John Pinto and Chelsea Pinto are two entrepreneurs based in Los Angeles, California appeared on season 10, episode 4 of The Shark Tank introducing their product BoomBoom as a “new best friend for your nose”. They went on the show looking for an investment of $300,000 for 10 percent of the company.
BoomBoom is a nasal inhaler made with essential oils with the purpose of rejuvenating your mind and bringing instant freshness. These inhalers help increase focus, and refreshment works as an instant mood booster and helps enhance breathing. The product is available in different scents. Tropical Rush being the best seller they offer four more variety of scents which are Berry Breeze, Cinnamint, Melon Drop, and Water Mint.
Boom Boom at a glance:
- A nasal inhaler made with the purpose of bringing instant freshness.
- Founder: John Pinto and Chelsea Pinto
- Asked For $300,000 for 10% at a $3 million valuation on Shark Tank.
- Received no deal.
- Buy on Amazon
Index:
Founder story:
In 2010, John and Chelsea Pinto while on their trip in Thailand discovered that many people carried nasal inhalers with them to have enough energy till the end of the day, so much so that people never left their house without a nasal inhaler in their bags.
After talking to locals they found out Muay Thai fighters used nasal inhalers to regain strength after a big fight. Fascinated by the effect and story, John and Chelsea brought this nasal inhaler to the U.S for their friends and families to use.
They spent the next 3 years discovering the effects of the inhalers on the mind and body. They worked with top chemists and medical professionals in L.A to finally discover a new way to bring energy and refreshment for people. John who took this business as a full-time job Chelsea was still working as a dentist in 2018 then decided to go on Shark Tank.
Start of the BoomBoom:
A finance article on yahoo! In 2016, reported that BoomBoom was already selling its products for several years on Amazon and was about to embark on an IndieGoGo campaign to have their products in multiple stores. The article further suggested that the inhaler was featured in a multi-sports event called Kern Fitness Expo, which helped bring their product popularity.
Did BoomBoom get a deal on Shark Tank?
John and Chelsea appeared on season 10 of shark tank seeking the investment of $300,000 for 10 percent of equity shares. John pitched the product calling in “new best friend for your nose”. Chelsea continued comparing it with mouth wash, lip balms, and eye drops.
Robert Harjavee really liked the product and they received the offer of $300,000 for 36% equity. John tried to counteroffer and offered 20% for $300,000. They left without a deal that day.
How does BoomBoom make money?
The 20% of the sale happen directly from their website, amazon contributes 30% of the sales, and 45% of the products are sold to wholesalers. The manufacturing cost of inhalers is around 70 cents per pack and retails at $ 19. 95 for a pack of 3 and a pack of 6 retails for $34.95, which also wholesales between $1.50 to $2 for each pack.
They let their customers customize their own variety pack with their customizable tool which helped increase sales by 46.70%. BoomBoom recently introduced the BoomBoom roll on which helps stimulate the same effect as inhalers and retails for $14,95 for a pack of one and $59.95 for a pack of 5 on their website.
What’s the Net worth of BoomBoom:
In 2018 when asked about the sales numbers john pinto said that BoomBoom had made $745,000 the previous year and were closing on $1.1 million in the current year. John continues by telling the net profit of 2017 was $125,000 after he paid himself. At the time of the Shark Tank pitch, they were valued around $ 3 million.
What Happened to BoomBoom After Shark Tank?
In 2020 they reported that BoomBoom inhalers were now available in 6000 stores across the U.S and in more than 800 Walmart stores. BoomBoom continues to be sold on amazon at 60% below the price from their website.
Competitors of BoomBoom:
There are currently two inhalers available in the market but according to the founders, those nasal inhalers don’t focus on the properties BoomBoom has. As they have more of a medicinal smell and focus more on medicinal problems like allergies while BoomBoom focuses more on rejuvenation and has more energizing effects. Chelsea and john claimed they didn’t see those inhalers as their competitors.
Is BoomBoom profitable?
BoomBoom inhalers still sell their product on various websites along with their own and have the availability of their products in multiple stores which is 6000 different store locations and nearly 800 Walmart stores across the U.S. Although the sales figures aren’t available for the company, they seem to have a huge impact on social media.
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FAQs:
What is BoomBoom?
BoomBoom is a nasal inhaler made with essential oils with the purpose of rejuvenating your mind and bringing instant freshness. These inhalers help increase focus, and refreshment works as an instant mood booster and helps enhance breathing.
Who founded BoomBoom?
John Pinto and Chelsea Pinto are two entrepreneurs based in Los Angeles, California appeared on season 10, episode 4 of The Shark Tank introducing their product BoomBoom as “new best friend for your nose”.
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