Shark Tank season 6 premiere episode 602 features Phillip Lapuz and Eric Williams pitching Kronos Putters.
Kronos Golf’s putters are made in California with precision and are delicately hand polished.
Their company aims to “raise the bar for putter production one customer at a time.”
No one can claim that Kronos Putters will make them a better golfer, which a great deal of practice can only accomplish, but they hope to elevate the art of putter production to a higher level of artistry.
The putter heads are each milled from a single piece of steel, making them unique.
Lapuz and Williams believe that the putter is a precision club and that it should be built as such rather than becoming a mass-produced item.
Lapuz, who makes golf equipment prototypes, is a native of the same area as the Callaway, TaylorMade, and Titleist test labs.
Kronos putters are available for purchase on the company’s website and in a few specialty golf shops.
They sell putters from three different series: Raw, Refined, and Rare. They also sell club heads, which can be found here.
It is very likely they would like funding for expansion and an introduction to big-box golf and sporting goods stores. How do Kronos putters compare with Sharks?
What Is Kronos Golf?
Kronos Golf is a range of precision-milled golf putters designed and manufactured in San Diego, CA.
Kronos Golf is the invention of Phillip Lapuz, Eric Williams, and their friends. The golf industry benefits from their collective experience of more than a century.
The manufacturing process at Kronos Gold is non-gimmicky, false, or shortcut-free to ensure the most precise and balanced putters. The Pure Balanced Center of Gravity has been certified on each putter.
The product or service quality should be considered when launching a business or seeking investors.
You can build interest and satisfy clients by putting some thought into your product and striving to make it perfect.
Kronos Golf is a golf putter manufacturer specializing in precision-milled and delicately hand-finished putters.
Its mission is to “raise the standard in putter manufacture one putter at a time,” as the company’s motto states.
Kronos Golf has never claimed to make its clients better golfers, but it does strive to instill a sense of artistry into the putter manufacturing industry.
|Company Name||Kronos Golf|
|Entrepreneur||Eric Williams and Phillip Lapuz|
|Product / Business||Golf Putter With The Most Accuracy|
|Investment Asking For||$150,000 For 15% equity in Kronos Golf|
|Final Deal||$150,000 For 30% equity in Kronos Golf|
|Episode||Season 6 Episode 2|
|Business Status||In Business|
Who Is The Founder Of Kronos Golf?
Phillip Lapuz and Eric Williams are the owners and founders of Kronos Golf. Phillip holds Bachelor’s and Master’s degrees from the University of California, San Diego, and Osaka University, respectively, in computer science.
He worked for a consulting firm briefly before launching Kronos Golf in 2010. He holds degrees in computer science and Japanese from UCLA and Tohuku University.
He worked as a software developer, instructor, photographer, and designer before joining Kronos Golf as a Creative Director in 2010. Currently, he is employed by Intel as a software engineer.
Philips and Eric worked for companies such as Titleist, Taylormade, Goldwin, and a few other large and small golf brands before founding Kronos, all of which eventually switched to less costly and more exact manufacturing techniques.
Putters are precise clubs, and as such, they should not be mass-produced, and they still advocate for this belief today.
The company invested $100,000 in the first year and marketed its putters on its website and specific golf shops.
The business generated $260,000 in sales, with the majority coming from Japan, before going on Shark Tank. There, they pitched for $150,000 for a 30 percent stake in the business.
Kronos Golf Before Shark Tank
Kronos Putter was developed by Phillip Lapuz and Eric Williams, two friends who decided to use their combined expertise and passion for golf to make a product.
Phillip and Eric were interested in developing a superb golf putter, but they also wanted to distinguish themselves from established firms such as Titleist, Taylormade, and Callaway.
Philip and Eric both felt that it would be far more effective if each putter were created with craftsmanship rather than mass-producing golf putters.
Golf putters are their opinion that they are a very important precision club, and it is far preferable to manufacture them with care rather than producing them in large quantities.
Kronos Putter was born out of this. The Kronos Putter is meticulously hand-finished in San Diego, California, to provide the highest level of perfection.
Philip and Eric believe using the Kronos Putter does not guarantee that you will improve your golf game. They assert that this can only be achieved through a great deal of practice.
Philipp and Eric want to bring their love of craftsmanship to the manufacture of putters, and that is something they have always enjoyed.
Phillip and Eric came up with three different putter series: Raw, Refined, and Rare. Kronos Putter is now manufacturing and selling its products online and in select golf shops.
However, Philipp and Eric need some assistance to market their Kronos Putter in a major way. They will also need additional revenue to do so.
Phillip and Eric decided to attend the shark tank to acquire additional funding and build their business skills and relationships. They were also looking to learn from the sharks.
The question is whether any sharks will be willing to take a shot at Kronos Putter.
How Was The Shark Tank Pitch Of Kronos Golf?
Phillip and Eric appeared on Shark Tank seeking an investment of $150,000 for a 15 percent stake in Kronos Gold. They explain that you’re “driving for show and putting in the dough.”.
They explain their milling technique and then invite Mr. Wonderful to try a putt, but he fails miserably to sink the ball.
Golfers may not be able to become better golfers by improving their putters, but they are more likely to become better with a better putter.
They’ve made $260K in sales, most of which have come from Japan. They do not have a golf professional “validating” their goods in the United States.
When Mr. Wonderful explains that they are attempting to return to the “Golden Age” of golf, he cites the Greek story of Kronos, whose reign was considered the “Golden Age.”
It takes Robert some time to understand the putter’s feel, and he starts asking questions about it. The men admit that they have invested approximately $100,000.
Mark claims to despise golf; hence he will not be participating. Barbara enjoys golf since it allows her to spend every weekend away from her husband, but she enjoys going out on the town.
Lori appreciates their concept, but she’s not on board with it.
Phillip is distraught over his girlfriend, who will not be able to come to America unless he makes it big in the business since her parents refuse to support her venture. Robert continues his investigation.
Kevin too, breaks down in tears! Barbara insists he should use the criticism he received from his parents as motivation.
Mr. Wonderful believes it is a long shot that the product will be successful, so he has withdrawn from the competition.
Robert believes that people need external motivation to achieve, but their investments will take a long time to repay.
He is offering $150K in exchange for 30% of the company. Using Japanese, the men confer and counter at a rate of 25 percent. Robert raises his offer to 30%, and they reach an agreement!
What Happened To Kronos Golf After Shark Tank?
Eric and Phillip have grown their businesses with support from a shark after striking a deal with Robert in Shark Tank.
Kronos has concentrated its efforts on Japan since the Kronos Putter is in high demand. Robert’s investment in the capital has enabled them to increase production to keep up with the demand.
The Kronos Putter continues to sell well on the company’s website, and who knows, perhaps it will be able to make its way into the United States market soon.
Philipp was able to show his worth to the Japanese parents of his fiance’s family through this transaction.
His demonstration convinced them that he was right to follow his dream, and he now feels confident in his ability to offer a wonderful life to himself and his future wife.
Kronos Golf Shark Tank Update
Kronos continues to sell products in Japan, and Lapuz was married to his fiancee Tara last summer.
Kronos putters are individually machined under computer numeric control, then hand polished and assembled by the best craftsmen in the world using only the best materials and the latest technologies.
The fabrication of solid metal billets is preferred to castings, welding, stamping, or other shortcuts.
Kronos reduces precision to a bare minimum through exceptional design and execution.
Kronos Golf’s Hinotori Putter was displayed at the British Golf Museum in St. Andrews, Scotland, just a few steps away from the Old Course, where it remains today after its appearance on Shark Tank.
The transaction with Robert never came to fruition. As of April 2022, Kronos Golf is still operating, making $5 million in revenue per year.
Is Kronos Golf Still In Business?
The Kronos Golf company is still in operation and is doing well. There are now various additional products in their product line, including a putter specifically designed for left-handed golfers.
The corporation focuses its efforts primarily on its wholesalers due to the enormous demand in Japan.
They used the money they received from Robert to invest in manufacturing facilities to keep up with demand.