I've used diffusers for aromatherapy, but never knew there were nasal inhalers used to improve mental focus and provide other positive health benefits. Maybe that's because I haven't been to Thailand where Chelsea and John Pinto saw that nasal inhalers were popular. The couple went on to create BoomBoom Nasal Inhalers, presented to the Shark Tank on October 28th, 2018.
The husband and wife team were seeking an investment of $300K in exchange for 10% of their company. They walked away without a deal, although the sharks were impressed by the product. Robert Herjavec offered the requested $300K investment for 36% of the company. Robert would not accept John Pinto's final counter-offer of $300K for 20%.
The consensus in the tank was that the valuation was too high. The company had sold $754K of the product in 2017, but the profit margin was variable between direct and retail distribution.
After returning to the U.S. from a trip to Thailand and bringing along some nasal inhalers, Chelsea and John Pinto went on a mission to create something similar that would be made with healthy, plant-based ingredients.
The Pintos began selling BoomBoom online before initiating an Indiegogo campaign to secure the funding necessary to get the product into brick and mortar retail.
The BoomBoom inhaler is about the size of a tube of lip balm. It is made with four ingredients commonly used in food and health care products: menthol, peppermint oil, eucalyptus, and natural flavoring. The product is most effective if used within 30 days of being opened, although it can last for three months.
I'm eager to try this product. It's one of the few Shark Tank products that is inexpensive and easy to find on Amazon. The Berry Breeze sounds promising!
Shark Tank, Season 10, Episode 4