One reason why people find it hard to use workout equipment at home is the lack of space. MAXPRO Fitness removes this obstacle with its minimalist resistance cables that generate up to 300 pounds of resistance. Founder Nezar Akeel got the chance to pitch on Shark Tank and got a deal with Mark Cuban. MAXPRO Fitness is now worth an estimated $16 million.
Nezar Akeel’s Background
Nezar Akeel hails from Detroit, Michigan and is a mechanical engineer. He got his bachelor’s degree from Wayne State University and a master’s degree from Rensselaer Polytechnic Institute.
Akeel started his career in Alexandria, Egypt, as the CEO of Alexandria Automotive Casting. He left after two years to launch his second venture, N&N International which lasted for five years.
Next, Nezar was recruited by IAC Group to serve as the vice president of operations in North Asia. Since 2016, he has been the chairman of Japan Plastics Technologies.
Founding MAXPRO Fitness
Business trips led to Akeel missing out on workouts. Akeel searched for portable exercise machines that would fit his routine but didn’t find any. Over two decades, Nezar developed the idea until he finally got serious in 2014.
In the end, he created a versatile workout tool with resistance cables that can be adjusted from 5 to 300 pounds. The equipment also has sensors that share exercise data with the MAXPRO Fitness app. The business launched in 2019 and generated $4 million in the first year.
Shark Tank Appearance
In 2021, MAXPRO Fitness scored an endorsement deal with Shaquille O’Neal. On the surface, the company appeared to be doing well but was burning $100,000 per month. Nezar Akeels appeared on season 13, seeking $500,000 for a 2.5% stake.
The Sharks were impressed by the product, and of course Robert Herjavec had to try it out. He revealed the business had healthy sales but took on considerable debt to fund inventory and advertising.
Daymond John offered $500,000 but wanted a royalty of $25 per unit until he recouped his money and then it would convert to 4% equity. Nezar didn’t like the deal and ignored the offer. Cuban jumped in and offered $500,000 for 3% equity and 5% advisory shares, the entrepreneur happily accepted.
After Shark Tank
With Shaq already on board, MAXPRO Fitness never had any problems attracting media attention but Shark Tank gave them another huge boost in orders. It appears the deal with Mark Cuban hasn’t closed yet as the business isn’t listed on markcubancompanies.com.
Despite this, Nezar is still operating the business and looking to grow the business while paying down the dent. You can check out their products on MaxProFitness.com and Amazon.com. Their app is available to download for Android and iOS devices. The company also offers payment plans with Affirm to help customers spread out the expense.
The original resistance cable has a 4.1-star rating from 404 customer reviews on Amazon. MAXPRO Fitness made over $10 million in revenue in 2021 and is worth an estimated $16 million. No recent sales figures have been released but most likely annual sales are in the region of $5 to $10 million.
