Greg Nigro wants a Shark to work out a deal for Terra Core, his commercial grade balance trainer and exercise program, in Shark Tank episode 1111. Terra Core is an all in one balance trainer that allows you to do CrossFit exercises, steps, crunches, push-ups, balance training and more. It works all by itself or with weights, resistance bands and other exercise equipment.
The secret sauce is the over one thousand of accompanying workouts that come in the accompanying app. There are also daily live workouts and workout plans suited for different fitness goals. Support is a big part of the Terra Core “tribe” too. The company has a private Facebook group and has users all over the world. Nigro claims it’s the lowest “cost per exercise” piece of equipment on the planet.
Nigro has been in the fitness industry for almost twenty years as an equipment salesman, trainer and gym consultant. After educating people in the fitness, health, and wellness industries about new technologies and products for the past nine years, he decided to make his own fitness product. He initially got his business started with a successful Kickstarter campaign that raised $95,678 back in 2016. He delivered to his backers and now sells his product on the company website and on Amazon for just $199.00.
While he’s had some success with the product, he wants to start certifying trainers and securing people that want to be dealers. The goal is to have Terra Core fitness classes all over the country. Will a Shark think this exercise equipment is a good fit?
Company Information
Video
Posts about Terra Core on Shark Tank Blog
TerraCore – 1000 in 1 Fitness Stepper
Terra Core Shark Tank Recap
Greg enters the Tank seeking $300,000 for 15% of the business. He’s been selling the product since 2017 and has $2.1 million in lifetime sales. The Sharks love his margins: he makes them for $73 and sells them for $199. He wants a Shark to help expand the consumer and international markets.
The Sharks try the product and like it, resulting in a bidding war. Daymond, Kevin, Anne and Lori all bid on it and Greg ultimately goes with Lori’s offer: $300,000 for 22.5%.
Terra Core Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Lori did not close. As of August, 2020 the company is still in business. In July, 2021, the business was doing around $500,000 in annual revenue. By July, 2022, the business posts annual revenue of $1.4 million.
Recent Comments