SquareKeg on 'Shark Tank': What's the cost, who are the makers of keg that fits in coolers and fridges
Tim Loucks is one of the co-owners of SquareKeg, which creates square minikegs that are refrigerator and cooler-compatible out of stainless steel
LOS ANGELES, CALIFORNIA: SquareKeg, headquartered in Spokane Valley, will be featured on ABC's iconic reality show 'Shark Tank' this week. On Friday, November 11 at 8 pm, SquareKeg founder Tim Loucks will present the startup's minikegs to a panel of celebrity tycoons in the hopes of obtaining an investment deal.
Loucks, a 'Shark Tank' fan, described his appearance on the show as an "unbelievable event." "It was super exciting and scary all at the same time. Just to see yourself on a national stage is kind of weird. I’ve never been in that environment before," Loucks explained. "It’s really expensive to advertise and reach a massive audience. It’s really cool to have our story out there, and even cooler to have it through 'Shark Tank.'"
What is SquareKeg?
SquareKeg is a contemporary take on a classic idea, the keg, which is a circular barrel that often holds beer. Rather, SquareKeg is exactly what it sounds like — a square keg. Traditional round kegs take up a lot of room and can waste quite a bit of the stored liquid at the end, below the tap. But SquareKeg is more compact and allows you to relish every last drop. The beer kegs people know and love have been used for brewing for around 4,000 years, having been invented in the fifth millennium BCE from terracotta pots. While the beer keg has developed greatly since its inception, the cylindrical barrel form has remained consistent.
The SquareKeg's innovative shape is more compact and stores a significant volume of liquid in a smaller cubic space area. The keg may also be used in practically any place and is easy to stack properly. SquareKeg isn't simply about storing beer. The novel product can be utilized to hold beer, kombucha, or any other sort of beverage. You can find some intriguing cooking ideas on the company's website. Customers online have also shared some excellent SquareKeg ideas. The SquareKeg can hold any beverage and keep it carbonated thanks to its built-in regulator. Whiskey and Coke is a popular cocktail that many people have posted online. SquareKeg is motivated by more than just wasted product. A classic keg is big and heavy. You can't put it in the fridge, and storage becomes a major issue. SquareKeg, on the other hand, is tiny enough to fit in a standard fridge and can be simply taken wherever the wind takes you.
SquareKeg functions in the same way as any other keg. You buy a keg from the website and take it to your local brewery to fill it with beer. You may also fill the SquareKeg at home, and it will utilize CO2 to keep any carbonated beverages, like beer or pop, fresh and effervescent for a longer length of time.
The SquareKeg is substantially smaller than a standard beer keg. The Square One small is roughly 12.5 inches in length, 9 inches in height and weighs approximately 7.5 lbs when empty. SquareKeg's most appealing selling point is its modest, compact form. A keg is typically too huge and heavy to transport and impractical to keep in a standard-sized refrigerator. SquareKeg uses an innovative design to maximize storage capacity and revolutionize how the world consumes beer. For many years, some people have preferred beer on tap. Keeping a full-size keg at home, on the other hand, is impractical. SquareKeg solves this by making it simple for everyone to own and use a keg. Keg beer, like other on-tap beverages, has increased in favor as a crisper, fresher, more flavor-rich replacement to bottled beer.
The SquareKeg is a small, portable stainless steel keg that can contain up to 128 ounces of your favorite beverage, such as beer, soda, kombucha, cold coffee, or other beverage. When full, the SquareKeg can store close to a 12-pack of beer and use CO2 to keep it fresh and carbonated for weeks. SquareKeg's finest features will almost certainly be discussed on Shark Tank. Some of the great attributes are as follows:
1. It is possible to customize (the company offers laser-etched logo printing)
2. There is no need for a power source
3. Portable and lightweight (weighing less than 8 pounds)
4. It can hold 128 ounces
5. Fits in the refrigerator
6. Constructed of food-grade stainless steel (identical to traditional kegs)
7. One-of-a-kind patent-pending, space-saving design
Who are the founders of SquareKeg?
SquareKeg Company's president is Tim Loucks. He co-owns the company with his wife, Birgitta. The idea of a square keg came to Loucks in the middle of the night, and despite his lack of knowledge or experience, Loucks' idea sparked a fire within him. He set out to design SquareKeg and embarked on a mission to change the way people drink. Loucks works as a sales and accounting professional. He worked as an account manager at Burkhart Dental for a year after receiving his BA in Business Communications and Life Sciences from Eastern Washington University. He also spent two years as Spok's Enterprise Sales Director. Furthermore, he worked as a sales representative for Stryker, a medical device and equipment manufacturing firm, for 9 years.
Loucks, who was born in Detroit, Michigan, to a humble family, has always had a vivid imagination and lofty goals. While he struggled in school, Loucks was the child who believed he could accomplish anything and was born to be different. Loucks says he often looked up to the world's greatest innovators because, without them, nothing would ever change. Despite his inventiveness and tenacity, he struggled to find his place in the world. Loucks went along the corporate route to happiness after graduating from high school, getting married, having a couple of children, and earning a bachelor's degree. But the American ideal that we are all encouraged to strive towards was not Loucks' goal.
Loucks had had enough of this perfect existence after years of climbing the corporate ladder. SquareKeg was a rebirth for Loucks, a call to creation, and an escape from commonplace, everyday existence. He knew he wanted to do something unique, so when inspiration hit in the middle of the night, he knew he had to listen. Loucks had no expertise or experience producing beer or manufacturing a working keg, so SquareKeg started from scratch. His hard work, inventiveness, and drive paid off, as he developed a modern, small keg for the public.
Loucks, a former healthcare software salesperson, founded SquareKeg in 2017 with the goal of revolutionizing how consumers and suppliers distribute, serve and drink beverages. He examined the notion of a square minikeg and discovered that there was no equivalent product on the market, which supported his plans to create a viable business strategy. SquareKeg began shipping its products to customers nationally from its production plant in Spokane Valley around one and a half years ago.
What is the cost and where to buy SquareKeg from?
SquareKeg's website sells a variety of products ranging in price from $179.00 to $399.00. In August, SquareKeg, the firm that offers the Square One Mini Keg and the Square One Nitro, began a Kickstarter effort to support the production and sale of the Square One Portable Mini Keg. The price of traditional beer kegs varies according to the size and quality of the product they hold.
A typical beer keg can cost about or over $200. However, the keg itself is the property of the maker and must be returned once drained. Traditional kegs are also subject to extra charges. A tap deposit charge, for example, is frequently associated with the purchase of a traditional keg and can vary from $50 to $70. There's also the expense of tubing and refrigeration to consider. SquareKeg turns these expenses on their heads, shaking up the industry in the process. Because the SquareKeg is small, it is easy to travel with and consume from. It is very simple to clean, since full instructions are available on the company's website and YouTube channel. There is no disputing that the SquareKeg is a game changer that will permanently alter game night.
SquareOne has refill cartridges that are $24 for a 12-pack and $199 for a 10-pack. Each keg carries 128 ounces, or roughly a 12-pack. You may fill them with beer at any craft brewery that sells 'growlers' to the public. In terms of other drinks, you can make large amounts of cocktails or drink whatever you want on tap if you own a SquareKeg. Everything is created in the greater Spokane area with locally sourced, American-made components. For an additional fee, you can even have them customized with your own logo. The products are available both on the company's website and on Amazon.
Where is SquareKeg now?
SquareKeg has increased revenue, hired five new staff members, and hopes to hire more in the future. "Overall, customers are having a lot of fun with it. People find cool new uses for it that we’ve never even thought of," Loucks added. "The market is telling us, ‘We want a bigger size.’ We are developing new products as well as an option for wine in the next few months."
On August 25, 2020, the entrepreneur began a Kickstarter campaign for his invention with a $150,000 objective. However, this fundraising effort was a failure, with the founder raising a total of $60,454 from 205 backers by September 24, 2020. As the entrepreneur had to handle the fledgling firm alongside his regular work, he faced several problems. The founder decided to go to 'Shark Tank' to acquire funding for his business.
Who will steal the deal?
The Sharks might or might not strike a deal with the SquareKeg founder. The panel's reaction to Loucks and his idea is difficult to anticipate. Despite Shark Mark Cuban's love of beer, it's difficult to anticipate how SquareKeg will do in the harsh seas of the tank. Shark Lori Greiner, another renowned 'Shark Tank' judge, does not drink beer and may be wary of a deal with SquareKeg. On the other side, she could perceive the product as a goldmine that she can advertise and sell on her successful QVC program. Lori is widely acknowledged as one of the most prolific retail product innovators, having invented over 500 different products and presently holding over 120 US and foreign patents. Lori's reaction to SquareKeg will be intriguing to see, and her involvement will most likely be determined by how the product is sold to the judges.
Sharks Peter Jones, Kevin O'Leary, and Daymond John are the only men on the remaining panel. It's easy to presume that one of them will make an offer or collaborate to make one, but it will all come down to Loucks and how he pitches the SquareKeg to the 'Shark Tank' on November 11.
'Shark Tank' Season 14, Episode 6 airs on ABC on Friday, November 11, 2022, at 8 pm ET. Catch the latest episode that features products like Collars and Co., Nana Hats, SquareKeg, and Wondry, with an update from Curie, a brand that was featured in Season 13 of the show.