The Shark Tank presentation of Robert Allison from Las Vegas, Nevada, was in 2009. He showed Lifebelt, a gadget intended to keep individuals from driving without a safety belt – saving them lives.
At the point when an auto is outfitted with a Lifebelt, the motor won’t turn over until the Lifebelt is clasped. Allison mentioned $500,000 for a 10% stake in her business on Shark Tank.
Kevin O’Leary, a shark financial backer, offered Allison $500k for the patent. Robert Herjavec earned anything offer for the patent. Allison turned down the two offers.
What is a LifeBelt?
Life Belt is a wellbeing highlight incorporated into cars that keep them from beginning in the event that the safety belts are not gotten.
Vehicles furnished with LifeBelt can’t begin or drive without a safety belt, forestalling driver interruptions.
LifeBelt Shark Tank Update
This innovation works by closing down the motor until the driver and all travelers are locked in. Moreover, this substance can help guardians who drive with kids in the auto.
An alarm will sound at whatever point an individual endeavors to unfasten their safety belt while the vehicle is moving. Robert Allison planned the existence belt in 2009, and was presented in 2010.
Organization Name LifeBelt
Founder Robert Allison
Product Device To Prevent People To Drive without Seat Belts
Venture Seeking $500,000 For 10% value in LifeBelt
Last Deal No Deal
Shark No Shark
Episode Season 1 Episode 22
Status Out of Business
Availability Facebook
Who is the Founder of LifeBelt?
Robert Allison is the pioneer behind The LifeBelt. This security gear was made because of his companion’s demise in an auto collision, which motivated him to keep individuals from driving carelessly or without playing it safe.
Life Belt was at first an item for his folks and collaborators, yet he looked to extend its advancement and improvement. The school transport instrument ought to be coordinated into school transports to guarantee understudy wellbeing.
Robert initially sold this thing at a local shop. His objective, notwithstanding, was to introduce this innovation in however many vehicles as could be expected under the circumstances. He picked Shark Tank to pitch the task along these lines.
LifeBelt Before Shark Tank
The Lifebelt’s fundamental page, NoBuckleNoStart.com, contains an abundance of data. The Lifebelt site doesn’t propose to arrange the safety belt expansion, yet guests can comprehend how it functions.
As per the Installation Instructions booklet, an expert in auto hardware ought to be counseled for Lifebelt establishment because of its intricacy.
This manual likewise subtleties the right wire codes and works and investigating ideas.
The Lifebelt Operation Manual depicts the Lifebelt framework’s activity inside and out. The manual contains a rundown of the cautions that clients ought to hear, an investigating guide for those with hardships, and data about the Lifebelt ensure.
Allison made an instructive aide for youthful drivers for Lifebelt’s site guests. The aide incorporates data and tales about underage drivers.
How Was The Shark Tank Pitch of LifeBelt?
Robert Allison showed up on Shark Tank mentioning a venture of $500,000 in return for a 10% stake in LifeBelt. He expects to introduce the Life Belt in whatever number cars as could be allowed.
Coolbox: Smart Toolbox Shark Tank Update
The Sharks didn’t track down LifeBelt adequately rewarding to put resources into it. Robert Allison left Shark Tank without getting any arrangement from Sharks.
Last Deal: No arrangement among LifeBelt and Sharks.
How Does LifeBelt Make Money?
Robert Allison wanted that this framework be placed in however many vehicles as possible. He needs that the general population fathoms the meaning of this item.
Robert Allison promoted Life Belts in neighborhood organizations. For $229, he introduced the framework. Notwithstanding, Life Belt is additionally accessible on the web and is very clear to introduce.
He got orders from a few public shippers following his appearance on Shark Tank. He was charged by dealers like Autozone and Hendrick Automotive.
The Life Belt was accessible on the Safety Mom Direct site for a concise period.
What is the Net Worth of LifeBelt?
Allison moved toward Shark Tank with a proposal of $500,000 for a 10% stake in a business esteemed at $5,000,000. Allison later concurred with the Gillman Automotive Dealership.
He brought $1.7 million for Life Belt. Gillman wanted to have lifebelts introduced in both new and more established vehicles. Allison, as recently said, likewise got orders from different dealers.
Who is the Investor of LifeBelt?
Robert Allison has gone into a multimillion-dollar concurrence with Gillman Automotives. Gillman, as Allison, wanted to have this innovation introduced in all vehicles.
Allison benefited altogether from this agreement, as the arrangement’s worth was $1.7 million, and the normal income before the year’s over were something like $10 million. In any case, there has been no update since.
What is the Revenue of LifeBelt?
As indicated by Daymond John Blogs, Robert Allison expected to procure $30 million toward the finish of 2010 in the wake of figuring out an agreement with Gillman Automotives and gathering orders from public stores.
Tragically, no extra data on the arrangement is accessible from Allison or Gillman Automotives. The Life Belt site page was last refreshed in 2020, albeit the item was inaccessible for procurement. The Gillman Automotive site doesn’t seem to sell the Life Belt.
Life Belt is additionally not accessible on the sites of different showrooms.
What has been going on with LifeBelt After Shark Tank?
Robert Allison, who turned down 1,000,000 dollar offer from the Sharks, as of late protected an arrangement worth 1.7 million bucks with a conspicuous vehicle sales center.
Ransack hopes to acquire $30 million by March 2010 through orders from public shippers (like AutoZone and Hendrick Automotive).
LifeBelt Shark Tank Update
Robert Allison said he needs to get LifeBelt into whatever number vehicles as would be prudent. Nonetheless, a basic check of the LifeBelt site uncovers that the gadget isn’t accessible for buy internet, demonstrating that he isn’t selling it. I’m not even certain it’s available to be purchased right now.
I went over an update from the 2010 show, in which Robert Allison reported an organization with a solitary showroom in Houston, TX, The Gillman Automotive Group, to supply the item to their clients in general.
Unfortunately, a quick assessment of the Gillman Auto Group site uncovers no proof of the LifeBelt item.
I led extra exploration, seeing the Facebook Fan page, which showed no advancement and little movement.
Robert Allison publicizes permit bargains in a solitary post, yet no official statements or data on how clients could get the item.
This doesn’t look good for his endeavors to get the news out about his item. He professes to save saved seventeen lives.
Robert Allison is an exceptionally good, amiable person who is benevolent. In any case, it has proactively been quite a while since the item would have been added to the producers’ stock lines.
At last, laying out LifeBelt as a public brand won’t bring about lifesaving. Remembering it for the production network of new vehicles will bring about the best generally life investment funds.
Assuming that you have any data in regards to LifeBelt, if it’s not too much trouble, reach us. We need to see Robert Allison and LifeBelt succeed. Deplorably, LifeBelt doesn’t seem, by all accounts, to be where Robert Allison planned.
What Is the Net Worth of LifeBelt?
The valuation of LifeBelt was $5 million when it showed up on Shark Tank. The total assets of LifeBelt is obscure starting around 2022 since the organization left business in 2017.
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