The Safety Nailer is a unique safety tool that keeps fingers safe when using a hammer or a drill. The Safety Nailer is a small plastic shield you can put on your thumb and fingers. The nail goes through the hole in the Safety Nailer. Find how much is the net worth of the enterprise.
What is Safety Nailer?
Safety Nailer is a business that makes the same-named product, their most popular item. The company is located in Virginia Beach, Virginia. The Safety Nailer is a device that is worn on the thumb and pointer finger.
It protects the user from common accidents when using a nail and hammer, working with wood, or making home repairs. The tool has three guides of different sizes for putting in nails to ensure they are put in correctly and appropriately.
Who are the founders of the company?
Drew Zirkle, a civil engineer who worked as a Water and Wastewater Project Manager for an HRD design firm for more than fourteen years, and Kristen Eifes, an accountant who has a Bachelor of Business Administration in Administration and Management from Old Dominion University and a Master of Education in Elementary Education and Teaching from the University of Phoenix, started the company.
After he was medically discharged from the Navy in 2012, Drew’s college friend and Kristen’s husband, Daniel Eifes, created and patented the product with Kristen’s help. Daniel couldn’t work in the business because of his health, so Drew and Kristen worked together to get the effect on the market.
How does the Safety Nailer work?
The Safety Nailer is a small plastic blocker worn on the fingers and thumb. It keeps nails in place with magnets and lessens the damage from a swing that isn’t on target. It also works with screws and comes with a version for nails longer than half an inch and a “tiny” version for nails and screws that are smaller.
The first money for the company came from a Kickstarter effort in July 2019 that raised $8663. They also put in more money from their pockets and won $5,000 in a competition for entrepreneurs and innovators called Start Peninsula. For $8.99, you can buy both copies of the product on Amazon.
Net Worth of Safety Nailer Framer in 2024
Drew Zirkle, an entrepreneur, went on Season 11 of Shark Tank and made a deal with Lori Greiner, guest shark Rohan Oza, and Mark Cuban to give them $100,000 in exchange for 33% of the business.
As for an update on Safety Nailer, the company is still going strong and makes about $2 million a year in sales. You can now also find their goods at Ace Hardware.
| Safety Nailer’s Net worth before appearing on Shark Tank | 714,000 USD (business valuation) |
| Safety Nailer’s Net worth [year between appearing and now]2021 | 2 million USD |
| Safety Nailer’s Current Net worth (2024) | 4 million USD |
Safety Nailer’s founder Drew Zirkle has a net worth of 3 Million USD.
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Shark Tank Deal
It might be an excellent idea for a product, but the fact that it’s a product and not a business worries some of the sharks. Kevin O’Leary is the first shark to lose. Drew tells him he has yet to quit his day job, and Kevin doesn’t feel he’s all in with the plan.
Mark Cuban is also out because he doesn’t want to back someone who isn’t 100% behind the product. At this point, the entrepreneur tries to sell his ‘clacker’ toy, which doesn’t click, to the sharks. Visitor shark Rohan Oza, on the other hand, thinks that the licensing deal for the Safety Nailer is a good one.
Lori Greiner agrees, so they both decide to go in. Mark asks if he can have the rights to the clacker, and if he can, he’ll join the deal. All three for one price? $100,000 for half of the business (and, of course, the rights to the clacker). Drew wants to bargain, and Mark says that if Drew can keep the clacker, they’ll lower the stock to 33%.
The businesses agree, but did the three sharks get a good deal? The safety nailer hasn’t caught on, but it’s still doing pretty well for a tool. It’s sold on Amazon, their website, and in Ace Hardware stores nationwide.
How much is Safety Nailer Framer Shark Tank worth right now?
How much the Shark Tank product Safety Nailer Framer is worth needs to be clarified. The company was worth $714,286 at the time of the pitch on Shark Tank.
But the company is still in business, and its net worth might be better than what the rise said. Reports said that Safety Nailer made about $2 million in sales annually in 2021.
Also, as of 2022, Drew Zirkle, who started Safety Nailer Framer, is worth $3 million. Remembering that a company’s value can change over time based on sales, income, and investments is essential.
So, the value of Safety Nailer Framer may be different now than what was said during the pitch on Shark Tank. Still, the product is doing well, with sales in the millions of dollars and a high net worth for the person who made it.
Conclusion
Safety Nailer is a product that has a lot of promise because it has so many benefits. If it gets enough attention, it can become something every building site does. The business is still doing well, but it could hit new heights with the right plan.
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