Have you ever wondered what the net worth of Boost Oxygen is?
At first glance, a can full of oxygen seems like a scam, but Boost Oxygen made it legit. In fact, it’s so legit that the company has experienced 50% business growth each year since 2019!
In today’s article, we’ll walk you through the journey of this supplemental oxygen company and its founders to achieving sweeping success.
As of January 2023, Boost Oxygen has a net worth of $15 million.
Company Early Life and Founders
Rob Neuner and Mike Grice are the founders of Boost Oxygen. They’re both from Milford, Connecticut.
Neuner went to Fordham University, where he studied at the Graduate School of Business Administration. Grice majored in Business Administration and Management at Denver’s University of Colorado.
Additionally, Mike got a master’s degree in Military science from the American Public University System and also got an MBA from the Marshall School of Business at the University of Southern California.
Rob often traveled to Europe for business and spent many years across the continent working as a beer importer.
His frequent travels to Europe caused him jet lag for which he used supplemental oxygen. He also used canned oxygen to give his body energy boosts when participating in triathlons.
Rob Neuner realized that the American market for canned oxygen is practically nonexistent, so he saw this as a potential opportunity for major profit.
Soon enough, Rob left the beer-importing business and traveled back to America where he teamed up with Mike Price. Together, they founded Boost Oxygen in 2007.
Although it wasn’t FDA-approved, which is the case for all supplemental oxygen products, Boost Oxygen had no side effects and offered real benefits.
Before looking for angel investors, Boost Oxygen sold $6.4 million worth of cans. This equated to a profit of $1.5 million in sales.
Appearing on Shark Tank
In 2019, Rob Neuner and Mike Grice appeared in season 11, episode 2 of Shark Tank, the American business reality TV show.
The Boost Oxygen partners pitched their business model, and while their sales numbers impressed the panel, they were worried about potential safety risks.
Although none of the investors were willing to take a chance on the unique product, Mr. Wonderful himself, Kevin O’Leary, made Rob and Mike an offer.
The Boost Oxygen partners came in hoping for a $1 million investment in exchange for 5% equity. Kevin O’Leary offered them $1 million along with 7.5% in equity and an interest rate of 9% over 3 years.
Rob and Mike countered this offer with $1 million, 5% equity, and a 6% interest rate. Finally, they accepted Mr. Wonderful’s final offer of $1 million, 6.25% equity, and a 7% interest rate.
Following Shark Tank
After its Shark Tank appearance, Boost Oxygen’s growth and sales went through the roof. It’s the brand that comes to mind when people think of America’s accessible canned oxygen.
The recreational oxygen cans are available for sale through national retail distribution and thousands of independent stores. Boost Oxygen cans come in three different therapeutic flavors: menthol, peppermint, and grapefruit.
The bottled oxygen experienced is particularly in-demand in high-altitude locations where an energy boost is much needed.
In addition to recreational purposes and senior citizens, the brand is also widely popular among sports organizations as it improves athletic performance.
Since its Shark Tank appearance, Boost Oxygen’s sales passed the $15 million mark. The brand is considered the leading supplier of non-medical grade oxygen in the United States.
Boost Oxygen continues to seek its grand goal of sharing its product on a global scale and helping whoever needs the extra boost. While they do have competition such as Live Well and Well Air, Boost Oxygen is still far ahead.
Boost Oxygen Net Worth 2023
As of January 2023, Boost Oxygen has a net worth of $15 million.
The estimated Boost Oxygen net worth is based on their annual sales, which is in the millions. The brand has expanded its reach from 4,000 stores to more than 8,000 stores -including Walmart and Kroger- and counting.
Frequently Asked Questions (FAQs)
What Does Boost Oxygen Do for You?
Boost Oxygen provides consumers with the canned oxygen experience. It offers your body a dose of 95% pure oxygen without prescription whenever and wherever you want.
For athletes, Oxygen Boost is a source of pure oxygen for fatigued muscles. It helps increase your VO2 max to speed up recovery and enhance performance.
How Long Does Boost Oxygen Last?
The answer depends on the size of the canister you’re using and the frequency/length of your inhalations.
Small Boost Oxygen cans contain 3 liters of 95% pure oxygen, which offers up to 60 seconds of continuous oxygen flow or 60 1-second inhalations.
Medium cans contain 5 liters of pure oxygen, which gives you up to 100 seconds of continuous flow. As for large Boost Oxygen cans, each contains 10 liters of oxygen to provide you with more than 200 seconds of continuous flow.
Does Boost Oxygen Help with Shortness of Breath?
While it won’t take away your shortness of breath, Boost Oxygen can help you feel less breathless during activities.
How Often Should You Use Boost Oxygen?
The answer depends on your body type, weight, and circumstances of workout or stress.
If you’re looking to recover more quickly while exercising, 2 to 3 inhalations between sets may do the trick. 2 to 3 inhalations can also be enough for stress, ‘second wind’, and high altitude applications.
The effects of the admitted oxygen are fairly immediate, so you should be able to judge if you need more after the 2 to 3 inhalations.
Keep an Eye Out for Opportunities
The first lesson you can learn from Boost Oxygen’s Rob Neuner is to always stay sharp for potential opportunities.
The idea of bottled oxygen was already a thing in Europe where Neuner spent his time, but not so much in the United States. Rob noticed this and took action.
Your big break could also be lingering close by and you need to pick up on it before others do.
Always Strive for More
After Rob and Mike launched Boost Oxygen, their sales numbers were quick to increase. While this was very impressive, they didn’t stop there. They aimed for more success.
This can be a lesson for your career too. Things may be going well and you may be tempted to sit tight on your progress.
However, you may also be missing the chance to make something good into something incredible — all because you didn’t look beyond the surface.
Don’t Be Afraid of Putting Yourself Out There
Finally, Boost Oxygen’s story shows us that it’s okay to venture outside our comfort zone and go looking for help.
Rob and Mark didn’t shy out from appearing on Shark Tank. They didn’t let the possibility of getting rejected scare them into never finding out what could happen if they lay their dreams on the line.
They put themselves out there and left with an angel investor who helped them kick their company to the top of the industry.
Apply that to your career and don’t be afraid of doing the same.