Electra Sports Drinks Shark Tank Update | Electra Sports Drinks after the Shark Tank
What is Electra Sports Drinks?
Electra is a sports nutrition business. Their rehydration drink is available in three different flavours: Passion Punch, Litty Lemonade, and Oh Yeah Orange.
It is intended for athletes as well as the ordinary on-the-go individual, and it contains a variety of important vitamins, minerals, and electrolytes.
It also has very little sugar or sweeteners.
Who is the Founder of Electra?
Fran Harris, a former WNBA player in the United States who also played professionally in Switzerland, founded the firm.
She graduated from the University of Texas and has worked as an ESPN analyst and college basketball coach.
In addition to supervising Electra, she also offers motivational speaking, mentorship to players and coaches, and sports facility building recommendations through her trading firm Fran Harris Enterprises, LLC.
Harris, Fran She led the University of Texas to an NCAA championship in 1986 and went on to play with the Houston Comets, who won their first WNBA title in 1997.
Harris, like other athletes, drank sports beverages throughout her collegiate and professional basketball careers.
She was fed up with being frustrated by the nutritional label of the popular sports drinks she’d been urged to consume, which left her feeling lethargic and did little to help her recuperate.
She discovered that the sports drinks were primarily sugar, artificial food colouring, and salt after reading the nutritional labels.
Fran Harris founded Electra to give a better hydration option to major sports drink brands for “daily doers, hustlers, and athletes,” according to the company’s website.
She assisted in the company’s early 2020 debut with an IndieGoGo campaign that raised $7212.
Harris is no stranger to television. She has appeared as a life and business counsellor on Good Morning America, Today, CNN, CNBC, and MSNBC, in addition to playing competitive collegiate and professional sports on TV.
What happen to Electra Sports Drinks at the Shark Tank Pitch?
Fran appears on Shark Tank Season 12 Episode 9 in search of $350,000 for a 20% stake in her company. This equates to a $1.75 million valuation. Fran presents herself, the product, and distributes samples.
The Sharks like it, but there are numerous concerns about how tough it is to get into the beverage industry.
Fran has almost no sales because her firm is still in its early stages.
Shark Barbara Corcoran requested a summary of Harris’ plans for the $350,000 investment.
Harris said that around $30,000 will be spent on inventory, $25,000 on research and development, and the remainder on logistics, sales, and marketing.
The only Shark that made a bid for Electra was Barbara Corcoran. Corcoran offered $100,000 cash and a $250,000 line of credit in exchange for 40% equity.
Shark Mark Cuban praised Electra’s flavour and composition.
“The potassium content is excellent for the number of calories.” Mark Cuban’s current relationship with another sports drink firm, on the other hand, prevents him from investing in competitors.
Shark Lori Greiner told Harris how much she admired her candour and self-assurance. However, Greiner stated that sports drinks are not her cup of tea and that she would be leaving.
“There is no data on sell-through here,” Mr. Wonderful, who was sceptical, said.
“Belief isn’t enough.” Shark Daymond John agreed and left as well.
This resulted in Shark’s departure. Barbara Corcoran, who discussed her prior engagement with a beverage firm, in which she lost her investment in a month. She then presented her offer of $100,000 in cash up front plus a $250,000 line of credit in exchange for a 40% share in the firm.
Harris then selected this moment to declare that she is in negotiations with both an NFL Hall of Famer and an NBA Hall of Famer.
Both were eager to use their influence to promote their product and invest in the firm. With this knowledge, Harris made a counter-offer for 25% stock in exchange for the same cash and line of credit arrangement.
“I’ll give you 30% if you bring both huge fish in with us.” If not, all bets are off,” Corcoran said.
Corcoran agreed to cut equity after Harris revealed that she was in contact with two Hall of Famers about prospective investors. Fran Harris accepted the invitation gladly and danced her way out of the Tank.
Yes, Fran Harris of Electra opted to collaborate with Barbara Corcoran. Corcoran provided $100,000 in cash and a $250,000 line of credit in exchange for 30% equity.
“I know I’ll keep winning with Barbara on board,” Harris remarked.
Electra Sports Drinks after the Shark Tank
This episode was re-aired for the first time barely two months after it initially aired. There is no sign that the transaction has closed, and the company has not been listed on Barbara’s website, although they may still be in due diligence.
This new commercial has been released since it first aired.
The contract with Barbara looks to have fallen through as of July 2021. Electra is only sold on the company’s website and is not accessible in any retailers.
Electra Sports Drinks Net Worth
She accepted an offer from Barbara of $100,000 Cash + $250,000 Line Of Credit For 30% Contingent on Securing Partnership with Influencer thus bringing valuation to be $333,333.33.
Electra Sports Drinks Competitors
Mountain Berry Blast Xion 4, Mountain Berry Blast Powerade, Mixed Berry Powerade and
Fruit Punch Powerade functions like Electra Sports Drinks.
Electra Sports Drinks FAQS
What is Electra Sports Drinks?
Electra Sports Drinks is a new sports drink beverage on the market. They provide a tasty and refreshing alternative to traditional sports beverages that helps with hydration while encouraging healthy living.
Who is the founder of Electra Sports Drinks?
Fran Harris is the founder of Electra Sports Drinks.
How much was she asking in the Shark Tank?
Fran Harris was asking for $350,000 for 20% equity in Electra Sports Drinks.
Did she get the deal from the Sharks?
Barbara Corcoran was the only Shark that made a bid for Electra. She offered $100,000 Cash + $250,000 Line Of Credit For 30% Contingent on Securing Partnership with Influencer.
Is Electra Sports Drinks still in business?
The company is still in operation, with headquarters in Austin, Texas, and a modest full-time personnel complement.
Customers who are thirsty can acquire its items for shipment immediately from their website and participating stores. They also sell a variety of branded clothing.
What are the ingredients in Electra Sports Drinks?
Contains only all natural juices and extracts. No artificial ingredients, no high-fructose corn syrup (HFCS), no refined sugars, and no salt in any of their flavours.
Who owns the Electra beverage?
When Dallas entrepreneur Fran Harris went out under the spotlights of ABC’s famous show ‘Shark Tank,’ she was searching for an investment to help her CPG firm Electra Beverages get off the ground.
Harris, a former WNBA player, founded the Dallas and Austin-based healthy sports drink company this autumn.
Why did you use watermelon and coconut water?
Aside from its hydrating capabilities, they discovered that by combining them, they made Electra stronger in taste and recovery.
What forms of payment do you accept?
All pricing are in US dollars. They are now only shipping to the United States (not including Alaska or Hawaii).
What episode was Electra Sports Drinks aired?
Electra Sports Drinks was aired season 12 episode 9.
Are they tasting vitamins?
They certainly are! Electra contains vitamins B, C, and D, as well as antioxidants, often known as “free-radical scavengers,” which assist in the prevention of inflammation and other health issues such as heart disease.
How many calories does Electra have?
Can they believe a 16-ounce bottle of Electra contains just 60 calories, 9 grams of sugar, and NO added sugars?
What is the shelf life of Electra?
They recommend that you consume it within 3-4 days of opening it. Bottles that have not been opened have a shelf life of 12 months. The “best by” date is printed on the bottle’s cap.
How many servings are there in a bottle of Electra?
One serving is contained in each 16oz bottle of Electra.
Is Electra available in powder form?
Yes, they are finalizing the powder formulae. They’ll like the ease of use of Electra powders. They will be available in the spring of 2021.
How should they keep Electra liquids?
That is entirely up to them, but a chilled Electra, like other hydration beverages, will never let them down. Don’t forget to give it a good shake before serving. Please keep refrigerated once opened.
Are Electra bottles recyclable and BPA free?
Yes, they are highly concerned about the environment. Please look at recycling programs in their area.
Is Electra safe to use while pregnant or nursing?
There have been no studies on pregnant or nursing women. According to a research on healtline.com, it is safe for children, pregnant women, and breast-feeding mothers.
They are retailers who wants to carry Electra, how do they connect?
Please contact [email protected] and they will respond as quickly as possible.
What is net worth of Fran Harris?
Fran Harris’s net worth is $1 Million.