Life Belt

Life BeltRobert Allison brings his passion for saving lives, and his product, Life Belt, to Shark Tank episode 102. Allison has taken out a patent on his product, which is designed to stop drivers from operating their vehicle without first buckling their seat belt. When properly installed, the Life Belt system actually prevents the car from starting. He created the Life Belt after a loved one lost a sister to a car crash.

Allison owns a patent on his product, putting him in a strong position to bargain, but will he be able to ensnare a Shark deal for Life Belt?

Life Belt Shark Tank Recap

Allison comes before the Sharks asking for a $500,000 investment, in return for a 10% stake in the company. His vision is to put the Life Belt in as many cars as possible. Traffic accidents are the leading cause of death in the country, and a properly worn shoulder harness can reduce the chances of fatality as much as 86%. Allison believes his product will save lives.

The Sharks are sympathetic, and Kevin Harrington loves the product and wants to know more about the cost and profit margin. Allison explains that he has a local shop installing them, at a cost of $229. Harrington feels the installed cost is a little high. He wants to know if the average person could install the unit themselves. Allison says yes, they could. Robert Herjavec loves the idea, but thinks taking one to a mechanic for installation is too much trouble.

Kevin O'Leary asks why Allison hasn't gone to the major car manufacturers and offered the patent to them. Allison says that at least one of the Big Three American auto makers is very interested, but he's concerned that it will take them five or more years to begin installing the Life Belt in new cars. He's not willing to wait that long. Barbara Corcoran says that she loves the product, but doesn't see him selling the product. She's out. Harrington follows on the basis of the valuation represented by his request. Daymond John goes out for the same reason.

Kevin O'Leary offers Allison $500,000 for 100% of the patent. Robert Herjavec ups the deal. He offers Allison $1 million for 100% of the patent.

Allison turns down the offer. Kevin O'Leary asks if there's any price. Allison says yes – he wants to make the company a national brand. He doesn't want the product to be purchased and sit on a shelf. Herjavec tells him that the last thing any of the Sharks would do is put the product on the shelf, that they want to get it out on the market so they can make money. He still refuses to sell.

Allison leaves the Shark Tank with full ownership of his Life Belt product, and no Shark deal.

Life Belt Shark Tank Update

Soon after the Shark Tank appearance, Allison signed a “multi-million dollar” deal with a Texas chain of auto dealerships. The dealerships were to offer the product to their customers on all the cars, new and used, that they sold.

Today, there's no sign of the Life Belt on the dealership's websites, and the only presence online is a website, but without the option to buy the product. It seems that, in spite of Allison's lofty ideals, the life-saving product was never brought to the market in a meaningful manner.

Posts About Life Belt on Shark Tank Blog

LifeBelt Robert Allison Shark Tank Update

Life Belt Information

Website

Comments

  1. I think he was a genuine guy that needed someone with a business oriented background willing to sell it for him and it would’ve skyrocketed. I think the sharks are rude & unmotivated people that are trying to pursue their great ideas. I would enjoy this show if they weren’t such a**holes. I would never want to hangout with these people. Specially the guy with the receding hair line he is nasty and mean.

  2. Shi….they offered to make him an instany millionaire and would have taken his product ro places he never could.
    There was a much larger chance his product would be all over the country now.
    He couldn’t do it on his own so why does that make the sharks the bad guys?

  3. The guy really didn’t have a patent on it if you did was only a patent on how it locks that’s why he never wanted to turn it over that’s why there’s no sales do it I knew it all along walking in the Shark Tank

  4. You knew that it was a messed up deal from the very beginning all you have to do is look at what he’s at today that’s all that matters that tells you everything 2019 no sales nobody’s heard of the product it’s over the guy was so stubborn you could have took some money at did worlds of good for his family he’s thinking about saving the world you better save yourself first before you save the world

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