Liberate Meditation
NO DEAL
EPISODE SUMMARY
🕓 Air Date: December 17, 2021
Asking For:
$200,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Liberate is a mental fitness studio that combines mindful movement, journaling, conversation, and meditation to promote mental wellbeing.
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Background Story
Liberate, founded by Liv Bowser in sunny Los Angeles, California, brought forth a revolutionary concept to the “Shark Tank” stage. Liv’s brainchild, Liberate, was conceived with a clear mission: to establish a mental fitness studio, not for the body, but for the mind. The core idea behind Liberate was to empower individuals and teams by enhancing their mental skills, including courage, gratitude, and resilience.
The journey of Liberate commenced in May 2020 when they launched their unique concept as online classes conducted over Zoom. Liv took the reins as the lead instructor, supported by four other talented instructors hailing from diverse wellness backgrounds. Their methodology was carefully crafted to address the challenges posed by disconnected and remote teams, catering to the needs of both individual clients and corporate partners.
What fueled Liv’s optimism and vision was the growing success of their business-to-business (B2B) model, which had quickly become the backbone of their revenue stream, contributing a significant 65%. Liberate was on a mission to not only improve individual lives but also strengthen collective well-being, making it a compelling venture with a unique approach in the world of wellness and mental fitness.
The Product
Liberate’s innovative mental fitness product is a holistic approach designed to nurture the mind, fostering inner strength and well-being. The core of their program incorporates a range of elements to create a comprehensive mental fitness experience. Liberate’s approach includes mindful movement, which involves physical exercises that are integrated with mindfulness and intention. This blend not only promotes physical fitness but also strengthens mental clarity.
Journaling is another integral part of Liberate’s program. It encourages clients to reflect on their thoughts and feelings, helping them gain deeper insights into their mental well-being and emotions. Engaging in meaningful conversations is essential for personal growth and emotional development. Liberate’s approach includes guided conversations, providing a platform for individuals to connect, share, and grow together.
Meditation plays a pivotal role in enhancing mental fitness. Liberate incorporates meditation techniques that encourage mindfulness, stress reduction, and emotional resilience. Liberate’s product is accessible through a subscription-based model, offering different tiers to cater to diverse preferences.
For $19 per month, clients can access the on-demand library, enabling them to engage with the program at their own pace. The all-access plan, priced at $49 per month, provides additional benefits, including access to courses and live classes. This pricing strategy allows clients to choose the level of engagement that suits their needs.
How It Went
The company’s position before Shark Tank
Liberate’s financial performance was marked by a strategic shift towards corporate partnerships, underscoring their recognition of the growing demand for mental wellness in the workplace. While their total lifetime sales stood at $50,000, they had achieved notable monthly sales of approximately $7,500, a testament to their potential in the field of mental fitness. One significant highlight was their imminent $6,900 deal with a corporate partner.
This deal demonstrated Liberate’s ability to gain traction in the corporate sector and their potential to serve as a valuable resource for organizations aiming to enhance their employees’ mental well-being. Despite their successes, Liberate was not blind to the challenges they faced. The need for scalability was evident, but the company had to navigate a crucial hurdle: pricing and a deeper understanding of the business-to-business (B2B) market. While they had already secured several corporate partnerships, the challenge lay in optimizing their pricing model to unlock the full potential of their B2B strategy.
Liberate’s pivot towards the corporate world was a strategic move that aligned with the changing landscape of work, where mental wellness and employee well-being have gained paramount importance. Their growth and success were undeniable, and with the right strategies in place, they aimed to address the challenges that came with scaling and further solidify their position as a pioneering force in the mental fitness industry.
The Negotiations:
During the negotiation in the “Shark Tank” episode, Liv Bowser presented her mental fitness studio, Liberate, to the Sharks, seeking a $200,000 investment in exchange for 10% equity in the company. However, despite the compelling concept and impressive growth rates, the Sharks had reservations. Mark Cuban expressed his support for the concept but questioned the company’s valuation, which stood at $2 million. He pointed out that their current sales figures were relatively low, and despite Liv’s optimism, their financials were not aligning with the high valuation.
Kevin O’Leary, known for his blunt approach, did not mince words. He believed that the idea had no merit and would not generate any profit. This stark assessment led him to emphatically declare that he was out. Lori Greiner, often the champion of wellness and female entrepreneurs, complimented Liv’s energy and grit but ultimately felt that Liberate had not fully realized its potential. She suggested that Liv was at a stage where she needed more time and experience before she could bring on an investor. Lori, too, opted out.
Despite Liv’s unwavering enthusiasm and determination to secure a deal, none of the Sharks made an offer. Their main concerns were the company’s valuation, the need to increase pricing, and the challenge of scaling the business effectively. In the end, Liberate left the Tank without a deal, highlighting the competitive nature of the wellness industry and the need for a more refined business strategy to secure investor interest.
