Beer fanatics are present all around the world. No matter the event, beer fanatics can’t do without a cold light beer. Beers are a staple, especially in the US, whether they’re enjoying a national game on television or relaxing after a busy work week on a Friday night. Beers are the celebratory beverage; still, there wasn’t a single technology to remedy warm beer.
The same thought had occurred to Matt Campbell when he was enjoying a lazy day at the beach with his uncle. The duo drank their beers from the cheap red plastic cups like any other human. However, the scorching heat made the light beer lose its original taste as it warmed up.
Matt had a light-bulb moment when he thought out loud regarding putting the beer bottle in a stainless steel bottle commonly used to keep water cool. And that’s where the idea and design for Bottlekeeper came into existence. Matt teamed up with his cousin Adam Callinan, and the duo started on their journey to a successful business.
Bottlekeeper started as a crowdfunding business as the duo wanted to see the demand for the product before investing their all in the business. They launched the business in 2013 and started selling insulated bottles to keep the beer bottles cold and protected even after breaking the seal in 2014. The business had done so well that the same year’s December, they were out of products.
Apart from the issues with streamlining the supply chain, the cousin duo could not generate any profits as they used their entire sales for manufacturing. Hence, they needed the money and ideas of a shark to streamline the supply chain management and help them out of the financial rut. Bottlekeeper appeared on Shark Tank’s season 10, seeking an investment of $1 million in exchange for 5% equity in the company.
Despite the sales of more than $10 million over five years before appearing on the show, the sharks thought the deal to be ambitious. Mark didn’t like the deal the duo was offering and decided he didn’t want to be a part of the business. Kevin was certainly impressed with the numbers, but he didn’t know how he could structure the deal.
Kevin decided to offer $250K for 10% equity with an additional $750K as a credit at an 11% interest rate. Guest shark Alex was interested in investing and loved Kevin’s offer, and together they offered a new deal that’d serve the company and the sharks. They agreed on investing $500K in exchange for 20% equity and the remaining $500K as a line of credit at an 11% interest rate for three years.
Lori offered a million dollars in exchange for 3% equity in the company and a royalty of $3 until it summed up to $2 million. Adam countered Lori with $1 million for 3% and a $1 per unit royalty until the sum makes $1.5 million. Mark liked the offer and jumped back in, raising the equity on Adam’s counter offer to 5%.
Lori and Mark decided to team up for the deal and offer the cousin duo $1 million in exchange for a 5% stake in the company with $1.5 royalty per unit until a sum of $2 Million is obtained. The cousin duo accepted the offer welcoming the two sharks on board.
Our Review of Bottlekeeper
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Bottlekeeper has turned out to be a profitable business owing to the millions of beer fanatics all over the country. The demand is especially high during summer months when beach parties are at their peak, and cold beer is a must. Bottlekeeper can be used and carried at different locations, including games making the business profitable due to the increase in events since the pandemic.
The business had a hard time making a profit before Shark Tank. However, the 300% surge in sales since their appearance on the reality show contributed to the business’s growth, along with the deal with two incredible sharks. The company has a valuation of $20 million as of 2022.
Pros of Bottlekeeper
In a short time, Bottlekeeper has found a community of beer fanatics that keep coming back for the incredible products that keep beers cold and protected. The incredible customer service is another pleasing aspect of the business. Here are some things customers love about the business:
- Bottlekeeper keeps your beer from getting warm as warm beer isn’t the most desired beverage during hot summer months.
- The insulation keeps the beer from losing its freshness regardless of the environment you’re in or the activity you’re doing.
- The freshness and coolness can last for hours when beer is enclosed within a Bottlekeeper.
- The sturdy design protects the beer bottle, so even if the bottle’s tossed at someone, it won’t break.
- Bottlekeeper comes with a top opener for beer bottles to avoid the hassle of finding one.
- Bottlekeeper also comes with a screw-on top to protect the bottle and the beer and seal the open bottle effectively to block out dirt and dust.
- Bottlekeeper has a variety of products for its customers designed for beer bottles, cans, and even pints to serve a cold beer regardless of the customer’s serving preference.
- Bottlekeeper makes the different beer servings portable to different locations.
- Saving the bottle from breaking protects people around from getting injured.
- The award-worthy customer service has kept the customers coming back.
Cons of Bottlekeeper
Despite having a loyal customer base, some things haven’t worked in favor of Bottlekeeper:
- The products of Bottlekeeper serve no other purpose for the customers other than keeping the beer cold and its glass bottle protected.
Who Is Bottlekeeper For?
You’ll certainly want your hands on this product if you’re a beer lover. Bottlekeeper keeps your beer cold for hours so that you can enjoy it in time and places as per your preference. The open beer bottle would stay absolutely fresh for hours without causing any trouble with the beer’s taste or strength.
The insulation and the protection provided by Bottlekeeper make it a perfect accessory to own or gift to a fellow beer lover.
Are There Any Alternatives?
There are no proper insulation containers manufactured only for beer in the market other than Bottlkeeper. Hence, there are no alternatives or competitors in the business. You can use a container with insulation lining to keep your beer cold for hours, but it’s not always guaranteed to be as effective as Bottlekeeper. The product is one of a kind and sells like hot cakes in the market.
Our Final Thoughts
Bottlekeeper is a unique business idea that has continued to grow as per people’s demand. The business, with a simple insulator bottle design, has been able to make millions because it listened to its customers and fulfilled their needs. The variety of products added to the collection of Bottlekeeper since their launch is incredible and has kept the business in demand.
In the upcoming years, we’re likely to see more of Bottlekeeper as the unique business has no competition so far. The constant addition to the products and the never-ending demand for cool beers will keep the business going on an upward trajectory.