PrepWell Academy Shark Tank Update | PrepWell Academy after Shark Tank
What is PrepWell Academy?
PrepWell Academy is an online resource for high school students that aim to guide them through the college admissions process.
This website and app help both students and parents on a guided path of self-reflection, discovery, and focused preparation.
PrepWell Academy, created by Phil Black, is a unique way to prepare high school students (and their parents) for the rigors of the college admissions process.
His one-of-a-kind program is delivered online and focuses on early preparation for students (freshman and sophomore year) interested in attending highly selective colleges (e.g., Ivy League, Stanford, MIT, etc.), military service academies (e.g., Naval Academy, West Point, etc.), and those seeking athletic or ROTC scholarships.
Who is the founder of PrepWell Academy?
PrepWell Academy, founded by Phil Black, is a unique way to prepare high school students (and their parents) for the rigors of the college admissions process.
PrepWell is Phil’s newest venture, and it assists “high-potential youngsters in preparing for the challenging college admissions process when it means the most.”
Preparation is a learned talent, according to Phil, and PrepWell aims to teach it as it applies to the college admissions process.
The online academy educates students what to do, when to do it, and how to do it as it relates to getting into college throughout their high school experience.
Teenagers, in general, do not plan ahead of time and frequently do not heed to parental counsel, but having Phil as a virtual mentor helps them to do what they need to do to be successful.
The curriculum and methodology also teaches lifetime skills such as planning and preparedness. The advice concentrates on getting into top colleges such as the Ivy League, military academies (Phil’s expertise), and even athletic scholarships.
Both students and parents get access to all online content for $14.95 per month. There are 3-5 minute courses on topics such as guidance, reminders of deadlines, life skills, inspiration, and tasks.
Senior tasks will occasionally take more than five minutes. There is a free college admissions snapshot work sheet and training video available to assist parents determines if this is the right path for them.
What Happened to PrepWell Academy at Shark Tank pitch?
In episode 18 of Season 11 of PrepWell Academy on Shark Tank, Phil decided to take his business to the Shark Tank investors to help him with marketing and seed money.
Phil enters the pitch seeking for $100,000 for a 20% stake in his firm at valuation of $500,000. The Sharks are familiar with him and his remarkable resume. The Sharks are obviously disappointed when Phil discusses the company.
They don’t see how he can expand the firm to the point where it’s profitable enough to invest in. Lori Greiner was the first Shark to remark on the product, saying that it is difficult to convince people to buy it and that it would take a few of months before she goes out.
Robert Herjavec was the second Shark to exit the deal after pointing out that the minimum number of users was 220 and wishing the best.
Daymond John claims that many people are difficult to adapt and change, even when it is in their best interests to do so, and he goes out.
Mark Cuban believes that Phil did the proper steps, but that the product itself is difficult to scale, and that they should have a lot of demonstrations and experiences, as well as involving parents for a $15 subscription, and he also goes out.
Kevin O’Leary says Phil is a really great person with really bad ideas, but because of the country’s service and a great family, he will invite him back with something better and he goes out. Phil and his family eventually left the pitch without a deal.
What Happened to PrepWell Academy after Shark Tank?
Despite the fact that Phil did not get a sale during the pitch, he is still growing the firm. His social media following is gradually rising, and he continues to send out daily podcasts and emails to pupils.
Phil is still going strong as of December 2021. The company’s yearly sales exceed $900,000.
Competitors of PrepWell Academy
There are several competitors in the field of education. Some companies that have the same idea as PrepWell Academy includes; 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 their service which might have made the company net worth to 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.