What Happened to GRIND Basketball Shooting Machine After the Shark Tank Pitch?
What is GRIND Basketball Shooting Machine?
The Grind Machine is the world’s first portable shooting machine. It automatically returns the ball to the shooter and even collects botched shots.
Its packing is impressive, compressing to the size of a large duffel bag in about 90 seconds.
This pneumatically powered shooting machine is suitable for installation beneath any basketball goal.
The Grind shooting machine rotates 190 degrees and distributes the ball to five different locations on the court, allowing you to practice like a pro.
Who is the Founder of GRIND Basketball Shooting Machine?
Grind’s founder and CEO is Thomas Fields. He grew up always wanting to be an NBA player in order to better his family’s standard of living.
His father and mother made ends meet by working early morning and late-night shifts.
Fields’ goal was to excel academically so that he could obtain a scholarship and play in the NBA, but he was unsuccessful.
Grind, the world’s first consumer-oriented portable shooting machine, was established by him today.
For the love of the game, Fields may arrive at the gym as early as 5 a.m. to gain access to the school’s $6,000 shooting machine.
It was around two hours before the start of the school day for the children.
Because his family could not afford such a device, he needed to design an escape strategy.
Fields began scribbling a design for a shotgun that may satisfy his need for rounds.
He grew progressively engrossed in it, to the point of obsession with obtaining the solution.
For $15,000, he established a company to produce the Grind shooting machine.
The gadget was released on March 1, 2020, and the company sold $215,000 in five months.
What Happened to GRIND Basketball Shooting Machine at the Shark Tank Pitch?
In less than five months on the market, Grind Basketball has already sold $215,000 in shooting machines through pre-sales. The Grind Machine, which is manufactured and distributed, is priced at $1,795.00 and has payment options.
Fields contacted the tank with a $250,000 offer in return for a 5% stake in his company. This equates to a $5 million valuation.
Although the Sharks liked his zeal and effort, Lori Greiner, Kevin O’Leary, and Alex Rodriguez backed out because they felt GRIND did not fit their portfolio.
Barbara Corcoran, on the other hand, was ready to make an offer and clinch a deal with Fields.
The problem was that she knew very nothing about sports and needed help from someone like fellow Shark Mark Cuban.
As a consequence, Barbara and Mark formed a partnership and offered $250,000 in return for a 30% stake in the company.
While Fields was pleased to have Mark as his Shark, he was not willing to depart with so much equity, so he asked the Sharks to reconsider their offer.
Mark and Barbara then reduced their offer to $250,000 for a 25% stake, equating to a $1 million valuation.
Although Fields was first hesitant, he eventually accepted their offer and completed the deal.
What Happened to GRIND Basketball Shooting Machine After the Shark Tank Pitch?
The first round of pre-orders has been completed since the program aired on Shark Tank, with the second batch set to arrive in Summer 2021, followed by a third fulfilment in Fall 2021.
So far, the GRIND Machine has gotten positive feedback.
Some people describe it as the best investment they’ve ever made, while others describe it as a game changer. GRIND’s web store now sells other products such as shirts, hoodies, and shorts.
What is the Net Worth of GRIND Basketball Shooting Machine?
Fields contacted the tank, requesting $250,000 in exchange for a 5% stake in his company. This equates to a $5 million valuation.
Mark and Barbara made him a $250,000 offer for a 25% stake in the company, which translates to a $1 million valuation.
Who are the Competitors of GRIND Basketball Shooting Machine?
There are no known competitors for GRIND.
GRIND Basketball Shooting Machine FAQS
Did GRIND basketball get a deal on Shark Tank?
This former high school basketball player created a portable shooting machine that drew a large investment from Shark Tank’s Mark and Barbara.
Who is the owner of GRIND basketball?
Thomas Fields, 26, is the founder of the sports equipment company GRIND.
What is the value of grind basketball?
Mark and Barbara made Thomas Fields a $250,000 offer for a 25% stake in their company, which is worth $1 million.
Which episode was GRIND basketball featured?
On May 7, 2021, the episode GRIND Basketball aired.
How much money did the owners of grind basketball make from shark tank?
Mark and Barbara made Thomas Fields a $250,000 offer for a 25% stake in their company.
How do they make money?
They generate money by selling items such as The Grind shooting machine, t-shirts, and shorts.
Why did they need to do this show?
The firm was in its early stages and required funding to broaden its reach.
What has happened since the show?
Since the show aired, the firm has been satisfying pre-sale orders.
Where can they buy GRIND Basketball Shooting Machine?
It is a portable shooting machine that may be ordered from their website.
How much does grind basketball make?
In less than five months on the market, the company earns $215,000 in pre-sales.
What is the weaknesses of GRIND Basketball Shooting Machine?
There is no patent on the product.
Where are they Located?
The headquarters of GRIND Machine are in California, USA.
Is the GRIND machine self-rotating?
The GRIND machine, on the other hand, is manually turned and passes through five positions on the court (top of the key, free throw line extended, both corners).
A little lever at the bottom is used to change the placement of the spots.
How is the GRIND shooting machine powered?
The GRIND Machine is currently powered by a standard US electrical socket and does not include a battery. A third party will be required to get an extension cable.
What is the weight of the GRIND machine?
The GRIND Machine weights around 110 lbs. It compresses into a duffel bag with two wheels for easy transportation and storage.
Loading and unloading the GRIND Machine in their automobile may necessitate the aid of two people.
Is the GRIND machine weather-sensitive?
Yes, the GRIND machine has electrical components that should be kept dry in the event of rain, sleet, or snow.
What is the price of the GRIND machine?
The GRIND Machine costs $1795 with tax and shipping.
Is it possible to cancel their order?
Yes, if customers need to cancel their order before it ships, GRIND will repay their purchase. A refund may take up to ten business days to be applied to their account.
Why is the GRIND Machine taking so long to ship?
GRIND is a new firm that needs pre-orders before it can start manufacturing. They may begin manufacturing the gadgets after they have received a significant number of pre-orders.
Can they return my GRIND machine once it has been received?
Yes, GRIND has a 30-day return policy that starts the minute the equipment is delivered. They have the option to return their item for a full refund if they are displeased with it.
They will be responsible for shipping charges after 30 days, and a $200 restocking fee will be deducted from their return.
Please allow them up to 5-10 business days to inspect the equipment and execute their return.
Can they get my GRIND machine sooner than the expected delivery time?
All Batch 2 pre-orders will be completed in the summer of 2021.
All Batch 3 pre-orders will be completed in the fall of 2021.
The fourth batch is planned to sail in the spring of 2022.
Because GRIND has created a unique product, production and logistics must be built and completed.
What is the maximum number of balls that the GRIND machine can hold?
At the moment, the GRIND machine can only process one ball at a time. They have a “No Standing Rule” that requires them to move while waiting for the next pass.