Electra Drink Net Worth – How Much Is Fran Harris Worth?
The sports drink industry is dominated by giants like Gatorade. But a former WNBA player is challenging the status quo with her healthy brand of hydration beverages, called Electra. The company was featured on the popular Shark Tank business show, where it landed a deal with Barbara Corcoran.
The Electra Drink was founded by Fran Harris. She created the beverage after realizing how many calories and sugar were in her favorite sports drinks. Her goal was to develop a healthier version with the same great taste. Her products are designed with physical wellness in mind and contain a blend of electrolytes. The drinks also help to rebuild the body’s depleted potassium.
When Electra came on Shark Tank, Harris was looking for $200,000 in exchange for 20% of her company. She pitched the Sharks on her product and its unique features, as well as the market potential for a healthier alternative to the big brands. Her confidence and story won over the Sharks. They invested $100,000 cash and a $250,000 line of credit for 30% equity in her business. The deal was contingent on Harris landing a celebrity athlete to promote her drinks.
After her appearance on Shark Tank, Electra grew rapidly. Its sales jumped by more than 35% in just three months after the episode aired. The company also donated 10% of its profits to STEM and financial literacy programs. This helped boost the brand’s visibility and popularity in the market. Electra is now available in more than 30 states and has over 1 million registered customers.
In 2022, Electra’s net worth might reach $1.1 million. The former WNBA player is the founder and CEO of the Dallas and Austin-based health drink company. She has been a regular guest on TV shows and is also a life and business coach. She has also written several books on entrepreneurship.
The company’s website currently lists a number of retail and online outlets. They are expanding their product portfolio to include powdered drink mixes. Harris has also partnered with 172 Heb supermarkets in Texas to sell her e-store products.
However, it is unclear whether the business still has a connection to Barbara Corcoran. The company has not been active on Twitter, Facebook, or Instagram since summer 2022, and it is not updated on the Barbara Corcoran website for her business list. The business may have run out of steam, or it could be waiting for a better investment opportunity. Either way, if it is still in business, it will continue to grow at a slow pace.