Former Gold’s Gym executive, Greg Nigro, has developed a product that makes fitness more fun and productive for individuals of all fitness levels.
His patent-pending product, Terra-Core, is an air-filled workout surface that increases muscle activations during exercise by as much as 4 times. By activating core muscles on an unsteady surface, the Terra-Core engages more muscle groups than standard exercise alone.
Terra-Core is more than a product, it’s a community.
Through the community, consumers are able to search from hundreds of workout plans to meet their fitness goals.
Does this exercise invention have what it takes to become the next fitness hit? ️♂️ #SharkTank — Shark Tank (@ABCSharkTank) November 18, 2019 Greg started selling Terra-Core in 2017 and has seen $2.1 million in lifetime sales after raising $95,000 on Kickstarter. He would like a Shark Tank partner that is willing to invest $300,000 for 15% equity in Terra-Core. Currently, the majority of their business comes from the commercial market, however, they are looking to expand their presence in the consumer and international markets with the help of a Shark. A Terra-Core unit is currently being sold for $199 with a landed price for manufacturing of $73. Greg is working with his manufacturer in China to get his cost down to $40 which will increase the product margins even further. The Sharks tried out the product and felt that it was a more comfortable way to work out and felt that it truly could revolutionize the fitness market. Four Sharks made Greg an offer: Daymond John, Kevin O’Leary, Lori Greiner, and Anne Wojcicki. Kevin and Anne both offered a financial investment in exchange or equity and a royalty. Daymond and Lori both made straight equity offers. Because Lori’s offer would mean the lowest percentage of equity lost without a royalty agreement, Greg chose to accept Lori’s offer for $300,000 in exchange for 22.5% equity. Get yours now…#SharkTank special https://t.co/rHDf5ouBqh @ABCSharkTank #TerraCore pic.twitter.com/qIeN9i9S04 — Lori Greiner (@LoriGreiner) November 18, 2019 People want to go someplace where there is a lifestyle and there is something where they are going to FEEL a different way. If you can create that community or “tribe” through your business, it may turn out bigger than you even think. #TerraCore #SharkTank — Daymond John (@TheSharkDaymond) November 18, 2019 Congratulations on your deal @LoriGreiner! pic.twitter.com/f0y9BClfsq — Shark Tank (@ABCSharkTank) November 18, 2019 I don’t knock riding the wave when it comes to fads, it’s a great way to latch onto something popular and make lots of money for yourself. I caution you one thing though when trying to do this, and it’s simple… Plan. For. Afterwards. #TerraCore #SharkTank — Daymond John (@TheSharkDaymond) November 18, 2019 That was the coolest way to ever do a plank – Felt great!! #TerraCore #SharkTank @ABCSharkTank — Lori Greiner (@LoriGreiner) November 18, 2019 Do you think that Terra-Core made a good decision by partnering with Lori to get further into the consumer market? Would you purchase this product? Would you be willing to pay a premium cost or buy-in to a subscription service to receive a continual feed of new workout ideas as well as a community to connect with? Begin the conversation in the comments below! Would you like a summary of the whole episode? Click here to read more! Read more: Shark Tank: Laid Brand, Pheromone-Infused Hair Care Products, Fails to Get A DealKey Takeaways: Terra-Core on Shark Tank
What is the Story Behind Terra-Core on Shark Tank?
Over to You