In the world of fitness technology, Metric Mate has made waves with its innovative approach to workout data tracking. The company, which appeared on the popular show Shark Tank, offers a smart device that transforms regular gym equipment into intelligent, data-tracking machines. This article delves into the journey of Metric Mate post their Shark Tank appearance – exploring the company’s growth, challenges, and current status.
We’ll examine how the company navigated the post-Shark Tank waters, what changes it has undergone, and its position in the competitive fitness tech market today. Join us as we unravel the story of Metric Mate after Shark Tank.
What Is Metric Mate?
When Metric Mate first made its appearance on Season 14 of Shark Tank, it was clear that the fitness industry was about to undergo a significant transformation. Armed with the ambition to turn any gym equipment into “smart” equipment, the company has since been on an exciting journey.
Pros:
- Metric Mate’s most significant advantage is its innovative approach to fitness. The technology it presents is a fresh concept in the wellness and fitness space, and it’s clear that this is a product for the modern, data-driven fitness enthusiast;
- The device’s ability to transform any gym equipment into a smart device is another strong selling point. This feature allows users to track their progress and set achievable goals based on real-time data, making the workout experience more personalized and efficient;
- Another plus point is the company’s growth potential. Despite its challenges, Metric Mate is reportedly making under $ 5 million and showing promising growth. This indicates that the product has found a niche in the market and has the potential to continue growing, which is a positive sign for both investors and users;
Cons:
- Despite these advantages, Metric Mate has faced criticism on several fronts. The most notable of these criticisms is its marketing and branding strategy, which some have described as “terrible”. The app was also criticized for its aesthetic appeal, suggesting that while the technology may be innovative, its presentation leaves much to be desired;
- Another potential downside is the highly competitive nature of the fitness space. Although Metric Mate’s innovative technology sets it apart, it also needs to contend with a multitude of other fitness products and services. This competition could potentially hinder the company’s growth and market penetration [2];
How Does It Work?
Metric Mate unfolds as an accountability platform for training, offering two innovative products to assist customers in elevating their strength training regimen: the TAP Sensor and the TAP Assessment [4].
The TAP Sensor serves as an intelligent device that interfaces with strength training equipment, including selector-weight machines and free weights, to meticulously record key session metrics. This includes data on repetitions, sets, calorie expenditure, force exertion, muscle fatigue, rep speed, power levels, and various other parameters.
The TAP Sensor is effortlessly utilized and incorporates a detachable pin for selector-weight apparatus and a clip and strap for free weights. By converting any strength training equipment into ‘smart’ gear, the TAP Sensor empowers users to gain deeper insights into their workouts.
It includes 3 – 5 activities and supplies a baseline and progress report, effectively demonstrating how training efforts are paying off. The TAP Assessment proves invaluable for personal trainers, physical therapists, strength coaches, sports programs, and anyone keen on tracking and enhancing their fitness journey.
Apart from catering to personal trainers, Metric Mate conducts monthly and quarterly competitions for its users. Participation in these contests necessitates users to complete TAP Assessments at 30-day intervals. These competitions foster an added layer of motivation and responsibility, coupled with the prospect of earning accolades and rewards for their diligence and accomplishments.
Metric Mate emerges as an extensive and innovative platform that empowers users to uplift their strength training regime and realize their fitness aspirations. With the TAP Sensor and TAP Assessment, alongside resources and tools for personal trainers and competitive prospects, Metric Mate is an indispensable companion for those aspiring to take their training to the next level.
Physical therapists can harness the potential of Metric Mate to deliver positive outcomes even with limited resources and time. This technology allows for personalized attention and custom strategies based on data-driven techniques. In the era of cutting-edge rehabilitation, the emphasis is on improving results, ensuring patient compliance and safety, and returning athletes to pre-injury performance levels.
Metric Mate provides the means to compare an athlete’s force-time curve and kinematics, thus evaluating force application during specific phases of motion. This insightful data facilitates the identification of kinetic performance gaps and the formulation of recommendations to enhance performance.
Metric Mate goes beyond immediate force measurements, offering data on the force applied over time for multiple repetitions and the range of motion. This information empowers therapists to aid patients in boosting force production, muscle endurance, and overall recovery. By entrusting this data to a skilled expert, patients can expedite their healing process.
In addition to its products, Metric Mate extends a plethora of tools and knowledge to assist physical therapists [6]. The Guided Workouts feature enables therapists to instantly upload a patient’s prescribed workout regimen into the app, fostering recovery from any location. The app analyzes resistive velocity, provides real-time feedback on the pace of muscle contractions, and offers a selection of free weight workouts designed to mitigate the risk of re-injury.
Strength and conditioning coaches find a valuable ally in Metric Mate. This platform facilitates the creation of an accountability culture within the team. By granting access to the same data and promoting consistent communication using a shared vocabulary, coaches ensure that everyone is aligned on performance improvements and consistency. This proves especially significant for strength coaches who have extended contact with athletes over the course of a year.
Furthermore, Metric Mate allows coaches to monitor athletes’ effort and dedication, even when it might not be apparent to others. By meticulously recording and tallying each repetition, coaches can identify potential stars and make informed decisions regarding the depth chart, eligibility, playing time, and future potential.
One significant advantage of Metric Mate is its potential to monetize expertise and expand reach without consuming additional time. Coaches can upload their personalized workouts (WODs) to the Guided Workouts feature, and athletes can follow along from anywhere.
These workouts are complemented by the coach’s voice and motivation, delivering a personalized experience that not only enhances their reputation and relationships with new athletes but also broadens the potential client base. By analyzing the data derived from these workouts, coaches can identify athletes’ preferences and passions, subsequently providing more of those elements to drive daily improvements.
The Guided Workouts feature allows trainers to publish their own workouts or WODs, enabling clients to follow along from any location. These workouts are complemented by the trainer’s voice and motivation, ensuring a personalized experience. Not only does this enhance the trainer’s reputation and client relationships, but it also broadens their reach and potential customer base.
Metric Mate fosters direct collaboration with remote clients, providing them with the metrics and accountability necessary to stay motivated and on track. It produces results within seven days and can be employed with both in-house and out-of-town clients. As a personal trainer, you have the responsibility of devising fitness plans tailored to your clients’ unique goals, alongside strategies to promote client accountability throughout their fitness journey.
Metric Mate streamlines this accountability through its user-friendly platform, allowing you to pre-program routines and notify clients when new workouts are available. The app can also adapt suggested exercises based on equipment availability and the optimal sequencing for the facility the client is attending. This flexibility ensures that clients have access to your expertise at any time, from any place.
In the event that a client is not achieving weight loss goals despite following a calorie-restricted diet and regular exercise, Metric Mate can track progress and identify issues. The platform’s data offers insights into what is working and what needs adjustment to help the client reach their goals more effectively. Metric Mate is an all-encompassing solution for personal trainers, equipping them with the tools and resources needed for success while elevating their clients’ training to the next level.
Who May Benefit From Using Metric Mate?
Metric Mate could be beneficial to a wide range of individuals, including:
- Fitness Enthusiasts: Those who regularly work out and want to track their progress in an efficient, data-driven way would find Metric Mate extremely useful. It allows users to measure their performance and set achievable goals based on real metrics;
- Personal Trainers and Fitness Coaches: This tool can assist trainers in monitoring the progress of their clients. It provides detailed information about each workout, making it easier for trainers to plan and adjust training routines according to the client’s progress;
- Gym Owners: By integrating Metric Mate into their gym equipment, owners can offer a value-added service to their customers. This could potentially increase customer satisfaction and retention;
- Rehabilitation Centers: In a rehabilitation setting where tracking progress is crucial, Metric Mate can provide precise data about a patient’s exercise routine, assisting healthcare professionals in creating effective treatment plans;
- Sports Teams and Athletes: Metric Mate can be a valuable tool for athletes and sports teams. It can help them monitor their performance, identify areas of improvement, and optimize their training regimes [8];
About Founders Of Metric Mate
Metric Mate is an innovative platform that democratizes strength training, enabling users to transform any equipment into intelligent gear. With Metric Mate, individuals can effortlessly monitor their repetitions, series, and weights, facilitating more precise gauging of progress and goal establishment.
However, M-T and his team did not embark on this venture in isolation. It truly does require a collective effort [9].
They form an integral part of Goodie Nation, a robust foundation for entrepreneurs. It’s a community of kindred spirits who comprehend the trials of launching and nurturing a business. Goodie Nation offers a support system, an array of assets, and indispensable mentorship for any enterpriser.
M-T and his team have received continuous backing from Goodie Nation as they navigate the complexities of running a business and strategically expanding Metric Mate into the prosperous enterprise it is today.
Recently, M-T Strickland, in concert with his partners, Braxton K. Davis and Ecleamus Ricks, Jr., made an appearance on the show Shark Tank.
The Pitch Of Metric Mate At Shark Tank
Strickland, Davis, and Ricks entered the Shark Tank seeking $ 100,000 for a 5% equity stake in their innovative product [10]. The trio presented their impressive product, with Mark Cuban expressing his appreciation for the smart equipment and its cool features. Notably, all three entrepreneurs boast an impressive total of 8 degrees among them.
Their current focus is on personal trainers due to limited funding. The product has a manufacturing cost of $ 99 per unit for a production run of 1,000 units and retails for $ 199 [11]. However, selling it directly to consumers requires obtaining 5 government certificates, adding to the complexity.
After their pitch, the Sharks weighed in on the investment opportunity. Mark Cuban, while acknowledging the product’s appeal, felt it wasn’t the right fit for his portfolio and opted out. Lori Greiner expressed the need for simplification and declined to invest. Barbara Corcoran thought it was too early for her and also passed. Tony Xu shared a similar sentiment about the timing and chose not to invest.
Kevin O’Leary, known for his sharp business acumen, made an offer, but it wasn’t for Metric Mate. He mentioned his investment in “PRX Performance” from Shark Tank Season 7 and proposed using that infrastructure to manufacture Metric Mate. Kevin’s offer was $ 100,000 for a 25% equity stake. In response, the entrepreneurs countered with a proposal of $ 100,000 plus a $ 150,000 line of credit for 12.5% equity. However, Kevin found this deal unworkable and declined.
The entrepreneurs then made a final counteroffer of $ 200,000 for 20% equity while also leveraging the benefits of PRx Performance. Kevin O’Leary, sticking to his initial offer, insisted on $ 100,000 for a 25% equity stake.
The negotiations ended without a deal being struck, as the entrepreneurs and Kevin couldn’t agree on the terms.
Metric Mate After The Shark Tank
Making an appearance on Shark Tank can serve as a significant launchpad for Metric Mate, propelling them toward greater opportunities and visibility. As of now, the company’s Twitter following stands at a modest 28, but this number is likely to surge following their appearance on the show!
In the highly competitive fitness industry, Metric Mate faces its share of challenges, but success stories like Simply Fit Board and Kodiak Cakes, both of which emerged from Shark Tank, demonstrate the potential for growth. Metric Mate holds promise, especially as a valuable tool for college athletes and coaches. The decision to decline Mr. Wonderful’s offer may present a challenge, but, as Mark Cuban pointed out, sometimes a significant share of a watermelon is more valuable than 100% of a grape.
The Net Worth Of Metric Mate
Alternatives To Metric Mate:
- Relish: Although not much information is available about how Relish directly competes with Metric Mate, it’s listed as a potential alternative;
- Health Union: Health Union is a digital health company that creates condition-specific online communities where patients can connect with each other and share their experiences;
- Fever Smart: A smart thermometer that continuously monitors body temperature, sending real-time alerts to connected devices. While it doesn’t offer workout tracking, it does provide health monitoring, which could appeal to health-conscious consumers;
- Tendo: Tendo is a company that provides a system for performance analysis in weightlifting. Their product measures speed, power, and strength during a workout, offering similar functionality to Metric Mate;
Other companies, such as Cabinet Health, Cookonnect, Reveler, Medsembly, Payvmnt, Palmly, Illoominus, and Whirl [14], might not be direct competitors as they seem to operate in different sectors of the health and tech industries.
It should be noted that while these companies offer products or services in the health and wellness sector, their offerings may differ significantly from Metric Mate’s focus on transforming gym equipment into smart devices. As such, they should be considered alternatives rather than direct competitors.
FAQ:
- Where is Metric Mate after Shark Tank?
After its appearance on Shark Tank, Metric Mate is still in business and continues to develop its product. However, as of mid-2023, their TAP sensors are sold out, and the devices are still available for pre-order only.
- What is the revenue of Metric Mate?
The company is estimated to be worth around $ 1.5 to $ 2 million in 2023.
- What does Metric Mate do?
Metric Mate is a fitness technology company that developed a patented Training Accountability Partner (TAP) technology. This smart fitness device helps users track their workout progress in an efficient, data-driven way.
- What is the biggest business ever on Shark Tank?
The biggest deal in Shark Tank history was made by Kevin O’Leary ($ 2.5 million for 10% equity) with Zero Pollution Motors, a company that aims to produce compressed-air vehicles. However, the deal fell through after the show when they couldn’t agree on the specifics.
- Is Shark Tank accurate?
Shark Tank provides a dramatized representation of entrepreneurial pitches and negotiations. While some aspects of the show are accurate, such as the entrepreneurs pitching their ideas to investors, other elements are enhanced for entertainment purposes. It’s also worth noting that deals made on the show are contingent on due diligence and can fall through after filming.
- Who are the competitors of Metric Mate?
Several fitness technology companies could be considered competitors to Metric Mate. This includes major fitness tracking brands like Fitbit, Garmin, and Apple with their Apple Watch. There are also gym-specific solutions like Myzone, which provides performance tracking for gym-goers.
- Who is the CEO of Metric Mate?
The CEO of Metric Mate is not specified in the sources provided. However, it’s known that Metric Mate was founded by Braxton Davis, an avid gym-goer who came up with the idea of TAP while working out.
- What is the most successful product turned down on Shark Tank?
One of the most successful products turned down on Shark Tank is Ring, a video doorbell company. After being rejected on the show, Ring went on to be acquired by Amazon for over $ 1 billion in 2018.
- Who is the most successful Shark Tank investor?
While success can be measured in different ways, in terms of net worth, Mark Cuban is the wealthiest shark, with an estimated net worth of over $ 4 billion.
- Is Shark Tank still in business?
Yes, as of 2023, Shark Tank is still airing new episodes and continues to be a popular television show where entrepreneurs pitch their businesses to a panel of investors.
Useful Video: The Sharks Believe Metric Mate Need To Pivot
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