Jack “Cactus” Barringer first developed the idea of Body Jac, a push-up system for people who loved push-ups but had difficulties adjusting to the exercise. Cactus approached Shark Tank with his daughter, Kelly, asking for $180,000 for a 20% stake in the company.
By the end of his pitching, Cactus was able to secure a deal. Here is a look at how this went from great to sad for Body Jac.
- Entrepreneur: Cactus Jack
- Business: Push-up fitness product
- Ask: $180,000 for 20% equity
- Result: $180,000 for 50% equity
- Sharks: Barbara Corcoran and Kevin Harrington
Body Jac Pitch On Shark Tank
Cactus went to Shark Tank with his daughter Kelly, in the inaugural season of the show. He stepped in seeking $180,000 for a 20% stake in his company. He revealed that the idea for his product, push-up, equipment came due to his need for physical exercise and the advice of his doctor to try and get fit.
Due to a previous money management problem, Jack was only able to invest $27,000 of his own money in the business. This forced Kevin O’Leary to step away from the deal. Robert Herjavec was the next person to step away from the business.
Cactus Jack Got A Deal in The Show
Two sharks were already gone, but that was not the end of the road of Body Jac. Kevin Harrington became the first person to give a glimmer of light to Body Jac. He had a passion in the fitness industry and he had recorded some success with products in the line.
Kevin wanted 50% equity in the business but that was only if another shark was willing to be a part of the business. The lifeline came when Barbara Corcoran indicated her willingness to also put $90,000 into the business. Her singular condition was that Cactus had to get himself in good shape.
Cactus was excited about the challenge of losing weight and he accepted the deal.
What Happened To The Business After Shark Tank?
After his appearance on the show, Cactus Jack went down to business to get back to shape, and that worked as seen in an update made on Shark Tank.
After meeting his part of the bargain, the deal was finally signed and they got into a serious marketing campaign which shot up sales and made Body Jac successful in the initial stages.
The success of Body Jac exceeded all expectations and the infomercials continued. At the height of the success of the push-up equipment, Cactus Jack was invited to ring the opening bell at NASDAQ on April 4, 2011, together with the Sharks.
The Sad End of Body Jac
Everything seemed to be going well for Cactus Jac and the two Sharks that invested in his business. But then, something suddenly happened; Body Jac’s website went down in 2012, less than a year into all the previous hype.
It was never made known what happened to the business that was, only less than a year, prior, thriving.
All that became known was that Barbara Corcoran would go on an interview with Forbes to reveal that her worst investment had to be her investment in “a fast-talking cow-boy selling exercise equipment who needed to lose 50 pounds, instead, he lost my 50 grand.”
Body Jac became a sad failure but at least, it opened the doors for Cactus to get into the infomercial business. He also started sharing his knowledge with young entrepreneurs.
YOU CAN ALSO READ ABOUT My Therapy Journal: What Happened After Shark Tank?
