PRX Performance is space-saving gym equipment that was pitched on ABC’s Shark Tank in 2016. Erik Hopperstad and Brian Brosh came up with the genius idea over a bonfire one night. Fast-forward to summer 2015, and they filmed their episode, but they couldn’t tell anyone until they got word it would air in February 2016. The duo stepped into the tank, and the rest is history. Get more details on their journey below.
1) Erik and Brian were actually introduced to each other by their wives, who were friends in high school. Brian’s an entrepreneur, and Erik was in property management. Both shared a love of CrossFit. What they didn’t like was how much space typical gym equipment took up. So, they came up with their space-saving solution!
2) When they appeared on Shark Tank, they asked for $80,000 for 10% of their company. That put their valuation at $800,000. The PRX founder and CEO walked away with one shark: Mr. Wonderful aka: Kevin O’Leary. Kevin gave them the $80,000 for 20%. Kevin also wanted 20% for profit.
3) Their deal worked, because the business’ success has skyrocketed ever since. When the episode aired, they had two additional full-time employees alongside Erik and Brian. When the Shark Tank crew came back for an update episode in 2017, they’d grown to six full-timers and a couple of temps.
4) The team continued to grow, so much so that they needed new office space by last summer. PRX Performance remains dedicated to their core values of customer service, doing the right thing, think big, built to last, and share the good. Their number on the “fastest growing companies” list from Inc 5000 has grown too: from #674 and #189 in 2018 and 2019, respectively, to #45 in 2020.
5) PRX’s Instagram has 154,000 followers. Their full collection of products is available for shopping on their official website. From their bestselling gym bars to newer additions like apparel, there’s something for everyone to enjoy.
Their equipment is for sale on Amazon.com! Check out what they have here.
Catch Shark Tank on Fridays at 8 PM on ABC for more success stories.
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