Kronos Golf is a Golf putter-producing company with hand-finished putters. Now it’s a $5 million worth of business spread worldwide. They appeared in the Shark Tank season 6 episode 2.
So, Founders Erick Williams and Phillip Lapuz came with the hope of $150000 for 15% of equity. However, they got $150000 for 30% with Robert Herjavec. Then it ended up being one of the Shark Tanks Success Stories.
But how does the company reach a net worth of $ 5 million this year after the Shark Tank? Let’s find out more.
- 1. Kronos Golf Net Worth in 2023?
- 2. What is Kronos Golf?
- 3. Who are the owners of Kronos Golf?
- 4. What happened at the Shark Tank? | Does emotional Phillip get the deal for Kronos Putter?
- 5. Kronos Golf Shark Tank update
- 6. What Happened to Kronos Golf after the Shark Tank?
- 7. Kronos Golf Review
- 8. Who are the competitors of the Company?
- 9. Conclusion:
Kronos Golf Net Worth in 2023?
According to online sources, Kronos golfs Net Worth has been around $5 million since 2010. Also, the numbers can change with their increasing popularity.
|Kronos Golf’s Net worth before appearing on Shark Tank||1 Million USD (business valuation)|
|Kronos Golf’s Current Net worth (2023)||5 Million USD|
|Episode||Season 06 Episode 02|
|Company name||Kronos Golf|
|Founder||Phillip Lapuz and Eric Williams|
|Asked for||$150,000 for 15% Equity|
|Final deal||$150,000 for 30% Equity|
|Business status||In Business|
What is Kronos Golf?
Kronos Golf is a hand-finished golf putter production company. It’s located in San Diego, CA, USA. The company is famous for well-balanced putters. Also, now they are connected with retailers in Japan and USA.
Who are the owners of Kronos Golf?
On the other hand, Eric did d
Phillip Lapuz has a net worth of 1 Million USD, and Eric Williams has a net worth of 1 Million USD as of 2023. Different jobs, like teaching and software development. He is the creative director of Kronos now.
The emotional story of Phillip Lapuz’s love story is the base of companies’ success. Also, Philip Lapuz married his fiancée in 2017.
What happened at the Shark Tank? | Does emotional Phillip get the deal for Kronos Putter?
Philip and Erick pitched in Shark Tank, hoping for $ 150 000 for 15% of equity. Firstly, they describe how important golf putters to be precise. And they emphasize the way Kronos Golf hand made using seasoned craftsman.
“raise the standard of putter manufacturing one putter at a time.”
Kevin O’Leary was the first one to try the product. Also, he was interested in selling venues even though he missed the shot. However, the Sharks were surprised to hear more sales from Japan. Also, sharks sympathize with Philips’s emotional story.
Kronos golf putter builds using a solid block of steel. So, Philip explained that production is more time-consuming than mass production because it takes around two hours to mills.
However, Philip had invested around $100000 and had yet to profit. So, they seek the Sharks’ help.
Nevertheless, Mark Cuban decided to drop the deal because he hates Golf. Then Barbara Corcoran follows him. Lori Greiner also chose to stay out of the agreement after Barbara. However, Robert offered them $150000 for 35% of shares. But the duo tries to reduce it to 25% of the company. Finally, both parties agreed to $150000 for 30% of equity.
Kronos Golf Shark Tank update
Philips’s emotional stories about his fiancée also caught sharks’ attention. Philip needed to be stable financially before marrying his fiancée in Japan. However, Kronos Golf went through the deal soon after the show.
Kronos Golf earned around $250,000 at the time appearing on the show. Also, their production method attracted the Japanese market more than the US. The cheapest Kronos golf putter sold for $500. However, the retail price was $120. But the company sold them to stores at $200- 230.
What Happened to Kronos Golf after the Shark Tank?
The product got more attention after the Shark Tank show officially aired. So, their sales increased rapidly. They use the money to reinstall the manufacturing process. Also, they launched a site in Japan.
Following Kronos Golf got a chance to work with several retailers in Japan. Also, their products sell on Amazon Japan and they are now available in the US. The company offers more than 20 types of putters now.
Also, you can buy products from retailers like Nike, Adidas, and Callaway. They even specially produce putters for left-hand golfers. Also, their limited-edition series is famous among customers. However, Kronos Golf also sells golf accessories now. Also, Kronos Golf is successfully still in business in 2023.
Also, the product has 4.7 stars review on Facebook.
|2010||Phillip Lapuz and Eric Williams started Kronos Golf, the hand-crafted putters-making company|
|2014||Appeared in Shark Tank and was able to get a deal from Robert Herjavec|
|2015||Hinotori putter displayed on British Golf Museum|
Kronos Golf Review
Who are the competitors of the Company?
Kronos Golf appeared on Shark Tank in 2014. After the company gained more attention, a few other companies developed similar products. Some of them are Perfect Fit Putters. Tommy Ball Golf and Sentio Golf.
Kronos Golf named the product after a Greek god. It referred to the golden age when life was simple and pure. Also, the company dream of increasing the standard of putter manufacturing. It’s by producing one putter at a time. So, Kronos has become several million worths of businesses over the years.
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future of Kronos Golf and its continued success.
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