Beardaments Net Worth – From Gimmick to Million Dollar Business!

If you’re bored of traditional Christmas looks, try Beardaments. These festive ornaments can be attached to your beard or other body hair. Founder Jason McOmber pitched the company on Shark Tank and landed a deal with Kevin O’Leary. As of 2024, Beardaments is valued at $2 million.

Jason McOmber’s Background

Jason McOmber is originally from Salt Lake City, Utah and graduated from Weber State University with a degree in Technical Sales. While in school, he worked as an Associate in the Leasing Consulting Group at Varilease.

Near graduation, Jason was offered a major position at Groove Satellite and Entertainment, where he served as Vice President of Sales for over three years.

In 2014, the Utah native was hired as director of sales for DSI Systems Inc. Six years later, he was promoted to senior director of sales and most recently to vice president of enterprise sales.

Festival ideas are born

At a Christmas party, after a few drinks, Jason experimented with putting various things on his beard. Everyone thought it was hilarious, and it inspired him to create authentic holiday decorations for bearded men.

He started selling Beardamaments, colorful accessories that can be clipped onto just about anything, especially hair, in 2015. Jason has extensive experience in digital marketing and uses his SEO skills to drive traffic from Google.

In the first year, the company’s revenue reached a staggering $80,000. In the second year, revenue exceeded $155,000, and in the third year, sales reached $462,000.

Making Holiday History on Shark Tank

Although it’s a seasonal business, Beardament has been steadily increasing its profits. In 2019, McOmber applied to Shark Tank in hopes of turning the stunt into a million-dollar business. He appeared on Shark Tank Season 11, seeking $150,000 in funding in exchange for a 10% equity stake.

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He entered the tank with Santa and the elves. To really emphasize the holiday spirit, he recited poetry during the promotion. When he talked about the sales, the sharks were pleasantly surprised.

After hearing the numbers, the Sharks realized the founders could make a killing themselves. Kevin O’Leary was the only one interested. He offered $150,000 for 25% of the company, and Jason took the deal.

Success after Shark Tank

The Shark Tank exposure helped Beardamaments generate over $600,000 in revenue in 2019. While sales figures have not been released recently, Beardamaments should have made over $1 million. Due to their novelty, they have been featured in publications such as the Daily Mail and Cosmopolitan. Additionally, their videos on social media have been viewed over 200 million times!

As expected, the company has expanded its product range. They now sell women’s hair accessories, shirts, earrings, and sweaters. You can buy them on Amazon and their website Beardaments.com. Beardaments Lights is now priced at $19 and includes 12 beard ornaments.

On Amazon, the original Beardament set has 3,593 reviews and a 4.4-star rating. Christmas sales are strong, and the company is now planning to make beard decorations for other holidays. Beardaments is currently valued at $2 million. Jason has retained his full-time job and has no plans to quit.

Categories: Shark Tank
Source: dut.edu.vn

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