Boogie Box Fitness Shark Tank Net Worth 2023
Boogie Box Fitness appeared on Shark Tank and was valued at $1 million. However, the company is no longer in operation, so its current net worth is unknown.
According to one source, the company had a net worth of $10 million before it went out of business.
What is Boogie Box Fitness? Who is the founder of Boogie Box Fitness?
Boogie Box Fitness is a collection of DVDs that feature energizing dance and martial arts workouts paired with lively music. It’s an ideal way to get fit at home and improve your lifestyle without having to resort to a restrictive diet.
The founders of Boogie Box Fitness are Dede Barbanti-Parra and her business partner Kathy Lamm from California. The two women met through a mutual friend.
Dede, a professional choreographer and fitness enthusiast, was going through a divorce and raising her children on her own. She was also overweight and looking for a way to improve her health.
Kathy was impressed by Dede’s idea for a DVD workout program and decided to join the company as Chief Operating Officer (COO).
Together, Dede and Kathy set out to create a company that would inspire others to take control of their health and fitness. They chose DVDs as their distribution medium because they believed it was the most cost-effective way to reach a large audience.
To get the company off the ground, Dede and Kathy held workshops and trained trainers to raise funds. They also assembled a team of producers who had experience in the fitness industry.
Although they didn’t secure a deal on Shark Tank, Boogie Box Fitness received attention from television shows such as Dr. Oz and Fit Celeb, which helped attract investors.
Dede’s expertise in dance, choreography, and martial arts helped her create a workout program that incorporates natural movements and stretching. The result is an engaging and fun way to get fit without feeling like you’re working out.
Boogie Box Fitness Shark Tank Pitch
Dede and Kathy opted to present their proposal to investors on Shark Tank with the hope of securing funding. They sought a $700,000 investment for 70% of their firm at a $1 million value.
Before making their offer, the partners showcased their energetic exercise routine to a crowd of satisfied clients. The Sharks were impressed, nodding and smiling along with the presentation.
However, Kevin O’Leary expressed doubts about the workout’s effectiveness, and the entrepreneurs invited him to test it out. Daymond John claimed to have the “bodies of gods; Buddha, to be precise.”
The friendly banter quickly turned serious when O’Leary raised doubts about the strategy. The women were seeking funds to develop a line of home DVDs, having built a company around training and certifying instructors and growing a fan base. The training segment of the company generated a profit of $15,000.
The entrepreneurs clarified that the investment was for the soon-to-be-launched DVD division of the business. The Sharks questioned the size of the investment in relation to the risk.
Daymond John and Robert Herjavec declined to make an offer based on the investment’s size in comparison to the risk. Kevin O’Leary expressed his belief in “money murder,” stating that if he invested $700,000 and they lost it, he would enter “money hell.” He left the pitch.
Kevin Harrington deemed the investment excessive and also declined to invest. Barbara Corcoran admired the women and their brand, but felt that they were seeking an excessive investment and offering an excessive stake in the business.
The final Shark also declined to make an offer, and Dede and Kathy left without securing a deal.
Despite not receiving funding from the Sharks, the women did not give up. They went on to produce their first DVD and carved out a niche in the market. The Shark Tank exposure helped generate awareness for Boogie Box Fitness, and the business was featured on national TV shows such as Dr. Oz and FitCeleb.
Today, the business thrives due to the women’s dedication to health and fitness. However, as of July 2021, the company website is down, and social media accounts have been inactive since January 2020, indicating that the company may have ceased operations.
Competitors of Boogie Box Fitness
There is numerous fitness programs designed to motivate and educate the general public.
The following is a list of the primary competitors of Boogie Box Fitness: Zumba Fitness Equipment, The Biggest Loser Club, and Fit Affinity.
Net Worth of Boogie Box Fitness
During the pitch the company was valued at $1 million. In 2021 the company is not in operation therefore the net worth of the company is unavailable.
Boogie Box Fitness FAQs
What is Boogie Box Fitness?
Boogie Box Fitness is a chain of dance-based fitness classes based in Costa Mesa, California. The two proprietors, Dede and Kathy Lamm, developed DVDs for the series that incorporates dance and martial arts into complex routines.
The costumed instructors add to the participants’ motivation as they perform choreography with the models. They also instruct students about posture, strength development, flexibility and cardiovascular health.
Who is the founder?
Dede and Kathy Lamm are the founders of Boogie Box Fitness. Dede has 25 years’ experience as a dancer and choreographer. She learned martial arts at a young age and is a certified fitness instructor.
Kathy is also a certified personal trainer who has decades’ worth of experience in martial arts. The two women met while they were single mothers, which brought the two together to become friends and business partners.
How much were they asking on Shark Tank?
They were seeking for $700,000 for 70% stake of their business.
Did they get the deal?
No, the women did not secure the deal.
Is Boogie Box Fitness still in business?
No, the business is in inactive mode. As of July 2021, they have dropped off social media and the company website is down.
What inspired Dede Lamm to create Boogie Box Fitness?
Boogie Box Fitness started out as a dance studio teaching children’s classes. Dede wanted to give her students a fun routine that could help slim down and strengthen their bodies.
How many people work for Boogie Box Fitness?
There are no current numbers available as of July 2021.
How Boogie Box Fitness does make money?
Dede says she was inspired to create the workout for two reasons. The first was for fun, and the second was because of her passion for dance.
The two women also want their own DVDs in order to capitalize on their product. They realized that there is a profit in home training, which can be uploaded as a DVD and sold to clients at home.
What is the net worth of Dede Barbanti?
Dede Barbanti-Parra net worth is $1.9 Million
What is the net worth of Kathy Lamm?
Kathy’s net worth is unknown.
