Traveling might make it difficult to stay in shape. When they are traveling, many people find it difficult to maintain their exercise routine. These difficulties, which can include a packed schedule, a lack of space, or a lack of access to a gym, can cause lost opportunities to exercise.
Having experienced this, Nezar Akeel developed the solution. He created the MaxPro, a resistance band machine that is portable and lets users work out wherever they are. The idea was to make fitness available to everyone, wherever they may be.
Nezar presented his novel product to the Sharks in the holiday episode of Shark Tank Season 13, requesting a sizable investment to support the expansion of his company. He provided a special substance that might alter how individuals work out on the go. He requested $500,000 for 2.5% equity. Did the entrepreneur get a deal on Shark Tank? Check out our MaxPro update to find out!
MaxPro Net Worth 2024
Nezar Akeel asked for a $500k investment in exchange for 2.5% equity in his company. This meant he valued his company at $20 million. He made a deal with Mark Cuban for $500k in exchange for 3% of his company, plus 5% advisory shares that vest over time. This new deal valued his company at $16.67 million. After the show aired, MaxPro Fitness saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of MaxPro Fitness in 2024 is about $22 million.
MaxPro Shark Tank Update
As for the MaxPro update, Nezar Akeel’s MaxPro Fitness has grown remarkably since it debuted on Shark Tank. The company is still operating, having made over $25 million in sales in its first three years of operation. With over 25,000 users, the MaxPro has grown in popularity to where Sports Illustrated named it one of the Best Portable Gyms of 2023.
Shaquille O’Neal, a well-known athlete, provided a powerful endorsement that handles its accomplishment. With an increasing number of followers on social media sites like Instagram, the MaxPro is aggressively pushed there. MaxPro exercise is still thriving, showing that many people are responding favorably to Nezar’s idea of accessible exercise.
Nezar Akeel did really land a deal on Shark Tank. In the end, he accepted Mark Cuban’s offer of $500,000 in exchange for 3% stock and 5% in advisory shares over a five-year period, instead of his initial request for $500,000 for 2.5% equity. Nezar benefited from this transaction since it gave him access to capital and sage advice from an experienced investor like Mark.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Mark Cuban | $500k for a 4% stake + a royalty of $25 per unit sold until the investment is recouped | N/A | Yes |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | $500k for a 4% stake + a royalty of $25 per unit sold until investment is recouped | N/A | No |
| Robert Herjavec | Out | N/A | N/A |
MaxPro Shark Tank Pitch
After finding it difficult to stick to his fitness routine while traveling, Nezar Akeel was motivated to develop the MaxPro Fitness system. His goal was to create a tool that would enable everyone, wherever they were, to easily maintain their fitness level.
Nezar had to deal with difficulties early on, like expensive marketing expenses and the weight of a lot of goods that needed to be sold. Despite these obstacles, he persisted because of his love of fitness and desire to encourage others to be active.
Nezar showed the MaxPro during his Shark Tank pitch, emphasizing its adaptability and capacity to change resistance up to 300 pounds. He clarified it sold for around $8 million that year at retail and has a suggested retail price of $849.
But he also disclosed that the business was spending roughly $100,000 a month on marketing, which alarmed the Sharks. The Sharks had differing opinions when Nezar said he wanted to create a fitness app to go along with the product. Keep reading our MaxPro update to see what happens next!
During Nezar’s pitch, the Sharks questioned him on several issues.
Kevin asked about the sales and annual progress. Nezar replied he had just started selling products last year. He did $4 million in sales last year. His lifetime sales are $8 million.
On Lori’s question, Nezar explained different ways of using the product, which shows the product’s efficiency and ease of use.
Daymond John asked about the cost and sales of the product. Nazer disclosed that the retail price is $849, and it costs $205 to make.
Mark Cuban asked about his monthly expenses. Nazer replied he spent $100,000 every month.
Kevin O’Leary questioned what the purpose of an app was. Nezar clarified that although Kevin didn’t think it was necessary, he wanted to give consumers more resources and direction.
While discussions with Mark and Robert Nazer revealed he is not making that much profit. He will reach $12 million in sales this year and may only breakeven.
Nazer also revealed that he has $5 million in inventory.
Lori Greiner Further asked about his return rate. Nazer answered that it’s less than 5%.
The Sharks’ views on the MaxPro were divided.
Seeing an opportunity, Mark Cuban made a $500,000 offer for 3% equity and 5% advisory shares.
Daymond John extended an offer of $500k for a 4% stake and a royalty of $25 per unit sold until the investment was recouped but subsequently withdrew it when Nezar refused to accept him.
Robert Herjavec, Lori Greiner, and Kevin O’Leary all decided against investing, expressing worries about Nezar’s strategy and the company’s finances.
In the end, Nezar agreed to Mark’s proposal, getting money and knowledge.
Product Availability
From our MaxPro update research, The MaxPro is available for immediate purchase on their own website MaxPro, and other online merchants. It retails for $849, and a lot of good reviews emphasize how practical and efficient it is. The MaxPro is a special exercise equipment that combines mobility with full-body training. It is ideal for use at home or on the go and has adjustable resistance bands for a variety of activities.
Conclusion
Nezar Akeel’s Shark Tank journey with MaxPro Fitness shows how perseverance and creativity can pay off. Nezar’s acceptance of Mark Cuban’s offer put him on the route to success and prominence in the fitness business, despite the Sharks’ misgivings.
MaxPro is still going strong today, with revenues of over $25 million and a growing clientele. We’re excited to see what the future holds for MaxPro Fitness and how it will continue to influence people’s fitness experiences as the company looks to extend its marketing efforts and form new alliances.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
