Simply Fit Board Shark Tank Update – Shark Tank Season 7
A mother-daughter duo, Linda and Gloria Clark, pitched Simply Fit Board, the colorful balance board. They scored a deal with one of the Sharks on Shark Tank Season 7.
Mother-daughter duo Linda Clark and Gloria Hoffman Clark rolled into Shark Tank Season 7 Episode 7 with a colorful way to twist your way into shape, the Simply Fit Board. Would this fun fitness gadget get the Sharks spinning into a deal or wobbling away?
About Simply Fit Board
| Category | Details |
|---|---|
| Business Name | Simply Fit Board |
| Founders | Linda Clark and Gloria Hoffman Clark |
| Industry | Fitness and E-commerce |
| Product | Uniquely-shaped balance exercise board |
| Investment Asked | $125,000 for 15% equity |
| Deal Status | Deal secured with Lori Greiner |
| Deal Outcome | $125,000 for 18% equity |
The Simply Fit Board is a rigid, plastic board with a concave curve that you stand on. While standing, the shape of the board works your core by forcing you to stay balanced.
Adding a twisting motion works the core even more. You can also do planks with a Simply Fit Board. The patented board helps users burn fat, slim their waistline, tone their legs, strengthen their core, and improve balance. The standard ten-minute-a-day workout allows you to see results in as little as six weeks.
Linda and Gloria started the business in 2013, selling their product out of the trunk of their cars.
The product, which is made in the USA, comes in 5 bright colors and costs $44.95. It was available at about a dozen retail locations in Colorado, New Mexico, Kansas, and Texas, as well as online on the company website.
By the time of filming, they had sold 28,000 Simply Fit Boards, which was over $1 million in total sales! Linda and Gloria make the boards in their Simply Fit Board Factory in Lamar, Colorado. They likely needed a Shark to help accelerate production and distribution.
Simply Fit Board Shark Tank Pitch
Linda and Gloria entered seeking $125K for 15% equity in their business. They said battling the bulge with a Simply Fit Board develops cardio, core muscles, and improves balance through twisting movements. They had hundreds of exercises to go with their product.
Mr. Wonderful wanted to try it, and Mark joined him. Mr. Wonderful looked a bit awkward on the board, but Mark Cuban could hardly stand up. Robert came up and twisted like a pro.
While the Sharks were twisting, Linda explained that they got their inspiration from a skateboard toy. They had also developed a companion platform to enhance balance exercises; together, the board and platform combination are patented.. Mr. Wonderful thought it could be easily knocked off.
At the time of their Shark Tank appearance, they had grossed over $400K, $260K of which was profit. Each board costs approximately $9.89 to manufacture.
Did Simply Fit Board Get a Deal on Shark Tank?
After hearing the numbers, Mr. Wonderful offered $250K for 30%, which is more money, but at the same valuation they asked for.
Robert Herjavec thought it was not proprietary; he was out. Barbara Corcoran had a bad experience with an infomercial exercise product in the past; she was out.
Lori Greiner said this product is right up her alley, but they need to strike quickly. She offered $125K for 20% equity. Lori said the ladies need to think about the Sharks’ backgrounds when they make their decision.
Gloria asked if Lori would go in with Mr. Wonderful, and Lori said no.
Lori continued to argue the benefits of doing a deal with her, and Gloria countered with $125K for 18% equity. They made the deal, and Barbara said they chose “Beauty over the Beast” after they accepted Lori’s offer.
Simply Fit Board Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Right after airing, Simply Fit re-did their website. They also appeared with Lori on QVC the day after airing and sold out three semi-trailers’ worth of merchandise, selling out of all their stock in the process!
Since their appearance, a TV commercial featuring Lori Grenier appeared. It’s seen regularly on many cable TV channels. The commercial is a direct sales commercial, touting the benefits of the board and urging viewers to “act now.”
In an update segment in Shark Tank Season 8 Episode 7, the mother and daughter team revealed that they did $1 million in sales following their air date. Within the following year, they had over $9 million in sales. They also got the product into every Walmart in the USA!
As of August 2021, they had done over $160 million in sales and are still very much in business. By May 2022, the company website was down, but the products were still for sale on Amazon and elsewhere.
The company later partnered with All Star Innovations, a business that licenses and markets products for an equity percentage of the business. These are the people who brought the world “The Snuggie.”
In October 2023, the company was the 14th largest Shark Tank company in sales with lifetime sales of $174 million.
By August 2024, Gloria is still involved with the business, which is now called Simply Fit Systems. It appears Linda is enjoying retirement.
Posts About Simply Fit Board on Shark Tank Blog
Learn more about the Workout Board from Simply Fit Board.
Where Can You Buy It?
The official website of Simply Fit Board appears to be inactive, and their social media pages are not accessible. However, their products are available for purchase on Amazon.
Quick Summary
- Mother-daughter duo Linda Clark and Gloria Hoffman Clark pitched the Simply Fit Board, seeking $125K for 15% on Shark Tank Season 7.
- Lori Greiner struck a deal for $125K for 18% equity, helping launch the product nationwide through QVC and Walmart.
- The brand became a massive hit, generating over $174 million in lifetime sales and ranking among the top 15 highest-grossing Shark Tank companies by 2024.
Check out other products that appeared in the Shark Tank Season 7 episodes.
Interested in knowing about other businesses that appeared on the same episode? Check out their business updates!
