Boost Oxygen Net Worth
Do you ever find yourself curious about the net worth of Boost Oxygen?
Initially, a can brimming with oxygen may appear dubious, yet Boost Oxygen has successfully established its credibility. In fact, the company’s growth has been remarkable, with a 50% increase in business annually since 2019!
In this article, we will guide you through the inspiring journey of how this supplemental oxygen company and its founders accomplished remarkable success.
As of May 2023, Boost Oxygen’s total value amounts to $15 million.
Company Early Life and Founders
The founders of Boost Oxygen are Rob Neuner and Mike Grice, hailing from Milford, Connecticut.
Neuner attended the Graduate School of Business Administration at Fordham University, while Grice pursued a major in Business Administration and Management at the University of Colorado in Denver.
In addition, Mike obtained a master’s degree in Military Science from the American Public University System, and he further earned an MBA from the Marshall School of Business at the University of Southern California.
Rob frequently journeyed to Europe on business and dedicated numerous years traversing the continent while engaged as a beer importer.
Frequently traveling to Europe resulted in him experiencing jet lag, which he managed by resorting to supplemental oxygen. In addition, he relied on canned oxygen to provide energy boosts during his participation in triathlons.
Recognizing the lack of demand for canned oxygen in the American market, Rob Neuner identified it as a promising chance to generate substantial profits.
After a short while, Rob decided to depart from the beer-importing industry and returned to America. He joined forces with Mike Price and together, in 2007, they established Boost Oxygen.
Despite not having FDA approval, which is the case for all supplemental oxygen products, Boost Oxygen proved to have no side effects and provided genuine benefits.
Boost Oxygen generated $6.4 million in sales prior to seeking angel investors, resulting in a profitable outcome of $1.5 million.
Appearing on Shark Tank
The American business reality TV show, Shark Tank, featured Rob Neuner and Mike Grice in season 11, episode 2 of 2019.
The business model of Boost Oxygen was presented by their partners, impressing the panel with their sales numbers. However, concerns about potential safety risks arose.
Despite the lack of interest from other investors, Kevin O’Leary, also known as Mr. Wonderful, extended an offer to Rob and Mike for their unique product.
The Boost Oxygen partners arrived with the expectation of securing a $1 million investment in return for a 5% stake. However, Kevin O’Leary proposed a deal of $1 million investment, 7.5% equity, and an interest rate of 9% over a span of 3 years.
Rob and Mike initially proposed a deal consisting of $1 million, 5% equity, and a 6% interest rate. However, they eventually agreed to Mr. Wonderful’s revised offer of $1 million, 6.25% equity, and a 7% interest rate.
Following Shark Tank
Boost Oxygen experienced exponential growth and skyrocketing sales following its feature on Shark Tank. It has become synonymous with America’s readily available canned oxygen in people’s minds.
Boost Oxygen cans are conveniently sold nationwide in national retail outlets and numerous independent stores. These recreational oxygen cans are offered in three therapeutic flavors: menthol, peppermint, and grapefruit.
The demand for bottled oxygen is especially high in high-altitude areas where an energy boost is greatly desired.
Besides being popular among recreational users and senior citizens, the brand has gained significant popularity among sports organizations due to its ability to enhance athletic performance.
Boost Oxygen has surpassed $15 million in sales since its appearance on Shark Tank. It is recognized as the top provider of non-medical grade oxygen in the United States.
Boost Oxygen remains committed to its ambitious objective of introducing its product to a worldwide audience and providing a much-needed boost to those in need. Despite facing competition from Live Well and Well Air, Boost Oxygen maintains a significant lead in the market.
Boost Oxygen Net Worth 2023
As of May 2023, the net worth of Boost Oxygen stands at $15 million.
Based on their annual sales, which amount to millions, the estimated net worth of Boost Oxygen is determined. The brand’s reach has significantly grown, expanding from 4,000 stores to over 8,000 stores, including major retailers like Walmart and Kroger, and continues to increase.
Frequently Asked Questions (FAQs)
What Does Boost Oxygen Do for You?
Boost Oxygen offers consumers the opportunity to experience canned oxygen, providing their bodies with a convenient and accessible dose of 95% pure oxygen without the need for a prescription. Enjoy the benefits of oxygen whenever and wherever you desire.
Athletes can rely on Oxygen Boost as a pure oxygen source to rejuvenate tired muscles, elevate their VO2 max, expedite recovery, and optimize overall performance.
How Long Does Boost Oxygen Last?
The response varies based on the canister size you utilize and the frequency/length of your inhalations.
The Small Boost Oxygen cans hold 3 liters of 95% pure oxygen, providing either 60 seconds of uninterrupted oxygen flow or 60 inhalations lasting 1 second each.
Medium cans hold 5 liters of pure oxygen, offering a continuous flow for approximately 100 seconds. On the other hand, large Boost Oxygen cans hold 10 liters, providing over 200 seconds of uninterrupted oxygen supply.
Does Boost Oxygen Help with Shortness of Breath?
Boost Oxygen won’t eliminate your shortness of breath, but it can alleviate breathlessness while engaging in activities.
How Often Should You Use Boost Oxygen?
The response varies based on factors such as your physique, weight, and the specific conditions of your exercise or stress.
If you want to speed up your recovery during exercise, taking 2 to 3 inhalations between sets might help. The same number of inhalations can also be effective for reducing stress, getting a ‘second wind’, or dealing with high altitudes.
You will notice the effects of the oxygen intake almost immediately, allowing you to assess whether you require additional inhalations after 2 to 3 breaths.
Key Takeaways
Keep an Eye Out for Opportunities
One valuable takeaway from Rob Neuner, Boost Oxygen’s founder, is the importance of remaining vigilant for potential opportunities.
Bottled oxygen was already popular in Europe, where Neuner resided, but its presence in the United States was relatively limited. Rob, being aware of this disparity, decided to take initiative.
You might have a great opportunity right around the corner, so be quick to seize it before anyone else does.
Always Strive for More
Rob and Mike witnessed a rapid increase in sales numbers after the launch of Boost Oxygen. Although impressive, they refused to be complacent and continued striving for greater success.
This can also serve as a valuable lesson for your career. Even if things are going smoothly, it can be tempting to remain complacent with your current level of progress.
Yet, by not delving deeper, you might be forfeiting the opportunity to transform something commendable into something truly extraordinary.
Don’t Be Afraid of Putting Yourself Out There
In conclusion, the narrative of Boost Oxygen demonstrates the importance of embracing the unfamiliar and seeking assistance when needed.
Rob and Mark were not afraid to appear on Shark Tank. They refused to let the fear of rejection prevent them from discovering what could happen if they took a chance and pursued their dreams.
After taking a leap of faith, they found an angel investor who propelled their company to the pinnacle of the industry.
Take this advice and apply it to your professional life without hesitation.
