|SEASON 6 EPISODE 2|
|Pitch||Most precise golf putter in the world|
|Entrepreneur||Phillip Lapuz and Eric Williams|
|Asked For||$150,000 for 15%|
|Deal||$150,000 for 30%|
What is Kronos Golf?
When starting a business and searching for investors, one crucial component to consider is the quality of your product. Putting some love into your product and making it as close to perfect as possible will generate interest and please your customers.
Kronos Golf is a golf putter maker which boasts precision-milled and meticulously hand-finished putters. Its motto is “to raise the standard in putter manufacturing one putter at a time.” While Kronos Golf doesn’t claim to make its customers better golfers, it aims to bring craftsmanship into the putter business.
Who Owns Kronos Golf?
The team of Phillip Lapuz and Eric Williams is behind Kronos Golf. Phillip has Bachelors and Master’s degrees from UC San Diego and Osaka University, respectively. He worked at a consulting firm briefly before founding Kronos Golf in 2010. Eric has computer science degrees from UCLA and Tohuku University. He had a slew of careers including software development, teaching and photography before joining Kronos Golf as a Creative Director in 2010. He also works at Intel as a software engineer.
Before starting Kronos, Phillips and Eric prototyped putters, metal woods, and golf machines for Titleist, Taylormade, Goldwin and a few other big and small golf brands who then ultimately moved to cheaper, less precise methods of manufacturing. The duo believed that the putter is a precision club and hence should not be mass-produced and continued to forward this belief.
The team initially invested $100000 and sold its putters on their website and in some specialty golf shops.
They made $260,000 in sales but mostly in Japan before appearing on Shark Tank where they pitched for $150,000 at 30% stake in the company.
What Happened After Shark Tank Update
Is Kronos Golf Still in Business?
Kronos Golf is still in business and doing well. They now have several newer models, including a putter made specifically for left-handed golfers.
The company is focusing mainly on their distributors in Japan because there is high demand. They put the money from Robert towards manufacturing facilities to try to keep up with the demand.