Max Pro Fitness is a company that has gained significant attention, especially after its appearance on Shark Tank. Founded in 2019 by Nezar Akeel, this innovative portable resistance cable machine has revolutionized the fitness industry. In this article, we will delve into the journey of Max Pro Fitness, from its early days to its post-Shark Tank success, current status, and prospects for the future.
Max Pro Fitness Before Shark Tank:
Before entering the Shark Tank, Max Pro Fitness was already making waves in the fitness industry. The company conducted a Kickstarter campaign in May 2019, raising an impressive $213,676. The product’s unique selling point was its portability and ability to provide a full-body workout, making it a game-changer for fitness enthusiasts on the go.
The initial cost of the Max Pro Fitness product was $879, which included various components such as the cable machine, workout handles, ankle/wrist straps, a door mount, and a USB charger. Notably, the cable used in this machine was 15 times stronger than steel, utilizing a fiber blade with a break strength of 1000 pounds. The company’s marketing strategy was effective, and by July 2020, they had achieved sales of $4 million. This success continued to soar, with sales reaching $8 million in mid-2021 and ultimately reaching $12 million by year-end.
Shark Tank Pitch and Investment:
When Nezar Akeel, the founder of brand entered the Shark Tank in Season 13, he was seeking a $500,000 investment in exchange for a 2.5% equity stake in his company. This impressive pitch garnered the interest of several sharks.
Daymond John #1 was impressed with the product’s rapid sales growth and offered $500,000 for 25% of the company until the initial $500,000 investment was recouped, followed by 4% equity.
Kevin O’Leary, however, did not share the same enthusiasm, as he believed the fitness industry was already saturated. He opted out of the opportunity.
Mark Cuban showed genuine interest and offered $500,000 for 3% equity in the company, with an additional 5% in advisory shares over five years.
Lori Greiner, although enthusiastic about the product, encouraged Nezar to accept Mark Cuban’s offer, considering it an excellent deal.
Daymond John #2, having missed out on the opportunity, withdrew his offer.
In the end, Nezar Akeel accepted Mark Cuban’s offer, marking a significant milestone for Max Pro Fitness.
Another Shark Tank Pitch
Max Pro Fitness After Shark Tank:
The appearance on Shark Tank brought a surge of growth and recognition to Max Pro Fitness. The company was already on an upward trajectory, but the shark’s investment accelerated its success.
The app, which was being used by 3000 active users daily before Shark Tank, saw a substantial increase in users post-investment, exceeding 10,000. The coaching app, designed to be a personal trainer with professional trainers and 200 customized exercises, provided real-time feedback on reps, time, heart rate, velocity, and power when connected to the cable machine via Bluetooth.
They has also continued to develop its coaching app, incorporating new features like workout videos and guidance on using the “MAXPRO SlimLine Wall Track.”
As of December 2022, the deal with Mark Cuban remains in place. While specific financials related to the deal are not available, the company’s annual revenue was estimated at $13 million in 2022, a notable increase from the $10 million generated in 2021.
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Where to Buy Max Pro Fitness:
Their products are available for purchase, offering customers the convenience of full-body workouts at home without requiring an extensive range of workout equipment. The product comes in three variants: SmartConnect, The Elite Bundle, and Deluxe Cable Gym Setup, with a coaching app provided for free. Customers can also find discounts on the product when purchasing from Amazon.
Max Pro Fitness Net Worth:
The company’s net worth has grown significantly since its appearance on Shark Tank, with an estimated worth of $16 million. This valuation has likely increased further in the years since the show aired, as Max Pro Fitness continues to expand its customer base and generate substantial revenue. It is expected to cross the $20 million annual sales mark by 2024.
Max Pro Fitness – A Growing Business:
Max Pro Fitness is not only thriving but setting new standards in the fitness industry. The company, founded in 2019, has rapidly expanded its customer base and product offerings. With more than 50 employees, Max Pro Fitness has become a major player in the wellness and fitness services sector.
In recognition of its innovation, Max Pro Fitness received the “Best of Innovation” award in the Health and Fitness category at the Consumer Electronics Show in 2020.
As of December 2022, Max Pro Fitness remains a successful and growing business. The company’s rapid growth suggests that it will continue to be a major player in the fitness industry, providing innovative solutions for fitness enthusiasts looking to stay active and healthy in any location.
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Max Pro Fitness, founded by Nezar Akeel, is a testament to entrepreneurial success, innovation, and perseverance. The company’s journey from a Kickstarter campaign to an appearance on Shark Tank and subsequent rapid growth showcases the potential of a great idea and effective execution. With a valuable investment from Mark Cuban, the company has reached new heights, and its continued success is a testament to the growing demand for innovative fitness solutions. Max Pro Fitness is a prime example of how an entrepreneur’s vision and determination can transform an idea into a thriving business.