What Happened to MaxPro Fitness After Shark Tank?
What is MaxPro Fitness?
MaxPro Fitness is a compact piece of fitness equipment that can be used by people of various fitness levels to get a full-body workout. It’s lightweight yet powerful, and it can replace most gym equipment while weighing less than 10 pounds and folding in half.
The MaxPro set includes a three-piece Quick Connect Long bar, workout grips, ankle/wrist straps, a door mount, and a USB charger made of aerospace-grade metal and impact-resistant polymers. The nicest aspect is that it comes fully constructed.
Nezar Akeel, who holds a BS in mechanical engineering from Wayne State University and an MS in engineering management from Rensselaer Polytechnic Institute, invented and built MaxPro.
He worked in the automotive industry for many years, on everything from interior plastic moldings to truck and trailer components.
Who is the founder of MaxPro Fitness?
MaxPro was founded and designed by Nezar Akeel. After Nezar missed his workouts while on business, he came up with the idea for MaxPro.
He has been devoted to working out and strength training since he was a Division I soccer player at Eastern Michigan University.
He sought for a portable fitness machine but was unsuccessful. He’d have to do it himself! Nezar began the design 20 years ago by scribbling on a cocktail napkin. He worked on it on and off for a few years before deciding to make his dream a reality.
In May of 2019, they launched a successful Kickstarter campaign, raising $213,676. The products will be sent in August of 2020. It is less costly than comparable home gym gadgets like the Bowflex or NordicTrack at $979.
To make particular workouts easier, a wall track may be attached to the cable machine. They also sell a bench and a back bag to complement the Max Pro.
Their whole product line is accessible on their website as well as on the Amazon Store. They’ve only been in business since 2019, but they’re quickly becoming well-known.
What Happened to MaxPro Fitness’ Pitch on Shark Tank?
Nezar Akeel seeks to persuade a Shark to invest in Max Pro, a full-body portable cable machine, in Shark Tank episode 1311. Nezar is searching for a Shark’s help in controlling his growth.
Nezar entered the Shark Tank with the help of a woman carrying a backpack. According to him, health and fitness are important to many people all around the world.
She takes the Max Pro out of its packaging and presents it to you. The Sharks look to be taken aback. He demonstrates the interaction between the machine and the app.
The Sharks were taken aback when Nezar asked for $500,000 for a 2.5% stake in his company, which was worth $20 million.
Robert inquires about the 300-pound stress and was permitted to test it onstage. When Nezar swears its five pounds, Robert begins curling, and the Sharks laugh.
Kevin asks about sales. They spent five years developing the product. They generated $4 million in sales beginning in July of 2020.
They had $8 million in sales in 2021 and hope to have more than $12 million by the end of the year. The Sharks were completely outclassed.
Lori inquires about the flexibility of the equipment, and he shows a video montage of people working out with the device.
They cost $205 to build, $20 to transport, and $849 to sell. They have a consistent cash flow and over 3000 app users every day.
They will barely make $50,000 in 2020. They expect to break even in 2021. He was able to secure a revenue-based line of credit with a 28 percent interest rate since they had $5 million in inventory.
He tells how, over time, Shaquille O’Neil joined him at an earned ownership rate ranging from 1.5 percent to 5 percent.
After a brief pause, Daymond makes an offer: $500,000 with a royalty of $25 per unit until his money was repaid, after which he earns 4% equity.
Nezar expresses a desire for a Shark to aid him in breaking into the retail world and opening doors. Daymond fears he was being passed over.
Lori was interested in the return rate on equity shares, which was less than 5%.
Mark was wondering if he needs the app because it gives him feedback on his workouts. Kevin was dissatisfied with the program he was using.
Mark offers $500,000 in return for 3% equity and the advisory shares provided to Shaq by Nezar.
Robert claims that he will be unable to match with Mark’s offer and exits. Lori shares my sentiments.
Nezar wants to ask Mark a question, so Daymond exits. He asks Mark whether he can help him with a line of credit.
Mark says he won’t commit right now, but it’s something he does on a regular basis. Nezar secures the deal, and Mark steps on stage to put the machine through its paces.
What Happened to MaxPro Fitness After Shark Tank?
Mark twisted a photo of himself displaying the Max Pro on the night of the presentation. The deal with Mark was finalized.
MaxPro has grown from a pre-revenue Kickstarter campaign to a fast-growing company that has sold over 10,000 devices in 56 countries, including all 50 states in the United States. As of January 2022, the company was still in business and had generated more than $10 million in sales.
MaxPro Fitness’s Competitors
MaxPro Fitness’ main competitors are Digitalhealthbuy, Fitness Deals Online, Fitness Cosmo, and American Barbell, among others.
MaxPro Fitness’s Net Worth
During the pitch, the firm was valued at $20 million; following Mark Cuban’s investment, the company was worth $16.7 million. Since then, the company’s net worth might have been more.
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MaxPro Fitness FAQs
What kind of exercise does the unit offer?
The Max Pro offers High Definition workouts. Although it is a cable machine, the pieces are portable and relatively lightweight.
The customer sets up their station at home, works out in their living room, and takes it with them on a trip. There is also a wall track that attaches to the Max Pro.
How many different workouts can customers create?
Customers can select customized workout plans, and the app will monitor their progress. It’s up to them which program works best for them.
How many different features does the Max Pro have?
The Max Pro has several programs and features that make it extremely versatile, including Exercise Platter – The unit holds five discs at one time, allowing for exercise plates to be placed horizontally and vertically making it possible to perform a total-body workout.
What is the weather-resistant rating of the MaxPro?
The MaxPro is weather-resistant and can withstand any weather.
How many different kinds of discs fit on the machine?
The MaxPro can hold six discs comfortably. Customers have the option to choose from one to twelve discs, depending on the program they select.
Who manufactures the product?
MaxPro Fitness’s product is manufactured by Lane World in China.
What is the warranty period?
MaxPro Fitness covers defects under normal use for 90 days from the purchase date.
Is MaxPro Fitness guaranteed?
Yes, MaxPro Fitness has a 90-day 100% money-back guarantee. If the customer is not 100% satisfied with their purchase, they can return it within 90 days of the purchase of the unit.
What is the benefit of MaxPro Fitness?
The MaxPro gives off a green light when the training end of its workout has been achieved. The end of the workout is displayed on the touch screen that detects the customer’s level of sweat.
What about the royalties?
MaxPro Fitness pays royalties for each unit sold. The company intends to continue investing in product development and improvements and has plans to expand internationally.
Is MaxPro Fitness help to lose weight?
Weight loss is inevitable; however, MaxPro Fitness offers a lifestyle product and provides multiple programs.
What is the testimonial?
In addition to providing a 10-week training program, the app provides customer-created weight loss goals. The customer can choose whether they want to lose weight or build muscle. Customers also have an energy bar recipe stored in the app.
How do I make payment to MaxPro Fitness?
You can make a payment using a credit card, debit card, or PayPal.
Who owns MaxPro Fitness?
MaxPro Fitness is privately held and majority-owned by a group of CEOs and entrepreneurs who saw the opportunity in the market for a product that would allow customers to create and track their own workouts when combined with an app.