What Happened to Fitness Stride After Shark Tank?
What is Fitness Stride?
Fitness Stride was a company that made exercise bands that allowed people to incorporate training and exercises into everyday jobs like cleaning or lawn mowing.
Using hook and eye technology, two straps are connected to the band around each leg. When the bands between the straps are stretched, they produce resistance while the user walks.
Stacy Erwin founded Fitness Stride. He found a way to include his workout program into his schedule while in college, despite the fact that it was both pricey and time-consuming.
As a consequence, he created a gadget that allows users to complete other chores while still fulfilling their fitness objectives without requiring them to sacrifice exercise time.
Who is the founder of Fitness Stride?
Fitness Stride was founded by Stacy Erwin. Stacy Erwin has always been interested in physical activity, but he found it difficult to incorporate it into his college schedule. He’s looking for an easy and cost-effective way to manage training programs while keeping a busy schedule.
He devised the idea of adding resistance to his regular activities by connecting two rubber bands to each leg. This was the motivation for the Fitness Stride, which would allow users to get resistance while sitting at a computer or doing housework.
What Happened to Fitness Stride at Shark Tank pitch?
On Shark Tank episode 203, Stacy Erwin pitches her Fitness Stride workout bands in the hopes of landing a contract.
Erwin entered the Shark Tank seeking $140,000 in exchange for a 15% stake in his company, which was valued at $933,333.
He walked into the Shark Tank filled with bravado and self-assurance. He claims that his product would cure childhood obesity, relieve lower back pain, and tone and firm various muscle groups.
Erwin gives samples to the Sharks after demonstrating how the product works with a few of models. “I have something special for you, Baby girl,” he tells Barbara Corcoran, drawing laughter from the Sharks.
In order to test the product, he enlists the help of Kevin O’Leary, Robert Herjavec, and Daymond John. Barbara Corcoran and Kevin Harrington squeal with glee as they notice Herjavec and John sway slightly as they try to restore their balance with the bands.
The Sharks begin their job. Daymond John was curious about the company’s expansion. Erwin admits that his main challenge was marketing. To improve sales, he must spread the word about his products. Last year, he made $60,000 after selling $150,000 in items.
Daymond John questions his $900,000 valuation. Robert Herjavec was wondering about how he will get from $150,000 to more than a million dollars.
Kevin Harrington was gathering testimony. Erwin claimed that one man lost 150 pounds by utilizing the bands.
The product, according to Kevin O’Leary, is a “marketing catastrophe.” He’s out. Robert Herjavec quits, citing the high cost of marketing.
The infomercial guy, Kevin Harrington, argues that the lack of testimonials is an irrefutable issue. Along with the other two Sharks, he exits.
Only two people survived: Daymond John and Barbara Corcoran. According to John, the price is too high, and the product is “too wealthy an investment.” He goes out.
Barbara Corcoran believed in Erwin’s hustling but not in his product. The final Shark left the stage, and Erwin left without a deal.
What Happened to Fitness Stride after Shark Tank?
Failure on Shark Tank isn’t always a death sentence for a product, but in this case, it appears that Erwin’s product was kept off the shelves due to a lack of funding.
There are several equivalent goods on the market, and Erwin was unable to sell the Sharks or keep Fitness Stride afloat without a patent or proof of the practicality of his claims.
Fitness Stride’s website and social media pages are closed and dark, and the company has gone out of business.
Competitors of Fitness Stride
Resistance bands are manufactured by a variety of firms, the majority of which are geared for yoga or other types of exercise. Two of these companies are Bellicon and Tone Fitness Trainer.
Net Worth of Fitness Stride
The company value was $933,333 during and after the pitch; however, the firm has since gone out of business, therefore the company net worth is unavailable.
Fitness Stride FAQs
What exactly is Fitness Stride?
Fitness Stride was a firm that allowed its consumers to do a variety of workouts while doing other things around the house. It is portable and may be used by anybody, from youngsters to the elderly.
Who was the inventor?
Stacy Erwin, the inventor of Fitness Stride, is a business owner. He attempted to include a workout program into his usual schedule, and that’s when he came up with the idea of adding resistance to his activities by utilizing two rubber bands. It quickly became one of the most sought-after fitness bands.
How much did Stacy ask for on Shark Tank?
Stacy was asking $140,000 for a 15% stake in his firm, which was worth $933,333.
Did Stacy have the deal during the pitch?
No, Stacy did not have the agreement during the Shark Tank Pitch.
Is Fitness Stride still in operation?
Unfortunately, Fitness Stride is no longer in operation.
Where could I find Fitness Stride?
The firm is based in San Jose, California.
How did Fitness Stride perform?
Two resistance bands are fastened to each leg to provide resistance while the user performs other duties at work or at home.
Was Fitness Stride a scam?
Fitness Stride was not a scam. It was a fantastic idea, but it fell short during the Shark Tank pitch, and the company went out of business owing to a lack of finance.
What was the price they pitched at on Shark Tank?
They pitched on Shark Tank with a valuation of $933,333.
How did Fitness Stride earn money?
Fitness Stride generates money via selling items and advertising.
What payment options did Fitness Stride accept?
Fitness Stride accepted both cash and credit cards.
What material were the fitness bands made of?
The bands used to strengthen and tone muscles were composed of rubber and came with a battery pack that powered the band when it wasn’t in use. If the user had a short case, the bands were powered by batteries.
Was it safe to use Fitness Stride?
They stated that their product was safe to use, and that it could be used safely under supervision.
Was there an app for Fitness Stride?
No, they didn’t have an app.
Who was Fitness Stride’s intended audience?
The Fitness Stride was designed for folks who wished to keep active and healthy.
How many Amazon reviews has Fitness Stride received?
On Amazon, there are no reviews for Fitness Stride.
What was Fitness Stride’s business model?
Fitness Stride’s business approach was to promote a product that could be utilized by everyone at any fitness level.
How long did it take Fitness Stride to get the proper price?
The correct price was obtained over the course of a year, and the company went out of business following the launch of Shark Tank.
How much does Fitness Stride cost?
There is no pricing information available for Fitness Stride.
Is it still possible to acquire Fitness Stride?
No, you can’t acquire this fantastic product or firm any longer since they went out of business after Shark Tank.