BenjiLock: Shark Tank Update

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BenjiLock is a company that specializes in innovative lock technology, founded by Robbie Cabral. The idea for BenjiLock came to Cabral after he experienced the frustration of forgetting his keys and being locked out of his own home.

He wanted to create a lock that would eliminate the need for keys and provide a more convenient and secure solution.

Key takeaways

  • BenjiLock is a biometric padlock that uses fingerprint technology to unlock.
  • The company appeared on Shark Tank and received an investment from Kevin O'Leary.
  • The Sharks were impressed with the product's potential and praised the founder's pitch.
  • BenjiLock's technology uses a rechargeable battery and can store up to 10 fingerprints.
  • The company offers a variety of locks, including a travel lock and a bike lock, and is available at major retailers like Best Buy and Home Depot.

BenjiLock's Shark Tank pitch: A recap

BenjiLock gained national attention when Cabral appeared on the hit TV show Shark Tank to pitch his innovative lock technology. During his pitch, Cabral showcased the various features of the BenjiLock, including its fingerprint recognition technology and ability to store multiple fingerprints. The Sharks were impressed with the product and its potential in the market.

BenjiLock's success on Shark Tank: How did the Sharks respond?

The Sharks were immediately intrigued by BenjiLock and its potential for success. They recognized the need for a more convenient and secure lock solution, and saw the value in Cabral's innovative technology. Each of the Sharks made offers to invest in BenjiLock, with negotiations taking place to determine the terms of the partnership.

BenjiLock's success on Shark Tank - How did the Sharks respond

Ultimately, Cabral chose to partner with Kevin O'Leary, also known as Mr. Wonderful, who offered $200,000 for a 15% stake in the company. O'Leary's experience and connections in the consumer products industry were seen as valuable assets that could help BenjiLock grow and succeed.

BenjiLock's innovative technology: How does it work?

BenjiLock's innovative technology is based on fingerprint recognition. The lock is equipped with a fingerprint scanner that can store multiple fingerprints, allowing authorized users to easily unlock it with just a touch of their finger. This eliminates the need for keys or combinations, providing a more convenient and secure solution.

The fingerprint scanner uses advanced biometric technology to accurately recognize and match fingerprints. It is designed to be highly reliable and resistant to false positives or negatives. The lock also has a backup key option in case of emergencies or if the fingerprint scanner malfunctions.

Compared to traditional lock systems, BenjiLock offers a more convenient and secure solution. Traditional locks often require keys or combinations, which can be lost, forgotten, or stolen. BenjiLock eliminates these concerns by using fingerprint recognition, ensuring that only authorized users can access the lock.

BenjiLock's product line: What are the different locks available?

BenjiLock offers a range of different locks to suit various needs and preferences. The flagship product is the BenjiLock By Hampton, which is a padlock that uses fingerprint recognition technology. It is designed to be weather-resistant and durable, making it suitable for both indoor and outdoor use.

BenjiLock's product line - What are the different locks available

In addition to the padlock, BenjiLock also offers a travel lock, which is smaller and more portable. This lock is ideal for securing luggage or other personal belongings while traveling. It is lightweight and compact, making it easy to carry around.

BenjiLock also offers a bike lock, which is specifically designed for securing bicycles. It features a flexible cable that can be easily looped around the bike frame and secured with the fingerprint recognition lock. This provides a convenient and secure solution for bike owners.

BenjiLock's market reach: Where can you find BenjiLock?

BenjiLock products are currently available for purchase on the company's website, as well as through various retail partners. The locks can be found in select stores across the United States, including major retailers such as Walmart and Best Buy.

In addition to its presence in physical stores, BenjiLock also has a strong online presence. The company sells its products through popular online marketplaces such as Amazon, allowing customers to easily purchase their desired lock from the comfort of their own homes.

BenjiLock has plans for expansion into new markets, both domestically and internationally. The company is actively seeking partnerships with distributors and retailers to increase its market reach and make its products more widely available to customers around the world.

BenjiLock's partnership with Hampton Products: What does it mean?

BenjiLock recently announced a partnership with Hampton Products, a leading provider of security hardware and door controls. This partnership will allow BenjiLock to leverage Hampton Products' extensive distribution network and industry expertise to further expand its market reach.

BenjiLock's partnership with Hampton Products - What does it mean

The partnership will also provide BenjiLock with access to Hampton Products' manufacturing capabilities, allowing for increased production and faster delivery of its locks. This will help meet the growing demand for BenjiLock products and ensure that customers can easily purchase their desired lock.

For Hampton Products, the partnership with BenjiLock represents an opportunity to offer innovative lock solutions to its customers. The company recognizes the value of BenjiLock's fingerprint recognition technology and sees it as a key differentiator in the market.

BenjiLock's future plans: What's next for the company?

BenjiLock has ambitious plans for future growth and development. The company aims to expand its product line to include additional lock solutions, catering to different industries and applications. This includes exploring opportunities in the smart home market, where there is a growing demand for connected devices.

In addition to expanding its product line, BenjiLock also plans to further expand its market reach. The company is actively exploring partnerships with distributors and retailers in new markets, both domestically and internationally. This will help make BenjiLock products more widely available to customers around the world.

Furthermore, BenjiLock is committed to continuous innovation and improvement. The company invests heavily in research and development to stay at the forefront of lock technology. This includes exploring new features and functionalities that can enhance the convenience and security of its locks.

BenjiLock's customer reviews: What are people saying about the locks?

Customer reviews of BenjiLock products have been overwhelmingly positive. Customers praise the convenience and ease of use of the locks, as well as their reliability and durability. Many customers appreciate the peace of mind that comes with knowing their belongings are secure.

Common themes in customer reviews include the convenience of not needing keys or combinations, the accuracy and speed of the fingerprint recognition technology, and the overall quality and design of the locks. Customers also appreciate the backup key option in case of emergencies.

While there have been some minor complaints about the initial setup process or occasional issues with the fingerprint recognition, these seem to be isolated incidents and do not detract from the overall positive customer experience.

Is BenjiLock worth investing in?

In conclusion, BenjiLock is a company that offers innovative lock technology with its fingerprint recognition locks. The company has gained recognition and success through its appearance on Shark Tank and its partnership with Kevin O'Leary.

Is BenjiLock worth investing in

BenjiLock's locks provide a convenient and secure solution compared to traditional lock systems. The company offers a range of different locks to suit various needs and preferences, and its products are available for purchase online and in select stores.

With its partnership with Hampton Products and plans for future growth and development, BenjiLock has a promising future ahead. Customer reviews have been overwhelmingly positive, further validating the value and potential of BenjiLock's lock technology.

For potential investors or customers, BenjiLock is definitely worth considering. Its innovative technology, strong market reach, and commitment to continuous improvement make it a promising investment opportunity.

FAQs

What is BenjiLock?

BenjiLock is a padlock that uses fingerprint technology to unlock. It was created by entrepreneur Robbie Cabral.

What happened to BenjiLock after appearing on Shark Tank?

After appearing on Shark Tank, BenjiLock received investment offers from all five sharks. Cabral ultimately accepted a deal with Kevin O'Leary, who invested $200,000 for a 16.5% stake in the company.

What updates have been made to BenjiLock since appearing on Shark Tank?

Since appearing on Shark Tank, BenjiLock has released a new version of its padlock that includes additional features such as Bluetooth connectivity and the ability to store up to 10 fingerprints.

Where can I purchase BenjiLock?

BenjiLock can be purchased on the company's website, as well as on Amazon and at select retailers such as Best Buy and Home Depot.

What is the price of BenjiLock?

The price of BenjiLock varies depending on the model and retailer. The original BenjiLock padlock retails for around $70, while the newer Bluetooth-enabled version retails for around $100.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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