As a veteran, Aaron Tweedie had to carry heavy equipment during his missions. He preferred to use a backpack because it was flexible. After retiring, he invented the stylish and durable Man-Pack and marketed it on Shark Tank. Although he didn’t make the deal, the Man-Pack is worth an estimated $4 million as of 2024.
Aaron Tweedie’s Background
Aaron Tweedie is from Winchester, Virginia and was born on December 25, 1979. However, most details about his early life are not disclosed to the public.
We know that he served as a radio operator and M-60 machine gunner for the Virginia National Guard in the late 1990s. Later, he attended Old Dominion University, a public institution in Norfolk, Virginia.
In 2006, he received his degree in Business Administration with a concentration in Marketing. He then founded his first company, a rental property and real estate investment company called Tweedie Enterprises LLC.
Founder Group
While it is common for women to carry handbags, men also need to carry things but have few options. Aaron said in his speech that the average man carries 4-5 pounds of stuff, such as keys, drinks and cell phones.
That’s why he designed a backpack with multiple designated compartments and multiple exterior pockets. Tweedie wanted a durable backpack that could stand up to the use of a construction site while still remaining stylish.
The young entrepreneur founded Man-Pack with just $500 of personal savings. He built an initial following among military personnel and sold $76,000 worth of bags in 2013. However, Aaron wanted to appeal to a wider audience, so he sought the help of angel investors.
Shark Tank Recommendation by Man-Pack
In 2014, Aaron appeared on the sixth season of Shark Tank. He asked for $200,000 for 29% of his company, a high valuation that hurt his chances of closing a deal. Although Aaron was a great salesman, the pitch didn’t go exactly as planned.
The former National Guardsman explained that people needed a convenient bag to be more prepared every day. Unfortunately, the Sharks could not understand the vision or profit potential of Man-Pack.
Mark Cuban and Robert Herjavec said the idea would probably be laughed at. Daymond John, Kevin O’Leary and Lori Greiner asked about the company’s performance, but ultimately they gave up. Tweedy left without a deal.
Shark Tank Post-Episode Updates
Although no deals were made, Shark Tank was a big help to Aaron. In fact, it helped him launch new product designs, such as the Spitfire, a messenger bag designed for gun owners. Before Shark Tank, the company was selling 30-40 bags a month, and now they are selling tens of thousands of bags.
After a Kickstarter campaign, he designed the Man-Pack 2.0, which is more durable, sleeker, and repositioned as an everyday bag. The products are available on Amazon and at Man-Pack.com.
In 2014, the year Tweedie joined Tank, he was doing about $65,000 in annual sales. Now, he’s doing $3 million a year, without the help of Sharks. Man-Pack is doing so well that the company is valued at $4 million.
Categories: Shark Tank
Source: dut.edu.vn
