Whatever Happened To BoomBoom Naturals After Shark Tank?
BoomBoom Naturals has created an aromatherapy product like no other. Unlike similar items made specifically for allergy sufferers, BoomBoom's fresh-smelling nasal inhalers act more like chewing gum for your nose, giving users a burst of air that leaves you feeling refreshed. Their varied lineup includes Melon Drop, Tropical Rush, and Berry Breeze scents.
Co-founder John Pinto experienced difficultly breathing through his nose following surgery for a basketball injury. Amongst taking a trip to Thailand, he discovered the benefits of nasal sticks made from essential oils that were commonly used in Southeast Asian countries. Pinto put in four additional years of research, teaming up with scientists and bringing on business partner Brandon Garrett, who does not appear in BoomBoom's "Shark Tank" segment. In 2016, the company was officially launched, claiming that it possessed the first ever energizing inhaler on the market. The team also began an Indiegogo campaign in an effort to ramp up production, but it didn't get very far, only making $5,795 of a $25,000 goal.
Thankfully, Pinto received another opportunity to find funding for BoomBoom when a "Shark Tank" casting call opened up in early 2018. They'd eventually get their chance to shoot their shot on Season 10 of the hit series, but will the money hungry celebrity investors be able to breathe in this new opportunity?
What happened to Boom Boom Naturals on Shark Tank?
John Pinto and his wife Chelsea are looking for a $300,000 for 10% of BoomBoom Naturals. Amongst trying it out, the sharks, including guest star Charles Barkley, all enjoy the product's rejuvenating quality. Chelsea shares that similar items exist, but none possess the same diversity of scents as BoomBoom. The company's sales are similarly refreshing. Last year, BoomBoom did $754,000 and are on track to hit $1.1. million by the end of 2018. Additionally, the company made $120,000 in net profits after John covered his salary. Its sales are coming from a mix of online traction through its website and Amazon alongside wholesale distributors.
However, the price point raises some eyebrows. Online margins seem good, with a single pack costing $0.70 to make and selling for $7.95. However, its wholesale price is $1.50 to $2. They've experimented with a $3.99 price point, but even then, the sharks feel that the team is cutting into their margins. John reveals that they have other investors on board who put in $200,000 for 25% of the business, which doesn't sit well with the sharks, who are being asked for more and receiving less equity. John argues that the company's growth in sales have given them added value.
The sharks are not fond of the valuation, while others don't see the product as anything more than a onetime use. Robert Herjavec is willing to go in, but he wants 36% of BoomBoom — the same amount of equity that John currently possesses. The team say that the highest they can give up is 20%, but Herjavec stays firm on his offer. At the end, the two leave the tank without a deal.
BoomBoom Naturals after Shark Tank
While it was upsetting for BoomBoom Naturals to exit "Shark Tank" without a deal, the team knew that the alternative of taking Robert Herjavec's proposal would have been far-less desirable. In an interview with Forbes, co-founder John Pinto explained, "Had we accepted the 36% offer, that equity would have been split between myself and the other co-founder, which would essentially make the investing shark majority owner and not something that we could feel comfortable with." The team disclosed elsewhere that they were ultimately shooting for Lori Greiner, given her history of investing in one-of-a-kind products.
Even if a lucrative "Shark Tank" deal ended up as a fantasy, the effects of appearing on the hit show became an instant reality. The October 2018 premiere night of the company's "Shark Tank" segment put the "boom" in BoomBoom's name, as its website skyrocketed with 20,000 new visitors while its Amazon store experienced enough traffic to cause a temporary crash. Additionally, BoomBoom made online sales equivalent to what it'd normally make in six month's time. "A layer of built-in growth occurs when appearing on 'Shark Tank' because of the visibility and exposure to the mass market," John said in an interview with Saptora Report. "We know BoomBoom Naturals would have continued to grow to where we are today, but I don't know if it would have happened as quickly."
Is BoomBoom Naturals still in business?
Chances are you won't have much difficulty trying to find BoomBoom Naturals' extensive product line. On its website and Amazon stores, customers can find its mint, wintermint, tropical, and lavender scented sticks sold in 3-packs containing a single scent or a 4-pack with one of each variety. Its Amazon store also offers a "Focus" roll-on oil option meant for your skin. However, while its other products have a high review range average of 4 to 4.5 stars on the site, the roll-on alternative currently possess fewer reviews and a 3.3 star average rating, suggesting it isn't as big a seller.
BoomBoom has also made a splash in the retail space. Its items are available in numerous CVS, Rite Aid, Albertsons, and Walmart locations. According to the company, its products are now carried in 10,000 nationwide stores. Its website also contains a convenient store locator. Along with introducing its new lavender scent in March, the team also unveiled an updated look for the product.
The company remains active and rather successful in the social media space. It has thousands of followers and likes across its Instagram, TikTok, and Facebook accounts, with much of its content consisting of man-on-the-street reactions and collaborations with holistic influencers. BoomBoom currently makes between $4 to $5 million in annual revenue with an estimated net worth of $4 million.
What's next for BoomBoom Naturals?
The team behind BoomBoom Naturals is not only hoping to continue its growth as a company, but aim to have its products become more commonplace. On LinkedIn, co-founder John Pinto shared that BoomBoom and similar brands still have yet to hit their stride in Western society. "At trade shows, I'd say 10-15% of people get all shy/awkward about trying it in front of us," he said. "In the US, nasal products are associated with drugs or being sick. We're going to change that. Our goal is to become part of culture. To become the 'Kleenex' brand of nasal sticks."
That's a mighty big vision, but the team are taking steps to expand awareness through various means. BoomBoom recently teamed up with the entrepreneurship platform Flagship in an effort to scale the company and drive up sales. With the help of Flagship's extensive network of creators, BoomBoom saw over 200 new orders come in and have seen a five time return on its upfront costs to join the program. The team anticipate hitting twice that by the holiday season. Additionally, John Pinto continues to make moves expanding BoomBoom's retail efforts, having recently pitched to Kroger.