Shark Tank is all about giving a platform to businesses that bring unique products to the table. Among them, one brand that deserves a special mention is Fire Fighter Turn Out Bag, which utilizes retired firefighter uniforms and turns them into bags.
Not only is the idea genius, but it is also an environmentally friendly option and making the concept of customizable, and personalized bags a lot more accessible to people. The business uses old and retired firefighter turnouts and turns them into bags.
This article will further look into uncovering more about Fire Fighter Turnout Bags and their net worth at present.
Quick Facts
| Founders name: | Nicole Rasor Matt Rasor |
| Business details: | Firefighter uniforms turns into bags |
| Founded in: | 2009 |
| Location : | California, United States |
| Asking of Company: | $250,000 for 33% equity |
| Accepted Deals: | $250,000 for 50% equity |
| Sharks on board (Investors): | Lori Greiner |
| Shark Tank Episode: | Season 08 Episode 16 |
| Net Worth | $700,000 |
| Business Status: | Active |
| Last Updated: | Feb 14, 2024 |
| Social Media | Instagram |
About Founders
With the kind and level of success that Fire Fighter Turnout Bags has gained, people are often wondering who the founder of the company was.
The company was founded by Nicole Rasor who started the company without any initial thought of growth. However, it didn’t take her much to grow her brand, which further helped her shape her thought process as a flourishing entrepreneur.
Founding Fire Fighter Turnout Bags
The primary basis of the Fire Fighter Turnout Bags is to utilize retired firefighter uniforms and turn them into working bags with unique designs.
Besides reutilizing the products, one of the most important takeaways from this brand was to create products that have reduced carbon footprint. The objective of the brand was also to showcase support to firefighters across the country.
There’s not a lot of information available regarding the process of founding the company and how Nicole Rasor went about creating the company. However, the ideology behind the company was not only noble and thoughtful but extremely impressive too.
Shark Tank Appearance
Nicole Rasor alongside her partner went on Shark Tank where they pitched $250,000 for 33.33% of the business. The final offer that they managed to sneak was that of Lori Greiner where she offered a counter pitch of $250,000 but for 50% of the company.
All of the sharks were pretty amazed by the idea behind the brand and wanted to explore the best with the brand. While all the sharks showed interest in the company initially, all of them stepped out until Lori decided to pitch her offer in front of the founders.
During the time the company entered Shark Tank, they were selling each bag between the $30-$150 mark for each bag, depending on the design and the style.
After Shark Tank
The founders of the company accepted the deal from Lori and utilized the money to further venture and expand their business. Despite the kind of initial boost, the company received, they soon fell out on the production part and faced a lot of challenges in the same area.
Finally, in 2021, the company went out of business and had to be shut down. When they appeared on Shark Tank, the company was valued at around $700,000. Although it is believed that the deal with Lori closed there is a lot of confusion with the same.