Mission Belt Shark Tank Update – Shark Tank Season 4
Nate Holzapfel came to Shark Tank Season 4 with a belt without holes and a mission, but where did that land him?
Entrepreneur Nate Holzapfel pitched his Mission Belt (a belt without holes) to the Sharks in Shark Tank Season 4 Episode 22.
Check out other Shark Tank Season 4 Episodes.
About The Mission Belt
| Category | Details |
|---|---|
| Business Name | The Mission Belt |
| Founder | Nate Holzapfel |
| Industry | Fashion Accessories |
| Product | Belt |
| Deal Status | Deal secured with Daymond John |
| Investment Asked | $50,000 for 20% equity |
| Deal Outcome | $50,000 for 37.5% equity |
Nate launched the company, The Mission Belt, in 2012 with a straightforward idea to sell sleek, well-made leather belts and use part of the profits to tackle hunger around the world.
Instead of donating food directly, Nate partnered with Kiva.com to fund microloans. These loans helped people gain the tools and knowledge to grow their food and build more sustainable incomes.
The question was whether any of the Sharks would back both the product and Nate’s bigger vision.
The Mission Belt Shark Tank Pitch
Nate came on Shark Tank with his own design of belts that he claims is better than the traditional ones. He told the Sharks he wanted to reinvent the belt, so he came up with a ratcheting mechanism for belt buckles that eliminates the need for holes. This allows for a perfect fit, without having that “in between space” belts with holes.
In 3 months, he had sold $39K worth of Mission Belts, and he’s looking to the Sharks for help with distribution. Nate also said with utmost confidence that he does not need any salesperson; he is enough.
All he needed was a shark for references, so he could make connections.
What Makes Mission Belt Unique?
The “No Holes” belt was different from conventional belts that fail to provide an exact fit for changing body measurements. Founder Nate believed his product beat its market competitors easily.
Although priced as a “bargain belt,” it has the look and feel of high-fashion belts many times the cost. The bonus of not being constricted like standard belts with holes sets Mission Belt apart from the competition.
One dollar from every sale went to fund micro-loans through Kiva.com to people battling poverty all over the world.
Did Mission Belt Get a Deal on Shark Tank?
What Happened to Mission Belt After Shark Tank?
Nate was honored to partner with Daymond. They generated $180K worth of belts the night they initially aired and over $1 million in the following month. They projected to make over $5 million in sales for the year.
Mission Belt continued to support Kiva.com, and Nate said being on Shark Tank was the best thing he’s ever done for his business.
Mission Belts went on to have NHL, NBA, and college-licensed Mission Belts available, too. The business featured in a Beyond the Tank Episode as well.
In 2017, Nate funded $1.5 million in microloans through Kiva.com. By July 2021, the company’s annual revenue had grown to $7 million.
However, in March 2019, talk show host Larry King won a default judgment of $250,000 against Holzapfel for using King’s likeness in marketing materials without permission. The dispute arose after they filmed a “mock interview,” which Nate later used as an endorsement without King’s consent.
In October 2021, Nate was arrested and charged with two counts of fraud. He had tricked a woman he was dating into signing her house over to a company he controlled. He later sold the house without her knowledge to pay off some debts.
Later in October 2021, a second victim came forward and accused Nate of defrauding her out of $50,000. He also sold her car and AR-15 rifle without her consent and kept the money.
In January 2022, a third victim was found. He persuaded this woman to write him a $100,000 check as an investment in a business and spent it on other items, according to reports.
Legal Troubles Continued
In March 2022, Nate was charged with two counts of forcible sexual abuse, a second-degree felony, and in a second case with two counts of theft, a second-degree felony.
Two more victims of his scam were identified at this time. In April 2022, Nate was arrested for inappropriately touching a woman and exposing himself to two women in an auto body shop.
In May 2022, he was charged yet again; this time with communications fraud. These charges stem from his unauthorized use of a woman’s credit card.
As of May 2022, the total charges against Nate include: 6 counts of communications fraud, engaging in a pattern of unlawful activity, 3 counts of theft by deception, 4 counts of forcible sexual abuse, theft, being an unlicensed broker, and 4 counts of lewdness.
In June 2023, Nate pleaded guilty as part of a plea agreement. Under the deal, he was required to repay $300,000 to his fraud victims, with each receiving between $50,000 and $150,000, avoid any contact with them, undergo mental health treatment, be listed on the state’s white-collar crime registry, and serve 48 months of probation.
However, in August 2023, a judge overturned the plea deal and entered a final judgment.
Nate was sentenced to 1 to 15 years in prison for communications fraud, along with three one-year jail terms for separate sexual battery cases. With good behavior, he could have been released in as little as two years, but he still had to pay $300,000 in restitution within 36 months of his release.
As for the business, which Nate has not been involved with since 2015, it’s doing around $5 million in annual revenue as of August 2023. The estimated net worth of Mission Belt is around $15 million to $25 million as of 2024.
Posts about Mission Belt on Shark Tank Blog
Read Belt with no Holes for a detailed take on our opinion of the Mission Belt.
Where Can You Buy It?
Mission Belt products are available on Amazon and through the official Mission Belt website, which often features special offers. The brand is also active on Twitter and Instagram.
Quick Summary
- Mission Belt is a “no holes” belt brand that offers a perfect fit.
- Founder Nate Holzapfel delivered a power-packed pitch to the Sharks.
- He secured a deal with Daymond, which helped his business reach new heights.
- Later, Nate faced personal challenges, including court cases.
Curious to know about other products that appeared on the same episode alongside Mission Belt? Check out their business updates.
can you license this to watch companies.
THIS IS A LIE THEY DID NOT INVENT THIS FOR ONE I USE TO BUY THESE BELTS IN MEXICO FOR LESS THAN $10 AMERICAN IN THE 90’s I AM 45 YRS OLD NOW >>THERE IS ONE GUY WHO STARTING MAKING OR SELLING THESE IN COLLEGE AT B.Y.U HE’S CLAIMING THAT IDEA CAME FROM SWEDEN I BELIEVE HIM. MORMONS WILL STEAL YOUR IDEAS AND THE MORMON COMUNITY KNOWS THIS IF NOT ASK JIM RECTOR FROM DRY GUYS RESTORATION IN MESA AZ AND ARRON FROM ARIZONA PACK OUT NOT ALL MOMOS ARE THIEVS BUT KNOW MANY THAT DO I GIVE A COMPLETE ZERO TO HE LEFT OT HESE CLOWNS AND DENOUNCE THEM TYO SHARK TANK A THEY DESERVE TO BE CALLED OUT. GUESS SAME THING HAPPEN TO CORN TORTILLAS WHEN DORITOS WERE INVENTED
The belt I ordered looks quite different than in the pictures on the website, and the company wants me to pay shipping to return it. They won’t back up their product and marketing, at least not without putting the customer through a hassle. Misleading customer guarantee, followed by failed customer service.