JiggAerobics
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 1, 2020
Asking For:
$50,000 for 12%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
JiggAerobics is a fitness initiative that combines the fast-paced dance style of jiggin' with aerobics to make working out fun and engaging.
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Background Story
LaDonte Lotts, known as “Mr. Get Right,” is the owner and founder of JiggAerobics. The concept originated as an on-campus initiative at Southern University in Baton Rouge, Louisiana, with the aim of making fitness more appealing to students. Lotts observed a lack of interest in traditional workouts on the college campus, and he decided to infuse fun into fitness by incorporating the energetic dance style of jiggin’.
His background in dance, including training in various styles, led him to blend Louisiana’s unique dance culture with aerobics, creating a fitness experience that is both entertaining and effective. Growing up in a single-parent home, Lotts couldn’t afford formal dance training, so he turned to online resources like YouTube to refine his skills.
During his time at Southern University, he became the choreographer for the marching band’s field shows, exposing him to the distinctive dance culture of Louisiana. Witnessing the intense workout involved in the jiggin’ dance style, he recognized its potential as a fitness regimen and founded JiggAerobics.
The Product
JiggAerobics combines the dynamic jiggin’ dance style with traditional aerobics, making workouts enjoyable and engaging. Classes are priced at $15 per person, with a reduced rate of $10 per person for groups exceeding 50 participants.
Currently, Lotts travels to different states to promote the brand, conducting pop-up classes and engaging with CrossFit gyms. Additionally, JiggAerobics has launched an online subscription site, offering stretching and warm-up sessions for free to familiarize subscribers with the dance style.
Certification of trainers is the next step for JiggAerobics, and the $50,000 sought from the Sharks is intended for this purpose. Trainers would pay a one-time fee for certification and a monthly subscription afterward. The company has already trademarked its brand, securing its unique position in the market.
How It Went
The company’s position before Shark Tank
JiggAerobics, operating as a business for just a year, has achieved a total revenue of $62,000. Currently, Lotts manages the business single-handedly, traveling to different locations and conducting classes. The company’s goal is to expand its reach and become a global phenomenon, surpassing the success of popular fitness programs like Zumba.
The business model involves certifying trainers who, after paying a one-time fee for certification, contribute to the company’s revenue through monthly subscription fees. JiggAerobics is in the early stages of growth, and Lotts is seeking not only a financial investment but also a strategic partner who can guide the brand toward maximum impact.
The Negotiations:
Despite the Sharks acknowledging Lotts’s charisma and the potential of JiggAerobics, none of them made an offer. Mark Cuban and Lori Greiner expressed concerns about the investment’s viability at this stage, feeling that Lotts was too early in the development of his business. While they commended his achievements, they believed he needed more time to establish a solid foundation.
Barbara Corcoran emphasized the importance of Lotts navigating the challenges of entrepreneurship independently, asserting that a strategic partner might actually slow down his progress. Ultimately, the Sharks admired Lotts’s passion and encouraged him to continue building his brand.
Although no deal was struck, the Sharks provided valuable advice, urging Lotts to focus on expanding his brand and increasing his online presence. They emphasized the uniqueness of his product, which is not just JiggAerobics but also the charismatic persona of “Mr. Get Right.” Despite not securing an investment, Lotts left the Tank with increased confidence and determination to take JiggAerobics to new heights.
