- Shaq has endorsed over 30 brands
- Despite massive success, he refused to endorse Wheaties twice
- However, Shaq did finally appear on a Wheaties box in 2005
Shaquille O’Neal, the NBA superstar with over 30 brand endorsements, notably turned down the iconic Wheaties cereal box offer twice. His principle of authentic partnerships led him to reject deals that didn’t resonate with him.
In an interview with Business Insider, Shaq revealed why he turned down Wheaties:
“People look at them as endorsements, I look at them as partnerships. I’m very picky. If I’m not in tuned to the product, if I don’t like the product, I won’t do it.”
“I always tell the story about after I won my first championship, Wheaties wanted me to be on the cover. Never ate Wheaties, so I turned them down. Second championship, same thing.”
“I said hey, Breakfast of Champions, I know who you are, but I never eat Wheaties, I can’t do it. Then I told my people, call Frosted Flakes or Fruit Loops, I’ll be on the cover of that.”
Former NBA star Shaquille O'Neal tells us why he didn't sign a deal with Wheaties, even though they asked him twice, and how he chooses his endorsements pic.twitter.com/Zf5omZfWP7
— Business Insider (@BusinessInsider) March 29, 2020
Despite Wheaties’ “breakfast of champions” reputation, O’Neal’s refusal highlighted his commitment to endorsing products he genuinely enjoys.
His decision stems from a simple principle – he views endorsements as partnerships rather than mere promotions. O’Neal’s discerning approach ensures he aligns himself only with products he genuinely believes in and enjoys.
Interestingly, even after winning championships and achieving immense fame, he turned down Wheaties’ offer due to his personal preference. The big man famously stated that he had never eaten Wheaties and didn’t plan to start for the sake of an endorsement deal.
How Did Shaquille O’Neal Build An Empire?
Former NBA star Shaquille O’Neal, with a net worth exceeding $400 million, has made a successful transition from the basketball court to the boardroom through strategic franchise ownership.
Shaq’s investment philosophy is rooted in authenticity and a genuine belief in the products he endorses. He has gone beyond mere endorsements, becoming a hands-on investor in various franchises.
Among his notable franchise ventures, Shaq owns nine Papa John’s locations, where he’s also a board member and brand ambassador, and he sold the rights to use his image and voice for $8.5 million.
His involvement in Auntie Anne’s is substantial, with ownership of 17 pretzel restaurants. Shaq’s early investment in Five Guys, owning and eventually selling 155 restaurants, showcased his keen business sense.
Shaq’s commitment to wellness is evident in his ownership of approximately 40 fitness centers and around 150 car washes, known for their profitability. His emotional connection to Krispy Kreme led him to acquire a historic franchise in Atlanta.
Beyond franchising, Shaq has diversified his investments into brands like Lyft, JCPenney, Gold Bond, and more. He targets ventures that not only align with his personal use but also contribute positively to people’s lives.
Shaq’s brand remains strong due to his continuous visibility post-retirement, and his authenticity and unique style resonate with fans and investors alike.
In essence, Shaquille O’Neal’s franchise ownership journey reflects his commitment to impactful investments and his desire to remain relevant while making a difference. His business acumen and authenticity have propelled him from a basketball legend to a successful franchise owner and investor.
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