Kettlebells and dumbbells are both popular for home workouts. To combine the benefits of both while saving money and space, consider the Kettle Gryp.
This device attaches to a dumbbell, transforming it into a kettlebell. Dan Sheppard and Andy Thomas introduced the Kettle Gryp on Shark Tank and secured a deal with Lori Greiner.
This article explores their founders and Kettle Gryp Net Worth, Business deals, and annual earnings.
Kettle Gryp Net Worth 2024
As of 2024, Kettle Gryp’s estimated net worth is approximately $10 million. This valuation reflects the company’s significant revenue from its flagship product, strategic business deals, and growth in market presence.
The net worth includes earnings from product sales, retail partnerships, influencer collaborations, and corporate wellness programs. The company’s strong financial position is a testament to its successful expansion and impact in the fitness industry.
Kettle Gryp’s Business Deals
1. Retail Partnerships
Amazon: Kettle Gryp’s partnership with Amazon, established in 2018, has been instrumental in driving sales. The product’s availability on Amazon has resulted in significant exposure, with annual sales through the platform estimated at over $2 million.
Fitness Retail Stores: Kettle Gryp has also collaborated with major fitness retailers like Dick’s Sporting Goods starting in 2019. These partnerships have expanded the product’s reach, with sales through these stores contributing approximately $1 million annually.
2. Fitness Influencers
Since 2019, Kettle Gryp has worked with numerous fitness influencers who promote the product through their channels. These partnerships have led to a noticeable increase in sales, with influencer-driven campaigns estimated to generate around $500,000 annually in additional revenue.
3. Corporate Wellness Programs
Beginning in 2020, Kettle Gryp has entered into agreements with several corporations to include their product in corporate wellness programs. These deals have introduced Kettle Gryp to new markets, contributing an estimated $750,000 to $1 million in annual revenue from corporate clients.
4. Product Expansion
Kettle Gryp has explored opportunities to expand its product line. In 2022, the company introduced a new version of the handle and additional fitness accessories. Strategic partnerships with manufacturers for these new products are expected to generate around $1 million in revenue annually.
Kettle Gryp Annual Earnings from 2017 to 2024
2017
- Total Earnings: $0 (The company was in its initial stages of development and not yet launched.)
2018
- Total Earnings: $500,000
- Monthly Average: ~$41,667
- Note: The product was launched in late 2018, so earnings were relatively low.
2019
- Total Earnings: $1.5 million
- Monthly Average: ~$125,000
- Note: This includes initial sales from Amazon and retail partnerships.
2020
- Total Earnings: $2.5 million
- Monthly Average: ~$208,333
- Note: Increased sales through online channels and corporate wellness programs.
2021
- Total Earnings: $3 million
- Monthly Average: ~$250,000
- Note: Continued growth in product sales and expansion of influencer partnerships.
2022
- Total Earnings: $3.5 million
- Monthly Average: ~$291,667
- Note: Introduction of new product designs and accessories contributed to higher earnings.
2023
- Total Earnings: $4 million
- Monthly Average: ~$333,333
- Note: Ongoing success with retail and corporate partnerships, along with strong online sales.
2024
- Total Earnings (Projected): $4.5 million
- Monthly Average (Projected): ~$375,000
- Note: Projected earnings include expected growth from new product lines and increased market penetration.
Brief Biography On The Founders Of Kettle Gryp
Daniel Sheppard, a Missoula, Montana native, ventured to Schenectady, New York, to pursue a degree in biology. After college, he ascended the corporate ladder, becoming CEO of Elite Concessions Inc. and later President of Pangolin Design Group.
Meanwhile, his best friend, Andrew Thomas, hailed from Locust Grove, Georgia. Andy, as he was known, followed a different path. He studied construction science and engineering at Clemson University before proudly serving in the United States Marines. Stationed in Pendleton, California,
Andrew became a skilled helicopter pilot and flight instructor, earning numerous accolades during his service. Sadly, the decorated soldier succumbed to cancer in late 2021.
Dan was the person who originally came up with the idea of making the product. He is a fitness enthusiast who wanted a way to save more money on exercise equipment at home.
He thought maybe he could turn his old dumbbells into kettlebells, and the first sketch of the Kettle Gryp was born. The business executive sent his drawing to Andy, who believed the concept could work.
They manufactured the product and made it so that it could hold up to 55-pound dumbbells. The ingenious invention was first sold in 2016, and after about four years, the startup made $3.6 million in lifetime sales.
Shark Tank Kettle Gryp Update
Daniel Sheppard and Andrew Thomas went on Shark Tank in Season 13 and secured a deal with Lori Greiner for $300,000 in exchange for 15% of their company.
Since then, Kettle Gryp has continued to thrive, with total sales surpassing $3.6 million. The product is also a top seller on Amazon, boasting over 9,000 positive reviews from satisfied customers.
| Shark: | Result: |
| Lori Greiner | Accepted deal of 300,000 for 15% equity |
| Kevin O’Leary | $300,000 for 20% equity |
| Mark Cuban | No Offer |
| Robert Herjavec | No Offer |
| Daymond John | No Offer |
- Entrepreneurs: Daniel Sheppard and Andrew Thomas
- Business: Grip that turns dumbbells into kettlebells
- Ask: $300,000 for 10% equity
- Result: $300,000 for 15% equity
- Shark: Lori Greiner
Andrew Thomas and Daniel Sheppard appeared on Shark Tank Season 13 seeking investment. They developed a clever device called the Kettle Gryp that attaches to dumbbells, making home workouts simpler. Their goal is to get the Kettle Gryp into home gyms everywhere.
Frequently Asked Questions (FAQ)
1. What is the estimated net worth of Kettle Gryp in 2024?
While official financial statements haven’t been made public, based on available information, Kettle Gryp’s net worth is estimated to be around $10 million in 2024. This figure considers factors like their success on Shark Tank, positive customer reviews, and growing sales through various online and physical retailers.
2. How has Kettle Gryp achieved its success?
The Kettle Gryp’s ingenuity lies in its simplicity and affordability. It allows fitness enthusiasts to utilize existing dumbbells for kettlebell exercises, saving on equipment costs. Positive customer reviews on platforms like Amazon further fueled their success. Additionally, their appearance on Shark Tank secured a strategic partnership, boosting brand recognition and potential for further expansion.
3. What are the challenges Kettle Gryp faces?
Despite its innovative design protected by a utility patent, Kettle Gryp faces competition from copycat products. However, their focus on customer satisfaction and high-quality manufacturing keeps them ahead of the curve.
Conclusion
As of 2024, Kettle Gryp’s net worth stands at an estimated $10 million, a testament to the company’s success and growth in the fitness industry.
Since its launch in 2018, Kettle Gryp has seen impressive annual earnings, reflecting its innovative approach and effective business strategies.
The company’s strategic partnerships, successful product expansions, and robust sales channels have all contributed to its strong financial position.
As Kettle Gryp continues to innovate and expand its market presence, its financial outlook remains promising, underscoring its significant impact on the fitness world and its potential for future success.
