Leaux Racing Trikes Update | Shark Tank Season 7

Have you ever thought that trikes weren’t sporty enough? Ever wanted a racing or trick trike to impress your friends? Tyler Hadzicki wanted that, too. He created a race car and tricycle hybrid, the Leaux Racing Trike. This company had success on Kickstarter, but the lack of sales might make the sharks a little nervous on Shark Tank Season 7. Find out what they thought in our Leaux Racing Trikes update.

Shark Tank Leaux Racing Trikes Update

Leaux Racing Trikes Update

  • Entrepreneur: Tyler Hadzicki
  • Business: Race car and tricycle hybrid
  • Ask: $120,000 for 20% equity
  • Result: No deal
  • Shark: None

Tyler rode into Shark Tank on the back of his racing car and tricycle hybrid, his signature Leaux Racing Trikes model. Robert Herjavec tried it, followed by Mark Cuban and Kevin O’Leary. They rode around the studio before getting down to business. 

Tyler started the company as a result of his sixth-grade science project, which went on to win the science fair. Then, his trikes were made from different pieces of other bikes and trikes. However, the prototypes he displayed on his Kickstarter campaign were completely different. During this campaign, he had over 100 sales. 

Each bike sold for $350 and cost $180 to make, and he tested each trike personally. He wanted the $120,000 for 20% equity in his company to build a larger facility for making his trikes. At the time of filming, Tyler only had those first Kickstarter sales as proof of concept.

Barbara Corcoran was the first shark to go out. She thought it was too early. Kevin didn’t know how it was a business, so he went out. Lori Greiner, on the other hand, thought that inspecting each bike himself is way too time-consuming, so she went out too.

Mark didn’t think he’d sell many units on this model and wanted to know what was next. He loved the product but needed a bigger-picture view of the company. Unfortunately, Tyler wasn’t giving him one, so he went out. Robert went out too because he thought Tyler needed to figure out the product category. He also thought the bike was too cheap. 

This left Leaux Racing Trikes without a deal. Where is the company now? Find out in our Leaux Racing Trikes update. 

Unfortunately, research for our Leaux Racing Trikes update revealed bad news. We found that the business closed its doors in 2016. The website is no longer functional, and it appears that Tyler has moved on.

This will be our final Leaux Racing Trikes update.

Before you go, make sure to check out the other company updates from Season 7 Episode 10. You can find them here:

Find out more about companies and products by stopping by our Season 7 Products Page