GRIND Basketball Shooting Machine Shark Tank Update | GRIND Basketball Shooting Machine after the Shark Tank Pitch
What is GRIND Basketball Shooting Machine?
The Grind Machine is the first portable shooting machine in the world. It returns the ball to the shooter automatically and even catches failed shots.
Its packaging is remarkable, collapsing to the size of a big duffel bag in less than 90 seconds.
This pneumatically propelled shooting machine may be installed beneath any basketball goal.
The Grind shooting machine spins 190 degrees and distributes the ball to five different spots on the court, allowing you to practice like a professional player.
Thomas Fields is the founder and CEO of Grind. He grew up always aspiring to be an NBA player in order to improve his family’s level of life.
His father and mother earned a living by working early morning and night shift jobs.
Fields’ objective was to perform academically in order to earn a scholarship and enter the NBA, but he was unsuccessful.
Today, he founded Grind, the world’s first consumer-oriented portable shooting machine.
Fields might go to the gym as early as 5 a.m. for access to the school’s $6,000 shooting machine for the love of the game.
This was around two hours before the start of the school day for kids.
Because his family could not afford such a gadget, he needed to devise a plan of escape.
Fields began sketching a design for a shotgun capable of quenching his appetite for bullets.
He became increasingly absorbed in it, to the point where he became obsessed with locating the solution.
He founded a firm for $15,000 to manufacture the Grind shooting machine.
The device was introduced on March 1, 2020, and the firm sold $215,000 worth of units in five months.
Who Founded GRIND Basketball Shooting Machine?
Thomas Fields founded Grind basketball shooting machine.
What happen to GRIND Basketball Shooting Machine at the Shark Tank Pitch?
Grind Basketball has already sold $215,000 in shooting machines through pre-sales in less than five months on the market. With the manufacture and distribution of items,
The Grind Machine is priced at $1,795.00 and offers payment options.
Fields approached the tank wanting $250K in exchange for a 5% share in his business. This indicates a $5 million valuation.
Although the Sharks admired his enthusiasm and dedication, Lori Greiner, Kevin O’Leary, and Alex Rodriguez withdrew their interest because they believed GRIND did not match their portfolio.
However, Barbara Corcoran, was eager to make an offer and close a deal with Fields.
The issue was that she had little to no knowledge of sports and need assistance from someone like fellow Shark Mark Cuban.
As a result, Barbara and Mark formed a partnership and made an offer of $250K in exchange for a 30% ownership in the firm.
While Fields was overjoyed to have Mark as his Shark, he was not prepared to go with so much equity, and thus requested that the Sharks rethink their offer.
Mark and Barbara then revised their offer to $250K for a 25% interest, this equates to $1 million valuation.
Although Fields was first apprehensive, he finally accepted their offer and concluded the sale.
GRIND Basketball Shooting Machine after the Shark Tank Pitch
Since the episode aired on Shark Tank, the first batch of pre-orders has been fulfilled, with the second batch scheduled to arrive in Summer 2021, followed by a third fulfilment in Fall 2021.
Thus far, the GRIND Machine has received favourable reviews.
Some call it the finest investment they’ve ever made, while others refer to it as a game changer. Additionally, GRIND now offers additional goods such as shirts, sweatshirts, and shorts through its online store.
GRIND Basketball Shooting Machine Net Worth.
Fields approached the tank wanting $250K in exchange for a 5% share in his business. This indicates a $5 million valuation.
He accepted an offer from Mark and Barbara of $250K for a 25% interest, this equates to $1 million valuation.
GRIND Basketball Shooting Machine Competitors
Unknown.
GRIND Basketball Shooting Machine FAQS
Did GRIND basketball get a deal on Shark Tank?
This former high school basketball standout built a portable shooting machine that garnered a significant investment from Mark and Barbara on Shark Tank.
Who is the owner of GRIND basketball?
Thomas Fields, 26, founded the sports equipment firm GRIND.
What is the value of grind basketball?
Thomas Fields accepted a $250,000 offer from Mark and Barbara for a 25% ownership in their firm, which is valued at $1 million.
Which episode was GRIND basketball featured?
The episode GRIND Basketball was aired on May 07, 2021.
How much money did the owners of grind basketball make from shark tank?
Thomas Fields accepted a $250,000 offer from Mark and Barbara for a 25% ownership in their firm.
How do they make money?
They make money by selling The Grind shooting machine, t-shirts, and shorts.
Why did they need to do this show?
The company was in its infancy and needed capital to expand their reach.
What has happened since the show?
Since the airing of the episode, the company is in the process of fulfilling orders for pre-sales.
Where can they buy GRIND Basketball Shooting Machine?
It is a portable shooting machine that can be purchased through their online page.
How much does grind basketball make?
The firm makes $215,000 in pre-sales in less than five months on the market.
What is the weaknesses of GRIND Basketball Shooting Machine?
The product does not have any patent.
Where are they Located?
GRIND Machine is located at California, United States.
What is their website address?
GRIND Machine website address is www.GrindMachine.com
Is the GRIND machine self-rotating?
No, the GRIND machine is manually rotated and travels through five locations on the court (top of the key, free throw line extended, both corners).
On the base, a little lever is utilized to alter the location of the spots.
How is the GRIND shooting machine powered?
The GRIND Machine is currently powered by a regular electrical outlet in the United States and does not include a battery. A third party will need to acquire an extension cable.
What is the weight of the GRIND machine?
The GRIND Machine weighs around 110 lbs. It collapses into a duffel bag on two wheels for convenient transport and storage.
When moving the GRIND Machine in their car, loading and unloading may require the assistance of two individuals.
Is the GRIND machine weather-sensitive?
Yes, the GRIND machine has electrical components that should be protected from rain, sleet, and snow.
What is the price of the GRIND machine?
The GRIND Machine is priced at $1795 including tax and delivery.
Is it possible to cancel their order?
Yes, GRIND will reimburse their purchase if they need to cancel their order before to shipment. It may take up to ten business days for a refund to be applied to their account.
Why is the GRIND Machine taking so long to ship?
GRIND is a new company, and they require pre-orders before they can begin manufacturing. Once they obtain a sufficient number of pre-orders, they may begin producing the devices.
Can they return my GRIND machine once it has been received?
Yes, GRIND offers a 30-day return policy that begins the moment their machine is delivered. If they are dissatisfied with their purchase, they may return it for a full refund.
After 30 days, they will be liable for shipping costs and a $200 restocking charge will be withheld from their refund.
Please take up to 5-10 business days for them to check the equipment and process their refund.
Can they get my GRIND machine sooner than the expected delivery time?
All pre-orders for Batch 2 will be fulfilled in the summer of 2021.
All pre-orders for Batch 3 will be fulfilled in the fall of 2021.
Batch 4 is scheduled to ship in the spring of 2022.
Due to the fact that GRIND has invented a novel product, production and logistics must be established and finished.
What is the maximum number of balls that the GRIND machine can hold?
At the moment, the GRIND machine is only capable of processing one ball at a time. They have a “No Standing Rule,” which states that they must move while waiting for the next pass.
