BollyX Dance Workout Update | Shark Tank Season 10
Entrepreneur Shahil Patel, pitched his unique workout program during
If you’re short on time, here’s a quick overview of what happened to BollyX after
Shahil Patel appeared on
| Shark: | Result: |
| Kevin O’Leary | No offer |
| Mark Cuban | No offer |
| Bethenny Frankel | No offer |
| Lori Greiner | No offer |
| Rohan Oza | No offer |
Shark Tank BollyX Update
- Entrepreneurs: Shahil Patel
- Business: Dance-based workout classes
- Ask: $375,000 for 8% equity
- Result: No deal
- Sharks: None
Shahil Patel’s mom wanted him to get more in touch with his Indian roots, so he going a Bollywood dance team in college. His passion for Bollywood dance eventually led to him creating the dance-based workout program BollyX.
His pitch began with a demonstration, then he invited the sharks to try it out for themselves. After just a couple of minutes, Lori Greiner said she could feel it working.
With a company based around a Bollywood-themed workout, Shahil told the sharks that he believes the company’s vision is positive and has the potential to bring in tons of revenue in the future. Kevin O’Leary wanted to know how many different locations featured the BollyX workout classes.
Shahil said that his company teaches about 500 classes per week across 350 different locations. The company currently licenses its workout class material to instructors, that can pay $20 per month to use the material in local gyms.
This low cost concerned guest shark Rohan Oza, and Mark Cuban. In response, Shahil pointed out that he has over 1100 monthly subscribers.
Rohan loves the Bollywood concept, as it also speaks to his own Indian roots. However, the subscription model was concerning because he didn’t feel like it was enough to justify the valuation of the company.
Shahil tried to reassure Rohan and the other sharks that his company was cash-flow positive, and had more than $1 million in sales over the course of the company’s 5-year lifespan.
He goes on to share that his vision is to build the largest Bollywood inspired fitness community. To reach this goal, he’s started to put out samples of his content on channels like Youtube, and his own BollyX website, through an on demand platform.
Additionally, he already has over 300 paying customers for those on demand classes, online. This costs the customer $9 a month.
Kevin O’Leary likes the idea of the on demand business model, because he’s seen it work. That said, he wants more specifics on the numbers.
Unfortunately, Shahil shared the fact that they lost $600,000 in the previous year. Then when he shared that he had to raise more than $1.7 million over the course of five years, things took a turn for the worse.
Mark Cuban couldn’t take the bad news, and dropped out because he couldn’t see himself making an investment.
Guest shark Bethenny Frankel says that Shahil needs to focus on one thing and do it well. But because she doesn’t see that happening, she’s out.
Kevin likes the concept, but he doesn’t agree with the valuation. For this reason, he is also out.
Lori also likes the program, but she doesn’t understand the business plan. She regrettably drops out as well.
This leaves only Rohan has Shahil’s hope for a deal. Although Rohan wants to get behind the company, he can’t economically justify it, so he is out too.
Does Shahil manage to find success despite not getting a deal on
Now let’s take a look at the BollyX update after
Today, classes are still available on demand through the BollyX website, or in person, in over 100 cities worldwide. Instructors teach the classes in various gyms, park districts, and dance studios.
Shahil is estimated to be generating between $4 million and $5 million per year. While he wasn’t able to secure a deal on
If we learn anything new about BollyX, we will certainly let you know. In the meantime, you can checkout our other company updates from Season 10 Episode 8, by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!