Body Jac by Cactus Jack Shark Tank Net Worth 2023
The company was initially valued at $900,000, but after the two Shark investments it decreased to $360,000. Sadly, the company is no longer in operations so its net worth is unknown – a consequence of their financial misfortune.
Although profit seemed achievable considering the estimated value pre-investment, the investment didn’t turn out as expected and cause their demise.
However its investors may still see some returns from this incident since that final evaluation will set their losses or gains.
What Is Body Jac By Cactus Jack? Who Is The founder Of Body Jac By Cactus Jack?
The Body Jac is a piece of fitness equipment that helps users perform push-ups with varying degrees of resistance bands that can be added or removed to suit their individual strength levels.
It can also be customized to target additional muscle groups, and comes equipped with a repeat counter and a display showing the number of calories burned during use. Additionally, it includes a workout chart and a CD.
The founder of Body Jac is Jack Barringer, who was given the nickname Cactus Jack by his father. Jack is a lifelong entrepreneur, salesman, and infomercial personality who previously created the highly popular One-Shot cleaning tablet that sold over 10 million units.
Jack started Body Jac, in part, because he was 30 pounds overweight at the time and his doctor recommended he lose weight by doing push-ups. He holds multiple patents for other products he has invented, and he remains the CEO of Cactus today. Jack founded Jack’s Marketing in 1975 and has a track record of success.
The Body Jac, Jack’s latest innovation, uses resistance bands to help users perform push-ups and create customized workouts that target specific muscle groups.
Jack, originally from Illinois, has the swagger and appearance of a Texas tycoon, complete with a fringed leather jacket, a large belt buckle hidden behind an equally impressive stomach, and snakeskin boots.
What Happened to Body Jac by Cactus Jack at Shark Tank pitch?
Cactus Jack confidently enters the Shark Tank seeking the assistance of investors to develop a new company strategy that will expose him to less danger than his previous ventures.
As an experienced entrepreneur with patents for multiple innovative inventions, Jack offers more than just his latest creation. He seeks $180,000 for a 20% stake in his firm, which is valued at $900,000.
During the pitch, Robert Herjavec questions why Jack needs $180,000 when he has made several million in the past. Jack explains that he has lost his fortune and is now seeking a partner to share both the risks and the rewards. However, Kevin O’Leary and Robert Herjavec both exit the deal as they believe Jack’s personal contribution is insufficient for the share he is seeking.
Kevin Harrington offers $90,000 for 50% ownership of the business, but Jack needs another investor to commit the remaining $90,000. Barbara Corcoran offers to provide the remaining funds on the condition that Jack loses 30 pounds using his own equipment.
Kevin Harrington continues to pressure Jack for a decision, but Daymond John intervenes with an offer to pay the entire $180,000 for the entire package.
After a brief pause, Jack agrees to the deal and high fives Barbara Corcoran in celebration of his victory. The Sharks ultimately agree to invest $180,000 for a 50% stake in the company.
Table Summarizing: Body Jac By Cactus Jack Shark Tank
| INFORMATION | DETAILS |
| Company Value before investment | $900,000 |
| Investment from Sharks | $180,000 for 50% equity |
| Company Value after investment | $360,000 |
| Founder | Jack Barringer (Cactus Jack) |
| Product Description | A piece of fitness equipment that helps users perform push-ups with varying degrees of resistance bands |
| Competitors | The Body Rocker and Perfect Pushup |
| Outcome of Shark Tank pitch | The Sharks invested $180,000 for a 50% stake in the company |
| Current status | The company is no longer in operations, and the product has not been made or marketed since 2015 |
| Net Worth (2023) | Unknown |
What Happened to Body Jac by Cactus Jack after Shark Tank?
The agreement between them was sealed after Jack and the two Sharks celebrated during the presentation. However, the firm stopped operating in approximately 2015, and the product is no longer being produced or distributed.
In August of 2020, the domain name for Body Jac was posted for sale on the company’s Facebook page. Reports suggest that Jack deceived his investors in the venture.
Despite this, Body Jac was just one more in a series of fitness fads featured in infomercials that people would use a couple of times, keep in their garages to gather dust, and then discard a decade later when they moved to a new home.
Competitors of Body Jac by Cactus Jack
There are numerous competitors of Body Jac by Cactus Jack. These are; The Body Rocker and Perfect Pushup.
Net Worth of Body Jac by Cactus Jack
During the pitch the company was valued at $900,000, after the two Sharks investment the company valued at $360,000. Since then the company is no longer in operations hence the company net worth is unknown.
Body Jac by Cactus Jack Shark Tank Updates
Cactus Jack Barringer appeared on Shark Tank in Season 1 Episode 5, seeking $180,000 for a 20% stake in his push-up helper, the Body Jac.
Kevin Harrington and Barbara Corcoran agreed to invest $180,000 for 50% equity in Body Jac. Cactus Jack lost 30 pounds to prove that the product was effective, and Kevin Harrington took him to a major infomercial trade show, launching Body Jac into success.
However, things did not go as planned between Cactus Jack and the Sharks. Barbara Corcoran publicly declared that this was one of the worst deals she has ever made, and it appeared that the product was defunct by 2012.
As of early 2015, Cactus Jack ran his own marketing company, and the BodyJac was still available for sale. However, as of July 2021, the company is out of business, and the product has not been made or marketed since 2015.
In summary, Cactus Jack Barringer appeared on Shark Tank seeking an investment in his push-up helper, the Body Jac.
Kevin Harrington and Barbara Corcoran agreed to invest $180,000 for 50% equity in Body Jac. The product was launched into success, but the deal did not go as planned, and the company is now out of business.
Body Jac by Cactus Jack FAQs
What Is Body Jac By Cactus Jack And How Does It Work?
Body Jac by Cactus Jack is a workout device that makes push-ups easier by using resistance bands. The device uses a series of bands to make it easier for the user to do push-ups and to customize the workout to target specific muscle groups.
The product was pitched by Cactus Jack Barringer in Season 1 Episode 5 of Shark Tank, where he asked for $180,000 in exchange for a 20% stake in his company.
In the end, Barbara Corcoran and Kevin Harrington teamed up to offer $180,000 for a 50% equity stake, contingent on Cactus Jack losing 30 pounds. Cactus Jack lost the 30 pounds, and then some, by his deadline, sealing his deal with Corcoran and Harrington.
In the update, Kevin Harrington took Cactus Jack to a major infomercial trade show, and produced infomercials that launched the BodyJac into success. However, as of July 2021, the company is out of business.
Who is the founder?
Jack Barringer, nicknamed Cactus Jack by his father, is the founder of the company of Body Jac. A lifetime entrepreneur, peddler, and infomercial star, he had previously produced the popular One-Shot cleaning tablet, which had sold over 10 million units.
What Was The Outcome Of The Body Jac By Cactus Jack Shark Tank Pitch?
In Season 1 Episode 5 of Shark Tank, Cactus Jack Barringer pitched his push-up helper, the Body Jac, asking for $180,000 in exchange for a 20% stake in his company.
Barbara Corcoran and Kevin Harrington teamed up to offer $180,000 for a 50% equity stake, contingent on Cactus Jack losing 30 pounds. Cactus Jack kept his promise and lost the weight, sealing the deal with Corcoran and Harrington.
In the update, Kevin Harrington took Cactus Jack to a major infomercial trade show and launched Body Jac into success.
However, according to Barbara Corcoran, the deal was one of the worst she had ever made, and she claimed that Cactus Jack took all her money.
As of early 2015, Cactus Jack runs his own marketing company, and the BodyJac is still available for sale. As of July 2021, the company is out of business.
What Was The Final Deal Made On Shark Tank For Body Jac?
Cactus Jack appeared on Shark Tank in Season 1 Episode 5, asking for $180,000 in exchange for a 20% stake in his push-up helper, the Body Jac.
Barbara Corcoran and Kevin Harrington teamed up to offer $180,000 for a 50% equity stake, contingent on Cactus Jack losing 30 pounds. Cactus Jack accepted their offer, and in the update, Kevin Harrington took Cactus Jack to a major infomercial trade show and launched Body Jac into success.
However, at some point, something went wrong with the deal, and Barbara Corcoran publicly called Body Jac one of the worst deals she’s ever done and claimed Cactus Jack took all her money. As of July 2021, the company is out of business.
What Happened To Body Jac By Cactus Jack After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Cactus Jack’s Body Jac was launched into success by Kevin Harrington, who took him to a major infomercial trade show and produced infomercials.
However, at some point, something went wrong with the deal, and Barbara Corcoran publicly called Body Jac one of the worst deals she’s ever done and claimed Cactus Jack took all her money.
As of 2012, the Body Jac website was down, and it appeared the product was defunct. As of July 2021, the company is out of business.
How much was asking on Shark Tank?
Jack was seeking for $180,000 for 20% stake of his company.
How much they invested in his business?
Kevin Harrington invested $90,000 for 25% share of the business; Barbara Corcoran invested $90,000 for 25% share of the business.
Is Body Jac by Cactus Jack still in business?
No, Body Jac by Cactus Jack is not in business since 2015.
How long did it last?
It is unclear when the company ceased operations. However, according to reports, the sale of the domain name suggests that the product may still be in development or sales.
What is One Shot?
The One Shot was a cleaning tablet produced by Jack Barringer. A typical episode on TV involves a man returning home after an arduous day of dealing with customers and taking their money and not giving them what they deserve.
How much is Body Jac by Cactus Jack worth?
At present, the company net worth is unknown.
What do investors think about Body Jac by Cactus Jack?
The Body Jac was a fitness gadget designed to assist users in performing push-ups with resistance bands for customized workouts targeting certain muscle groups.
However, it had been discontinued shortly after the Shark Tank pitch.
Are any future plans for Body Jac by Cactus Jack to resume?
There isn’t any confirmation whether the company will resume or not.
What is Body Jac by Cactus Jack’s revenue?
Revenue is not disclosed.
What is the weakness?
Jack Barringer had defrauded investors, his own employees and family members.
What is the strength?
The product was affordable.
What is Body Jac by Cactus Jack’s biggest challenge?
The success of infomercial products is highly dependent on sales performance. Once the initial buzz has wear off and sales start to fall, entrepreneurs have to resort to cost-cutting measures or else go bust.
What was the net worth Cactus Jack?
The net worth of Jack Barringer is unknown.
