Phil Black pitched his tutoring company during
If you’re short on time, here’s a quick overview of what happened to PrepWell Academy after
Entrepreneur Phil Black appeared on
Shark Tank PrepWell Academy Update
- Entrepreneur: Phil Black
- Business: Online college admissions and preparation tutoring
- Ask: $100,000 for 20% equity
- Result: No deal
- Shark: None
Phil Black, founder of PrepWell Academy isn’t new to
He didn’t hook a shark then, but he went on to sell the company to a fitness startup. The sharks remember his impressive background, however, which includes Yale, Harvard, and investment banking at Goldman Sachs.
Now, he’s bringing PrepWell Academy to the
Further, it teaches them how to become desirable in the admissions process, and even helps parents navigate the process as well. The tutoring involves weekly videos, lessons, and more to help kids on the right track.
So far, he’s done $150,000 in two years of business and currently has 220 subscribers. Although the sales are decent, the sharks aren’t exactly impressed with the product.
In fact, Lori Greiner starts by saying she doesn’t like the subscription model. She’d rather it be a crash course or a one-time thing, and she ultimately drops out.
Robert Herjavec commends Phil’s mission and dedication, but he doesn’t think the business is viable, so he also drops out.
Daymond John points out that maybe the people he’s trying to educate don’t really want to be educated. Maybe that’s why the subscription numbers are so low, but he’s out.
Mark Cuban doesn’t think the product is scaleable and thinks it’s a lot of work for a low subscription cost. He doesn’t want to get involved in that, so he drops out as well.
Kevin O’Leary says it’s a bad idea, and he is out too.
Unfortunately, Phil Black leaves
Keep reading our PrepWell Academy update to find out what happened following the show!
We have good news to share in our PrepWell Academy update. The company is still in business, despite not getting a deal.
Prepwell Academy is still going strong, and Phil has since launched a podcast and writes weekly emails for his subscribers. Additionally, he has also added several new programs to his catalog.
Although there are no figures about how many subscribers he has at the time of this writing, our research found that the company is making about $900,000 per year, through all avenues of the business. One-on-one mentoring with Phil is also available.
If we get any more news on a Prepwell Academy update, we will let you know!
However, in the meantime, you can find the other company updates from Season 11 Episode 18 here:
For even more on companies and products, be sure to stop by our Season 11 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!