Ever wanted a balance board that was so much more? The Simply Fit Board may just be the solution to your problem. Linda Clark and Gloria Hoffman brought their company to
Shark Tank Simply Fit Board Update
- Entrepreneurs: Linda Clark and Gloria Hoffman
- Business: Uniquely-shaped balance exercise board
- Ask: $125,000 for 15% equity
- Result: $125,000 for 20% equity
- Shark: Lori Greiner
Mother-daughter team Linda and Gloria pitched their Simply Fit Board with a demonstration by the sharks. Kevin O’Leary, Mark Cuban, and Robert Herjavec each gave the board a try. Robert had a blast, while Mark had some issues because he took his shoes off.
FITNESS WITH FUN – Simply Fit Board is the effective way to get fit in minutes a day. Twist your way into your fat burning zone. Improve balance and coordination. Gain strength by toning your abs, legs, core, and upper body!
Gloria explained that they got the idea for the board because of a skateboard toy and believed it would help those over 40. They had a platform to help you use the board on your hardwood floors and the combination of the board and platform was patented.
They’ve done over $575,000 in sales, including $260,000 in profit. It cost them $9.87 to make the board, which they sold for around $45. The sharks are pleased with these margins.
Kevin offered $250,000 for 30%. Robert went out because he said it wasn’t proprietary, while Barbara’s past experiences with infomercial exercise products caused her to go out, too. Lori Greiner, the Queen of QVC, thought it was right up her alley. She offered $125,000 for 20% equity. She argued that she knew how to blow the product up.
Gloria asked if Lori would go down to 18%, but Lori holds firm at 20%, saying she feels it was a fair offer. Ultimately, Linda and Gloria accept her offer. Let’s check in on our Simply Fit Board update to see where the company is now.
If the Simply Fit Board looks familiar, you may have seen it on an infomercial. Research for our Simply Fit Board update found that the product was a hit on QVC and across various television networks. The product is now in every Walmart across America.
Products are still available on Amazon, but the company website has been pulled. Regardless, the company has done over $160 million in sales and recently signed a deal with a company called All Star Innovations, which markets a lot of “As Seen on TV” products.
Check out our other company updates from Season 7 Episode 7 before you go.
For more on companies and products, be sure to stop by our Season 7 products page.