Terra-Core Shark Tank Net Worth 2023
After the initial pitch of Terra Core, they were valued at $2 million. Thanks to Lori’s investment in the company, their valuation decreased to $1.3 million.
Nevertheless, the company’s annual revenue in 2021 was a healthy $500,000 which increased its net worth to $2.5 million by 2022. With such growth and success, Terra Core is certainly set to become a profitable venture in the coming years.
What is Terra-Core? Who is the founder of Terra-Core?
Terra-Core is a system designed to improve functional fitness, core stability, and physical alignment by focusing on core strength training. This stability trainer also doubles as a bench and is compatible with a wide range of fitness equipment, including dumbbells, kettlebells, medicine balls, TRX, and more.
Terra-Core’s creator, Greg Nigro, is a well-known figure in the fitness industry, having spent over 20 years in the field before founding Terra-Core. He gained a reputation as a fitness guru during his time as a Gold’s Gym franchisee, where he worked as an equipment salesperson, trainer, and consultant.
Built to commercial standards, the Terra-Core is rugged enough to withstand use in any home gym. It’s perfect for exercises such as crunches, planks, and training of abdominal, shoulder, and leg muscles.
Greg Nigro, originally from Kansas City, Missouri, has been involved in the fitness industry for more than two decades. He established a reputation as a fitness expert as an equipment salesperson, trainer, and consultant while running a Gold’s Gym franchise before creating Terra-Core.
Those who knew him from an early age described him as energetic, and enthusiastic, with big ideas and a kind demeanor.
While working at Gold’s Gym, Greg started brainstorming ideas for a machine that could enhance workouts. This idea eventually led to the creation of Terra-Core. He currently lives with his family in Santa Monica, California, where he continues to work with celebrities.
Greg has extensive experience in the fitness industry, having worked as an equipment salesperson, trainer, and club consultant for over twenty years. After teaching for nine years in the fitness, health, and wellness industries about new technology and products, he decided to create his own fitness product.
In 2016, Greg successfully launched a Kickstarter campaign that raised $95,678 to kickstart his venture. He has since fulfilled his commitments and now sells his product for $199.00 on the company website and on Amazon.
Greg’s success has recently earned him recognition from the National Academy of Sports Medicine, which has invited him to create an instructional course on home gym design.
What Happened to Terra-Core at the Shark Tank Pitch?
Greg, who has had some success with his product, decides to offer his idea to the investors of Shark Tank in exchange for a partnership to begin certifying trainers and securing dealers. He joins the Tank with a proposal of $300,000 for a 15% stake in his $2 million company, with lifetime sales of $2.1 million since 2017.
The Sharks are impressed with Greg’s margins, which he achieves by manufacturing his product for $73 and selling it for $199. He is looking for a Shark to help him expand his consumer and worldwide marketplaces.
During the evaluation, Kevin asks Greg about his earnings for the year, and Greg reveals that he earned $850,000 in sales but broke even. He forecasts $1.4 million in sales and a profit of $200,000.
When asked about the status of his patent, Greg informs Lori that he owns a design patent and has a pending utility patent.
Daymond makes the initial offer of $300,000 in exchange for 40% equity shares, which Kevin refers to as “savage.” However, Kevin offers $300,000 for a 15% stake in exchange for a royalty of $20 per unit. Greg is initially taken aback by Kevin’s royalty demand, but Kevin assures him that the fee would be waived after he earned $1 million.
After some discussion, Daymond advises Greg to counteroffer, but Greg returns with an offer of 20% equity shares, believing 40% equity to be too high.
Lori suggests that Greg could be successful with an infomercial and makes an offer of $300,000 in exchange for a 22.5% stake in the company. Daymond reiterates his counteroffer of $300,000 in exchange for 30% equity shares.
Anne then steps up with an offer of $300,000 for 17% equity shares but demands a perpetual rate of $10 per unit. Kevin tries to contrast his offer by claiming that his royalty would expire someday.
In the end, Greg is not pleased with the concept of providing royalties and chooses Lori’s offer of $300,000 for 22.5% equity shares, agreeing that it is a reasonable deal.
Terra-Core Shark Tank Updates
Terra-Core is a commercial-grade balance trainer and exercise program that was pitched on Shark Tank in season 11 by Greg Nigro. The product is an all-in-one balance trainer that allows users to do CrossFit exercises, steps, crunches, push-ups, balance training, and more.
Terra-Core raised $95,000 on Kickstarter and had sold $2.1 million since its launch before appearing on Shark Tank. Greg Nigro was seeking $300,000 for 15% of the business. Lori Greiner made a deal with Greg Nigro for $300,000 for 22.5% equity.
After the episode aired, Terra-Core’s sales rapidly increased, giving the company the financial boost it needed to develop. Terra-Core generated more than $500,000 in annual revenue in 2021 and $1.4 million in 2022.
The company’s social media grew more than tenfold since its appearance on Shark Tank, with over 80k followers in 2022. Terra-Core was also mentioned in several large news websites such as Men’s Health Magazine and The Wall Street Journal.
In July 2021, Terra-Core was doing around $500,000 in annual revenue. By July 2022, the business posted annual revenue of $1.4 million. Terra-Core’s net worth increased from $2 million to $2.5 million by 2022.
The company is still operational and generating revenue, and Greg Nigro wants to start certifying trainers and securing people that want to be dealers. The goal is to have Terra-Core fitness classes all over the country.
Terra-Core and Its Shark Tank Pitch
| CATEGORY | INFORMATION |
| Product | A stability trainer that doubles as a bench and enhances core strength training |
| Founder | Greg Nigro, a fitness expert with over 20 years of experience in the industry |
| Valuation | $2 million before Shark Tank pitch; $1.3 million after Lori’s investment |
| Revenue | $500,000 in 2021; $2.5 million net worth in 2022 |
| Shark Tank Pitch | Greg asked for $300,000 for a 15% stake in his $2 million company, with lifetime sales of $2.1 million since 2017. Lori invested $300,000 for 22.5% equity. |
| Updates | After the Shark Tank episode aired, Terra-Core’s sales rapidly increased, giving the company a financial boost. |
Competitors of Terra-Core
The BOSU Balance Trainer is Terra-Core’s major competitor.
Net Worth of Terra-Core
During the pitch, the company was valued at $2 million, and after Lori invested in the company valued at$1.3 million. Similarly, the company has annual revenue of $500,000 in 2021, thus making the company’s net worth increase.
Terra-Core FAQs
What Is Terra-Core Shark Tank?
Terra-Core is a commercial-grade balance trainer and exercise program that was pitched on Shark Tank by Greg Nigro in season 11.
The Terra-Core is an air-filled workout surface that can be used for hundreds of workouts, including strength, balance, cardio, sculpt, prenatal, postpartum, and yoga.
The Terra-Core is designed to increase muscle activation during a wide range of exercises, making workouts more productive. The Terra-Core comes with a free workout app that provides exercise charts and advanced exercise tutorials.
Greg Nigro started Terra-Core in 2015 with a Kickstarter campaign that raised $95,678 in 30 days with an original goal of $60,000. Since its launch, Terra-Core has sold $2.1 million.
In Shark Tank, Greg Nigro sought $300,000 for 15% of his company. Lori Greiner made a deal with Greg Nigro for $300,000 for 22.5% equity. After the episode aired, Terra-Core’s sales rapidly increased, giving the company a financial boost.
Terra-Core is an all-in-one balance trainer that allows you to do CrossFit exercises, steps, crunches, push-ups, balance training, and more. The Terra-Core is a versatile balance trainer that can be used for various fitness exercises.
The goal of Terra-Core is to expand the consumer and international markets and have Terra-Core fitness classes all over the country.
How Does Terra-Core Shark Tank Work?
Terra-Core is a commercial-grade balance trainer and exercise program that was pitched on Shark Tank by Greg Nigro. It is an all-in-one balance trainer that allows users to do CrossFit exercises, steps, crunches, push-ups, balance training, and more.
The Terra-Core Fitness surface is an air-filled workout aid that is engineered to increase muscle activation during a wide range of exercises. It guarantees to increase workout productivity by four times since the product’s surface is unsteady and will engage core muscles.
The Terra-Core is designed to work by itself or with resistance bands, dumbbells, kettlebells, medicine balls, TRX, and all other fitness accessories.
Greg Nigro entered the Shark Tank seeking $300,000 for 15% of the business. He had been selling the product since 2017 and had $2.1 million in lifetime sales. The Sharks were impressed by his margins: he makes them for $73 and sells them for $199. Lori Greiner made a deal with Nigro for $300,000 for 22.5% equity.
After his appearance on Shark Tank, Nigro started working on improving the company. Terra-Core’s sales rapidly increased after the episode aired, which gave the company the financial boost it needed.
Terra-Core offers on-demand classes and plank games, with over 200+ workouts including strength, balance, cardio, sculpt, prenatal, postpartum, yoga, and more.
What Happened To Terra-Core After Shark Tank?
Terra-Core is a commercial-grade balance trainer and exercise program that allows users to perform various exercises, including CrossFit exercises, steps, crunches, push-ups, and balance training. The company appeared on Shark Tank in season 11, seeking $300,000 for 15% equity.
The Sharks were impressed with the product and the company’s sales, which were $2.1 million at the time of the pitch. Lori Greiner made an offer of $300,000 for 22.5% equity, which was accepted by the founder, Greg Nigro.
After the show, the deal with Lori did not close, and Greg had to find other investors. However, Terra-Core’s sales rapidly increased after the episode aired, which gave the company the financial boost it needed to develop.
As of August 2020, the company is still in business, generating around $500,000 in annual revenue. By July 2022, the company’s annual revenue had increased to $1.4 million, a significant jump of $900,000 over the course of one year.
Terra-Core is expected to “profit” $850,000 in 2023 but will break even. The next year, the company anticipates revenue of $1,400,000 and profit of $200,000.
In conclusion, Terra-Core is still operational and doing well after appearing on Shark Tank. Although the deal with Lori did not close, the company’s sales increased significantly after the episode aired, and it is generating around $1.4 million in annual revenue as of 2022.
The company is expected to continue growing and become a profitable venture in the coming years.
Is Terra-Core Shark Tank Still In Business?
Yes, Terra-Core is still in business as of 2023. The company was featured on Shark Tank in November 2019, where Greg Nigro pitched his commercial-grade balance trainer and exercise program.
He was seeking $300,000 for 15% of the business and ultimately made a deal with Lori Greiner for $300,000 for 22.5% equity.
However, the deal with Lori did not close following months of negotiations. Despite this setback, Terra-Core continued to operate and generate around $500,000 in annual revenue.
In fact, Terra-Core has been doing very well for itself in recent years. The company reported $1.4 million in annual revenue in 2022, which is a significant increase from the $500,000 reported in 2021.
Terra-Core has been generating more than $500,000 per annum and is expected to “profit” $850,000 this year but will break even. The next year, the company anticipates revenue of $1,400,000 and profit of $200,000.
Terra-Core is a versatile, air-filled workout surface that can be used for hundreds of workouts. It is an all-in-one balance trainer that allows users to do CrossFit exercises, steps, crunches, push-ups, balance training, and more.
The product is patented, comfortable, and has been well-received by customers. Terra-Core has been covered in several publications, including The Wall Street Journal and Men’s Health Magazine. The company’s competitors include BOSU Balance Trainer.
What Is The Current Valuation Of Terra-Core After Shark Tank?
Terra-Core is a small, air-filled surface that can be used for hundreds of workouts. The company appeared on Shark Tank in November 2019, where Greg Nigro, the founder of Terra-Core, asked for $300,000 for 15% equity.
Lori Greiner made a deal with Nigro for $300,000 for 22.5% equity. Terra-Core raised $95,000 on Kickstarter and has sold $2.1 million since its launch (two years before filming).
Terra-Core had been selling at $279 but will begin selling at $199 per device, which the sharks approved of. The landed cost from manufacturing in China, including tariffs, is $73 per unit, but Nigro thinks he can get that down to $45 per unit.
Terra-Core Fitness is projected to “net” $850,000 in the current year but will only break even. In the following year, the company is projecting $1,400,000 in sales with $200,000 in profit.
After the episode aired, Terra-Core’s sales rapidly increased, which gave the company the financial boost it needed to develop. The company’s social media grew more than tenfold since its appearance on Shark Tank, with over 80k followers in 2022.
Terra-Core was also mentioned in several large news websites such as Men’s Health Magazine, The Wall Street Journal, and more. Terra-Core reported $500,000 annual revenue in 2021 and $1.4 million in 2022. Terra-Core’s founder, Greg Nigro, has a net worth of $2.5 million as of 2022.
What is his offer o Shark Tank?
Greg was seeking for $300,000 for a 15% stake in a $2 million business.
Did get the deal?
Yes, Greg got a deal from Lori Greiner.
How much is the deal?
Lori Greiner offers him $300,000 for a 22.5% stake in the company but the deal was not closed.
Who are the company’s competitors?
BOSU Balance Trainer is Terra-Core’s primary competitor.
Which episode was featured on Shark Tank?
The Pitch in Season 11 Episode 8:
What happened to Terra-Core after Shark Tank?
It is still operational in 2021 and generates around $500,000 in annual revenue.
What is his secret to success?
Greg achieved success by creating a durable and safe product that offers the maximum benefits of stabilizing the spine during physical movement.
Why he was successful in Shark Tank?
Greg was successful in shark tank due to his great business ideas, positive attitude, and his passion.
How to contact him after Shark Tank?
One can contact Greg Nigro on the official website of Terra-Core.
What is the cost?
The product costs around $199 for two products at the time of the shark tank show.
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Are any Similar Products?
Yes, it has many similar products like Bosu Ball, BOSU Balance Trainer, EZ Flex Power Tower, and other Balance Trainers like Reebok Core Board.
What do you get in the Terra-Core?
First, there are three different models. The first is the T1, which is the basic Terra-Core machine. The second model is a T2 Minimums, which comes with a back extension platform and two resistance bands. The third model is called the T3.
What does Terra Core weigh?
The Terra Core weighs 28 pounds and measures 46 inches (117 centimeters) long, 17 inches (44 centimeters) broad, and 10 inches (26 centimeters) tall (13 kilograms).
How do I air my Terra core?
Users must inflate the Terra Core air bladder using the included two-way hand pump. Please keep in mind that the more air users inject into the surface, the more stable it becomes. If they add less air, it becomes much more reactive. Therefore, when you first begin, they want the surface to be firm but not too hard.
What is the net worth of Greg Nigro?
The net worth of Greg Nigro is unknown.
