Shark Tank Season 12 Episode 9 features the all-natural sports hydration drink startup, Electra. The Electra company’s creator has put up $350,000 in exchange for 20% of his firm’s stock on Shark Tank. This is a line of beverages specifically designed to keep you hydrated.
The market for hydration drinks is worth about USD 15.2 billion and is expanding steadily. The term “healthy sports drink” is often used to describe products in this niche. Many established companies have already established themselves as leaders in this market. New York-based brand Cure Hydration has successfully raised $2.6 million.
Although the industry for hydration drinks is still relatively young, competition is heating up as more established companies enter the space.
What Is Electra?
Brand Electra is a sports drink that was featured on the show Shark Tank. The company’s originator saw a need in the market for a healthy sports drink and set out to fill that void. If a player wants to maintain his form, he must also focus on his physical health.
If we’re talking about beverages, sports drinks fall into this category as well, but they’re not quite up to snuff. Numerous companies market their high-calorie, high-sugar beverages as “sports drinks.”
With its unique blend of vitamins, minerals, electrolytes, antioxidants, and amino acids, this drink is the missing link in the chain of sports Electra. The three flavors of these beverages are Passion Punch, Orange, and Litty Lemonade.
What Is The Electra Net Worth?
In 2022, Electra‘s estimated net worth might reach $1.1 million. An estimated US$15.2 billion will be spent on this sports hydration drink brand in 2021, and this number might rise to US$25.5 billion by 2031. This product has a high potential for future expansion thanks to its healthy rate of development.
Electra Shark Tank Update
|Product||All-Natural Sports Hydration Drink|
|Asked For||$350,000 For 20%|
|Final Deal||$100,000 Cash + $250,000 Line Of Credit For 30% Contingent On Securing Partnership With Influencer|
|Episode (Shark Tank USA)||Season 12 Episode 9|
|Business Status||In Business|
|Net Worth 2022 / Valuation||$1.1 Million|
Who Is The Founder Of Electra?
Electra’s founder, Fran Harris, has many interests and was an athlete in college. In January of 2021, she opened up shop in Texas as Electra Beverages. She has held the position of a chief executive officer at the advertising firm Fran Harris Enterprises, LLC since its inception in January 1995.
After earning her Bachelor of Science and Master of Arts in Journalism from UT Austin, she returned to the school to earn her Master of Science in Technology Commercialization.
She has previously hosted HGTV’s “Home Rules” and spent two years teaching at the University of Texas at Austin.
Using marketing and sales methods that have generated over $20 million in the product, speaking, training, and consultancy revenue, she aspires to increase her sales, revenues, and/or leadership positions.
Electra Before Shark Tank
Fran, the company’s founder, has been active in this field for many years, making her an expert in her field. She already managed a marketing firm, and she used his expertise to boost sales for her first product line.
The company’s website states that in 2021, the founder gave 10% of their income to Food and Water. They have a high rate of sales, and in addition to selling online, they also sell to stores.
Did Electra Get a Deal on Shark Tank?
Fran Harris, a founder of Electra, scooped up a shark in a novel way on the show Shark Tank. She wanted $350,000 in exchange for 20% ownership in the business. The founder was grilled by the shark on the company’s financials, including gross sales, net revenue, profit, and loss.
Such is the nature of this industry; numerous well-established names all but eliminate room for development among smaller players. In the event that another business emerges as a direct rival, this one will destroy it.
Harris said she is unconcerned about the rivalry because she has experience in the industry and a strategy for success.
Her strategy involves selling it both in stores and directly to customers. Customers actively seeking water online represent a prime demographic for us to market to.
Mark has inked contracts with two large sports drink manufacturers, he claimed in reference to this business opportunity. This prevents him from accepting the offer.
Harris’s product is made in Coppell, a tiny town not far from Dallas, where she currently works full-time.
The Biggest Distributor, who is going to work with them, emailed them before they came on Shark Tank.
She estimated the first production would cost between $20,000 and $30,000, and Harris indicated she was willing to take on the job.
When asking the founder how he or she plans to spend $350,000, Barbara Corcoran posed the question. The entrepreneur stated that she would spend between $20,000 and $30,000 on production and that the remaining funds would be used to staff logistics, sales, and marketing.
Lori gushes about how much she admires Harris’ intelligence and self-assurance. She can’t join us because I don’t particularly enjoy the alcoholic beverages on offer.
Kevin warns the founder that he needs more than just sales and confidence to succeed in business. He can’t continue working with this company since they are too dominant in the market and won’t let his startup succeed. Confidence may be important when dealing with other products or categories, but it is useless in this industry.
Daymond John says he disagrees with Kevin’s view, but there are many difficulties in the field, so he cannot accept the position.
In Season 1, Episode 9 of Shark Tank, the firm’s creator seeks Barbara Corcoran’s advice after hearing about her previous business agreement with a company named Chill Soda. She put $50,000 into it, only to have it shut down a month later, with no way to recover her losses.
Barbara stated that she did not have access to the full $350,000, but that she would be willing to pay $100,000 in cash and take out a $250,000 line of credit in exchange for 40% equity.
Harris felt that the amount of equity in her Counter Offer was too high, but she still wants to maintain her 25% stake in the company.
After this, Barbara started haggling and eventually settled for a 30% cut.
Barbara Corcoran countered with $100,000 cash and $250,000 in credit at 30% interest, contingent on forming a partnership with the influencer; the agreement was struck after lengthy negotiations. For a young company, this is a fantastic offer.
What Happened To Electra After Shark Tank?
Their initial sales surged after they left the Electra Shark Tank because of the free advertising they received from appearing on the show. The founder plans to use the money he or she has acquired from Shark Tank for things like advertising and production.
The cost of their wares is stated at $11.9. The store also offers powder packs for $19.99.
There is no definitive information as to whether or not Barbara has completed the transaction with Electra, however, Barbara did not announce it on her site.
In any case, the corporation has released some shiny new commercial advertising, so it seems like Barbara will be a part of this enterprise after all.
By July of 2021, it was clear that Barbara had not finalized the sale. You may get Electra sports to drink exclusively from their online store.
During the month of February of 2022, Fran Harris will be at 172 Heb Supermarkets across the state of Texas, selling more of her merchandise. Drink powders were first offered by her company in 2022.
She signed a distribution agreement in July 2022, and the company is set to expand gradually.