JUST one year after Brian Altomore was rejected by Shark Tank, the entrepreneur sold his luggage transportation business to a competitor and saw his customer base more than triple in size.
The LugLess business, which offers travelers a cheaper alternative to transport baggage than airline services, surged in popularity after Altomore appeared on the show in 2013 despite the founder not receiving a deal.
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Altomore pitched his company to the sharks which offered consumers the option to ship their luggage ahead of time rather than pay airlines to add bag fees on top of an airfare.
The founder believed it would be an attractive option for larger families and people traveling with large items such as skis and golf clubs.
But Shark Tank judges took aim at the business for being too expensive, un-scalable, and up against too many competitors in the airline space.
Despite the rejection, Altomore knew his instinct was right.
PACK IT UP
Immediately after the episode aired, he received “incredible” feedback from consumers who saw the potential to save money when they travel.
“We grew 500% after the show because regular travelers resonated with what we pitched as a cost-competitive alternative to checking bags with an airline,” Altomore told The U.S. Sun.
“It was a great vindication after being on the show.”
The business now boasts over 250,000 users and is doing what was a full year’s business back in 2016 now in just under two weeks.
While acknowledging his appearance on Shark Tank was a “once in a lifetime opportunity,” Altomore says the judges failed to see the potential of his business given they don’t “walk in the same shoes” as everyday Americans.
“They are millionaires and billionaires on the panel,” Altomore said.
“They are removed from what an average travel experience is like at an airport, and this is backed up by the fact that the audience helped us grow so much right after the show.
“The consumers understood the pain points…the judges missed an opportunity to be part of something which changes the way people travel.”
The panel on Shark Tank, known as the Sharks, all have their own successful businesses.
The most well-known Shark is Mark Cuban, boasting a net worth of $6.2 billion.
Cuban, who formally owned a major stake in the Dallas Mavericks, recently announced his retirement from the show to focus on his new ventures.
SHARK BAIT
Altomore said he had to do a huge amount of work to prepare for the show, including going through multiple interview stages and preparation in front of the producers.
“It was a long process to get considered and to get in the mix of doing the rehearsal and in front of the pitching team,” he said.
“You do a pre-pitch in front of 60 producers before you go in front of the Sharks, and then from there, you have no idea if you get a deal or not.”
Almost seven years on from his Shark Tank experience, Altomore now works helping the business grow its partnerships arm.
Based out of Chicago, the founder said it has been a “humbling experience” to be part of growing the business and to look back on how far it has come.
The U.S. Sun covers all things Shark Tank which features entrepreneurs who pitch a business to receive investment.
The U.S. Sun reported on growing speculation Shark Tank judge Mark Cuban had plans to run for president after he announced plans to quit the show.
