Inventor of magnetic collar stays celebrates Shark Tank appearance during visit to M Penner

One night, Jonathan Boos was running late for dinner with his wife and threw on a shirt with a collar that flared out so wide that it looked like he could have played John Travolta in Saturday Night Fever. Boos couldn't find another shirt to wear, so he fashioned paper clips and small magnets into a couple of collar stays that solved the problem.

Boos, 36, has transformed those makeshift magnetic Power Stays into a million dollar business called Würkin Stiffs that landed him on Friday night's episode of Shark Tank, the ABC show in which entrepreneurs present their ideas to a team of high-powered venture capitalists in search of financing.

The Florida inventor traveled to Houston to watch the episode with friends Murry and Karen Penner at their clothing store, M Penner, along with a slew of the Penner's customers and friends.

The Penners befriended Boos during his first appearance at The Collective menswear trade show in New York in January, 2007, and were taken by his invention. "I'm a gadget person and it's such a unique item," Karen Penner explains. "And it was about that time that men were really getting tired of dressing sloppy. It seemed like a good way to pay attention to looking neat. Our store is the anti-grunge." 

Penner notes that the stays, which retail for $40 for a six-pack, have sold well at the store because they make a great gift. Boos also has collar stays emblazoned with the likeness of Elvis Presley or Muhammed Ali ($45 for a set of two) as well as fashion cufflinks and collar stays made for polo shirts.

On the show, Boos asked for for $85,000 for a 10 percent stake in his company. Through a series of complicated negotiations, he agreed to an offer of $100,000 for a 20 percent stake from show regulars Barbara Corcoran and Daymond John. But since the show was taped last November, Boos decided to walk away from the deal because of differing opinions about how to expand the business.

But Boos said he didn't regret being on the show. "It was a great experience. I wouldn't have changed it for the world," he said, noting that it helped him to sharpen his skills and define what he wants the company to be.