In Episode 608 of Shark Tank, Ashley Drake, Army Corps of Engineers Captain, pitched her company ‘The Natural Grip.’ After the pitch, Robert invested $125,000 for 25% of the company. In Beyond the Tank Episode 108, ‘The Natural Grip’ had an update segment.
In this piece, I will run you through everything there is to know about ‘The Natural Grip’ — what exactly is ‘The Natural Grip,’ ‘The Natural Grip’s’ Shark Tank pitch & ‘The Natural Grip’s’ update after Shark Tank.
What is Natural Grip?
The Natural Grip is a protective and reusable hand grip that allows athletes to get a better grip during weightlifting and pull-ups. A key differentiator of The Natural Grip is that it is custom-made — using a ring finger size to ensure proper fit.
The Natural Grip is made of Zinc Oxide 100% cotton tape, making it super strong and less bulky than other leather grips. Reusability is a crucial feature of The Natural Grip since the tape can be replaced if damaged.
The grips come in different colors so people can coordinate them with the color of their workout clothes. Generally speaking, The Natural Grip has a life of 3 to 6 months.
The Natural Grip Shark Tank Pitch
Ashley, the founder of ‘The Natural grip,’ enters the room with Danielle Sidell, a CrossFit athlete. After entering the room, Ashley asks the sharks to “get a grip.”
She then informs the sharks that she is seeking $100,000 in exchange for 20% of her company. After Ashley introduces the product to the Sharks, she gets Danielle to jerk 165 pounds and do a few bar muscle-ups.
Once Danielle is done with her demonstration, Ashley hands out grips to the sharks, who try the grip themselves. Robert even does a few pull-ups.
Ashley informs the Sharks that she did $178k in sales last year. When Roberts inquires how her product differs from others, she says that she has a patent for reusable tape grips based on ring finger size. She also informs the sharks that while ‘The Natural Grip’ costs $4.32 to make, she sells them for $17, which means it is a high-margin business. The money she needs from sharks would help her ramp up manufacturing.
Lori says she is out because she is not passionate about the business. Kevin tells Ashley he is out. Mark says he likes what Ashley is up to but doesn’t see what comes next, so he bows out too.
Robert and Daymond both give offers to Ashley. Robert offers $100k for 30%, while Daymond says he is willing to provide $100k for 40%. Robert counters by offering $125k for 25%. Daymond drops his offer to $100k for 33% and says he is better with manufacturing and can help “put Reebok on the box.” Ashley chooses to go with Robert’s offer.
What Happened to The Natural Grip after Shark Tank ( The Natural Grip Shark Tank Update )
In Beyond the Tank 108, The Natural Grip had an update segment. As we saw earlier, The Natural Grip had $178k in sales before Shark Tank. A month after the appearance, The Natural Grip made sales of $134k, close to a year’s sale in one month. In four months, the number reached $310k.
In a later review meeting, Ashley and Robert found that the production capability is 80,000, but sales are only at 30,000. Robert advised hiring sales guys to close the gap, and Ashley followed his advice leading to an increase in sales.
However, the company failed later, and Ashley shut down ‘The Natural Grip’ operations in 2018.