Need a breath of fresh air? That’s exactly what Rob Neuner and Mike Grice sell with Boost Oxygen. These entrepreneurs have been giving the wellness industry a serious oxygen boost since 2007 with their specialized canisters containing 95% pure oxygen (compared to the 21% we get from regular air).
What started as Neuner's solution to jet lag during his beer distribution days in Prague has now exploded into a $20 million business available everywhere, from your local CVS to Walmart. These days, you're more likely to spot a Boost Oxygen canister than not, with their products flying off shelves in major retailers across America and 30 countries worldwide.
From athletes and hikers to seniors and individuals with respiratory conditions, it seems everyone's taking a deep breath of what Boost Oxygen offers.
How did Boost Oxygen do on Shark Tank?
When Neuner and Grice walked into the Tank during Season 11, they weren't just looking for pocket change. The duo boldly asked for $1 million for a 5% stake, leaving the Sharks breathless at the $20 million valuation. However, with $6.4 million in projected sales for 2019 and a whopping 95% market share in the US, they had the numbers to back up their ambitious ask.
While most Sharks couldn't catch their breath enough to make an offer, Kevin O'Leary saw the potential and swooped in with his signature move - a deal with a twist. After some negotiation, they settled on $1 million as a loan at 7.5% interest plus 6.25% equity. Talk about having your oxygen and breathing it too!
What happened to Boost Oxygen after Shark Tank?
In just 18 months after their Shark Tank appearance, this company proved they weren't just full of hot air. They doubled their retail locations from 4,000 to 8,000 and saw sales skyrocket to $15 million. Even the pandemic couldn't slow them down - if anything, it helped people realize just how valuable supplemental oxygen could be.
O'Leary's involvement proved to be more than just financial oxygen. He became the face of their promotional efforts, helping educate the public about the product's benefits. The company even expanded into aromatic offerings with varieties like Menthol Eucalyptus and Peppermint because why just breathe oxygen when you can breathe fancy and flavored oxygen?
Today, Boost Oxygen is practically everywhere - from major retailers to over 1,000 Publix Super Markets in the South. They've gone international with distributors in 30 countries and even launched a subscription service for those who just can't get enough O2. Their impressive client list includes everyone from the Toronto Blue Jays to Brie Larson and the Kardashians. They even made it onto "The Simpsons" - now that's what we call making it big!
Looking ahead, founder Robert Neuner dreams of making Boost Oxygen as synonymous with supplemental oxygen as Kleenex is with tissues. With their recent spot on the Inc. 5000 list of America's fastest-growing private companies and an estimated worth of $20 million, they might have enough wind in their sails to make it happen.
As O'Leary himself put it, "Boost Oxygen is one of these deals that you say to yourself, 'Why didn't I think of that?'" Well, Mr. Wonderful, at least you thought about investing in it!
From a simple solution for jet lag to a multimillion-dollar empire, this company's journey proves that sometimes the best business ideas are the ones that make you take a deep breath and stare you right in the face when you do. With Kevin O'Leary's backing, international expansion, and a growing product line, it seems the sky's the limit for this company.
As they continue to educate consumers about the benefits of supplemental oxygen and expand their reach, one thing's clear: Boost Oxygen isn't just blowing hot air – they're building a brand that's here to stay.
Trending
Boost Oxygen has generated about $84 million in revenue in 2024.
Reply
