Electra Sports Drink is a hydration drink, a great competition for Gatorade. Electra comes in three flavors- Passion Punch, Oh Yeah! Orange and Litty Lemonade. The drink comes in a 16-ounce bottle containing electrolytes, vitamins, antioxidants, and amino acids.
Electra is a great alternative for people who need the required vitamins in their bodies, especially athletes. Hydration drinks with delicious flavors and no harmful chemicals are one of the best ways to always stay hydrated.
Electra Sports Drink at a Glance:-
| Idea | All-natural sports hydration drinks |
| Founders | Fran Harris |
| Asked For | $350,000 for 20% equity |
| Accepted Deal | $100,000 cash + $250,000 line of credit for 30% contingent on securing partnership with influencer |
| Sharks | Barbara Corcoran |
| Business status | In Business |
| Episode No. | Season 12, Episode 9 |
| Website | Electra |
Index:
Who are the founders of Electra Sports Drink?
Fran Harris, a former WNBA star, is the founder of Electra sports drink. She observed that when she used to play sports, she had to consume hydration drinks for 30 years, without any option available to them. She wanted to create a tough competition for Gatorade. So, she created Electra.
It comes with numerous flavors so that people can stay hydrated according to their choice of flavor. She has been an announcer on ESPN and a life and business coach on Good Morning America, Today, CNN, CNBC, and MSNBC.
Did Electra Sports Drink get a deal on the Shark Tank?
Fran enters the show looking for an investment of $200,000 in exchange for 20% of her business. Fran introduced herself and then gave a demonstration of her product and explained its benefits. Fran handed the samples to the sharks. Sharks liked the product but there were so many questions on their minds which could be clearly seen on their faces. How she breaks into this big beverage space. Fran shared that she had just started this company as it was at the stage of pre-revenue.
When the sharks asked why she needed an investment? Fran said she needed it to run the production smoothly, to get the R and D done properly and the remaining would help in the marketing. Fran made a mistake by sharing an unnecessary point during the pitch. She said there are two famous celeb athletes who are willing to come on board for this business. This statement made all the sharks out of the deal.
Barbara Corcoran said, wait lady, I’m still here” and gave an offer of $100,000 for 30%, along with $250,000 on a line of credit with the addition that she wanted one of the athletes to join them. Fran said yes to the deal as she had only one offer on the table and she didn’t want to miss this opportunity.
What happened to Electra Sports Drink after Shark Tank?
After the show, when the episode aired, Electra sports became popular and famous among youngsters. After the show, the deal made on the Shark Tank was never closed. As there is no evidence of it, it also is not updated on the Barbara Corcoran website for her business list. Electra Sports Drink is only available on its official website. There is no capture of the market or any offline stores.
Planning to add powdered drink mixes in the spring of 2022, which says it is still in business and is profitable. During the pitch, they asked for a valuation of $1,000,000. As of June 2022, she was able to get her product into 172 HEB Supermarkets in Texas.
The founder of Electra Sports Drink expects to reach $30 million in sales in the next 3 years. Electra Drink has also donated its 10% profit to STEM and Financial literacy programs to support water and food insecurity and is planning to go more into the retail segment.
Competitors of Electra Sports Drink
- Mountain Berry Blast Xion4
- Mountain Berry Blast Powerade
- Fruit Punch Powerade
- Mixed Berry Powerade
What is the net worth of Electra Sports Drink?
The estimated net worth of Electra Sports Drink is around $1.17 million as per the Shark investment. Also, in 2020, Electra has raised $40,000 from WeFunder. They are targeting $80-$100 million in sales by the next 5 years.
Is Electra Sports Drink still in business?
Electra Sports Drink is still in business and doing very well. This beverage has a very good growth rate which can make it cross all limits in terms of gaining profit.
Electra social links:
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FAQs:
What is Electra?
Electra Sports Drink is a hydration drink, a great competition for Gatorade. Electra comes in three flavors- Passion Punch, Oh Yeah! Orange and Litty Lemonade. The drink comes in a 16-ounce bottle containing electrolytes, vitamins, antioxidants, and amino acids.
Who founded Electra?
Fran Harris, a former WNBA star, is the founder of Electra sports drink. She observed that when she used to play sports, she had to consume hydration drinks for 30 years, without any option available to them.