Drive Suits Shark Tank Update
Drew Beaumier, a fan of the toy company Transformers, an artist, and an entrepreneur, entered the Shark Tank to acquire $150,000 in exchange for 20 percent ownership in his Drive Suits company.
As soon as Beaumier realized that robots were cool when he was still a child, he transformed himself into a humanoid, robotic, motorized vehicle.
The early stage of Beaumier’s Drive Suits business was featured on an episode of Shark Tank. Despite everything that transpired, the company is estimated to be worth around one million dollars.
Will any Sharks undergo a metamorphosis due to wearing this novelty costume? Continue reading to find out more.
What Are Drive Suits?
Drive Suits advertised suits that could be converted into cars. The person could crouch down and transform the suit into an automobile once it was put on. The Drive Suit is a superhero-style costume you can wear and drive on all fours. A wheel is mounted at each wrist and ankle of the suit.
The company was rebranded as Robots and Cars Entertainment due to a goal change. The new organization is not in the business of selling Drive Suits. You can hire a team of skilled Robocar specialists to assist with your event instead.
| Company Name | Drive Suits |
| Entrepreneur | Drew Beaumier |
| Product | Putting on a Transformers-like car suit |
| Investment Asking For | $150,000 For 20% equity in Drive Suits |
| Final Deal | $150,000 For 30% equity in Drive Suits |
| Shark | Kevin O’Leary |
| Episode | Season 4 Episode 9 |
| Business Status | In Business |
| Website | Visit Website |
Who Is The Founder Of Drive Suits?
Drew Beaumier invented drive Suits. He was a cinema and art student before inventing this device. To this day, Drew operates his Robots and Cars Entertainment Company.
Drew was inspired to develop Drive Suits by his passion for robots and automobiles. The young man dreamed of becoming a robot as a child but never imagined it would become a career.
Drive Suit’s first costume contest in 2009 led to his career taking off. He entered the tournament for a fast buck due to his rent arrears. The Hollywood actor had been working as a waiter while seeking employment.
He was able to perform strongly throughout the tournament. This performance led to improvements in his suit.
He then began to refine the automobile based on the results of the competition. He further enlisted the help of a group of robotics enthusiasts to help refine the concept.
However, he ran into challenges that prevented his company’s advancement. His lack of resources made it impossible for him to expand the business, mass-produce the suits, sell the product, or even obtain a patent to protect the idea.
Drew Beaumier is an art and film student. He was in his twenties when he discovered a self-evident truth. He found out how awesome robots are. Unlike other shower ideas, Drew made this shower idea into an income-producing endeavor. He wished to spread his enthusiasm for humanoid robots around the world.
He entered his costume idea in a costume contest 2009 with an early prototype. He referred to this costume as the first of several Drive Suits, a fully functioning motorized transformer.
The following years were spent perfecting the concept and promoting it. Moreover, he assembled an all-star cast of performers to demonstrate his Drive Suits. After a few years of touring and optimizing the act, Drew launched Drive Suits, much to the delight of all children.
However, he lacked sales evidence and would require a partner to commence large manufacture and distribution. Furthermore, he needs help managing intellectual property, optimizing products, and marketing. The business is still a start-up.
Sharks can embrace Drew’s vision for a future of bionic children with Drive Suits if they see its potential.
How Was The Shark Tank Pitch Of Drive Suits?
Drew Beaumier appeared on Shark Tank requesting an investment of $150,000 in exchange for a 20% equity in Drive Suits.
Mark Cuban believes the other Sharks are squandering their time because they do not yet have a product to discuss. Mark is interested in finding out how much money they have made.
He believes the toy firms would keep him occupied for the next half a year while formulating a strategy.
Mark is interested in making a deal with him. They are going to create twenty of these; then they will hire an engineer to optimize the design; after that, because he is not yet a corporation, they will make business judgments.
Mark offers $150,000 in exchange for a 40% equity stake.
According to Daymond John, it is too soon to approach Shark Tank about investing in the DriveSuits brand. He is out.
Kevin O’Leary claims that to create this, he needs a partner. Why haven’t you presented your idea to a toy manufacturer yet?
Kevin doesn’t want to limit his thinking, so he will give him $150,000 in exchange for 30 percent of the firm if he makes it into a toy business. They have reached an agreement if they are willing to cooperate with it.
Barbara Corcoran is worried about the legal ramifications, and the thought of her children using anything like this would make her queasy with anxiety; therefore, she has decided not to participate.
Robert Herjavec believes that Drew is too early and wants to be in charge of producing the suits. Because he does not hold any patents, he is not eligible.
After weighing his options, Drew decides to take Kevin’s offer.
Drew left the Shark Tank stage with an offer from Kevin O’Leary for $150,000 for a 30% stake in Drive Suits.
Final Deal: Kevin O’Leary agreed to invest $150,000 For 30% equity in Drive Suits.
What Happened To Drive Suits After Shark Tank?
Beaumier agreed with Kevin O’Leary: $150,000 for 30% of the Drive Suits to secure a deal with toy manufacturers. The goods aren’t listed on his website, so whether the transaction occurred is unclear.
Beaumier, however, does not let his innovation stop him from capitalizing on it. His efforts appear to be primarily directed towards the live entertainment part of the business rather than manufacturing them for retail.
A new website for Beaumier shows that his enhanced Robot Drive Suit Costumes are now available for hire at public, private, and media events (with a human operator).
Drew is still promoting the DriveSuits, but now he is doing it under a new name, Robots and Cars Entertainment, Inc. The company wears many different costumes during promotional appearances.
Drew uses DriveSuits and Robots and Cars Entertainment, Inc. products to get on television when he can. Drew often appears on television shows such as Shark Tank, American Idol, Let’s Make a Deal, Discovery Channels, Rude Tube, and Happy Valley.
Drew continues to market his DriveSuits and related products under a new name, Robots and Cars Entertainment, Inc. Do not rent cars to consumers. They do not sell the DriveSuits. Professional staff make all their appearances, meaning they have limited liability coverage.
FYI, the deal with Kevin O’Leary did not close after the show. The liability got in the way. Because of that, the liability issue appears to have gotten in the way of the deal closing.
Drew rebranded his firm as “Robots and Cars Entertainment, Inc..” and has amassed over 2 million YouTube views. Drive Suits is still in business and thriving after appearing on Shark Tank under Robots and Car Entertainment Inc.
Drive Suits is still in business with an estimated net worth of $1 million. Drew shifted his focus from selling clothes to entertaining individuals dressed in suits.
RoboCars and operators cannot be rented or used by consumers; however, they can be booked to perform at events and places worldwide.
