Tippi Toes Dance Franchise Update | Shark Tank Season 2
Kids need movement and physical activity to thrive, but it’s not always easy to achieve this with cuts in recess activities in schools. Because of this, sisters Megan Reilly and Sarah Nuse created a dance franchise. Will the sharks be moved by this company on
If you’re short on time, here’s a quick overview of what happened to Tippi Toes after
Tippi Toes appeared on
| Shark: | Result: |
| Mark Cuban | Accepted deal of $100,000 for 30% equity |
| Kevin O’Leary | $50,000 for 51% equity |
| Barbara Corcoran | $60,000 for 20% equity |
| Daymond John | No Offer |
| Robert Herjavec | No Offer |
Shark Tank Tippi Toes Update
- Entrepreneurs: Megan Reilly and Sarah Nuse
- Business: Children’s dance company
- Ask: $30,000 for 5% equity
- Result: $100,000 for 30% equity
- Shark: Mark Cuban
Megan and Sarah brought their company, Tippi Toes, to
Sarah explained that she basically started the idea for the company in high school, and since then the sisters have come together to expand it. Not only do they focus on dance, but also on a healthy diet, physical activity, and healthy habits.
The sisters already have seven franchises up and running, with their targeted clients being stay-at-home moms. In addition to this, they can charge low entry fees because the company uses existing facilities.
Further, Tippi Toes features its own music and has become a huge hit with schools.
At this point in the pitch, Robert Herjavec wants to know about the numbers. Sarah says in the previous year they’ve made $268,000, with a profit of $29,000.
Robert then wants to know how people get the money to pay for the franchise. That’s when Sarah explains their in-house financing system, which makes a profit off interest.
Mark Cuban is also interested in the royalty payment, and Sarah tells him the minimum payment per month is $1,000. Kevin is even more impressed, and Daymond John delightedly refers to the sisters as ‘extortionists in tutus’.
The business duo goes on to share that they want to invest money in creating a DVD line, but Mark does not quite see the appeal of that.
First out is Daymond, who says the sisters don’t need him.
Then, Barbara Corcoran asks if any of the franchisees quit, and how long the commitment is for. Sarah tells her that no one has quit yet and that the commitment is for ten years.
Robert then goes out next, because he thinks they are moving too fast.
Their first offer comes from Kevin, who offers $50,000 for 51% equity but takes the DVDs off the table.
Mark says 5% is too little equity, but if they come back to him with the right number, they may have a deal.
Barbara then offers $60,000 for 20% equity.
Sarah and Megan reject Kevin’s offer. This is when Mark chimes in, and asks them if they want to counter his deal.
When they say yes, Mark gives them an ultimatum that he will accept the counter, only if they make the deal immediately after.
Sarah counters Mark’s offer with $100,000 for 30% equity, which Mark immediately accepts, sealing the deal. Sarah and Megan walk out of the tank very happy, while Barbara has to accept defeat.
What do you think happened next? Keep reading our Tippi Toes update to find out!
Our Tippi Toes update reveals that the company is still a success years later and has grown from seven franchises to 36. Further, we found that the deal with Mark Cuban never closed.
In 2023, they have 36 franchises and they also offer virtual classes, which likely came about during the COVID-19 pandemic.
Each of the Tippi Toes franchise stores offers dance classes, camps, and parties. Their CDs are available online for download or as physical CDs, on the Tippi Toes website.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!