PrepWell Academy Net Worth
Prepwell Academy has a net worth of $1 million as of 2022. The company earns $500,000 in revenue every year. Its founder is Phil Black, and the company provides online resources for high school students to guide them with college admissions.
What is PrepWell Academy and Who is the founder of PrepWell Academy?
PrepWell Academy is an online resource designed to assist high school students with the college admissions process. Created by Phil Black, this website and app provide guided self-reflection, discovery, and preparation for both students and parents.
The program focuses on early preparation for students in their freshman and sophomore years who are interested in attending highly selective colleges, military service academies, or those seeking athletic or ROTC scholarships.
Phil Black founded PrepWell Academy to help high-potential youngsters prepare for the challenging college admissions process.
The program teaches preparation as a learned talent and educates students on what to do when to do it, and how to do it as it pertains to getting into college throughout their high school experience.
PrepWell Academy teaches students life skills such as planning and preparedness, and the advice concentrates on getting into top colleges, including Ivy League schools, military academies, and athletic scholarships.
The program is available for $14.95 per month, and students and parents have access to all online content, including guidance, reminders of deadlines, life skills, inspiration, and tasks.
PrepWell Academy also provides a free college admissions snapshot worksheet and training video to help parents determine if this is the right path for them. Phil Black’s program serves as a virtual mentor, helping teenagers plan ahead and be successful in the college admissions process.
PrepWell Academy Shark Tank pitch
During an episode of Shark Tank, Phil Black presented PrepWell Academy and asked for $100,000 in exchange for a 20% stake in his business with a $500,000 valuation. However, the Sharks expressed their doubts about the potential profitability of the company, and one by one, they declined the offer.
Lori Greiner, Robert Herjavec, Daymond John, Mark Cuban, and Kevin O’Leary all passed on the deal. Although Phil did not secure a deal during the pitch, he continues to grow the business through daily podcasts and emails to students, and his social media following is gradually increasing.
As of December 2021, PrepWell Academy has yearly sales exceeding $900,000, and Phil is still actively running the company.
Competitors of PrepWell Academy
There are several competitors in the field of education. Some companies that have the same idea as PrepWell Academy include; WizIQ, Acadeo, and Skilljar.
Net Worth of PrepWell Academy
The company valuation was $500,000 during the pitch, since then the company has been selling its service which might have made the company’s net worth increase.
PrepWell Academy FAQs
What is PrepWell Academy?
PrepWell Academy is a virtual training program for college-bound high school students and their parents. The site offers lessons and advice on topics ranging from the college admissions process to time management skills.
The site is run by Phil Black, who has worked in the U.S. Department of Education, as a corporate trainer and with students at Princeton and Harvard University.
Who is the founder?
The founder of PrepWell Academy is the CEO and co-founder of the business. It is Phil Black, a military veteran and former aide to Senator Joseph Lieberman (I-CT).
How much was asking on Shark Tank?
Phil was asking for $100,000 for 20% stake of his company.
Did he get the deal?
No, he did not have the deal.
Is PrepWell Academy still in business?
Yes, it is still in business and it is being run by Phil, he still continued to grow his business by sending out emails and posting videos.
How do the classes go?
The lessons are usually divided into five categories: guidance, reminders of deadlines, life skills, inspiration, and tasks. Most classes are completed in 3-5 minutes. Some “projects” will take longer to complete throughout junior and senior year.
What is the price?
The monthly fee for the online plans is $14.95. Individual 1:1 mentoring (pay-as-you-go) and “private mentoring” alternatives are also available.
Will this program meet all of my college-preparation requirements?
Yes, PrepWell Academy includes all that child needs to know to be well-prepared for college. However, there are certain areas where students seek extra and supplemental assistance, such as college essay revision services, standardized test prep workshops, and financial aid guidance.
They present a list of recommended partners that provide excellent value for these extra services. Many of these services are provided by them.
What is the policy on cancellations?
Users have the option to cancel your Plan at any moment.
Will I be able to access the lessons?
Yes. Users will be given their own login and password to access all of the lessons in “Their Locker” as a parent.
This access is empowering because it tells them where they are in the process and gives them an occasion to talk to their son or daughter about how things are going.
Is there an “app” for PrepWell Academy?
Yes. They just released a PrepWell app that allows PrepWell to access their video courses with the click of a single button.
There will be no more log-ins, passwords, or portals. This makes it incredibly easy to engage with the information, which is very important for today’s teenagers.
Isn’t all of this covered by my child’s high school guidance counselor?
Guidance counselors are theoretically responsible for offering answers and/or resources linked to the college preparation process.
Even at well-resourced high schools, even the finest guidance counselors just do not have enough time in the day to give the sort of timely, relevant, and actionable information required by today’s varied student populations.
When would be the greatest time for my child to start school?
The sooner you start the better. The earliest a student may enroll in PrepWell Academy is after completing eighth grade. This is an excellent moment to begin since it allows for a steady flow of information and awareness.
Is this program intended for my child or for me?
It all depends. The classes are intended for their child, but many parents watch along to see what’s going on. Users will be able to keep engaged in the process and evaluate if their kid or daughter is staying on track or drifting if they stay in the loop.
What is the net worth of Phil Black?
Phil Black net worth is over $2 million.