Firefighter Turnout Bags Update | Shark Tank Season 8

Nicole Rasor and her husband Matt came to Shark Tank Season 8 seeking $250,000 for a 33% equity in their business, Firefighter Turnout Bags. As fortune would have it, the couple left with a partner in Lori Greiner for $250,000 for 50% equity. Despite landing a deal, they don’t always work out, so keep reading our Firefighter Turnout Bags update to see what happened after the tank.

Shark Tank Firefighter Turnout Bags Update

• Entrepreneur: Nicole and Matt Rasor
• Business: Bags handcrafted from firefighter uniforms
• Ask: $250,000 for 33% equity
• Result: $250,000 for 50% equity
• Shark: Lori Greiner

Firefighter gear is made out of high-quality materials. It has to be because firefighters need to do their job safely. However, the gear has expiry dates. In an effort to recycle the materials, Nicole and Matt Rasor got to work on Firefighter Turnout Bags.

The whole thing started after Matt asked Nicole to remove a pocket from his turnout coat. Since then, they’ve created everything from backpacks and pouches to duffel bags and wallets using old fighter gear. By the time the couple pitched on Shark Tank, they had done $194,000 in sales in the last 12 months.

While the sharks applauded Matt and Nicole’s commitment to using expired firefighter gear, they had a few concerns.

Kevin O’Leary thought that the couple needed to get a manager. Meanwhile, the sharks agreed that the main challenge was how to expand while remaining authentic. Because of this, Daymond John, Mark Cuban, and Kevin O’Leary, all went out in quick succession.

Robert Herjavec had a different concern. He thought that Nicole would find it difficult to run and grow the business. As a result, he offered to buy the entire company for $500,000. Lori Greiner had a different idea. She wanted to partner with Nicole and offered $250,000 in investment for a 50% share in the business. The only contingency was that they donate a percentage of each sale to firefighter charities.

With two offers on the table, the husband-and-wife duo decided to accept Lori’s offer and become partners.

Now, if you’re waiting for a Firefighter Turnout Bags update, we’ve got unfortunate news for you. Although securing a deal in the Shark Tank put the company in the national spotlight, it appears that its growth consumed too much of Nicole’s time. As a result, in 2021, Nicole decided to close down the company permanently so she could spend more time with her family.

According to Nicole, the company was able to recycle around 50,000 pieces of expired firefighter gear in 13 years before closing in February 2021.

Before you go, be sure to take a look at the other company updates from Shark Tank Season 8 Episode 16:

• Tranquilo Update
• Doc Spartan Update
• Peaceful Fruits Update

Get more from Shark Tank Season 8 by checkout out our Season 8 products page.