Corcoran offered to invest $100,000 in cash and a $250,000 line of credit for 30% equity. However, Greiner said, sports drinks are not her cup of tea and decided that she was out. In January of 2021, she opened up shop in Texas as Electra Beverages. Electra - Shark Tank Blog electra sports drink net worth. Pete Kadens Net Worth: How Rich Is Pete Kadens in 2022!. She said there are two famous celeb athletes who are willing to come on board for this business. The Biggest Distributor, who is going to work with them, emailed them before they came on Shark Tank. Additionally, Electra has expanded its online presence, selling directly through its website and other e-commerce platforms. This statement made all the sharks out of the deal. Download isFREE. ], Muff Waders: Beer Cooler Overalls Pitch Mark Cuban on Shark Tank Bingo!, l-r: Taylor Ness, Garrett Lamp of Muff Waders on Shark Tank (ABC), 2012-2023, 2paragraphs Productions, LLC. Electra Sports Drink Regarding this business offer, Mark said that he has already signed a deal with two major sports drink manufacturer brands. Electra seems to have a modest online presence, but it is still in business. How she breaks into this big beverage space. Harris said that she is not afraid of the competitor as she has already been working in this field, and she has a plan for this business. Daymond John says he disagrees with Kevins view, but there are many difficulties in the field, so he cannot accept the position. An example of data being processed may be a unique identifier stored in a cookie. It always pays to know every significant detail in your business. Pete Kadens Net Worth: How Rich Is Pete Kadens in 2022. This beverage has a very good growth rate which can make it cross all limits in terms of gaining profit. WebElectra Champion. She wanted $350,000 in exchange for 20% ownership in the business. She contributed to the companys early 2020 debut with a $7212 IndieGoGo campaign. Orange. 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. What Happened to Wired Waffle After the Shark Tank Pitch? When the sharks asked why she needed an investment? Fran made a mistake by sharing an unnecessary point during the pitch. Welcome to Imm3rsive, where we provide a fresh perspective on the latest news and updates in the entertainment industry. Difference between Heuristic and Biases and their types? As of June 2022, Electra Sports Drink was estimated to be worth $1.1 million. Electra is an all-natural sports hydration drink brand that featured in Shark Tank Season 12 Episode 9. Harriss product is made in Coppell, a tiny town not far from Dallas, where she currently works full-time. What Happened To OverEZ Chicken Coops After Shark Tank? The added components make for better prehydration and rehydration. In July 2021, it appeared that Barbara had not closed the deal. Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Who is the founder of Electra Sports Drinks? vitamins, antioxidants, BCAAs and electrolytes. How will TRAIN affect income taxes of individuals and corporations? With this information, Corcoran agreed to cut her equity stake to 30% and provide the same cash and line of the credit arrangement. The consent submitted will only be used for data processing originating from this website. Update on Electra Beverages From Shark Tank - The Cinemaholic What Happened to Longhairs after Shark Tank Pitch? Fran must include one of the two anonymous athletes in the mix for the offer to be accepted. How do I make a payment to Electra Beverages? March 22, 2023 | In hitman 3 vr mod | By . Confidence is not enough. Shark Daymond John agreed and was also out. What Happened To Happi Floss After Shark Tank? If an athlete has to keep his game right, then he has to take care of his fitness along with the game. What episode was Electra Sports Drinks aired? The founder of Electra, Fran Harris, is a former WNBA Basketball star who created the drink out of frustration with current products in the sports drink space. Electra Beverages Barbara Corcoran said, wait lady, Im still here and gave an offer of $100,000 for 30%, along with $250,000 on a line of credit with the addition that she wanted one of the athletes to join them. 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. After reading the nutritional labels, she discovered that sports drinks were mainly composed of sugar, artificial food coloring, and salt. There are no artificial colors or ingredients and each 16 ounce bottle is loaded with vitamins, amino acids, antioxidants and electrolytes. During the pitch, the firms value was $1.75 million; however, the company is still in operation as of January 2022. Electra Sports Drink is only available on its official website. When he isnt reading the source material for a piece or decompressing with a comfort horror movie, Nik is usually somewhere on his bike. At the moment, this product is only accessible in the United States. Fran Harris at 172 Heb Supermarkets in Texas in February 2022 to expand her product. Harris played an instrumental role in leading the University of Texas to an NCAA championship in 1986 and played for the Houston Comets, who won their first WNBA title in 1997. Electra updated their formulation after listening to feedback from consumers. Rules & Strategy. 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. Moreover, the increasing popularity of sportsand fitness activities, coupled with a growing consumer focus on health and wellness, suggests that the demand for sports drinks like Electra will continue to rise. WebWhen autocomplete results are available use up and down arrows to review and enter to select. According to the company website, they have since switched to NCZ Sweet, which is a natural, zero-calorie sweetener made from fermented sugarcane. Through strategic partnerships, endorsements, product innovation, and effective marketing efforts, the brand has managed to carve out a niche in the competitive sports drink market and amass significant wealth. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. If not, all bets are off, countered Corcoran. She received an offer from Barbara Corcoran for $100,000 in investment and a $250,000 line of credit for 30% equity. Mark has inked contracts with two large sports drink manufacturers, he claimed in reference to this business opportunity. 183 following. Electra had a modest online presence, but as of 2023, it seems that Electra may have run out of energy. Fran Harris decided to create Electra to provide a healthier hydration alternative to the big brands of sports drink for everyday doers, hustlers, and athletes according to its website. | All You Need to Know. How much money did Barbara Corcoran put up? Athletes are Electras target market. He cant continue working with this company since they are too dominant in the market and wont let his startup succeed. by 2Paragraphs in Business Spotlight, Shark Tank | March 6, 2021, Fran of Electra on Shark Tank (ABC/Christopher Willard). They certainly are! Ten (10) % of our 2021 revenues will be donated to programs that help to eradicate food and water insecurity, as well as those that focus on STEM, These are available in 16 FL oz. Fran introduces herself, the product, and hands out samples. Electra Electra has not posted on Twitter since 2021, Facebook since early 2022, nor Instagram since summer 2022. Harris is no Ill give you 30% if you bring in both big fish with us. Fran Harris, a founder of Electra, scooped up a shark in a novel way on the show Shark Tank. In July 2022, she signed a deal with some distributors, and now it is about to grow slowly. It is mandatory to procure user consent prior to running these cookies on your website. Harris said she would do the first production for a value of $20K to $30K. What Happened To Kettle Gryp After Shark Tank? Before coming to Imm3rsive, Shane wrote about comic books, labor, race, and a multitude of other topics, and his writings have also been featured in various renowned magazines. Texas founder lands funding on 'Shark Tank' to launch sports drink Fran Harris founded Electra to provide a better hydration option for major sports drink brands, targeting daily doers, hustlers, and athletes, according to the companys website. Harris is no stranger to the small screen. Yes, they are highly concerned about the environment. She already managed a marketing firm, and she used his expertise to boost sales for her first product line. She offered $100,000 Cash + $250,000 Line Of Credit For 30% Contingent on Securing Partnership with Influencer. Electra Beverages is a better-for-you functional beverage company. During the pitch, they asked for a valuation of $1,000,000. Electra Sports Drink | Indiegogo Electra is a sports hydration drink brand that appeared on Shark Tank in 2021. The new challenger coming to the industry is Electra, a sports drink brand by former WNBA player, Fran Harris. That is entirely up to them, but a chilled Electra, like other hydration beverages, will never let them down. She invested in herself by attending BevNet, a premier beverage conference. What is iReTron? Yes, Electra is still in business as of November 2022. Barbara Corcoran said how will you spend this $350,000 money to the founder, In this, the founder said that she would spend $20K to $30K on production, and the rest of the amount she would hire Logistics, Sales, and Marketing People. As of January 2022, Electra Beverages website does not presently offer a promotional code. Texas startup Electra Beverages to pitch sports drink, lifestyle Saudi Aramco Business Model: How Saudi Aramco makes money? Fran Harris, a former WNBA star, is the founder of Electra sports drink. It is sweetened with Munk Fruit, an alternative to traditional artificial sweeteners. In the following sections, we will delve into the various factors that have contributed to Electras Csport Casan Biz Lines | How Does it Work? Sharks liked the product but there were so many questions on their minds which could be clearly seen on their faces. As Seen On Shark Tank Electra is a better-for-you hydration beverage feat. Electra Sports Drinks is a new sports drink beverage on the market. It was the first ST episode of the new year and we didn't disappoint. Electra Net worth Update (Before & After Shark Tank) If there is any other product or category than this, then confidence is useful in it but not in this business. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. This Electra energy drink company has been running for a long time and now it is running well in May 2020 as well. Here is an update on Electras net worth so far. Fran Harris was asking for $350,000 for 20% equity in Electra Sports Drinks. Harris answered that around $30,000 will go to inventory, $25,000 will be for research and development, and the rest will go to logistics, sales, and marketing. Nik is the Entertainment and Technology Editor at Imm3rsive. Kelsey McNeal | ABC Shark As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. Electra is a sports hydration drink brand that appeared on Shark Tank in Season 12, Episode 95. From the founder, the shark wanted to know about the companys gross revenue, net revenue, profit, etc. Electra Beverages (@idrinkelectra) Instagram photos and videos Because the product is created from natural materials, there are no known adverse effects. Also Read: Patrick Carney Net Worth: A Real-Time Update on Richer Life! Your email address will not be published. Electra is a hydration beverage offering more functionality than regular sports drinks but with lower sugar content and fewer calories. How Does Electra Sports Drinks Shark Tank Works? Each 16 oz bottle contains only 60 calories. Here are the reasons for its failure! The founder of Electra, Fran Harris, is a former WNBA basketball star who created the drink because she was dissatisfied with the high sugar content of other sports drinks on the market. What Happened to Sarah Oliver Handbags After the Shark Tank? Manage Settings She was tired of being frustrated by the nutritional label of the popular sports drinks shes been told to drink but left her feeling sluggish and did not help her recover at all. Electra Beverages is valued at $1.17 Million with Barbara Corcorans investment of $350,000 in combined cash and line of credit for 30% equity. Fran shared that she had just started this company as it was at the stage of pre-revenue. These cookies do not store any personal information. The best by date is printed on the bottles cap. What was the sales model of Electra Beverages? What Happened To Calm Strips After Shark Tank? She observed that when she used to play sports, she had to consume hydration drinks for 30 years, without any option available to them. A significant factorin Electra Sports Drinks financial success has been its strong sales performance and extensive distribution network. This focus on innovation has not only led to increased sales and market share but has also contributed to the brands overall valuation and net worth. Her plan is that she will take it directly to the consumer and also make it available in the retail store. Electra Beverages accepts only credit cards as payment. Barbara Corcoran agreed to invest $100,000 and provide a $250,000 line of credit for 30% of the company. electra sports drink net worth Electras founder, Fran Harris, has many interests and was an athlete in college. Tngnt Ski Bikes Net Worth, Best 5 Universities for Business and Economics. This would have valued the company at $1.75 million. Harris felt that her sports drink, designed with physical wellness in mind, was a true winner. They are doing very well as a start-up and generated $41,000 through Kickstarter in 2020. I like to share with people the information about every startup that came on the Shark Tank show. After completing her B.S and M.A., in Journalism from the University of Texas at Austin, she studied Masters of Science, in Technology Commercialization at the same university. No artificial ingredients, no high-fructose corn syrup (HFCS), no refined sugars, and no salt in any of their flavours. Onum is a values-driven SEO agency dedicated. Here is the complete analysis! What is the Availability Heuristic and how does it impacts your business? Electra founder Fran Harris pitched well enough that the Sharks liked the business, so Barbara Corcoran invested $100,000 Cash + a $250,000 Line Of Credit For 30% Contingent On Securing a Partnership With an Influencer in it. Consequently, these partnerships and endorsements have played a crucial role in boosting the brands net worth. Please look at recycling programs in their area. There is no exact answer whether Barbara has closed the deal with Electra, but Barbara did not mention it on her site. Electra Sports Drink is a hydration beverage that offers more functionality than regular sports drinks but with lower sugar content and fewer calories. Corcoran offered $100,000 in cash and a $250,000 line of credit in exchange for a 40% equity stake. The company was founded by a group of sports enthusiasts and nutritionists who identified a gap in the market for a sports drink that could cater to the specific needs of athletes. So, she created Electra. ), youll surely need the SWIFT Code of the bank. If we talk about drinks, then sports drinks are also present in this sports category but they are not able to fill the need properly. The Sharks all exit when Fran says she has a pair of excellent players eager to join the team. Electra Sports Drinks commitment to product innovation has also been a driving force behind its financial success. Shein Business Model Breakdown: How Shein makes money? She helped the company launch in early 2020 with an IndieGoGo campaign that raised $7,212. Fran Harris is the founder of Electra Sports Drinks. Electra Sports Drink Net Worth When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc. Why Did LeSports Shutdown? What Happened To Bleni Blends After Shark Tank? Electra Beverages. What is the net worth of Electra Sports Drink? The Dough Bar offers healthier doughnut, Read More What Happened to The Dough Bar After Shark Tank?Continue, What Happened to IReTron After the Shark Tank Pitch? Aitchs Past Relationships: Lola Thompson to Amelia Dimoldenberg! It is designed for athletes as well as the average on-the-go person, and it contains a number of essential vitamins, minerals, and electrolytes. The Sharks like it, but there are many reservations about how difficult it is to get into the beverage market. Orange. She wants a Shark to help her navigate the rivers and to have extensive retail distribution. Harris accepted the deal. On the show, Harris stated that Electra uses Munk fruit as a natural sweetener. iDrinkElectra Still Running Well After Shark Tank. The company has consistently invested in research and development to improve its existing formulations and create new products that cater to the evolving needs of athletes and fitness enthusiasts. Chris Rock and Lake Bells Romance History! Harris is well-known for her appearances on various television shows, including Good Morning America, Today, CNN, CNBC, and MSNBC, where she has provided life and business counseling, as well as for her competitive collegiate and professional sports career on TV. Look no further because you can find all the SWIFT Codes you need in this list! Liquid I.V. What happened to Electra Sports Drink after Shark Tank? $100,000 cash + $250,000 line of credit for 30% contingent on securing partnership with influencer. Continue with Recommended Cookies. The estimated net worth of Electra Sports Drink is around $1.17 million as per the Shark investment. The companys website states that in 2021, the founder gave 10% of their income to Food and Water. Harris was thrilled with the partnership with Barbara Corcoran and believed that she would continue to succeed with her support. She observed that when she used to play sports, she had to consume hydration drinks for 30 years, without any option available to them. All pricing are in US dollars. What Is Electra Sports Drinks Shark Tank? Yes, She likes to go to the gym. She left with a deal with Barbara Corcoran: $100,000 with a $250,000 line of credit for 30 percent, contingent on Fran getting at least one professional athlete on board. Latest Update! Electra Sports Drinks Net Worth 2023 - Shark Tank Updates As of August 2022, this product is not yet available on the HEB markets, it is currently selling only on its website. This product provides people with energy without making them feel bloated. He had wished Harris through the video. 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. After some negotiation, Harris revealed that she was in talks with two Hall of Famers from the NFL and NBA who were interested in investing and promoting the product. They also stated that they would like to promote the product to professional boxers, MMA fighters, and other sportsmen that require a rapid way to hydrate while fighting/training. Does Electra Beverages ship to countries other than the United States? WebAs of 2023, Electra Sports Drinks estimated net worth is approximately $120 million, given the brands continued growth and expansion into new markets in recent years. Fran takes the pitch and leaves with a deal. The founder was grilled by the shark on the companys financials, including gross sales, net revenue, profit, and loss. Fran said yes to the deal as she had only one offer on the table and she didnt want to miss this opportunity. This is a very big player in the category who does not allow the small business to survive, so because of this, he is out of this deal. Olivia Munn Bikini Photo from Las Vegas Shows Off Her, The Most Disregarded Fact Regarding Marijuana Explained, Cardi B Shows Off Her Thong Bodysuit in A New Instagram, Electra Drink Net Worth: What Happened to Electra in Shark Tank?. How is the Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? Orange and Litty Lemonade, are free of artificial colors or ingredients and each After the show, the deal made on Shark Tank was never closed. What is the Net Worth of Electra Sports Drinks? Mark Cuban praised Electras flavor and composition but couldnt invest due to his current involvement with another sports drink company. Electra Sports Drink update after $1.17 Million Shark Tank valuation Electra Beverages on Shark Tank: 5 Fast Facts You Need to Jan 8, 2021 The beverage is sweeter with a zero-calorie sugar called NCZ sweet, which is made from fermented sugarcane. Shark Tank Season 12 Episode 9 features the all-natural sports hydration drink startup, Electra. Why Did ShowNo Towels Shutdown? By the time the episode aired on January 8, 2021, wed changed the formulation based on customer tests and feedback. Fran explains its Not uncommon to change formulations in the food and beverage industry, or to improve a product in any industry., A post shared by Electra Beverages (@idrinkelectra), New episodes of Shark Tank air Fridays at 8 pm on ABC, right before 20/20 at 9 pm. It is a sports hydration drink brand with its current market value of US$ 15.2 billion in 2021 and by 2031 it could be US$ 25.5 billion. After retiring from basketball, Harris became a sales executive in consumer packaged goods for Proctor and Gamble. Necessary cookies are absolutely essential for the website to function properly. After Harris revealed that she was in the talks with two Hall of Famers as potential investors, Corcoran agreed to lower equity. Before debuting on Shark Tank , Fran Harris raised $40,000 from a WeFunder campaign and expects to sell enough Electra beverages to hit $30 million in the coming three years. Barbara put up $100,000 and a $250,000 line of credit in exchange for a 30% stake in the company. Electra Sports Drink What are the ingredients in Electra Sports Drinks? This allowed them to get started with the production and shipping of does not carry Electra, and Electra currently only sells powdery mixes through its e-store. They will be available in the spring of 2021. Save my name, email, and website in this browser for the next time I comment. Her strategy involves selling it both in stores and directly to customers. Electra Sports Drinks net worth is a testament to the brands success in creating a unique product that caters to the specific needs of athletes and fitness enthusiasts. She has held the position of a chief executive officer at the advertising firm Fran Harris Enterprises, LLC since its inception in January 1995. The company also had a campaign on Indiegogo but interestingly, it only raised 72% of its $10,000 funding goal. She helped launch the company in early 2020 with an IndieGoGo campaign that raised $7212. The brand has managed to secure shelf space in major retail chains, supermarkets, and convenience stores, making its products easily accessible to consumers. Essential Startup Tools to Help You Launch in No Time, Top Free Invoice and Legal Documents Tool, How to write Startup Elevator Pitch with Examples. Electra is an all-natural sports hydration drink that contains vitamins, antioxidants, BCAAs, and electrolytes. Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below. Food & beverage. Is Electra Sports Drink still in Read on to find out what happened to the business after securing a deal with Barbara Corcoran on Shark Tank. Harris then chose this time to reveal that she is in talks with an NFL Hall of Famer and an NBA Hall of Famer.