Guardian Bikes is a business that supplies bicycle brake components to other bike manufacturers. To be specific, Guardian Bikes supplies a cutting-edge and safe braking device that keeps bikers safe from serious accidents.
The secret to this braking device is that when the biker squeezes a hand brake, equal force is applied to both the front and the rear brakes. This reduces the chances of a wipeout and injuries.
Guardian Bikes has shown how serious bicycle and motorcycle accidents are and the importance of this device for both adults and children riding bikes. This braking mechanism is installed on bikes to prevent wheel locks and falls over the handlebar.
Guardian Bikes’ Net Worth
The net worth of Guardian Bikes is estimated to be around $3 million to $5 million.
Guardian Bikes’ History
Guardian Bikes was founded by Kyle Jansen and Brian Riley to secure and improve the world of bicycling. After one of the founder’s grandfather injured many vertebrae in a cycling accident, Brian and Kyle developed a safe braking mechanism to prevent head-over-handlebar crashes.
Before entering Shark Tank, Guardian Bikes focused mainly on distributing its safe braking system to other bike companies. The business had planned to start manufacturing its own bikes, but it required more capital to start the manufacturing process.
The business had generated about $95,000 in sales prior to entering Shark Tank. The founders were expecting to generate $350,000 by the end of the year.
Guardian Bikes During Shark Tank
Brian Riley and Kyle Jansen entered Shark Tank seeking $500,000 in exchange for a 10% stake in the company. They were looking for a Shark who could invest heavily in the business and help initiate the manufacturing process for the bikes with built-in safety brakes.
In the pitch, Brian and Kyle narrated how they started the business and how they have grown so far. They also explained the mechanism of the safety brake that Guardian Bikes primarily offers.
Barbara Corcoran was the first of the Sharks to leave as she did not consider Brian and Kyle as expert salesmen. She had wanted to work with partners who were competent enough as salesmen to convince Barbara to at least think about investing in the business.
Meanwhile, Kevin O’Leary, also known as Mr. Wonderful, offered $500,000 in exchange for a 20% stake in the company. He also asked the founders of the business to stop dreaming about initiating the manufacturing process for the bikes.
When Brian and Kyle turned their attention to the other Sharks, Kevin O’Leary left, not believing any further in the duo. Mark Cuban then offered $500,000 in exchange for a 15% stake in the company.
He also had three conditions that came with this offer: the technology must be unique, the business meets the sales target, and the founders hire an in-house public relations expert. Brian and Kyle accepted the deal.
What Happened to Guardian Bikes After Shark Tank Deal?
After the deal at Shark Tank with Mark Cuban, Guardian Bikes got a lot of exposure and a lot of people got to know about this brand. This also fortified the business’ presence on the internet and various social media platforms.
The deal with Mark Cuban went on as expected and all the conditions were met. Annual revenue for the company is estimated to be around $1 million and Guardian Bikes is up for business and performing well in its industry.