‘Shark Tank’ is a popular business reality TV series that showcases entrepreneurs pitching their inventive ideas to the panel of judges comprising world-class tycoons like Kevin O’Leary, Barbara Corcoran, Robert Herjavec, etc. If the presentation convinces these tycoons of the real-world potential of the idea, they invest millions of dollars in the company in exchange for equity shares.
Electra Beverages is one of the start-ups that appeared on season 12 of the Emmy Award-winning show with the idea that might not be novel but definitely sounded promising. We got intrigued to know what it has been up to after the show, and here is everything we find out!
Electra Beverages: Who Are They and What Do They Do?
Electra Beverages has been founded by Fran Harris, a former professional athlete, who led the University of Texas to an NCAA championship in 1986 and played on the Houston Comets’ first WNBA championship team in 1997. Formerly an ESPN announcer, she has also appeared as a host on HGTV’s ‘Home Rules.’ Her company came into being in the fall of 2020, after years of frustration over reading the nutritional panel of sports drinks consumed by her as “a college and pro athlete.”
Yooooo @CoachesClinic attendees i appreciate the love today . So dope when folks are down for some TRUTH. 🏀 Register FREE if ya missed today’s speakers https://t.co/XdIaj7hXtA pic.twitter.com/ZievimVvgT
— Fran Harris, (@FranHarris) March 22, 2020
The first solo woman to launch a major sports drink brand, Harris is thoroughly aware of the competition she faces in the market. Yet, she is confident that the product will speak for itself. Electra is a sports and “Supernatural Hydration” drink, to say the least. The beverage claims to be free from artificial colors and ingredients that can potentially be a health hazard in the long-run. Unlike other commercial sports drinks, which contain high levels of sugar, water, and some percentage of salt, Electra abounds in vitamins, minerals, antioxidants, amino acids, and electrolytes.
Its target audience is not only athletes but also “everyday doers” and hustlers who need to rejuvenate and rehydrate after a long day at work. One bottle, composed of 16 oz, contains a total of only 60 calories, much less than most of the sports drinks available in the market. Utilizing the healthy ingredient of watermelon water, it is available in three delicious flavors: Passion Punch, Litty Lemonade, and Oh Yeah! Orange.
Electra Beverages: Where Are They Now?
Before debuting on ‘Shark Tank,’ Fran Harris raised $40,000 from a WeFunder campaign and expects to sell enough Electra beverages to hit $30 million in the coming three years. The company continues to cater to the needs of the consumers who choose a healthier drink, which has less sugar, fewer calories, and more functionality. Within months of its launch, it has already earned the reviews of athletes, boxing champions, trainers, and fitness advocates who have nothing but good to say about the sports drink.
In addition to the liquid, Electra Beverages aims to ship its powered versions in the first quarter of 2021. The company is already building its brand name by some promotional “Electra” gear, including T-shirts, caps, and bottles. Despite already entering the $23 billion-dollar category dominated by Gatorade, Harris claims that she and her brainchild are only “scratching the surface.” Considering its newfound status in the business world, Electra Beverages truly has a long way to go.
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