Many people want to stay in shape, but it can be difficult to find the time, motivation, and variety to consistently work out. People frequently find it difficult to stick to a fitness routine or become bored with repetitive workouts.
Fitness passionate Phil Black was aware of this widespread issue and set out to develop a solution that would make working out more interesting and approachable. FitDeck, a special deck of cards that features a different exercise on each card to help customers mix up their routines and keep things interesting, was his response. The goal was to simplify, enjoy, and facilitate fitness.
Phil pitched his FitDeck on Shark Tank and requested $300,000 in exchange for 20% of his business. Did the entrepreneur get a deal on Shark Tank? Check out our FitDeck update to find out!
FitDeck Net Worth 2024
Phil Black asked for a $300,000 investment in exchange for 20% equity in his company, FitDeck. This meant he valued his company at $1.5 million. However, he did not make a deal with any of the Sharks as they were not convinced of the market potential and financial trajectory of the product. After the show aired, FitDeck continued to operate independently and was later sold to Implus, a company specializing in fitness and outdoor equipment. With an estimated 10% yearly growth rate (typical business growth), the current net worth of FitDeck in 2024 is about $2.2 million.
FitDeck Shark Tank Update
What Happened To FitDeck After Shark Tank?
Phil Black had to deal with the harsh truth that not one of the Sharks had made a deal for him, despite his enthusiasm and inventiveness, after his debut on Shark Tank. As for a FitDeck update, FitDeck continued to operate despite the loss. Rather, Phil sold his business to Implus, a reputable FitDeck that specializes in outdoor and fitness equipment.
FitDeck was able to grow under new ownership and reach a wider audience. Phil, still didn’t stop there. Later on, he started a new business called PrepWell Academy, which helps students become ready for college and the workforce. He went back to Shark Tank to present this fresh concept. FitDeck is still on sale as of today, mostly online, and it keeps individuals motivated to stay in shape in an enjoyable and practical way.
Did FitDeck Get A Deal On Shark Tanks?
No, FitDeck was unable to close a deal on Shark Tank. The five Sharks choose not to offer Phil despite his strong pitch and the uniqueness of his offering.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Phil Black Backstory
Phil Black’s goal to make working out more interesting and his intense enthusiasm for fitness led him to start FitDeck. As a former Navy SEAL and fitness instructor, Phil was well aware of the value of varied physical activity that avoiding boredom and maintaining need. He realized that a basic deck of cards may offer a quick and efficient means of various exercise routines without requiring costly equipment or a gym membership.
FitDeck’s development was not without its difficulties, though. Because it took time for his product to establish popularity and develop a consumer base, Phil encountered difficulties in both producing and selling it. Despite these challenges, he continued because he was committed to supporting others in reaching their fitness objectives.
Initial Pitch
Phil introduced FitDeck as a straightforward yet effective tool that will transform the way people approach fitness. Fit deck is a custom deck of fitness playing cards that makes exercises more simple, convenient and fun. Each card has an illustration and instructions on how to perform the exercise. People just need to Shuffle the cards and do the exercise. He described how users may mix and match the exercises on each card in the deck to construct unique and adaptable fitness routines.
Phil wanted to get $300,000 for twenty percent of his business. Despite taking seven years to reach that milestone, he revealed amazing sales figures, stating that he had sold over half a million cards. A normal year for the business brought in $725,000 in sales and $120,000 in profit. Despite these figures, Phil acknowledged that the FitDeck had produced $640,000 in sales the year before he appeared on Shark Tank, but with no profit. Keep reading our FitDeck update to see what happened next!
Queries About The Product
Lori Greiner wanted to know where they are selling their products. The entrepreneur responded that they sell directly to customers through their website.
Robert Herjavec inquired about the cost and selling price of the single unit. Phil told the sharks that he sells it for $14.95 on their website and it costs $2 to make.
Kevin questioned, are they selling the product right now? Phil responded that they have sold half a million decks in the last seven years.
When Phil revealed that he made $ 640,000 sales last year, Mark asked about the profit. He revealed that he had no profit and just breakeven last year. This disappointed all the sharks.
When Sharks asked the reason for no profit, he revealed that mostly they had an average sales of $725,000 with an average profit of $120,000. So when the sales are reduced, profit also decreases.
Shark’s Responses and Final Deal
Mark Cuban decided not to make an offer as he is concerned about the adaptability of the business.
Daymond John and Robert Herjavec also said no, agreeing with Mark that the market seemed limited.
Lori Greiner felt the fitness market was too crowded and opted out.
Kevin O’Leary was also unconvinced by FitDeck’s financial direction.
In the end, Phil left the tank without a deal.
What Went Wrong With FitDeck On Shark Tank?
The Sharks’ doubts about FitDeck’s sustainability and market potential were the primary reasons Phil was unable to close a deal. Although they agreed that the product was unique, they believed that the fitness market already had a lot of comparable products, many of them with more advanced technology.
The Sharks, who were searching for a more profitable investment option, also took notice of the lack of recent earnings. The Sharks didn’t offer any deal because Phil’s plans for the business didn’t match theirs.
Product Availability
From our FitDeck update research, FitDeck can be bought online, including from sites like Amazon, where it is still offered today. With a suggested retail price of $15, the cards are a cost-effective fitness aid for anybody seeking to add some variety to their exercise routine.
Conclusion
Although FitDeck’s Shark Tank journey may not have resulted in funding, Phil Black’s enthusiasm for innovation and fitness is evident. FitDeck may now be used by fitness lovers worldwide thanks to his successful sale of the invention to Implus after he exited the tank.
Phil’s story is a testament to the fact that failure doesn’t mean the end; instead, it can be an initial step to new opportunities. FitDeck still motivates people to be active today in an innovative and enjoyable way. Phil’s latest project, PrepWell Academy, demonstrates his continued commitment to having a positive influence and demonstrates his lasting entrepreneurial spirit.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.