Lesson-Learned from 'Shark Tank' and Growth Strategies for Fitness Brand Stakt: Quitting Day Jobs Post-TV Appearance
Millie Blumka and Taylor Borenstein, two entrepreneurs without a background in the fitness industry, introduced a revolutionary fitness mat named Stakt on 'Shark Tank' in 2022. The mat, more than just a simple exercise mat, functions as exercise equipment and reflects a larger shift towards functional, space-saving equipment designed for hybrid fitness routines.
The Stakt mat, which can double as a step and add variety to workouts, has gained popularity for its versatility. However, it's important to note that, like any fitness product, it may not be the best fit for every individual; there are various preferences for different fitness mat brands.
After their appearance on 'Shark Tank', Blumka and Borenstein left their jobs to focus on Stakt full-time. The experience taught them the importance of simplifying their message and clearly communicating the value of their product. This approach broadened their demographic reach, including the 45-plus woman who uses it for support.
Despite not securing an investment deal with Lori Greiner or any other Sharks, the exposure significantly helped grow their business. In fact, the 'Shark Tank' appearance brought three million eyes to Stakt and resulted in significant revenue.
Stakt's value proposition for B2B is convenience, easy to clean, and long-lasting. As a result, the mat is currently in around 450 fitness studios and plans to expand further into the studio market. The founders aim to make every studio feel like a true partner and a relationship, not just a sale.
To support seasonal activations and regional presence, Stakt maintains brand presence at events and hotel partners through their locker network. This strategy has allowed them to establish a presence in locations such as the Hamptons.
Stakt has also taken on outside capital, but on their terms, with investors coming from their industry and having built similar businesses before. The founders continue to balance visibility with sustainability in their growth strategy.
The 'blue bag program' allows partnerships with brands, studios, instructors, and hosting events in cities across the US including New York, LA, Miami, Chicago, Austin, Philly, and the Hamptons. This program has been instrumental in expanding Stakt's reach and establishing their brand in the fitness industry.
In conclusion, Stakt is more than just a fitness mat; it's a versatile piece of exercise equipment that's helping to shape the future of hybrid fitness routines. Its success story serves as an inspiration for entrepreneurs, demonstrating the power of a clear, compelling message and a commitment to quality and customer needs.
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