What is BoomBoom and how did it fare on Shark Tank Season 10? BoomBoom is an all-natural nasal inhaler designed to provide aromatherapy benefits and a refreshing sensation. The husband-and-wife team behind BoomBoom, John and Chelsea Pinto, appeared on Shark Tank Season 10 seeking $300,000 for a 10% stake in their company. Despite impressive sales figures and growth potential, they faced tough questions from the Sharks about profit margins and market viability. Ultimately, they left without securing a deal from any of the investors.
Summary
- BoomBoom is an all-natural nasal inhaler product.
- Founders John and Chelsea Pinto pitched on Shark Tank Season 10.
- They asked for $300,000 for 10% equity.
- They did not secure a deal on the show.
- BoomBoom is still in business and available at major retailers like CVS, Rite Aid, and Walmart.
- The company is estimated to be worth between $3 and $4 million.
BoomBoom Shark Tank Update | Shark Tank Season 10
BoomBoom, the company behind all-natural nasal inhalers, stepped into the Shark Tank in Season 10, hoping to breathe new life into their business.
Founders John and Chelsea Pinto presented their unique aromatherapy product, designed to refresh and rejuvenate, to the panel of investors.
While they ultimately walked away without a deal, their appearance on the show marked a significant point in their entrepreneurial journey.
BoomBoom on Shark Tank
1. The Pitch
| Entrepreneurs | John and Chelsea Pinto |
|---|---|
| Business | BoomBoom – All-natural nasal inhalers |
| Ask | $300,000 for 10% equity |
| Deal | No deal |
| Sharks | Robert Herjavec, Mark Cuban, Lori Greiner, Kevin O’Leary, Charles Barkley |
| Season – Episode | Season 10 – Episode 4 |
| Original Air Date | October 28, 2018 |
| Website | BoomBoom |
| Key Points of Pitch |
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| Why Sharks Declined |
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2. Sharks’ Questions and Concerns
The Sharks were intrigued by the BoomBoom product but had several concerns.
- Profit Margins: A key concern was the low profit margin, especially with wholesale pricing. The Sharks questioned the sustainability of the business model with such tight margins.
- Market Viability: Some Sharks were unsure about the long-term demand for nasal inhalers beyond their traditional use for congestion relief. They questioned if BoomBoom was a novelty item or a product with lasting appeal.
- Competition: The Sharks also pointed out the existing competition in the market, including established brands like Vicks. They questioned how BoomBoom would differentiate itself and capture market share.
3. The Offer and Counteroffer
Despite the concerns, Robert Herjavec saw potential in BoomBoom and extended an offer of $300,000 for 36% equity.
This offer significantly deviated from the founders’ initial ask of 10% equity. John and Chelsea countered, but ultimately, the gap was too wide to bridge.
4. Walking Away
John and Chelsea made the difficult decision to walk away from Robert’s offer. They felt that giving up that much equity would dilute their ownership and control over the company.
This decision reflected their strong belief in their product and their vision for the future of BoomBoom.
BoomBoom Update After Shark Tank
Despite not securing a deal on Shark Tank, BoomBoom has continued to thrive. John and Chelsea leveraged their appearance on the show to propel their business forward, demonstrating that success doesn’t always require a Shark’s investment.
1. Continued Growth
The exposure from Shark Tank introduced BoomBoom to a wider audience. This increased brand awareness translated into a surge in sales and website traffic.
The company capitalized on this momentum by actively engaging with new customers and expanding their product line.
2. Retail Expansion
BoomBoom strategically focused on expanding its retail presence. They secured distribution deals with major retailers such as CVS, Rite Aid, and Walmart, making their products readily available to consumers across the country.
This expansion significantly broadened their reach and contributed to increased sales.
3. Financial Performance
While exact figures are not publicly available, it is estimated that BoomBoom is currently worth between $3 million and $4 million.
This valuation highlights the company’s significant growth since appearing on Shark Tank. Their continued success is a testament to their effective business strategy and the growing demand for natural wellness products.
Was Not Accepting a Deal the Right Decision?
Declining a Shark Tank offer is always a gamble. In BoomBoom’s case, it appears to have been a calculated risk that paid off.
- Maintaining Control: By not accepting Robert’s offer, John and Chelsea retained full control over their company. This allowed them to execute their vision without external influence.
- Stronger Negotiation Position: Their decision showcased their confidence in BoomBoom’s potential. This could put them in a stronger position for future negotiations with investors or potential buyers.
- Proven Success: BoomBoom’s continued growth and expansion after Shark Tank suggest they were capable of succeeding independently.
However, it’s important to acknowledge the potential benefits of a Shark Tank deal:
- Mentorship and Expertise: A Shark could have provided valuable guidance and industry connections.
- Faster Growth: A Shark’s investment could have fueled more rapid expansion and marketing efforts.
Ultimately, whether declining the deal was the “right” decision is subjective and depends on the founders’ long-term goals for BoomBoom.
The Future of BoomBoom
BoomBoom appears to be well-positioned for continued success.
- Expanding Product Line: They could introduce new scents, formulations, or even complementary aromatherapy products to cater to a wider audience.
- Strategic Partnerships: Collaborating with other wellness brands or influencers could further increase brand awareness and reach new customers.
- Focus on Sustainability: Highlighting the natural and sustainable aspects of their products could resonate with environmentally conscious consumers.
The future holds exciting possibilities for BoomBoom. Their journey demonstrates that with a strong product, strategic planning, and a bit of entrepreneurial spirit, success is possible even without the backing of a Shark.
FAQs
Where can I buy BoomBoom nasal inhalers?
BoomBoom inhalers are available on their website, Amazon, and at various retail locations like CVS, Rite Aid, and Walmart.
What are the different scents available?
BoomBoom offers a variety of scents, including Berry Breeze, Tropical Rush, Cinnamint, Wintermint, and Melondrop.
Are BoomBoom inhalers safe for everyday use?
Yes, BoomBoom inhalers are made with all-natural essential oils and are generally safe for daily use. However, it’s always a good idea to consult with a healthcare professional if you have any concerns or sensitivities.
How does BoomBoom compare to other nasal inhalers?
Unlike traditional nasal inhalers that focus on congestion relief, BoomBoom emphasizes aromatherapy benefits and a refreshing experience.
Did BoomBoom get a deal on Shark Tank?
No, BoomBoom did not secure a deal on Shark Tank, but they have continued to grow and succeed independently.
The Bottom Line
BoomBoom’s journey is a compelling example of entrepreneurial resilience and strategic decision-making. While they didn’t secure a Shark Tank deal, they leveraged their appearance on the show to build brand awareness and drive growth.
Their focus on retail expansion and product development has proven successful, leading to a multi-million dollar valuation. BoomBoom’s story is an inspiration for aspiring entrepreneurs, demonstrating that success can be achieved through determination, a strong product, and a well-executed business strategy.
