TRUFIT Customs offers custom-fit, 3D-printed mouthguards for athletes that combine comfort and protection. Revolutionize your game with cutting-edge gear!
Innovating Athlete Protection: TRUFIT Customs on Shark Tank
In 2024, Matthew Hall, an entrepreneur passionate about creating better solutions for athletes, introduced his company, TRUFIT Customs, on Shark Tank Season 16. With a revolutionary approach to athletic protection gear, TRUFIT Customs aims to solve these issues using cutting-edge 3D printing technology. Their mouthguards are custom-fit, ultra-slim, and designed for comfort, all while still providing top-notch protection and enabling seamless communication during play.
But did Matthew’s innovative pitch convince the sharks? Did TRUFIT Customs get the deal it was looking for? Let’s break down his appearance on Shark Tank and explore what’s happened since the show aired.
Key Takeaway
- The company is exploring new products such as custom-fit insoles and nightguards, strengthening its position in the sports protection market.
- TRUFIT Customs provides custom-fit, 3D-printed mouthguards tailored for athletes, offering enhanced comfort, protection, and communication during gameplay.
- The company utilizes innovative methods, including dental scans and advanced 3D printing technology, to ensure a personalized fit.
- TRUFIT Customs caters to professional athletes in the NFL, NHL, MMA, and other sports, achieving high profit margins and experiencing rapid growth.
- The company secured a deal on Shark Tank with guest shark Rashaun Williams, aiding in the expansion of its product line and brand presence.
Quick Recap: What Happened to TRUFIT Customs After Shark Tank?
Matthew Hall entered Shark Tank seeking $750,000 for 5% equity in his growing business. After an intense pitch and discussions with the sharks, he secured a deal with guest shark Rashaun Williams, who offered $750,000 for 10% equity. The negotiation wasn’t simple, but in the end, Matthew and Rashaun reached an agreement that would help propel TRUFIT Customs to the next level.
Since their appearance on the show, TRUFIT Customs has taken full advantage of the media exposure and the partnership with Rashaun. They launched several new products, including nightguards and Vaporbite, catering to athletes’ broader needs. The company is also testing new areas, such as custom-fit insoles, by partnering with NFL teams during the 2024 season. The brand’s growth trajectory is impressive, and they are on track for even more innovation in the future.
TRUFIT Customs Shark Tank Pitch Recap
- Entrepreneur: Matthew Hall
- Business: Custom-fit, 3D-printed mouthguards
- Ask: $750,000 for 5% equity
- Deal: $750,000 for 10% equity
- Shark: Rashaun Williams
Matthew Hall began his pitch by presenting a clear and concise problem: while mouthguards are necessary for protecting athletes, they are uncomfortable, bulky, and hinder communication during play. He shared the story of athletes struggling to wear traditional mouthguards and how TRUFIT Customs is changing the game by creating custom-fit, 3D-printed mouthguards that are lightweight and comfortable. The technology behind these mouthguards is advanced, leveraging dental scans and 3D printing to produce the perfect fit for each individual.
His focus on professional athletes made Matthew’s pitch stand out. TRUFIT Customs isn’t just a product for casual users—it’s designed specifically for the high-performance demands of professional sports. Matthew explained that the company already serves NFL players, NHL athletes, and combat sports competitors and has built a reputation for providing top-quality gear that doesn’t interfere with performance.
What Sets TRUFIT Customs Apart?
TRUFIT Customs has several key features that set it apart from competitors and traditional mouthguard providers. These unique aspects contribute to the company’s growing success and its appeal to professional athletes:
- State-of-the-Art 3D Printing Technology:
- Unlike traditional manufacturing methods, TRUFIT Customs utilizes 3D printing to create custom mouthguards quickly and at a large scale. This technology allows them to offer precise, individualized fit far superior to generic, store-bought mouthguards. The speed at which they can produce these mouthguards allows the company to scale rapidly and meet demand across various athletic industries.
- Customized Fit Through Dental Scans:
- The company uses a digital process that begins with dental scans to capture the precise shape of an athlete’s mouth. These scans produce a custom-fit mouthguard designed for the athlete’s specific needs, ensuring they have the comfort and protection they need without compromising performance.
- Focus on Professional Athletes:
- While the general consumer market is a key part of TRUFIT Customs’ strategy, the company primarily focuses on professional athletes in sports like football, hockey, and mixed martial arts (MMA). These athletes are often required to wear mouthguards during high-impact games, and a custom-fit, slim mouthguard can make a world of difference in both comfort and communication.
- High-Profit Margins:
- TRUFIT Customs has achieved strong profit margins of 67%. The company has a particularly high 40% margin on first-time customers, making it a highly scalable business model. As demand for their products increases, the profit potential grows significantly, especially with the high value of offering custom, professional-grade gear.
Financial Breakdown of TRUFIT Customs
To understand the financial health of TRUFIT Customs, it is important to look at the cost structure and revenue projections:
- Production Cost per Unit: $31
- Retail Price per Unit: $95
- Customer Acquisition Cost: $23
Revenue Growth
- 2022 Revenue: $115,000
- 2023 Revenue: $750,000
- 2024 Projected Revenue: $1.4 million
- Previous Valuation: $7.5 million
- Funds Raised Before Shark Tank: $1 million
TRUFIT Customs’ rapid growth is reflected in its revenue numbers. From a modest $115,000 in 2022 to an estimated $1.4 million in 2024, the company has seen tremendous success, especially considering the short time since its founding. With a solid customer base of over 1,000 professional athletes and plans to expand their product offerings, the future looks incredibly bright for TRUFIT Customs.
The Sharks: Who Made an Offer?
The negotiation process on Shark Tank was intense, with each shark offering their feedback and perspectives on the business. Here’s a breakdown of each shark’s reaction:
- Mark Cuban: Mark expressed concerns about the Valuation being too high for the company’s stage. Given the risks involved, he chose to pass on the deal.
- Daymond John: Daymond echoed Mark’s concerns about the Valuation and, after hearing Matthew’s pitch, opted out as well.
- Kevin O’Leary: Kevin saw potential in the business but proposed a deal that included a $2 per unit royalty until he recouped $2.25 million and 3% equity for his $750,000 investment. Matthew was not interested in the royalty structure and declined the offer.
- Lori Greiner: Lori was hesitant about the company’s long-term profitability and the time it would take to recoup her investment. She ultimately passed on the opportunity.
- Rashaun Williams: Rashaun was interested in the unique opportunity TRUFIT Customs presented. He offered $750,000 for 10% equity and proposed bringing in 10 to 20 professional athletes as brand ambassadors or potential investors to help grow the brand. After some negotiation, Matthew accepted Rashaun’s offer, which marked a pivotal moment in the company’s growth.
Post-Shark Tank: Where Is TRUFIT Customs Now?
Since their appearance on Shark Tank, TRUFIT Customs has experienced substantial growth. With Rashaun Williams on board, the company was able to capitalize on the media buzz and solidify their position in the market. Their post-show achievements include:
- Expansion of Product Line:
- TRUFIT Customs has introduced new products designed to cater to the full spectrum of athletes’ needs. Nightguards, for example, protect athletes who grind their teeth during sleep. Vaporbite is another product designed to enhance athletic performance by improving jaw alignment and reducing stress on teeth and jaw muscles.
- Testing Custom-Fit Insoles with NFL Teams:
- In 2024, TRUFIT Customs expanded into a new vertical by testing custom-fit insoles with NFL teams. This development represents the company’s ongoing commitment to exploring other athletic gear opportunities, and the success of this pilot program could lead to future product offerings for a broader range of athletes.
- Increased Brand Awareness:
- Thanks to their Shark Tank appearance and Rashaun Williams’ involvement, TRUFIT Customs has garnered increased brand awareness. The company’s presence in professional sports continues to grow, and athletes from different leagues are turning to TRUFIT Customs as a trusted source for customized, high-performance gear.
What’s Next for TRUFIT Customs?
Looking ahead, TRUFIT Customs has big plans. The company is innovating within the mouthguard and dental protection space and expanding into new markets, such as custom insoles and other sports-related protective gear. As it continues to scale and refine its products, it’s well-positioned to capture even more of the professional athlete market and beyond.
One thing is clear: TRUFIT Customs’ future is looking bright. With its unique approach to custom protection gear, its growth is just getting started.
For the latest updates from Shark Tank Season 16, Episode 1, explore the links below:
