Boost Oxygen was founded by Mike Prince and Rob Neuner. Both of them live in Milford, Connecticut. Neuner attended Fordham University and went to the Graduate School of Business Administration later. Grice studied Business Administration and Management at the University of Colorado located in Denver.
Mike holds a master’s degree from American Public University majoring in System in military science and also an MBA degree from the University of Southern California’s Marshall School of Business. Rob frequently travelled to Europe for business purposes and spent several years continuing to work as a beer importer all across the continent. His regular trips to Europe ended up causing jet lag, which he treated with supplemental oxygen. When competing in triathlons, he even used bottled oxygen to offer his body a boost of energy.
Recommended: Rick Ness Net Worth
The Idea Of Boost Oxygen
Rob Neuner recognised that the canned oxygen market in his country was nearly nonexistent, which is why he considered this a potentially lucrative opportunity.
Soon after, Rob resigned from the beer-importing company and returned to America, where he joined forces with Mike Price. In the year 2007, they co-founded Boost Oxygen together. Boost Oxygen had almost no side effects but rather provided significant benefits despite not being FDA (Food and Drug Administration) approved, as is the case with all supplemental oxygen products.
Recommended: Gary Vee Net Worth
Shark Tank
In the year 2019, Rob and Mike appeared on Shark Tank, which is an American business television reality show. They appeared in season 11 of episode 2. The partners of Boost Oxygen presented their marketing strategy along with the business model to the board, so while their revenue figures astonished the board, they were concerned about possible, potential dangers. Kevin O’Leary decided to make Rob and Mike a great offer despite the fact that none of the other investors seem to be prepared to take a risk on the unique item.
Rob and Mike were confronted with a million-dollar offer, equity of 5%, along with an interest rate of 6%. They finally agreed to a final offer of $1 million, equity of 6.25%, as well as a 7% interest rate.
Recommended: Braydon Price Net Worth
The Net Worth Of Boost Oxygen
As of 2023 January, Boost Oxygen does have a net worth of approximately 15 million dollars. The projected net worth of Boost Oxygen is predicated based on its yearly revenue, which is in the large numbers – millions. The brand has grown from 4,000 to over 8,000 stores, which include stores like Kroger and Walmart, and it still continues to expand.
Rob Neuner had a strong grasp on the potential opportunity that opened up before him. He saw a chance and took it, he worked tirelessly towards it and made it a great success. Rob and Mike’s revenues quickly increased after they introduced Boost Oxygen. This was remarkable, but they didn’t seem to stop there. They desired greater success. They took a shot in the shark tank and are now living the life of their dreams. Their market continues to expand to this date.
Recommended: Angus T. Jones Net Worth
FAQs
1. Was Boost Oxygen successful?
Since the episode featuring Boost Oxygen aired on Shark Tank, the brand has managed to acquire 50% growth in its business each year since the release of the episode. For those who aren’t aware, the company sells supplemental oxygen in a recyclable aluminum bottle that’s designed for athletes or people traveling to higher altitudes.
2. How has Boost Oxygen been done after Shark Tank?
The Boost Oxygen product aired in Season 12 Episode 23 of Shark Tank and has managed to do exceptionally after their episode aired. Following exiting Shark Tank, the brand reported that they did over $15 million since airing the television show. Also, they expanded from 4000 retail locations to 8000.
3. Is Boost Oxygen real or fake?
Boost Oxygen is not medical-grade oxygen and that’s something that the brand markets on its website too. They sell supplemental oxygen, whose concentration is around 95% and is only intended for emergency use. It is not meant to cure any kind of illness.
4. Is Boost Oxygen safe for kids?
Boost Oxygen is regulated by the Consumer Product Safety Commission, which means that it is 100% safe for kids and adults alike. It can be used by anyone for supplemental oxygen at any point in time.
Recommended: Big Meech Net Worth