Husband wife duo, John and Chelsea Pinto, pitched their aromatherapy accessory company during
If you’re short on time, here’s a quick overview of what happened to BoomBoom after
John and Chelsea Pinto appeared on
|$300,000 for 36% equity
Shark Tank BoomBoom Update
- Entrepreneurs: John and Chelsea Pinto
- Business: Nasal inhalers
- Ask: $300,000 for 10% equity
- Result: No deal
- Sharks: None
Founders of BoomBoom, John and Chelsea Pinto, brought their nasal inhaler sticks to
Packed with powerful essential oils, these all natural, plant therapy nasal inhalers will instantly soothe your nasal cavity and leave you with a feeling of cool freshness and wellness.
Because of this, they decided to create one. BoomBoom inhaler sticks are all-natural, and made with essential oils and menthol, along with other stimulating scents.
Further, while most nose products are for allergies or congestion, BoomBoom is actually intended for rejuvenation and refreshment. In fact, John says that with each inhale, you’ll experience a cool, tingly feeling, that makes you feel alive.
The product comes in 5 scents. These include Berry Breeze, Tropical Rush, Cinnamint, Wintermint, and Melondrop. At this point in the pitch, the couple passes out samples to the sharks, who are certainly eager to try them.
John and Chelsea quickly answered the sharks’ question about their sales numbers, explaining that their company did $750,000 in sales just in the last year alone. At the time of their pitch, they were on track to do $1,000,000 or more in sales, which certainly seemed to impress a majority of the sharks.
The sharks wanted to learn more about how the product was being sold. Surprisingly, John and Chelsea explained that most of the sales came from their very own website, or through Amazon. Additionally, they were also bringing a large chunk of their sales through wholesale orders.
In terms of cost, it’s only $0.70 to make a single pack, and they then retail it for $7.95 on their website. Robert Herjavec says they must be making a ton of money, and John says that net profit was $120,000, after taking a salary.
However, John then reveals that his wholesale cost is $1.50. This becomes a big concern for the sharks.
In addition to this, Kevin O’Leary doesn’t like the valuation, so he drops out.
Lori Greiner thinks the product is interesting, but more of a one-time buy. For this reason, she drops out next.
Likewise, guest shark Charles Barkley likes the product, but can’t see himself using it on a regular basis. Because of this, he too drops out.
Mark Cuban doesn’t think the profit margins are strong enough, So, he goes out next.
The only remaining shark was Robert Herjavec, who seemed willing to negotiate. He made an offer of $300,000 for 36% equity.
After a few counteroffers, John and Chelsea decided to pass on the opportunity to make a deal with Robert and ultimately left
While John and Chelsea left the show without a deal with any of the sharks, let’s take a look at the BoomBoom update and see if this was a good move.
We do actually have good news to share in our BoomBoom update! That’s because the company is still in business, and its nasal inhaler products can be found at CVS, Rite Aid, and Walmart.
They’re also available on Amazon, and the the company is believed to be worth between $3 million and $4 million!
As you can see from our BoomBoom update, the company has performed pretty well for leaving without a deal, but it’s certainly possible their potential would have been much higher had they struck a deal with Robert or any of the other sharks.
Only time will tell if they are able to remain in business, and continue to bring in annual revenues for their collection of nasal inhaler products.
If we learn anything new about BoomBoom, we will certainly let you know. In the meantime, you can check out our other company updates from Season 10 Episode 4 by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!