PRx Performance Profile Rack is a Brian Brasch and Erik Hopperstad creation. They are asking the Sharks for eighty-thousand dollars in exchange for ten percent of the company.
PRx Performance Profile Rack on Shark Tank Season 7
They have a consumer weight rack that starts at $550 to a commercial weight rack at $1000
PRX Performance Profile Rack is patent pending, and they have two companies that have violated the patent if approved.
They sold 100 units, and are making money as of this quarter, but they do not take a salary.
Entrepreneurs: Brian Brasch and Erik Hopperstad
From: Fargo, North Dakota
Ask: $80k for 10% equity
Companies in this episode: Insta-Fire, Custard Stand, Rags to Raches
Season: Season 7 Episode 719
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 02/21/2016
Deal: Kevin O'Leary $80,000 for 20% of the company provided they pay him out at the same time they pay themselves out. If they get $80,000 out, they pay Kevin $20,000.
What do the Shark Tank Investors say about PRxPerformance Profile Rack
Mark Cuban believes that they have to sell so many units to turn enough to make a return. They are too early for Mark so, he is out.
Daymond John knows the weight equipment well. The user who is the enthusiast buys the weight rack and puts it under the bed. He sees this as an area where it is hard to get this user. He is out.
Kevin O'Leary will give them $80,000 for 20%. The payback comes when they pay themselves. if they get paid $80,000 he gets $20,000. Kevin O'Leary offers to sue the patent infringers as well. They do a deal with Kevin O'Leary.
Lori Greiner knows how to find a stud, but the patent is critical in this situation. She thinks the PRx Performance Profile Rack is brilliant. She hopes they get the patent, but for now, she is out.
Robert Herjavec loves what they are doing, and if you want to make a lot of money in the fitness business, you have to make something simple. The profile rack is complicated. He is out.
PRx Performance Profile Rack after Shark Tank
The PRx Performance Profile Rack deal went through with Kevin, and things are going well. Kevin made the trip to Fargo, North Dakota for filming for their Shark Tank update. The guys took Kevin out on the ice to their ice house for ice fishing.
Kevin walks out on the ice after coming to Fargo, North Dakota to talk numbers. The Shark Tank effect has them at $1.5 million after the show.
They do a Fargo fish fry after talking business in their home.
PRx Performance sells the Profile Rack and accessories on Amazon here.