The Shark Tank debut of Robert Allison from Las Vegas, Nevada, was in 2009. He demonstrated Lifebelt, a device designed to prevent people from driving without a seat belt – saving them lives.
When an automobile is equipped with a Lifebelt, the engine will not start until the Lifebelt is buckled. Allison requested $500,000 for a 10% stake in her business on Shark Tank.
Kevin O’Leary, a shark investor, offered Allison $500k for the patent. Robert Herjavec made a one-million-dollar offer for the patent. Allison turned down both offers.
What is a LifeBelt?
Life Belt is a safety feature built into automobiles that prevent them from starting if the seat belts are not secured.
Automobiles equipped with this technology can’t start or drive without a seat belt, preventing driver distractions.
This technology works by shutting down the engine until the driver and all passengers are buckled up. Additionally, this substance can benefit parents who drive with children in the automobile.
Whenever a person attempts to unbuckle their seatbelt while the vehicle is moving, an alert will sound. Robert Allison designed the life belt in 2009, and it was introduced in 2010.
|Product||Device To Prevent People To Drive without Seat Belts|
|Investment Seeking||$500,000 For 10% equity in LifeBelt|
|Final Deal||No Deal|
|Episode||Season 1 Episode 22|
|Status||Out of Business|
Who is the Founder of LifeBelt?
The LifeBelt was created in 2009 by Robert Allison. This safety gear was created due to his friend’s death in a car accident, which inspired him to prevent people from driving recklessly or without taking the necessary precautions.
Life Belt was initially a product for his parents and coworkers, but he sought to expand its promotion and development. The school bus mechanism should be integrated into school buses as well to ensure student safety.
Robert originally sold this item at a neighborhood shop. His goal, however, was to install this technology in as many cars as possible. He chose Shark Tank to pitch the project because of this.
LifeBelt Before Shark Tank
The Lifebelt’s main page, NoBuckleNoStart.com, contains a wealth of information about it. The Lifebelt website does not offer to order the seat belt addition, but visitors can understand how it works.
According to the Installation Instructions booklet, a specialist in automotive electronics should be consulted for Lifebelt installation due to its complexity.
This manual also details the correct wire codes and functions, as well as troubleshooting suggestions.
The Lifebelt Operation Manual describes the Lifebelt system’s operation in depth. The manual contains a list of the alerts that users should hear, a troubleshooting guide for those with difficulties, and information about the Lifebelt guarantee.
Allison created an educational guide for young drivers for Lifebelt’s website visitors. The guide includes information and anecdotes about underage drivers.
How Was The Shark Tank Pitch of LifeBelt?
In the second episode of season 1, Robert Allison pitched Life Belt on Shark Tank. He was seeking $500,000 in exchange for a 10% interest.
Allison approaches the Sharks seeking a $500,000 investment in exchange for a 10% ownership in the company. His goal is to install the Life Belt in as many automobiles as possible.
Traffic accidents are the greatest cause of mortality in the United States, and a properly worn shoulder harness can significantly lower the likelihood of death by up to 86 percent. Allison is convinced that his invention will save lives.
While pitching the product, he stated that youths are at fault for most traffic accidents because they do not use seatbelts.
With this system installed in cars, traffic accidents in the country will be reduced by 86 percent. The belt will enforce the use of seat belts by drivers and passengers.
The Sharks are sympathetic, and Kevin Harrington is interested in learning more about the product’s cost and profit margin. Allison tells that he had them installed by a local firm for $229. Harrington believes the installed cost is somewhat excessive.
Robert Herjavec is a fan of the concept but believes bringing one to a technician for installation is too cumbersome. He’s curious as to whether the typical person could install the unit on their own. Allison confirms that they could.
A question is asked by Kevin O’Leary as to why Allison has not approached the large car manufacturers and discussed the patent with them.
Allison reports that at least one of America’s Big Three automakers is very interested, but he is concerned that it will take five or more years for them to begin fitting Life Belts in new vehicles. He is unprepared to wait that long.
Barbara Corcoran expresses her admiration for the product but does not see him selling it. She has escaped. Harrington proceeds based on his request’s appraisal. Daymond John does the same thing.
The sharks were intrigued by this transaction. However, Kevin O’Leary offered $500,000 for a 100% patent. Allison politely declined. Then Robert Herjavek boosted the offer to $1 million for a 100 percent patent, but Allison refused.
When asked why he stated that he does not want the product to sit on the shelf; rather, he wants people to invest in it and ensure their safety.
Other Sharks- Barbara Corocan and Daymond John expressed interest in the product but stated that they do not see him selling it.
They were uncertain about the product’s ability to generate sales. This is why Robert Allison was forced to exit Shark Tank without concluding a transaction.
How Does LifeBelt Make Money?
Robert Allison desired that this system be put in as many cars as feasible. He wants that the public comprehends the significance of this product.
Robert Allison marketed Life Belts in neighborhood businesses. For $229, he installed the system. However, Life Belt is also available for purchase online and is quite straightforward to install.
He received orders from several national merchants following his appearance on Shark Tank. He was commissioned by merchants such as Autozone and Hendrick Automotive.
For a brief period, the Life Belt was available for purchase on the Safety Mom Direct website.
What is the Net Worth of LifeBelt?
Allison approached Shark Tank with an offer of $500,000 for a 10% stake in a business valued at $5,000,000. Allison later agreed with the Gillman Automotive Dealership.
He fetched $1.7 million for Life Belt. Gillman desired to have lifebelts installed in both new and older vehicles. Allison, as previously said, also received orders from a variety of merchants.
Who is the Investor of LifeBelt?
Robert Allison has entered into a multimillion-dollar agreement with Gillman Automotives. Gillman, like Allison, desired to have this technology installed in all automobiles.
Allison benefited significantly from this contract, as the deal’s worth was $1.7 million, and the expected earnings by the end of the year were at least $10 million. However, there has been no update since.
What is the Revenue of LifeBelt?
According to Daymond John Blogs, Robert Allison anticipated earning $30 million by the end of 2010 after striking a deal with Gillman Automotives and collecting orders from national stores.
Unfortunately, no additional information on the deal is available from Allison or Gillman Automotives. The Life Belt web page was last updated in 2020, although the product was unavailable for purchase. The Gillman Automotive website does not appear to sell the Life Belt.
Life Belt is also not available on the websites of other dealerships.
What Happened To LifeBelt After Shark Tank?
Robert Allison, who turned down a million-dollar offer from the Sharks, recently secured a deal worth 1.7 million dollars with a prominent car dealership.
Rob expects to earn $30 million by March 2010 through orders from national merchants (such as AutoZone and Hendrick Automotive).
Robert Allison stated that he wants to get LifeBelt into as many cars as possible. However, a simple check of the LifeBelt website reveals that the device is not available for purchase online, indicating that he is not selling it. I’m not even sure it’s for sale at the moment.
I did come across an update from the 2010 show, in which Robert Allison announced a partnership with a single dealership in Houston, TX, The Gillman Automotive Group, to supply the product to all of their clients.
Regrettably, a cursory examination of the Gillman Auto Group website reveals no evidence of the LifeBelt product.
I conducted additional research, viewing the Facebook Fan page, which showed no promotion and little activity.
Robert Allison advertises license deals in a single post, but no press releases or information on how clients might obtain the product.
This does not bode well for his efforts to spread the word about his product. He does claim to save seventeen lives.
Robert Allison is a highly respectable, likable individual who is well-intentioned. Still, it has already been several years since the product would have been added to the manufacturers’ supply lines.
Ultimately, establishing LifeBelt as a national brand will not result in lifesaving. Including it in the supply chain of new cars will result in the greatest overall life savings.
If you have any information regarding LifeBelt, please contact us. We want to see Robert Allison and LifeBelt succeed. Regrettably, LifeBelt does not appear to be where Robert Allison intended.