Doug Storer Biography
Meet Doug Storer—a name synonymous with innovation and resilience in the running gear industry. As the co-founder of NightRunner 270, Doug has made an indelible mark on nighttime safety for runners and workers. His journey, marked by determination and an unyielding passion for creating impactful products, is truly inspirational.
Doug’s journey began after a personal mishap during a marathon training session in 2013. An unexpected trip on a pothole pushed him into developing a practical solution for nighttime runners. This unfortunate yet serendipitous experience catalyzed the birth of NightRunner 270—shoe lights designed to enhance visibility and safety.
With his wife Renata Storer by his side, Doug turned a vision into reality, creating products that cater not only to runners but also to people working in low-light conditions. Doug’s story is not just one of invention; it’s a testament to the power of personal experience transforming into a successful business venture.
Doug possesses a unique blend of creativity, technical skills, and business prowess, making him a perfect entrepreneur. His commitment to boosting visibility and safety for all outdoor enthusiasts shines through his work with NightRunner 270. Let’s explore his incredible journey, from inspiration to Shark Tank success.
The Founding Story of NightRunner 270
The founding story of NightRunner 270 is a fascinating blend of need-driven innovation and heartfelt determination. It began with Doug’s accident during an early-morning run in 2013. Determined to prevent similar incidents, he envisioned a solution that would revolutionize safety gear for runners.
The idea was simple yet brilliant—shoe-mounted LED lights offering 270 degrees of visibility. His wife Renata played an instrumental role from concept to execution. Together, they engineered a product providing runners and walkers alike with indispensable safety during low-light conditions.
NightRunner 270 features different lighting modes and is designed to withstand the elements. It’s lightweight, weather-resistant, and easy to secure to any running shoe. These features make it a game-changer for both amateur and professional runners who value safety and visibility.
This novel product not only filled a market gap but also sparked excitement among potential consumers. Doug’s dedication and tireless efforts captured attention and resonated with those in search of practical safety solutions. The progress of NightRunner 270 is an inspiring depiction of how necessity truly is the mother of invention.
Doug Storer Net Worth
Estimating Doug Storer’s net worth provides interesting insights into his business journey. The financial success of NightRunner 270 has undoubtedly contributed to Doug’s wealth. Before even stepping onto the Shark Tank stage, Doug had accomplished substantial feats. Through a Kickstarter campaign in 2015, he and Renata raised over $42,000. This initial investment quickly propelled the company forward.
Doug’s business acumen didn’t stop there. With additional seed funds of $120,000 and a pending patent, the company was poised for growth. The subsequent success on Shark Tank further amplified their financial standing. Although they chose to decline Robert Herjavec’s generous offer post-show, the exposure led to a surge in sales, boosting their yearly revenue significantly.
Currently, Night Tech Gear, the rebranded company, racks up impressive sales globally, approximating $5 million annually. Considering these business milestones, Doug Storer’s net worth reflects his entrepreneurial spirit and strategic foresight, cementing his status as a noteworthy figure among Shark Tank entrepreneurs.
Shark Tank Story
For Doug and Renata Storer, appearing on Shark Tank was a defining moment in their entrepreneurial journey. The pair graced the season 7 in 2016, captivating the Sharks and the audience with their innovative pitch. They sought $200,000 for a 10% equity stake in NightRunner 270.
During the pitch, Doug and Renata demonstrated their product’s impact, both for runners and night workers. They also introduced the Night Shift, a variation aimed at industrial settings. The Sharks, intrigued by the potential application and marketability of the product, engaged in a vigorous bidding process.
After deliberation, Doug and Renata accepted an enticing deal from Robert Herjavec: $250,000 for 15% equity, including a $100,000 loan. Not only did their episode promote NightRunner 270, but it also exemplified the inventiveness and determination of Doug and Renata.
The couple’s strategic move to decline the post-appearance investment proved wise. They experienced astronomical sales growth, emphasizing their decision to remain autonomous and agile in business operations.
Education and Background
Doug Storer’s educational background and early professional life played a crucial role in shaping his entrepreneurial approach. While specific academic credentials might not always be highlighted, Doug’s hands-on experience and technical expertise set a strong foundation for his ventures.
He honed a practical understanding of product development and business operations, equipping him to turn challenges into opportunities. Doug’s approach underscores the value of experiential learning, showcasing how practical insights can transcend academic achievements in entrepreneurship.
Renata, Doug’s partner, also contributed to their company’s success with her skills and shared vision. This dynamic duo exemplifies how collaboration and diverse expertise are key to entrepreneurial triumph.
Their Journey through NightRunner 270 emphasizes that great ideas often stem from personal experiences, creativity, and the ability to turn vision into reality. Doug’s background is a testament to the potential of combining learned skills with innovative thinking.
Outcome of Shark Tank Appearance
Their appearance on Shark Tank was a remarkable breakthrough for Doug and Renata. The show not only provided an opportunity for investment but also a platform to present their product to millions. The exposure led to unprecedented demand and established NightRunner 270 as a leader in safety gear innovation.
Following their successful pitch, the company saw soaring sales and growing recognition. With sales projections exceedingly doubled by the end of 2016, the Storers achieved $880,000 in sales revenue that year. Realizing the explosive potential of their venture, Doug and Renata decided to forgo the investment, securing NightRunner 270’s independent path.
Today, as Night Tech Gear, they have expanded their product line, including the Night Trek X and Night Shift, extending their reach to industrial safety markets. Their products are now sold in over 50 countries and numerous online platforms, exemplifying their remarkable growth.
Doug Storer’s creative ingenuity and strategic business decisions have propelled Night Tech Gear to international success. His story, as told on SharkWorth, highlights how the synergy of innovation and determination can lead to empowering business ventures, inspiring future entrepreneurs.
