Simply Fit Board is pitched by Gloria Hoffman and Linda Clark in Shark Tank Season 7. Gloria and Linda are beating the battle of the bulge with a simple exercise tool.
The Simply Fit Board strengthens your core, back, and legs just by standing on the board. The plastic is highly lubricated to allow you to twist and move the board quickly.
Linda came, and Gloria came up with the idea by playing around on a Skateboard. The Simply Fit Board by itself does not have a patent, but they have a base that goes with it that is patented.
Simply Fit Board Sales
They have sold 15,700 boards in eighteen months, grossing $575,000, retailing for $45 online, and cost $9.87 to make. The profit is $268,000.
Company: Simply Fit Board
Website
Entrepreneurs: Gloria Hoffman and Linda Clark
Ask: $125,000 for 15% equity
Companies in this episode: Wink Frozen Desserts, Saavy Naturals, Clean Cube, Simply Fit Board
Season 7 Episode 707
Sharks: Mark Cuban, Daymond John, Kevin O’Leary, Lori Greiner, Robert Herjavec
First Aired: 11/06/2015
Deal: Lori Greiner $125,000 for 20%
What do the Shark Tank Investors say about Simply Fit Board
- Mark Cuban says the issue isn’t will you be copied, but how big can you be in the industry. He loves what they are doing, but network marketing is not his strength so, he is out.
- Lori Greiner says this is right up her ally; she offers $125,000 at 20%. She will always fund purchase orders. Linda and Gloria asked if they would do a deal together, and Lori says no. They requested Lori to do 18%, but Lori holds at 20%. They accept the offer.
- Kevin O’Leary makes an offer. He offers $250,0000 for 30% He believes that this product will find a niche for people over 40, and you will need the inventory.
- Barbara Corcoran this is a product that needs an infomercial, and she has had bad experiences with infomercials so, she is out.
- Robert Herjavec tells Gloria and Linda that this is a great product, but there is nothing proprietary so, he is out.
After Shark Tank – Simply Fit Board
The Simply Fit board gets a Shark Tank Update reporting on the success of their exercise product. In 24 hours after Shark Tank, they did 1.5 Million dollars in sales. Nine months after they are over nine million dollars and are entering Walmart stores.