Electra Supernatural Hydration Before Shark Tank
Electra Supernatural Hydration is a sports drink that is used for rehydration during athletic moments or just everyday tasks. Electra sports drinks are packed with the necessary electrolytes, antioxidants, amino acids, vitamins, and minerals needed to give ones immune system a boost. While sports drinks containing sugar are often looked at as being “unhealthy”, Electra sports drinks still contain sugar; however, it is a minimal amount. With that, the only sweeteners used in these hydration drinks are Munk fruit. Munk fruit is a healthy alternative to the added sweeteners that are in other sports drinks. This drink comes in a variety of three flavors” Litty Lemonade, Oh Yeah Orange, and Passion Punch. A single 16-ounce bottle of Electra only contains 60 calories and consists of one key ingredient: watermelon water.
Fran Harris is the founder of Electra Supernatural Hydration. She founded her company in 2020. Before becoming an entrepreneur, Harris was an athlete. She started out by competing with the University of Texas into winning the 1986 NCAA championship. In 1997, she went on to play in the very first championship of the Houston Comets’ during the WMBA. After graduating from the University of Texas, Harris became an ESPN analyst, as well as a coach for college basketball. From there, she went on to work with Proctor and Gamble as a health and beauty sales executive. As a woman working in the sports industry, Harris often felt concerned by the available rehydration drink options she’d see in stores. She’s always consumed these beverages herself; however, she was frustrated with how unhealthy they were. As were other athletes.
After looking further into the nutrition labels of the other sports drinks, such as Gatorade, Harris found that many of them contained artificial ingredients such as food colorings and copious amounts of salt and sugar. Ingredients that were more likely to leave athletes dragging throughout their day rather than providing them with the boost of vitamins they need. This discovery led Harris to create her own healthy alternative to these beverages. She wanted her sports drink to have a minimal amount of the ingredients present in Gatorade and she wanted the beverage to give athletes and busy individuals the nutrients they need to get through their workouts, games, or even just their days. This is when Electra Supernatural Hydration was born.
Early 2020 is when Harris officially launched the Electra business. She kicked off the business with an IndieGoGo campaign, where she successfully raised $7,212. Shortly after concluding this campaign, Harris went on to do a WeFunder campaign, during which time she had raised $40,000. After just a few months, Electra Supernatural Hydration was already getting the attention of fitness advocates, athletes, trainers, and even boxing champions. All of whom only have positive feedback about this new company. While trying to get her newfound business off the ground, Harris was also working on a variety of other projects. For instance, she mentors basketball players, coaches’ teams, provides motivational speeches, and works with her LLC, Fran Harris Enterprises. This business is a trading firm where Harris works with sports facilities.
In 2021, Harris made plans to take on Shark Tank with her new sports drink. For new businesses, this is a huge step, and it can be stressful trying to impress the sharks. Nonetheless, Harris is not new to the world of television, nor is she new to impressing people. Aside from being a professional athlete, Harris has made appearances on a variety of outlets such as Today, CNN, MSNBC, CNBC, and Good Morning America. So, why would a success as herself want a shark’s investment? Although Harris believes that Electra will take off and reach $30 million in sales within just three years, she would like a shark to assist her with the company’s retail distribution.
Electra Supernatural Hydration on Shark Tank
Fran Harris makes her debut on Shark Tank in search of a $200,000 deal in exchange for 20% equity in Electra Supernatural Hydration. Beginning her pitch, Harris tells the sharks about herself before giving each shark a sample of the sports drink. She then mentions that she has not made much in sales because the Electra business is still too new. Hence why she wants a shark’s help with a variety of things such as sales and production. Though the sharks do appear to like the drink, they also have some concerns considering it is within the beverage industry. The sharks think it will be too much of a challenge to get the business up and running. Due to how competitive the beverage industry can be most of the sharks were not interested in getting involved with Electra. In fact, all except for Barbara Corcoran almost immediately dropped out of the deal.
Mark Cuban went out after giving Harris props for the flavor of the sports drink. He was also impressed by the nutrition label and how healthy Electra was in comparison to other sports drinks. Cuban may have been interested in investing at one point; however, his previous investment in a similar company has prevented him from doing so. Lori Greiner, overall, is a fan of Harris. She praised her for her confidence and her bravery towards taking on a competitive business opportunity. Nonetheless, Greiner doesn’t feel that Electra is the type of investment for her. The last two sharks to drop out were Kevin O’Leary and Daymond John. Both of whom were too skeptical in the success of Electra to want to risk investing in it.
With Barbara Corcoran being the only remaining shark, she asks Harris what she plans to do with the investment. The founder responds, saying that she plans to spend about $25,000 on her research and development and $30,000 on keeping her inventory stocked. She adds that any remaining portions of the investment will be used towards bettering her marketing and sales. Corcoran must have liked this response as she goes to offer Harris a $100,000 deal for a 40% equity in Electra, as well as a line of credit for $250,000. Harris counter-offers Corcoran for a 25% stock, but the shark isn’t willing to drop past 30%. The founder revealed that she has been in contact with multiple Hall of Famers who are potentially interested in investing in the business. Corcoran’s final offer is $100,000 in exchange for a 30% equity and a $250,000 line of credit. Harris accepts this deal and Electra Supernatural Hydration leaves with a deal with Barbara Corcoran.
Electra Supernatural Hydration Now in 2023 – The After Shark Tank Update
As of December 2023, Electra Supernatural Hydration remains in business and appears to be doing good. While there have been mentions of the deal with Barbara Corcoran closing, there have also been remarks that the founder and the shark may still be in negotiations. Given that, it’s unclear as of right now if they are still partnered for sure. Following Harris’ Shark Tank appearance, she was able to finally launch the company’s website, where the beverages can be found currently. The Electra business has been upping their presence quite a bit by launching a few merch items such as bottles, t-shirts, and caps. Additionally, the founder has introduced a powdered option for Electra sports drinks, which can also be found on the website. Although Electra has not made any big success as far as being retailed in physical stores, it has been said that the business has reached $23 billion, and they now have released a commercial for the product. Harris claims that this is just the beginning of her business, so it’s safe to say Electra Supernatural Hydration will continue growing soon.