This is one of the first bib overalls that hold cans or bottles of your favourite drink, so you can work and play at the same time. In addition to being a fun clothing idea, the two founders of the company, Garret Lamp and Taylor Nees, also pitched it to Shark Tank.
Muff Waders Net Worth
There was no deal reached, but later on, the company was acquired by another company. The estimate of Muff Waders Net Worth is to be $6 million by the year 2024.
About the Founders:
Garret “Buddy” Lamp is a childhood friend of Taylor “Earl” Nees. They have both spent some decades growing up in Holstein, Iowa. It is no coincidence that they both grew up in a small town and both had similar dreams as a child. There is not much information available on the education of Earl, but Buddy studied advertising at Iowa State University.
While attending college, Garrett worked various odd jobs to support himself. Initially, he served as an equipment manager for the football club at his school and then worked as a video producer for Drone DirectorE after graduating.
Also, he worked as an intern for Merrill Manufacturing Company as well as Iowa State University’s College of Agriculture and Life Sciences, where he produced videos. In the years following his graduation, he was hired as a video producer and content curator at Corteva Agriscience and Hy-Vee respectively.
Founding Muff Waders:
A few days after going to the bar during the football game, Taylor came up with the idea for the business that has become part of his life. After work, he wished that he kept his overalls on so he could carry all the beer with him. In the morning of the following day, Taylor sketched to make his wish a reality.
After a while, he came up with the idea of making an overall that could hold cans and bottles in several compartments. Among its most notable features were the six-pack cooler on its chest as well as the opening for bottles and the cup that came with it.
Garrett worked on the business part-time since he just had a baby and he needed a steady income to support his family. As The Besties’ first venture in the world of business in 2018, they invested $75,000 in Muff Waders. When they went on Shark Tank, they launched a Kickstarter campaign that failed, but by the time they reached the top, they had done $54,000 in sales.
Muff Waders Before Shark Tank:
Taylor Ness was the first person to come up with the idea. There was a football game that he wanted to watch at a local bar, and he went there to watch it. To hold all his beer, he wanted an overall that could hold all of them. The following day, he drew a rough sketch of the product and started working on it.
He decided to develop an overall that had several compartments and pockets for storing bottles and cans, and finally, he came up with a design. On the chest, there was a cooling bag that stood out as one of the most notable features.
In 2018, Taylor formed a partnership with Garett to launch the company together. A Kickstarter campaign was organized to raise funds for the project. However, they did not have much luck with that.
Muff Waders After Shark Tank:
As part of their pitch to Shark Tank in 2021, Garett Lamp and Taylor Ness offered a $25,000 investment in exchange for a 25% share of their company, who agreed to take part. However, neither of the founders was able to acquire a single deal as a result of their efforts.
In a later report, it was announced that the start-up company had been purchased by Stevia Nutra Corp. Since the year 2021, there have been no financial details released by the company. During the six months preceding the sale, the company made sales amounting to $250,000 before being sold.
CONCLUSION
Unfortunately, none of the Sharks seemed interested in accompanying the two Iowans as they sought to negotiate a business agreement with the Muff Waders Company and accompany them on their journey.
Despite this, they plan to continue to grow as a company and continue to offer customized products to their customers while still growing as a company!
The best of luck to them and their company in the future, and we hope that they can do even more in the future.
Frequently Asked Questions:
1. Why are they called muff waders?
Buddy, one of the company’s co-creators, explained that the concept of Muff originates from the words manly and tough because that is the level of manliness they strive to achieve for the target audience.
2. What is a muff wader?
Muff waders are clothing items, much like an overall, that are not only stylish but also very functional, especially if they come with a pack cooler on the chest, extra pockets for cans and bottles, and a score of other features.
3. What is the valuation of Muff Wader?
Following Muff Wader’s Shark Tank episode in 2014, they experienced tremendous growth and expanded their business to the point where they brought along a lot of traction, and they are currently valued at $500,000.
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