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In Shark Tank season 7, Linda Clark and Gloria Hoffman sought $125,000 for 15% of Simply Fit Board. Kevin O'Leary offered $250,000 for 30% equity, while Lori Greiner proposed $125,000 for 20%. When Gloria asked about a potential partnership between the Sharks, Lori firmly declined.
"No, I will go solo here because this is my world, this is my sweet spot, this is what I'm excellent at. I make millionaires this way, it's what I do and I take it seriously. But I don't need a partner," she stated.
The Shark Tank investor’s solo investment led to rapid success. The product sold out three semi-trailers of inventory on QVC within 24 hours of airing, reached every Walmart store in America, and achieved $160 million in sales.
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Lori declined partnership with Kevin in Shark Tank season 7's Simply Fit pitch
The Simply Fit Board’s Shark Tank presentation showcased solid business metrics and market potential. Manufacturing costs remained low at $9.87 per unit, while the retail price point stood at $45. Pre-show sales reached $575,000, generating $260,000 in profits through direct-to-consumer channels and small retail locations.
The company operated its manufacturing facility in Lamar, Colorado, maintaining quality control and American-made status. Linda and Gloria presented their product's distinctive features, emphasizing the specialized curved design and companion platform for hardwood floor protection. The entrepreneurs secured patent protection for the board-platform combination, addressing potential market competition concerns.
Their presentation included detailed exercise demonstrations and target market analysis, focusing on users over 40 who seek low-impact workout solutions. Kevin O'Leary presented $250,000 for 30% equity, valuing the company at $833,333. His offer included distribution plans through existing retail partnerships.
Barbara Corcoran withdrew from consideration, referencing previous experiences with exercise products in television marketing. Robert Herjavec followed suit after questioning long-term market protection strategies.
Lori Greiner's involvement shifted negotiations significantly. Her initial offer matched the requested $125,000 investment while seeking 20% equity. The proposal valued Simply Fit Board at $625,000, reflecting confidence in QVC sales potential. Gloria Hoffman attempted to reduce the equity to 18%, maintaining more ownership for future growth.
The Shark Tank company founders’ deliberation centered on strategic value beyond capital investment. The rapid QVC placement opportunity through Greiner's connections offered immediate market expansion. Gloria asked about combining Kevin O'Leary's and Lori Greiner's offers. Greiner immediately made her position clear, expressing her preference for solo investment based on her QVC expertise.
Linda and Gloria accepted Greiner's terms, securing the $125,000 investment for 20% equity. The final agreement maintained the original investment amount while increasing equity by 5% from their initial proposal.
Post-show results
As per Shark Tank Blog, the partnership showed results within 24 hours of the episode's airing. Simply Fit Board's QVC debut cleared three semi-trailers of inventory during the first presentation. The company's website underwent immediate updates to handle increased traffic and order volume. Sales reached $1 million shortly after the television appearance.
The growth continued steadily through the first year, and revenue climbed to $9 million within months of the deal. The product expanded into major retail chains, securing placement in Walmart stores nationwide. Moreover, direct-response television commercials featuring Lori Greiner began regular rotation on cable networks.
The company's expansion included production scaling and distribution partnerships. They signed with All Star Innovations, adding marketing support for the "As Seen on TV" market segment. By 2021, total sales surpassed $160 million, and the company ranked as the 14th largest Shark Tank success story, with lifetime sales reaching $174 million by October 2023.
The business structure evolved as sales grew. Gloria maintained active involvement in the renamed Simply Fiit Systems while Linda moved toward retirement. As of January 18, 2025, their website is not online, and they are inactive on Instagram as well. The last time they posted was back in April 2019.
Shark Tank season 16 is airing on ABC network.
