Fitness Stride's Shark Tank Pitch Fails to Secure Investment
Fitness Stride, an innovative exercise band designed for busy adults, recently sought investment from the Sharks on Shark Tank. The product, created by entrepreneur Stacy Erwin, aims to help users burn calories while performing everyday tasks.
Erwin's Fitness Stride bands, manufactured in China for $10 each, retailed for $49.95 per set of two with varying resistances. The product, demonstrated by models, showed how it exerted pressure on leg muscles, aiding in calorie burn. Despite its potential, the Sharks were unconvinced by its effectiveness and marketing potential, leading to no deal.
In the past year, Fitness Stride generated $60,000 in revenue from $150,000 worth of sales. Erwin sought a $140,000 investment for a 15% stake in his business. However, after failing to secure a deal, Erwin's business unfortunately went out of business.
Fitness Stride, targeting busy adults and housewives, offered a convenient way to exercise while multitasking. Despite its potential, lack of investor confidence and subsequent business closure highlight the challenges faced by startups in the competitive fitness market.
Read also:
- Trump's SNAP reductions and New York City Council's grocery delivery legislation: Problems for city residents highlighted
- Reducing dental expenses for elderlies in Sweden: Over 50% cut in charges for pensioners by the government
- Forty-year-old diet: A list of meal choices to savor
- Exiled Life's Conundrum: A Blend of Liberation, Disillusionment, and Distress
