Home gym equipment can get out of hand quickly. You’ll need room, plenty of money, and expertise on how to use all of the machines. That problem prompted Greg Nigro to create Terra-Core: a small, air-filled surface that can be used for hundreds of workouts. Will the sharks sweat to make a deal on this device during
If you’re short on time, here’s a quick overview of what happened to Terra-Core after
Greg Nigro appeared on
|Lori Greiner||Accepted deal of $300,000 for 22.5% equity|
|Kevin O’Leary||$300,000 for 15% equity and $20/unit royalty until $1 million is paid back|
|Daymond John||$300,000 for 40% equity|
|Anne Wojcicki||$300,000 for 17% equity plus a $10/unit royalty in perpetuity|
|Mark Cuban||No Offer|
Shark Tank Terra-Core Update
- Entrepreneur: Greg Nigro
- Business: Versatile, air-filled workout surface
- Ask: $300,000 for 15% equity
- Result: $300,000 for 22.5% equity
- Shark: Lori Greiner
Greg brought Terra-Core to
Terra-Core is one of the most versatile pieces of exercise equipment you can own. Every exercise you do is enhanced to the next level
He peers deep into his crystal ball, revealing that the future of fitness is always changing. He believes that Terra-Core, his versatile workout surface board, is the next big thing.
The air-filled surface activates four times the muscle tissue for each and every workout and only takes up three square feet in your exercise space. Further, it’s great for both commercial and consumer home gyms.
Greg brings some people with him to demonstrate the workout equipment, before the sharks give it a try for themselves. He finally invites all the sharks to try it out, and they all take a turn with it.
Guest shark Anne Wojcicki, founder of 23 and Me, comments that the board is very comfortable to use. At this point, most of the sharks are interested.
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However, they’re more impressed by the numbers. Terra-Core raised $95,000 on Kickstarter and has sold $2.1 million since its launch (two years before filming).
Right now, it’s selling mostly on the commercial market, and Greg is lowering the costs to $199, making it more attractive for consumers. However, it costs $73 to manufacture it internationally.
Additionally, he’s also making great profit margins and projects about $1.4 million in sales next year.
Daymond John is the first to make an offer, which is $300,000 for 40% equity—a pretty sharky deal.
Kevin O’Leary is next to offer, speaking over Lori Greiner, to promise $300,000 for 15% equity, plus $20 per unit royalty until he earns $1 million back. Greg doesn’t accept either of these deals yet.
Daymond drops his equity offer to 35% for the same $300,000, which prompts Lori to make an offer of $300,000 for 22.5% equity. Then, Daymond lowers his offer to 30% equity.
Anne adds another offer to the pile. She offers $300,000 for 17% equity, plus a $10/unit royalty in perpetuity.
However, Greg doesn’t like the royalty offers and since every shark is in a bidding war for this deal he sticks with his gut. After some deliberations, he finally decides to go with Lori’s offer.
What happened following
We have good news to share in our Terra-Core update. The company is still selling well and has tried to shift the advertising towards individual consumers rather than gyms. This effort has led to around $500,000 in annual revenue.
Since appearing on
While our Terra-Core update revealed that the company didn’t explode in sales after airing on
With an Amazon listing full of happy customers, the future is bright for this exercise company.
If we learn anything new about this company, we’ll be sure to let you know. In the meantime, if you would like to learn about the other companies featured on
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!