The Shark Tank’s episode 804 featured Renata and Doug Storer pitching the Night Runner 270.
LED lights that clip to shoes and illuminate an area up to 30 feet ahead of a runner with a 270-degree arc of light are known as the Night Runner 270. It is simply referred to as “shoeheadlights.”
They started developing the device in 2013 and raised the first round of funding through Kickstarter in 2015.
Thanks to the lights, runners, walkers, and cyclists can see clearly at night. Cars can see lights well, and drivers can avoid barriers like curbs and potholes. Furthermore, a rear-facing red light makes it easier for motorists to see.
The shoelace lights are long-lasting LED light that attaches to your shoelaces. The charging of the units is also accomplished via a USB port: no batteries are needed.
It costs $59.95 for each pair. The majority of reviews on Amazon are positive, but one Amazon review states that “they will not stop a skunk from emerging from the woods after dark; trust me on this.”
It is almost certain that the merchants will need money to fund future production and help with mass-market retailing. How will sharks react to this opportunity?
What Is Night Runner 270?
Night Runner 270s are rechargeable LED lights that attach to a pair of running shoes to illuminate the route ahead at night.
They are rugged and waterproof, providing 150 lumens of illumination and 360-degree sight. The visibility that you gain does include not only the road ahead but also any motorists passing by.
|Company Name||Night Runner 270|
|Entrepreneur||Doug Storer and Renata Storer|
|Product||Shoe Lights that Cover 270 Degrees|
|Investment Asking For||$250,000 For 10% equity in Night Runner 270|
|Final Deal||$250,000 For 15% + $100,000 Loan in Night Runner 270|
|Episode||Season 8 Episode 3|
|Business Status||In Business|
Who Is The Founder Of Night Runner 270?
Doug Storer and Renata Storer founded Night Runner 270 as a husband and wife partnership. Doug served as a sales representative for a construction/architecture firm, while Rene worked as an interior designer.
Night Tech Gear now offers night lighting products for various outdoor activities, and the company is now known as Night Tech Gear.
Renata and Doug remain on the extended board, and the organization has recently hired more employees to take on additional responsibilities.
Night Runner 270 Before Shark Tank
The Shark Tank is the destination for two entrepreneurs. They want to show off a running product. Shark Tank offered a chance to Renada Storer and Doug Storer, married runners in Orlando, Florida.
They discovered a brilliant idea and are asking for $250,000 for a 10% stake in their business. Doug stumbled when he ran into a pothole when preparing for his fifth marathon.
He dived, sustained an injury, and staggered home. He entered the room and stated that he required a flashlight for his footwear!
Renada explained it, and sometimes he had an incredible idea. The result was Night Runner 270 shoe lights, which provide 270 degrees of visibility, 150 lumens forward, and a 30-feet range.
This is to identify any potential tripping risks that may cross your way. Night Runner 270s are also water-resistant, making them able to handle rain as well as uneven terrain.
The Night Runner 270 enables people to pursue their passions while remaining safe and injury-free.
Given that the two are aware that sharks prefer to dine at night, who is eager for a fresh idea?
How Was The Shark Tank Pitch Of Night Runner 270?
Renata and Doug appeared on the Shark Tank seeking an investment of $250,000 for a 10% stake in Night Runner 270.
He describes how he stumbled into a pothole while running in the dark and developed the idea from there.
They distribute samples, which Mark and Lori taste. Mark claims he is unaware they are present.
To build them costs $15.50, but they sell wholesale for $30. Their recommended retail price is $59.95. They have sold $260,000 in the eight months they have been in business.
The company anticipates $760,000 in revenue for the year ahead. As a result, Barbara ventures out into New York City to spot a night runner.
Kevin has become a little more interested in Doug’s idea after hearing it would benefit those who perform their duties in the dark.
Doug says they will call their new workforce paradigm the Night Shift. The battery life is ten hours, as opposed to the four hours of the Night Runner.
Robert offers $250,000 to exchange for 30%. Kevin immediately undercuts him by offering $250,000 for 15%. Liri counters $300,000 for 20% after a brief pause.
Then Robert changes his offer to $200,000 plus $150,000 in loan for 15%. Mark offers $300,000 at 30% with unlimited purchase order financing.
Renata and Doug enter the hallway to confer on the proposals. Robert, Kevin, and Lori all agree to join forces with the Sharks and give each of them a 30% – 10% share of $250,000.
Last year, Doug said he would give up a maximum of 20%. Following some arguing among the Sharks, the two separate and make separate offers.
The dust settles after Robert makes the final offer of $250,000 for 15% plus a $100,000 loan.
Final Deal: Robert Herjavac agreed to provide $250,000 For 15% + $100,000 Loan in Night Runner 270.
What Happened To Night Runner 270 After Shark Tank?
It appears that Night Runner 270 is a success story that is too big to fail. In contrast, Night Runner 270 did succeed.
Their deal with Robert never ended, and Robert did not acquire a majority equity stake in the company.
Instead, Renada and Doug approached a backer and asked for funding to produce 10,000 units soon before this episode of Shark Tank aired.
Their website crashed shortly after the Shark Tank show aired because 10,000 units were produced.
Amazon customers have divided opinions about the Night Runner 270, with an average of 4.95 stars based on more than 290 reviews.
On the other hand, numerous running enthusiast blogs have panned the device, claiming that they slip off too readily and that you can feel them while they’re fastened on.
Despite this, the product seems to be flying off the shelves. Night Runner 270s are available for $59.95 from Amazon, including Prime Shipping.
Night Runner 270 Shark Tank Update
The contract with Robert never materialized, but that was irrelevant. Their earnings for the year were $880,000, and they made $300,000 after the debut.
Additionally, there were over 300 inquiries about the industrial model.
The name of the company changed to Night Tech Gear in May 2021. The annual revenue of Night Tech Gear is approximately $1 million as of January 2022.
Is Night Runner 270 Still In Business?
Night Runner 270 is still in business as of January 2022 under the brand name of Night Tech Gear.
Night runner continues to refine its lighting duration timer. The model is adequate, but their business’s future will depend on expanding and updating it.
A primary objective of locating resources in obtaining finance or investment for production or order fulfillment.
Fortune stated in April 2017 that Herjavec’s Shark Tank contract did not work out “and it didn’t matter.”
Following the show’s airing, Stoner stated, “We heard from 300 firms worldwide that were interested in purchasing it.”
Night Runner is the industrial product described in the show but had not yet developed. Stoner claims that the industrial device will have an extended battery life of 10 hours and double the lumen output.
They can repurpose the lights or integrate them into another useful material, even if they don’t operate as intended due to various unknowns.
Night Runner 270 has yet to unveil its new industrial product, but with 300 companies waiting to place orders, you can bet the team is working all night under extraordinary lighting.