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Nexersys is a fitness product that merges high-intensity interval training (HIIT) with boxing and martial arts-inspired movements. Featured on Shark Tank Season 5, this equipment offers a comprehensive workout.
At its core, the Nexersys system includes a stand-alone machine with seven strike pads configured to mimic a real opponent. These pads are designed to absorb punches and kicks, providing realistic resistance.
Nexersys includes a central computer and screen that delivers personalized training regimens, responds in real-time to user performance, tracks progress, and offers immediate feedback on technique.
Nexersys is ideal for fitness enthusiasts and those aiming for a healthier lifestyle. It engages multiple fitness aspects, not just cardiovascular endurance or strength training.
The system’s strikes, kicks, and movements provide an excellent cardio workout while simultaneously building strength and coordination.
Nexersys offers multiple difficulty levels, catering to beginners and experienced athletes, making it versatile for individuals or families with varying fitness levels.
The system includes various workout routines, ensuring users won’t get bored with repetitive exercises. Its compact design means it doesn’t require much space, making it suitable for home gyms.
Nexersys combines the benefits of a personal trainer with advanced technology for a unique, high-intensity workout. The machine provides a full-body workout through cardio, strength, and core training.
Nexersys is a great choice for those seeking a high-intensity workout tailored to their fitness level. It offers a fun, gaming-like experience that keeps users engaged, whether they’re experienced athletes or fitness newcomers.
Terry Jones, an entrepreneur with a background in business and a passion for fitness, founded Nexersys. Before founding Nexersys, Jones was involved in several business ventures that honed his industry skills.
His personal and professional experiences led to the concept for Nexersys, filling a market gap for a product that provides a high-intensity, full-body workout while engaging users in a fun and interactive way.
Developing Nexersys required extensive research and development to create a machine that was physically challenging and engaging on a cognitive level. Jones and his team spent significant time designing the system to ensure it was durable, safe, and effective for all fitness levels.
Before appearing on Shark Tank in season 5, Nexersys had already achieved some success, with the product available on the market and garnering attention for its unique approach to fitness.
However, the company sought additional investment to further product development and expand marketing efforts.
The appearance on Shark Tank provided an opportunity to present Nexersys to a wider audience and secure the funding needed for the next growth phase.
Nexersys Shark Tank Pitch
Founder Terry Jones and professional fighter Marlen led the Nexersys presentation on Shark Tank.
They demonstrated how Nexersys provides an interactive, full-body workout, simulating a one-on-one challenge with an on-screen avatar. Mark Cuban tried the machine and, despite his powerful punches, achieved an accuracy of just 36%.
Jones proposed that Nexersys could help users achieve a healthier and more attractive lifestyle using professional fighting techniques. However, the financial aspects raised concerns among the Sharks.
Nexersys was valued at $20 million, with sales of just over $4.2 million in 18 months. The company was close to breaking even but not yet profitable.
Terry explained that Nexersys had two models: a personal model priced at $2,995 and a more advanced commercial model at $7,000. Approximately 70% of their sales came from the commercial model.
The company’s debt became a significant issue for the Sharks. Nexersys owed $7.5 million to shareholders, and Terry Jones owned only 35% of the company.
The Sharks were worried that debt holders could push the company into bankruptcy, risking Terry’s equity.
Despite the product’s impressive nature and growth potential, the Sharks were hesitant to invest due to the financial situation. Kevin O’Leary and guest Shark Steve Tisch both highlighted concerns about the company’s debt and valuation.
Mark Cuban and Daymond John echoed these concerns, emphasizing the risk involved with investing in a heavily indebted company.
Lori Greiner was the last Shark to consider investing but ultimately decided against it due to the debt issues.
Although Nexersys left the tank without an investment, they reportedly experienced a substantial increase in sales after their Shark Tank appearance. This boost helped them eliminate their debt and expand their product line by 2023.
The company managed to turn its financial struggles into success, demonstrating the strength and appeal of its product despite initial financial challenges.
Nexersys After Shark Tank
After Nexersys appeared on Shark Tank, the company experienced a notable boost in sales, even though it didn’t secure a deal with the investors.
This phenomenon, often called the “Shark Tank effect,” led to a 450% increase in sales following their TV appearance. This surge in revenue allowed Nexersys to achieve profitability much sooner than anticipated.
The company also managed to significantly reduce its debt, converting many of its Convertible Subordinated Notes to equity.
By the end of 2019, Nexersys had completely cleared its debt, a remarkable feat considering they were not profitable when they first appeared on the show.
Nexersys continues to operate and has expanded its product line to include a variety of fitness training equipment.
Their offerings now encompass budget-friendly cross-fit and boxing trainers, as well as different models of their flagship Nexersys products, such as the N3 Elite, N3 Commercial, N3 Pro, and N3 Youth. These products cater to both home users and commercial operators.
The company remains dedicated to innovation, providing a diverse array of high-quality, interactive fitness machines designed for users of all fitness levels.
Despite initial challenges and the absence of a deal on Shark Tank, Nexersys has successfully turned its situation around and thrived in the fitness equipment market.
Nexersys products are now available in over 40 countries worldwide. Their range includes models for both home and commercial use, and they offer various features such as high-definition tablets with real-time 3D graphics, dynamic training videos, multi-axis strike pads with accuracy and power data, and height-adjustable frames. Prices for these models range from $1,795 to $6,995.
The company also provides financing plans through Affirm, allowing customers to pay in monthly installments. Additionally, their N3 machines do not require a subscription, and they offer a 30-day return policy minus any potential restocking fees.
They have expanded into workout accessories, including dumbbells, sit-up bars, boxing gloves, hand wraps, and sports towels.
Nexersys has continued to update its software to offer new workouts and features, receiving positive reviews from users who appreciate the challenging and engaging workouts provided by the machines.
Despite not receiving an investment from the Sharks, Nexersys has seen significant growth and success, establishing itself as a key player in the fitness industry.
According to research, Nexersys’s net worth is estimated to be $10 million. The company’s valuation was $20 million when it appeared on Shark Tank.
