Biography of Josh Thurmond: Founder and CEO of LavaBox -Entrepreneur
Josh Thurmond: From Idea to Entrepreneur
Josh Thurmond’s entrepreneurial journey began with a simple
but meaningful request during a camping trip. A fellow camper asked him to
create a firepit that was more compact and portable than the traditional ones.
Inspired by the idea, Josh went home and started working on prototypes. After
multiple attempts, his seventh prototype became the perfect design, leading to
the creation of LavaBox Portable Campfires.
The Birth of LavaBox
LavaBox is a portable campfire housed in a durable,
military-grade ammo can, designed to be smoke-free and ember-free while
providing a solid fire source. The unique product came at a time when many
campers were looking for safer, more compact alternatives to traditional
campfires. This innovation made LavaBox a standout product, offering an easy
solution to fire restrictions.
Early Success with LavaBox
After creating the ideal prototype, Josh launched LavaBox to
the market and quickly saw success. In just a week, he sold 40 units,
confirming that there was a demand for a portable, easy-to-use campfire
solution. By the time LavaBox was introduced to a broader audience, the company
had already made a name for itself, driven by Josh’s focus on quality and user
satisfaction.
Joining Shark Tank
In 2022, Josh brought LavaBox to ABC's Shark Tank, hoping to
secure investment for scaling his business. At that time, LavaBox had generated
$610,000 in revenue, with projections to hit $1.2 million by year-end. Josh’s
appearance on Shark Tank was a significant step in his entrepreneurial journey,
giving him the chance to pitch to high-profile investors and potentially secure
funding for further expansion.
The Pitch
Josh asked the investors for $200,000 in exchange for a 10%
stake in LavaBox. He also wanted assistance in getting his product into major
retail stores like Target and Bass Pro Shops. His online store was experiencing
overwhelming demand, and he needed help to take LavaBox to the next level. His
pitch was honest, demonstrating the hard work and determination he had put into
making LavaBox a success.
The Investors’ Response
The Shark Tank investors were impressed by Josh’s commitment
and perseverance. Mark Cuban, known for his entrepreneurial spirit, praised
Josh for the numerous iterations of the product that led to its success. Cuban
appreciated Josh’s willingness to experiment and refine the product until it
met the market's needs. The investors saw in Josh the qualities that are
essential for a successful entrepreneur: persistence, adaptability, and vision.
Biography of Josh Thurmond: Founder and CEO of LavaBox -Entrepreneur# startup#age#net worth#investor#shark tank#LavaBox story#Josh Thurmond story
Offers from the Sharks
The panel of investors, including Cuban, Kevin O'Leary,
Daymond John, and Lori Greiner, responded with offers of their own. O’Leary was
the first to make an offer, proposing $200,000 for a 20% equity stake in
LavaBox, emphasizing his large following and potential to promote the product.
Daymond John matched O’Leary’s offer, while Lori Greiner added a unique twist:
she offered $200,000 for 15% equity, along with a 75-cent royalty per unit sold
until her investment was recouped.
Negotiations Heat Up
The negotiations intensified as each investor made their
case for why they were the best partner for Josh and LavaBox. O’Leary argued
that he could leverage his followers to bring more attention to the product.
John also touted his expertise in retail partnerships, while Greiner
highlighted her hands-on approach and commitment to working closely with
entrepreneurs. As the offers evolved, Josh found himself facing tough
decisions, knowing that choosing the right partner could shape the future of
LavaBox.
Choosing the Right Partner
Lori Greiner’s personal approach stood out to Josh. He
valued a partner who could offer guidance not only in business strategy but
also in the day-to-day challenges of running a startup. Greiner’s promise to be
available around the clock, even at late hours, resonated with Josh, who
appreciated the kind of mentor she could be. In the end, Josh chose Greiner’s
offer, valuing the potential for a supportive, hands-on partnership
The Deal
Josh Thurmond accepted Lori Greiner’s offer of $200,000 for
a 12.5% equity stake, with the added condition of a 75-cent royalty per unit
sold. This deal marked a significant milestone in the growth of LavaBox, as
Greiner’s involvement promised to bring not only financial support but also
retail expertise and the ability to expand LavaBox’s reach.
LavaBox’s Growing Popularity
LavaBox’s success continued to grow after the Shark Tank
episode aired. With Greiner's expertise, the brand saw an increase in exposure,
reaching new customers and expanding its market. LavaBox became a popular
choice for outdoor enthusiasts looking for a safe, portable campfire option
that could be used in areas with fire restrictions. The brand’s reputation for
innovation and quality further solidified its place in the camping and outdoor
products market.
Josh’s Previous Experience
Before founding LavaBox, Josh gained valuable experience in
the nonprofit sector, working with organizations such as Adam’s Camp and the
National Sports Center for the Disabled. In these roles, he focused on creating
adaptive sports programs and outdoor adventure experiences for individuals with
disabilities. His background in nonprofit management and his passion for
outdoor recreation equipped him with the skills necessary to build a successful
business centered around outdoor enjoyment.
Josh’s Personal Commitment
Josh’s commitment to the outdoor community is evident in his
volunteer work with organizations like Team River Runner and his involvement
with the Colorado Whitewater Association. He is deeply invested in ensuring
that people, especially those with disabilities, have the opportunity to enjoy
outdoor adventures. This personal commitment to the outdoors aligns with
LavaBox’s mission of making outdoor experiences accessible and enjoyable for
everyone.
The Future of LavaBox
Looking ahead, Josh Thurmond is focused on continuing to
innovate and grow LavaBox. With the support of Lori Greiner and the backing of
the Shark Tank deal, he is working to expand LavaBox into retail stores, making
the product available to an even wider audience. As the demand for outdoor
products increases, LavaBox is poised for even greater success, thanks to its
unique offering and Josh’s determination to build a lasting brand.
Timeline for story
Camping Trip (Date Unknown): Josh Thurmond is inspired to
create a portable, compact firepit.
Prototype Development (Date Unknown): Josh creates seven
prototypes before finalizing the LavaBox design.
Early Success (Date Unknown): LavaBox sells 40 units in its
first week.
2022: Josh pitches LavaBox on Shark Tank, seeking
investment.
2022: LavaBox generates $610,000 in revenue with projections
of $1.2 million.
2022: Offers from Sharks, Josh chooses Lori Greiner’s deal.
2022: Josh accepts Lori Greiner’s offer of $200,000 for
12.5% equity and a 75-cent royalty.
Post-Shark Tank (2022): LavaBox sees increased popularity
and exposure.
Future Plans (Ongoing): Josh focuses on expanding LavaBox
into retail and further growth.
