FitDeck Exercise Playing Cards
NO DEAL
EPISODE SUMMARY
🕓 Air Date: January 24, 2014
Asking For:
$300,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
FitDeck is a custom deck of fitness playing cards designed to make exercise more simple, convenient, and fun, with each card containing illustrations and instructions for various exercises.
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Background Story
FitDeck, headquartered in San Diego, California, was founded by Phil Black, a seasoned entrepreneur with a diverse background spanning finance, military service, and fitness. Phil’s journey to founding FitDeck began during his college years at Yale University, where he and his roommates popularized a card game called “Pug” (Push-Up Game), which involved performing push-ups based on the cards drawn. This simple yet effective concept sparked Phil’s entrepreneurial spirit and laid the groundwork for FitDeck.
After graduating from Yale, Phil embarked on a career in finance, working at one of the world’s leading investment banks, Goldman Sachs. However, his passion for fitness and entrepreneurship led him to pursue a different path. Inspired by his time as a Navy SEAL and the success of the Pug game at Yale, Phil recognized the potential to expand the concept into a comprehensive fitness solution. Drawing upon his experiences as a SEAL and his business acumen gained from his time at Goldman Sachs, Phil set out to create FitDeck—a custom deck of fitness playing cards designed to simplify exercise routines and make fitness more accessible and enjoyable for everyone.
With illustrations and instructions for a wide range of exercises, FitDeck offers users a versatile and convenient way to stay active, whether at home, in the gym, or on the go. Phil’s unique blend of military discipline, academic achievement, and entrepreneurial drive positions FitDeck as a pioneering force in the fitness industry, dedicated to empowering individuals to lead healthier, more active lifestyles through innovative and user-friendly fitness solutions.
The Product
FitDeck revolutionizes the fitness experience with its innovative approach to exercise. Each FitDeck deck contains a collection of fitness playing cards, with each card featuring illustrations and instructions for a specific exercise. Users can shuffle the deck and draw cards to create custom workout routines tailored to their preferences and fitness goals.
FitDeck offers a diverse range of exercises, including body-weight workouts, yoga poses, Pilates moves, stretches, and sports-specific drills like basketball. Whether users are beginners looking to kickstart their fitness journey or seasoned athletes seeking new challenges, FitDeck provides a versatile and convenient solution for staying active anytime, anywhere.
The benefits of FitDeck are manifold. Its simplicity and ease of use make it suitable for individuals of all fitness levels, from beginners to advanced enthusiasts. By eliminating the need for complicated equipment or gym memberships, FitDeck offers a cost-effective and accessible alternative to traditional workout routines.
FitDeck decks can be purchased directly from the company’s website, with each deck priced at $14.95. Additionally, FitDeck has expanded its offerings to include a mobile app, available for purchase at $9.99, catering to users seeking digital fitness solutions. With its affordable price point and comprehensive exercise library, FitDeck empowers users to take control of their fitness journey and achieve their wellness goals with confidence and convenience.
How It Went
The company’s position before Shark Tank
FitDeck has demonstrated strong performance and growth since its inception, with a total of half a million FitDeck decks sold over the years. The company primarily sells its products directly to consumers through its website, comprising about 75% of its business. Despite impressive sales figures, FitDeck faced challenges in profitability, with last year’s profit being break-even due to increased expenses in research and development, video production, and website enhancements.
FitDeck’s founder, Phil Black, has been the driving force behind the company’s success, leveraging his diverse background and experiences to position FitDeck as a leading player in the fitness industry. The company’s expansion into digital platforms, including the recent launch of a mobile app, reflects its commitment to adapting to evolving consumer preferences and technological advancements. FitDeck’s customer base includes fitness enthusiasts of all ages and fitness levels, drawn to the company’s user-friendly and versatile fitness solutions.
Partnerships with fitness influencers, gyms, and wellness brands have helped expand FitDeck’s reach and visibility in the market.As for the company’s structure, FitDeck operates as a privately held corporation, with Phil Black serving as the CEO and driving force behind the company’s strategic direction. While FitDeck has faced challenges in profitability, its strong sales performance and commitment to innovation position it for future growth and success in the competitive fitness industry.
The Negotiations:
During the negotiation process on Shark Tank, FitDeck’s founder, Phil Black, sought a $300,000 investment in exchange for a 20% equity stake in the company. However, despite the impressive background and compelling pitch from Phil, the Sharks expressed concerns about FitDeck’s profitability and the viability of its business model, particularly in the competitive digital fitness market. While several Sharks acknowledged the potential of FitDeck’s product and admired Phil’s entrepreneurial spirit, they ultimately decided not to invest in the company.
Mark Cuban expressed skepticism about FitDeck’s transition into the mobile app space, citing the challenges and fierce competition in the industry. Other Sharks, including Kevin O’Leary and Robert Herjavec, raised concerns about FitDeck’s profitability and questioned the company’s valuation. Despite Phil’s passionate defense of FitDeck and his personal commitment to the business, none of the Sharks were convinced enough to make an offer.
Ultimately, the negotiation concluded without a deal, leaving FitDeck to pursue its growth and expansion plans independently. While the outcome of the negotiation may have been disappointing for Phil and FitDeck, the exposure and feedback received on “Shark Tank” can serve as valuable insights for the company’s future strategy and development. FitDeck remains determined to continue innovating and providing accessible fitness solutions to its customers, leveraging its strong brand and loyal customer base to drive future success in the dynamic fitness market.
