Electra Net Worth: A sports hydration drink named Electra made an appearance on Shark Tank. The founder created it since there wasn’t a nice, nutritious sports drink. Athletes must maintain both their physical and mental fitness in order to maintain their competitive edge.
If we’re talking about beverages, sports drinks are also included in this sports category, but they fall short of meeting the need. Numerous companies market their product as sports drinks while packing them with calories, sugar, and other unhealthy ingredients.
Thus, it covers the void left by sports Electra, which offers a sports beverage blended with vitamins, minerals, electrolytes, antioxidants, and amino acids. There are three varieties available for these drinks: Passion Punch, Orange, and Litty Lemonade.
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Electra Shark Tank Update
|Product||All-Natural Sports Hydration Drink|
|Asked For||$350,000 For 20%|
|Final Deal||$100,000 Cash + $250,000 Line Of Credit For 30% Contingent On Securing Partnership With Influencer|
|Episode (Shark Tank USA)||Season 12 Episode 9|
|Business Status||In Business|
|Net Worth 2022 / Valuation||$1.1 Million|
Shark Tank Season 12 Episode 9 features the all-natural sports hydration drink startup, Electra. The Electra company’s creator has put forth a $350,000 price tag in exchange for 20% of the company’s stock on Shark Tank.
It’s a beverage company that specializes in electrolyte replacement drinks. The market for hydration drinks is worth an estimated USD 15.2 billion and is expanding at a sluggish rate. The term “healthy sports drink” is often used to describe products in this niche.
This market is crowded with established names. A New York company called Cure Hydration has successfully raised $2.6 million. Many established beverage companies are entering the market for hydration drinks, making the sector increasingly competitive.
Texas startup Electra Beverages to pitch sports drink, lifestyle products on ‘Shark Tank’ https://t.co/G362vaKUWJ
— Austin Inno (@AustinInno) January 18, 2021
How Did Electra Start?
Fran Harris, a former WNBA player from Dallas, Texas, is accustomed to success. She helped the University of Texas win the NCAA title in 1986 and then played for the Houston Comets, who in 1997 won the first WNBA Championship. Harris has drank sports drinks her whole collegiate and professional basketball careers, as do the majority of athletes.
She had grown weary of being annoyed by the nutritional information on the well-known sports drinks that were recommended to her but left her feeling lethargic and did little to aid in her recovery. She discovered that the majority of the ingredients in the sports drinks were salt, sugar, and fake food colors after reading the nutritional labels.
Who Is The Founder Of Electra?
Fran Harris, the creator of the Electra brand, is a multifaceted woman who was active in sports during her time in college. In Texas, she launched Electra Beverages in January 2021. She has served as the company’s CEO since January 1995. Fran Harris Enterprises is a marketing firm.
She earned her B.S. and M.A. in journalism from the University of Texas at Austin before enrolling in a Masters of Science program there in technology commercialization. She also worked as a television host for “Home Rules” on HGTV and spent two years teaching college students at the University of Texas at Austin.
Through tested marketing and sales techniques that have generated more than $20 million in the product, speaking, training, and consulting revenue, she is an expert, thought leader, speaker, coach, consultant, or trainer seeking to advance to new levels of sales, revenues, and/or leadership.
Did Electra Get a Deal And Update on Shark Tank?
Fran Harris, a member of Electra, has decided to work with Barbara Corcoran as a business partner. Corcoran proposed a $100,000 cash investment and a $250,000 credit line in exchange for a 30% stake in the company.
Corcoran agreed to reduce stock after Harris disclosed that she was in discussions with two Hall of Famers as potential investors. Fran Harris accepted the offer with glee and danced out of the Tank. Because of customer input, Electra modified their original formula.
Harris indicated that Electra used Munk fruit as a substitute for sugar throughout the show. They have reportedly made the transition to NCZ Sweet, a natural, calorie-free sweetener derived from fermented sugarcane, which is mentioned on the company’s website.
In addition, Fran Harris now provides a masterclass course called Shark Tank Audition for business owners who want to pitch their venture on the show.
What Is The Electra Net Worth?
In 2022, Electra Net Worth might reach $1.1 million. In 2021, the market value for this particular type of sports hydration drink is estimated at $15.2 billion; by 2031, that number might rise to $25.5 billion. This product’s projected growth rate is excellent; it should do well in the market in the years to come.