Gladiator Lacrosse – Training Equipment
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 13, 2016
Asking For:
$100,000 for 15%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Gladiator Lacrosse provides high-quality and affordable lacrosse equipment, including a durable rebounder and a goal, designed to withstand the rigors of competitive play.
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Background Story
Rachel Zietz, the 15-year-old founder of Gladiator Lacrosse, developed her passion for lacrosse at a young age. Frustrated with the quality of existing equipment, she decided to create her own, leveraging her parents’ entrepreneurial background for advice. The idea sparked when her parents disapproved of her practicing against the house, leading her to purchase equipment that quickly deteriorated. With a loan from her parents, she started Gladiator Lacrosse at the age of 12, aiming to provide reliable and affordable lacrosse gear. Rachel’s involvement in the Young Entrepreneurs Academy and guidance from mentors contributed to her business’s growth.
The Product
Gladiator Lacrosse offers a trampoline-like rebounder for practicing throwing and catching skills, as well as a goal designed for durability. Rachel emphasizes the high quality and affordability of her products, targeting the lacrosse community.
The rebounder costs $66, and the goal is priced at $38.50. Rachel sells these products on platforms like Amazon and eBay, her website, specialty lacrosse stores, and at local tournaments.
How It Went
The company’s position before Shark Tank
Since January 2014, Gladiator Lacrosse has achieved over $300,000 in sales. Rachel’s parents provided a $30,000 loan, which has been repaid. The company sells through various channels, including online platforms and local stores. Rachel manages her busy schedule effectively, juggling school, lacrosse, and business. The $100,000 sought during the pitch is intended for expanding online and retail distribution, creating a sales team for tournaments, and increasing the product line.
The Negotiations:
Despite the Sharks acknowledging Rachel’s remarkable achievements at her young age, concerns are raised about her ability to handle the potential growth of the business. Each Shark expresses admiration for her entrepreneurial spirit but ultimately decides not to invest due to the challenges they foresee in scaling the business. While Rachel doesn’t secure a deal, the Sharks commend her efforts and wish her continued success, acknowledging her as an inspiration for other young entrepreneurs. Rachel leaves without a deal but expresses gratitude for the opportunity, hoping to inspire other aspiring entrepreneurs to pursue their passions.
