Brandon and Keith Marz appeared on Shark Tank (Season 4, Episode 405) to pitch Marz Sprays, a line of vitamin oral sprays designed for individuals who prefer an alternative to swallowing pills. Their innovative spray formula allows for faster absorption of essential nutrients, and their product lineup includes a vitamin C spray, sleep aid spray, energy booster, kids’ vitamin spray, and a weight loss spray.
The father-son duo emphasized that their products were patented (or patent pending) and had undergone independent clinical studies. They also revealed pending purchase orders worth over $1 million and a potential licensing agreement with Nature Made, a well-known vitamin brand.
Marz Sprays Net Worth
At its peak, Marz Sprays generated millions in sales, with $4 million in reported annual revenue as of 2023. However, due to unclear business activity in 2024, it is difficult to determine the current net worth of the company.
Brandon Marz, now focused on LifeRoc Capital, LLC, likely has personal earnings separate from Marz Sprays. Keith Marz’s financial status remains undisclosed. If the company has ceased operations, its valuation would be significantly lower than its peak years.
Key Takeaways
- Marz Sprays pitched on Shark Tank (Season 4, Episode 405) as a vitamin oral spray alternative to pills, seeking $200,000 for 10% equity.
- Lori Greiner initially agreed to a $200,000 for 25% deal with a redemption option, but the deal never closed.
- The company expanded distribution through direct sales, online marketplaces, TV commercials, and major retailers like Walgreens and Walmart.
- A legal battle with Walgreens in 2014 resulted in Marz Sprays winning payment for a $100,000 shipment.
- By 2020, the brand was in 20,000+ stores and reported $4 million in annual revenue in 2023.
- As of 2024, the company’s website is inactive, social media hasn’t been updated since 2021, and its current status is uncertain.
- Brandon Marz has moved on to co-found LifeRoc Capital, LLC, while Keith Marz remains low-profile.
Shark Tank Pitch Recap
Brandon and Keith sought $200,000 in exchange for 10% equity in Marz Sprays. However, their pitch faced skepticism from some of the Sharks:
- Mark Cuban dismissed the concept as a potential scam and was the first to opt out.
- Daymond John felt the regulatory hurdles in international markets were too complex, so he also declined.
- Robert Herjavec simply wasn’t interested in the supplement industry and bowed out.
However, Lori Greiner saw potential in the product and offered $200,000 for 30% equity, contingent on securing the deal with Nature Made. Kevin O’Leary then proposed the same investment for 25%. Lori matched Kevin’s offer, leading to negotiations.
After a quick discussion, Brandon and Keith countered Lori’s offer with a 25% equity deal, including a redemption option allowing them to repurchase half of Lori’s shares at four times the original investment price. Lori agreed, sealing the deal on the show.
Post-Shark Tank: Did the Deal Close?
Despite the on-air agreement, the deal with Lori Greiner ultimately did not close. However, Marz Sprays continued to expand its distribution through multiple channels, including direct-to-consumer sales, online marketplaces, TV commercials, and retail partnerships.
In 2013, the company began rolling out in major retail stores, and their success was highlighted in an update segment on Shark Tank Season 5, Episode 522. The update showcased nationwide distribution in Walgreens and Hudson News, along with growing international sales.
However, not everything went smoothly. In 2014, Walgreens placed a $100,000 order but later refused to pay, forcing Marz Sprays to take legal action. They ultimately won the lawsuit. Around the same time, the company secured shelf space in Walmart and revamped its product packaging.
By 2020, Marz Sprays was available in over 20,000 retail locations.
Where Is Marz Sprays Now? (2024 Update)
While Marz Sprays experienced significant growth, it did not reach the explosive success originally projected.
- As of January 2023, the company reported $4 million in annual revenue.
- However, a June 2024 update revealed that their website is no longer active, and their social media pages have been dormant since 2021.
- Brandon Marz now lists himself as Chief Strategy Officer at LifeRoc Capital, LLC, a business he co-founded in 2017.
- Keith Marz has maintained a low public profile, with little recent information available about his involvement in the business.
It remains uncertain whether Marz Sprays is still actively operating, or if it has quietly ceased business. The lack of online presence suggests the company may have shut down or pivoted away from its original model.
Conclusion
Marz Sprays entered the market with an innovative take on vitamin consumption, securing major retail partnerships and generating millions in sales. However, regulatory challenges, legal battles, and shifting consumer trends may have contributed to its apparent decline. While the brand once boasted a strong retail presence, its current status remains unclear.
