'Shark Tank' offers a life-changing deal to mom and daughter duo who pitched their fitness board

As one of the "Shark Tank" investors with business acumen that's spot on, Lori Greiner has backed products on the show that are now widely successful. Apart from 'Scrub Daddy,' one of the most memorable ones is the "Simply Fit Board," which was pitched by the mother and daughter team of Linda Clark and Gloria Hoffman in season seven. Greiner put her foot down to get 20% of the company for $125,000, and it eventually made millions down the way.

In their first appearance on the show, Clark and Hoffman entered the Tank seeking $125k for 15% of their business. They pitched their unique product, the Simply Fit board, which helps people burn calories by staying in one position. They explained that the board is made of lubricated plastic, allowing users to twist smoothly on the floor.

The Sharks were so intrigued that Kevin O’Leary sprang up to try it out, first hand. As he jumped up the board, Robert Herjavec joked that it may help him with his "big muffin top."

After this, the entrepreneurs handed out the samples, and the questions started flying in. O'Leary asked if the product worked on carpets, and Hoffman assured him that it did. Barbara Corcoran asked if they had a patent to protect the intellectual property, to which they revealed that it wasn't yet patented.

While the Sharks were pleased with the margins, Greiner asked them if there were other similar boards on the market. Hoffman admitted that there were similar products, but all of them were made of wood and had circular bases, making the Simply Fit Board's design unique. However, Mark Cuban believed that it wouldn't take long for competitors to copy their product, which is why they needed to scale at a breakneck pace.

At this point, O'Leary had heard enough as he made the first move, offering $250,000 for 30% equity, double what the duo asked for. "I rarely give out more than you want. That's exactly the valuation because I kind of believe that, because of my own experience, this product is going to find a niche in people over 40," O'Leary claimed.

While Mr Wonderful was in, a few other Sharks weren't convinced. Hervajec became the first Shark to drop out, as there was nothing proprietary. Corcoran also followed suit, citing her poor experiences with infomercial exercise products. While Cuban kept quiet, Greiner was excited to make a deal. She offered $125,000 for 20% equity, saying that she was the perfect fit for the company. Not willing to give up so much equity, Clark and Hoffman asked if Greiner wanted to team up with O'Leary. However, Greiner argued that she didn't need a partner. "I will go solo here because this is my world. This is my sweet spot. This is what I'm excellent at. I make millionaires this way," she said. She claimed that she could get the product in any store they wanted and make the two millionaires.

Hoffman tried to negotiate the equity part of the deal, but Greiner put her foot down, saying it was a fair offer. Ultimately, they accepted the offer and closed the deal with the QVC queen.

Later, in an update, the show shared how far Simply Fit Board had come since their appearance on "Shark Tank". "Before Shark Tank, we had done $575,000 in sales. 24 hours after being on Shark Tank, we did $1.25 million in sales," Clark said in the update. She added that Greiner took the product to QVC, and they sold out of boards in just 6 minutes.