National Association of Bubble Soccer
NO DEAL
EPISODE SUMMARY
🕓 Air Date: November 20, 2015
Asking For:
$160,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Advanced Sports Technology offers a unique recreational sport known as Bubble Soccer, combining traditional soccer with full-contact play inside inflatable bubbles.
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Background Story
John Anthony Radosta, the CEO of Advanced Sports Technology, introduces the National Association of Bubble Soccer to the Sharks, showcasing a new and entertaining twist to traditional soccer. The company has rapidly expanded, with 40 affiliates across the United States running leagues and events. Radosta got inspired by viral videos from the United Kingdom and Australia, leading him to bring the concept to the U.S.
The sport attracts two main demographics: those seeking a one-time experience at private events and parties and league competitors who actively participate each week. The company aims to be a one-stop-shop for bubble soccer enthusiasts, providing equipment and support for both private and league-based events.
The Product
The core product is the inflatable bubble, which costs between $150 to $160 to manufacture. Advanced Sports Technology sells these bubbles in packages ranging from $4,000 to $16,000, targeting entrepreneurs interested in investing in a bubble soccer business.
The company generates revenue through equipment sales, league partnerships, and a lead generation/referral system. Affiliates, located in various cities, work exclusively with Advanced Sports Technology to run leagues and events. Private events like birthday parties generate $300 to $500 per event.
The business model includes ongoing revenue streams from lead generation and extended warranty programs, with affiliates paying $90 to $120 per month. The CEO emphasizes the potential for growth, citing a 38% monthly increase in revenues.
How It Went
The company’s position before Shark Tank
After 13 months in the market, Advanced Sports Technology reports total sales of $355,867. The company has a technology infrastructure that needs support, indicating a tech-oriented aspect to their operations. The business is currently on track, projecting $430,000 in sales for the current year, with a free cash flow margin of 23%.
The CEO outlines plans for future growth, estimating revenues between $683,000 and $742,000 for the following year. The company relies on a network of affiliates to run leagues and events, providing a steady stream of revenue from equipment sales, lead generation, and extended warranty programs.
The Negotiations:
The negotiations did not go well, with Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John, and Barbara Corcoran all deciding not to invest. The main points of concern included confusion surrounding the business model and the lack of clarity in the entrepreneur’s presentation. The Sharks expressed skepticism about the scalability of the business and questioned the viability of the bubble soccer leagues.
The entrepreneur failed to provide a clear and convincing argument for the investment, leading to a unanimous decision from the Sharks to pass on the opportunity. Despite the setback, the CEO remains optimistic, acknowledging the intelligence of the Sharks while attributing the decision to a mistake on their part.
