Former Nickelodeon executive Tanya Van Court introduces the Sharks to GoalSetter, her platform that teaches kids about saving money and setting goals. Research shows that kids who learn how to handle and save money at a young age become more fiscally responsible adults. GoalSetter puts them on the right path and lets family and friends participate.
Kids under 13 sign up with a parent (kids over 13 can sign up on their own) for a FDIC insured savings account. They create a profile and set savings goals like “college fund” or “new bike” or even “trip to Disneyland.” Parents can set up a “round-up” savings contribution – similar to an Acorn account – that regularly deposits money into the account. Anyone can buy a “GoalCard” to fund the child's GoalSetter account for a specific goal. They can share their goals via links and/or social media.
The value of GoalSetter is twofold. It teaches kids about the power of saving money. There's also the value of teaching how to set – and reach – goals, financial or otherwise. Tanya first envisioned GoalSetter when her daughter didn't get a new bike for her birthday. Instead she got a bunch of junky toys. This made Tanya think parents shouldn't feed into consumerism for their kids, they should support their goals.
Goalsetter partners with some big hitters including Mastercard, Acorn, Sesame Street and Facebook. They make their money with processing fees and donate 5% of all fees collected to a variety of children's charities. Tanya likely wants a Shark's help with capital for marketing and establishing new partnerships. Will a Shark want to save with this company?
GoalSetter Company Information
Posts about GoalSetter on Shark Tank Blog
GoalSetter Shark Tank Recap
Emma and Miles will pitch the panel of five Sharks on the business and its prospects for growth. She'll need to convince Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John and guest Shark Jamie Siminoff. that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but they’ll need to show them SHE is capable of running the company to “Shark standards." A full pitch re-cap on GoalSetter will be available on Shark Tank Blog once this episode airs.
GoalSetter Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on GoalSetter & Tanya Van Court as more details become available.