathan Boos states that Daymond John took forever to speak.
“All of the other Sharks start laughing out loud to what Jonathan Boos just said”
Daymond John continues by stating that he cannot stand partners that cannot even speak to, and if Jonathan Boos would have shut his mouth, he would have had an offer.
Jonathan Boos states that he is apologizing to Daymond John, and that he didn’t mean to offend or hurt Daymond John’s feelings, but he thinks that Daymond John is missing out.
Barbara Corcoran states that Daymond John is such a baby, and that he should just cut it out and make Jonathan Boos the offer that he was going to originally do anyways.
Robert Herjavec states that Jonathan Boos really hurt Daymond John’s feelings.
Jonathan Boos tells Daymond John that he will talk to Robert Herjavec now as a last chance to get an offer, and states that Daymond John should just sit there and think about an offer.
“Kevin O’Leary asks Jonathan Boos if he wants to accept his offer or not”
Robert Herjavec states that he would happily make an offer of a hundred thousand dollars, in exchange for a thirty percent stake in Wurkin Stiffs.
“Jonathan Boos asks Robert Herjavec if he would go up to two hundred thousand dollars, in exchange for a thirty percent stake in Wurkin Stiffs”
Kevin O’Leary states that he will drop the equity that he is asking for to twenty percent, but he still wants the fourteen percent royalty stake.
Robert Herjavec states that he will give Jonathan Boos a hundred thousand dollars, in exchange for a twenty five percent stake in Wurkin Stiffs. Robert Herjavec also mentions that it is his final offer, and that he will not go any lower than that.
Barbara Corcoran decides to go back in and states that she is willing to make an offer. Barbara Corcoran offers a hundred thousand dollars, in exchange for a twenty percent stake in Wurkin Stiffs, provided that Daymond John forgives Jonathan Boos. Barbara Corcoran promises that she will be the front woman and that Daymond John never has to deal or talk with Jonathan Boos.
Daymond John states that the percentage is not enough, and that he cannot accept anything lower than a forty percent stake in Wurkin Stiffs. Daymond John continues by stating that the difference is that he has a lot of fashion knowledge, which makes up for the difference.
Kevin O’Leary states that he is willing to go even lower in equity to fifteen percent; however, the royalty stake of fourteen percent stays.
“Jonathan Boos asks if Daymond John and Barbara Corcoran are willing to accept a thirty percent stake in Wurkin Stiffs, for a hundred thousand dollar investment”
Daymond John answers the question by saying absolutely not.
After thinking for several moments, Jonathan Boos decides to accept Daymond John’s and Barbara Corcoran’s offer.
At the end interview, Jonathan Boos states that he almost blew the deal with Daymond John because of his big mouth; however, Barbara Corcoran managed to bring Daymond John back to the table, which he really appreciates.
Wurkin Stiffs Now in 2024 – After Shark Tank Update
Wurkin Stiffs, the innovative company that revolutionized men’s fashion with their magnetic collar stays, made a hefty splash when they appeared on the popular reality TV show, Shark Tank. The founder, Jonathan Boos, presented his unique product with conviction, winning over Kevin O’Leary who invested $100,000 for a 25% stake in the company. But what happened to Wurkin Stiffs after Shark Tank?
Initially, the company enjoyed a significant boost in sales and visibility. Being featured on a platform like Shark Tank provided a golden opportunity for the brand to reach millions of households across America, and they capitalized on that well. The company saw a meteoric rise in their online sales. Retailers from all over the country were scrambling to get Wurkin Stiffs products on their shelves.
However, the company faced a major hurdle when they discovered that their patented product was being copied and sold by other brands. This led to a legal battle which proved to be a drain on both time and resources for Wurkin Stiffs. Despite the setback, the company stood firm and continued to fight for their unique product.
Throughout this challenging period, Wurkin Stiffs remained committed to its mission of providing high-quality products for men. They expanded their product line to include other innovative accessories like wallet systems and bags. They also focused more on their online presence and direct-to-consumer sales which proved successful.
As of 2024, Wurkin Stiffs is still in business. If anything, the brand has become synonymous with quality and innovation in the men’s fashion industry. Their products are now sold in over 1000 retail stores across the world and have garnered rave reviews from customers.
