Investor: Daymond John
Shark Tank Appearance: January 29, 2016
Offer: $250,000 for one-third stake in the business
Results: Sales grew from $220,000 in 18 months to over $1.5 million in 2016.
To prepare for their January 2016 Shark Tank appearance, SheFit founders Sara Moylan and her husband Bob meticulously studied the ABC hit show. "We watched every episode and compiled a list of every question the Sharks ever asked," Sara explains. "I devoured every book the Sharks wrote and every interview they gave. Then we practiced mock interviews with our mentors. I was determined we wouldn't be caught off guard."
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Their preparation paid off. For over an hour—edited down to nine minutes on air—the Grand Rapids, Michigan couple fielded dozens of tough questions with poise. When Lori Greiner questioned the strength of their patents, Sara felt a momentary shake in her confidence. "I had to regain control by steering the conversation back to our strengths," she recalls. She highlighted SheFit's innovations in the $3 billion sports bra market.
"Take business one step at a time. When you're successful, opportunities come from all directions."
Daymond John was impressed by their dynamic. "Sara and Bob really stood out," he says. "They knew their numbers cold. It was a strong team with clear roles. They stayed cool under pressure, and their passion was palpable. All the pieces fit perfectly." The Moylans had anticipated every scenario, including John's counteroffer: one-third equity instead of the 25% they pitched, with an immediate decision required. They agreed on the spot.
One surprise was the order surge. "We had over 4,000 units in inventory before we even finished pitching—they sold out instantly," Sara says. "In the following weeks, we cleared 16,000 more units set to arrive end of April."
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Far from overnight success, SheFit's roots run deep. Sara, a former Miss Teen USA and Mrs. Michigan America, was a fitness competitor and mother of four daughters (ages 4 to 13). Frustrated by inadequate support from multiple bras during workouts—especially while breastfeeding her first child—she prototyped her own by hot-gluing fabric layers. "It was ugly and fell apart in the wash due to the glue," she admits, "but it worked. I found a seamstress to refine it."
Sara and Bob built successful sales careers—hers in medical devices, his in industrial chemicals—before launching SheFit. It started when Sara shared prototypes with friends. "Everyone had improvement ideas and refused to return them," she laughs.
Over a decade, they invested nearly $400,000. By their Shark Tank audition, they boasted hundreds of glowing online reviews but struggled with 18-month manufacturing lead times from Los Angeles to overseas factories. "We streamlined what we could through trial and error," Bob says, "but needed expertise to scale."
Post-deal, John's team provided hands-on guidance. "They helped with sourcing, suppliers, and expediting production," Bob notes. "Turnaround dropped from months to 60 days—a game-changer." Now with serious momentum, Sara adds, "We have exciting new products in the pipeline."
John's advice: Stay focused. "Advance one step at a time," he counsels. "Success brings distractions. Prioritize and finish what you start."
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This article originally appeared in the April 2017 issue of SUCCESS magazine.
