George Foreman is regarded as one of the biggest heavyweight champions of all time, and during his prime, he was simply unstoppable. However, Foreman didn’t just end his career as a retired boxer but decided to get into the business of making meat grilling machines.
In an interview, Foreman revealed that during his prime, he was getting offers from various big brands for commercials and wanted to do something of his own. The retired boxer mentioned that he and his friend started a joint venture and started the grill business, which ultimately had a lot of success.
“Lean meat fat-reducing grilling machine. I had become the darling of the medicine avenue. I did everything, Doritos, Pepsi Cola, and McDonald’s commercials everywhere. Then a friend approached me and said ‘George you making all these other people rich, why don’t you get your own product?’ So we started this joint venture and this little ugly thing. I wasn’t afraid at all and that’s the way you do it though and not realizing that you may see Ford, Chevrolet, or whoever, still room for someone else to do something equally as big.” said Foreman. According to Foreman, before starting his business, he wasn’t afraid at all and explained that everybody has the opportunity in the world to start their own business. He made around $138 million from the venture.
The story of the George Foreman Grill
In 1994, George Foreman defeated Michael Moorer to become the oldest world heavyweight champion at age 45. In the same year, Michael Boehm, inventor of the Short Order Grill, sent the foreman a prototype, which, after talking with her wife, the fighter decided to get on board.
The George Foreman Grill was afterward produced by Salton, Inc. Sales of the product began to skyrocket in 1996 when it first appeared on the market, bringing in $5 million.
The sales even soared higher in 1998, collecting an overall revenue of $200 million. Foreman’s initial payment for the collaboration came in the form of royalties. According to reports, he received 40% of each grill sold’s profit. During its peak, Foreman was making $8 million a month through revenues. Since its beginning, they have sold over 100 million units of the George Foreman Grill.
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