The Natural Grip Workout Hand Grips Update | Shark Tank Season 6
Ashley Drake needed a way to avoid hand-related injuries during workouts because she kept sustaining blisters and bloody hands. Her custom hand grips were the solution to her problem and have been solving this common issue for others as well. Will the sharks offer her a deal on
Shark Tank The Natural Grip Update
- Entrepreneurs: Ashley Drake
- Business: Workout hand grips
- Ask: $100,000 for 20% equity
- Result: $125,000 for 25% equity
- Sharks: Robert Herjavec
Ashley entered the tank with an athlete to demonstrate how her hand grips worked. The sharks looked on as she lifted weights and did some chin ups on the bars. Ashley explained how her bloody and blistered hands kept getting in the way of her workouts, because she didn’t have the proper hand protection. The Natural Grip hand grips allowed the athlete to do their workouts with ease and free from injury. Ashley passed out samples to each of the sharks.
Kevin O’Leary wanted to jump right into the sales numbers. Ashley shared that she had generated $178,000 in sales during the first year prior to filming. The company had been using a distributor business model. More than 13,000 units had been sold to distributors for $10.00 a unit. It costs $4.43 to produce a single unit of The Natural Grip.
Lori Greiner liked the product but it wasn’t something she wanted to invest in, so she dropped out. It also wasn’t investible for Kevin, so he went out next. While Mark Cuban was the third shark to drop out, leaving Robert Herjavec and Daymond John to respond. Robert Herjavec , who called himself “the sporty shark,” was interested, offering $100,000 for 30% equity.
Daymond John was interested as well, and offered Ashley $100,000 for 40%, stating that he could have the hand grips licensed with Reebok. Robert came back in with a new and competitive offer of $125,000 for 25% equity, to which Daymond also had a new offer to throw on the table. He offered Ashley $100,000 for 33%.
Ultimately, Ashley accepted Robert’s offer. What became of her business after the show? Keep reading The Natural Grip update to find out!
Research for The Natural Grip update revealed that though Ashley managed to finalize the deal with Robert, the company ultimately went out of business by the end of 2018. Ashley was a very determined entrepreneur but still failed to keep her company alive due to a lack of sales. This will be the final update for The Natural Grip.
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