Ashley Drake tells the Sharks that they all need to get a grip, the Natural Grip. Her grip protects your hands from getting cut lifting free weights. Having your hands cut during a workout will keep you out of the gym for three to four days healing time.
The Natural Grip works based on your ring finger
Natural Grip slides over your ring finger and middle finger and has an optional upsell of Goat tape to secure the hand pad.
Ashley asks the Shark Tank investors, who are ready to stop the pain and see the gain?
Company: The Natural Grip
Entrepreneur: Ashley Drake
Ask: $100k for 20% equity
Companies in this episode: Priority One Canine, Man-PACK, Bottle Breacher
Season: Season 6 Episode 608
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 11/07/2014
Deal: Robert Herjavec for $125,000 for 25%
The Natural Grip has $178,000 in sales in the first year of business. Ashley is on active duty Army as of her Shark Tank pitch.
Ashley started cross-fit in 2012. She started ripping her hands, and that kept her out of the gym for three or four days at a time. Her husband thought he could make her something that could address this problem, and the Natural Grip is born.
The Natural Grip is 100% Reusable Cotton Adhesive Material
The other products are leather so they are bulky, or nylon so they are slick, but the Natural Grip material is 100% cotton adhesive material that is reusable.
She has a patent pending covering the method of a reusable tape grip based off of ring finger size.
The Natural Grip sells to distributors for $10 a unit. They resell for $17, and $4.43 to make. She has subcontractors she pays by the piece. She's sold 13,000 units.
Daymond John owns the number one Crossfit in the world on the fifth avenue, and asks does a market exist outside of CrossFit? She responds absolutely.
The Natural Grip works for not only CrossFitters but powerlifters, Olympic lifters, and motocross riders.
Ashley needs the money to manufacture more orders, and meet demand. She can fill 3,000 requests a month right now.
What do the Shark Tank Investors say about the Natural Grip
- Mark Cuban wants Daymond John and Robert Herjavec to come in, but Robert gets defensive saying Cuban comes in late every time. Mark likes what she is doing, but doesn't hear what's next so that they can grow it into something enormous, so he is out.
- Daymond John thinks she needs more than just the strategy, and he is a partner with the person that can put Rebock on the boxes. He offers $100,000 for 40%, and he can help her with the manufacturing.
- Kevin O'Leary thinks her manufacturing limitation is a significant constraint to her business. He sees she is doing something right, but he can't get excited about the company, so he is out.
- Lori Greiner is impressed with how well she knows her numbers and how prepared she is, but she has to have a passion for everything she does, and Lori doesn't have a desire for CrossFit, so she is out.
- Robert Herjavec wants to know what the business looks like two or three years from now. Ashley sees the industry growing, and other needs outside CrossFit is seeking the product. She sees it doubling. Robert offers $100,000 for 30%. He is in on the strategy. Robert counters Daymond's offer is giving her $125,000 for 25%, which causes Daymond to counter again for $100,000 for 33%. She goes with Robert Herjavec because she feels like Robert can help her get it done.
the Natural Grip after Shark Tank
The Natural Grip watched revenues increase seven-hundred-fifty percent. Robert Herjavec inks the deal after the show,
Ashley Drake's business generates two million dollars of impact to the Louisville, Kentucky economy, and her company is now on Beyond the Tank.
Getting an investment on Shark Tank, and in the real world requires discipline, passion, and dedication, something entrepreneurs often experience going through hundreds getting one investor.
Ashley's product received two offers from Sharks that competed for the deal, and some products receive no offers in Shark Tank but go on to receive firm offers after their episode airs. If rejected, you keep going, and if your product or service is right, you will find an investor that fits you.
The Natural Grip is available for purchase on Amazon. Learn more here.