A Revolutionary Snap-Around Bracelet to Secure Weights During Workouts
SnapClips is a snap-around bracelet that keeps weights securely in place during a workout. Martin Dimitrov invented the product while he was still in high school. He wanted to create higher-quality, easier-to-use white-collar gym accessories, so he made a prototype using slap wristbands. When his fellow students loved his idea, he launched a Kickstarter campaign in the spring of his senior year.
Martin was confident in both his business skills and the quality of his products. He was using military-grade Kevlar, which added to the high strength of the rubber-fabric blend. People who had participated in his survey were now using his products, and Martin knew that the next formidable step was Shark Tank.
He wanted to grow his company by selling bulk orders directly to gyms. As a result, the young entrepreneur appeared on stage, claiming that his innovation is the best in the market and pitching the idea of $150,000 in exchange for a 15% stake in his company. The sharks adore the product’s simplicity and potential applications.
The Shark Tank Experience – SnapClips’ Rise to Success
Soon after, the negotiations begin, and two of the five judges appear disinterested in the product and the product industry. However, Greiner finds the patent “interesting” while guest shark Alex Rodriguez offers to collaborate. As negotiations continue, the other three judges (Mark Cuban, Lori Greiner, and Alex Rodriguez) appear to find common ground with a 10% stake each for $150,000 and Martin lands a one-of-a-kind successful deal on Shark Tank.
SnapClips Today
SnapClips’ appearance on Shark Tank was a game changer. By the end of 2018, the product was sold in 30 countries, had its shop, and was negotiating a private label deal with CrossFit. After appearing on Shark Tank, the company continues to remain in business and is doing an estimated $5 million in annual sales.
During Dimitrov’s “Shark Tank” pitch, Greiner suggested that the product could also secure cables or garden hoses. Dimitrov agreed, but at this point, SnapClips is still focused on ensuring weights. The company did update its design, and SnapClips are now available in over 30 different varieties.
Today, SnapClips are still commonly seen on the market and online forums. People are still buying, and it can be seen selling out pretty fast on Amazon. It’s worth noting that the design is easy to use and practical, making it one of the best gym purchases for people who actively go to the gym, work out, and are fitness enthusiasts.
