FitDeck INC Net Worth Shark Tank Update

Fit life leads to a healthy and happy journey. This fitness cannot be achieved only through limiting ourselves from the perks of our taste buds but also through exercise. However, there is a certain way to do it otherwise it won’t be effective.

Phil Black, the owner of FitDeck, has the right way for the problem. His product is a deck of simple cards with exercises on them. The cards contain all types of exercises with their instruction manuals to make the session simple as well as fun.

The owner came on the show with his product to ask for $300K for 20% equity in his company. He also gave each judge a specific type of deck of cards in accordance to their personality, to make an impression. Let’s explore his journey on the show.

FitDeck INC Net Worth Shark Tank Update

Phil Black was looking for an investment of $300k in exchange for 20% equity in FitDeck. At the time of the episode, he valued his company at $1.5 million. Unfortunately, he did not secure a deal with any of the sharks, leaving the company’s net worth unchanged at around $1.5 million. After the show was aired, Black continued operating FitDeck, eventually selling it to Implus. As per my rough estimate, the current net worth of FitDeck in 2024 is around $5 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	Out	N\A	N\A
John Daymond	$300K for 20% equity	N\A	N\A
Lori Greiner	Out	N\A	N\A
Mark Cuban	Out	N\A	N/A
Robert Herjavec	Out	N\A	N\A

The Owner’s Backstory

The idea for the product came to him from a card game that he was playing with a roommate at Yale University. The game was called PUG (Pushup Game) and it became a sensation in the university. After graduating he worked in a bank for about 2.5 years. Afterward, he went to Harvard Business School and there combined the concept of cards with business, leading to FitDeck. He is also a father of four kids.

Initial Pitch

The owner demonstrated his product through multiple types of exercise cards. He requested $300K for a 20% equity stake in his company. He added that his sales are basically through the website which constitutes 75% of the total.

Queries about the Product

Initially, Herjavec asked about the cost to make and sell one single unit. Black replied that it cost him $2 to make and he sold it for $14.95.

Kevin then inquired about his sales. He highlighted that 1.5M has already been sold. However, the sales have reached that height in a time span of seven years.

Herjavec inquired regarding his sales last year. He answered that it was about 55K units which makes $640K. But the profit was equal to the cost as the previous year made $750K which shows a decline in the sales leading to no profit.

After Herjavec showed concern regarding his sales, Black highlighted that although their sales are high he uses the earned money for research & development, making videos, and working on the website.

Kevin highlighted that there are already a ton of exercises available online and in apps for free, so they don’t need a $14.45 deck of cards as a replacement. The owner answered that although the internet provides the exercises they are all so scattered, that definitely FitDeck can provide them on a single deck of cards. So, his product has made the work easy for the consumers.

Daymond inquired about his plans regarding the $300K. Black highlighted that most of the money will go into the digital improvement of the product, which is the app. He has been selling the app for the past 5 months already.

Shark’s Response and Final Decision

Cuban was the first one out as the product has already been introduced in the form of an app through various businesses and it won’t be profitable for him to invest in it.

Then Black tried to encourage the other sharks but Daymond put an end to it for the same reason as Cuban.

Herjavec pointed out the same issue of making no money out of such huge sales which eventually led him to drop out as well.

Lori praised his passion and the simplicity of the cards but the difficulty in competing in the fitness market backed her out too.

Kevin highlighted that although his resume is very impressive the cards business is not up to his caliber. He even invited Black back with a free pass on the show with something new to offer. He dropped out too, leaving no sharks to accept the deal.

Product’s Availability

Black was operating even after getting no deals on Shark Tank through online mode. He also created “Shark Tank Bundle”; a three-deck package that retails for $39.95.

After selling his company to Implus, Phil Black moved on to start PrepWell Academy which appeared in Shark Tank season 11.

Conclusion

In a nutshell, Phil Black made an appearance on Shark Tank with a high-level resume which clearly impressed the judges. However, as his product can be replaced by online applications his deal was not accepted by a single shark. He proved himself to be a passionate entrepreneur and came back on the show with another company after selling his first one.