Firefighter Turnout Bags Update | Shark Tank Season 8
Nicole Rasor and her husband Matt came to
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
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
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.
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