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
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 Nigro starts his pitch in a silly, light-hearted manner as the ‘Sultan of Sweat.’ 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, 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. It’s great for gyms and consumer home gyms. Greg invites all the sharks to try it out, and they all take a turn with it.
The sharks are impressed, but 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. The sharks agree that this is a better price.
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. Daymond lowers his offer to 30% equity.
Guest shark Anne Wojcicki adds another offer to the pile. She offers $300,000 for 17% equity, plus a $10/unit royalty in perpetuity. However, Greg isn’t liking the royalty offers and finally decides to go with Lori’s offer. Nearly every shark was in a bidding war for this deal. So how did these exercise surfaces end up doing? Find out in our Terra-Core update.
Terra-Core is still selling well and has tried to shift the advertising towards individual consumers rather than gyms. Since appearing on
During our research for our Terra-Core update, we found that the company seems to be doing about $500,000 in annual revenue. It’s not huge, but the market is growing all the time. With an Amazon listing full of happy customers, the future is bright for this exercise company.
You can find the other company updates from Season 11 Episode 8 here:
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