Shaan: And the big thing about that is, like, I wasnt pitching them on my business. . And a big chunk of that you attribute to Shark Tank. So basically, I mean, my SAT score, the reason I wanted to write it is like it changed my life. Shaan received a 640-point boost, resulting in a perfect score and conducting this business concept. I would literally find every reporters email using RocketReach is a great tool for entrepreneurs out there to find peoples emails and I would pitch them. I was like, What if we teach digital marketing courses like we teach Prep Expert courses using the different strategies, etc. He has published 15 books on topics like test-taking and business, which have inspired many students to achieve their ambitions. I think my parents built this sort of discipline into me very early on that I was willing to do it and I knew that it would be temporary. For more on companies and products, make sure to stop by our Season 7 Products Page. You can create whole apps without coding. Were going to tell you not to. All right. Ive tried it. Why did most of the Sharks say no to you? So it was just like the perfect company to go on Shark Tank because we had all of these parents and students signing up for our courses after they saw us on the show. Andrew: Did you used to, like, read about Mark Cuban as a kid? He couldnt believe my face was on the cover of the book. Like, theyll all give me offers. I was so cocky going in. Sean confirmed that he would. You have to supercharge it. Were they call like 2400 Prep or something at the time when he invested? }. As of August 2021, the company is generating $5 million in yearly sales, which is phenomenal growth.. Does Patels growth is aided by the presence of a shark? The net worth of the company is estimated as $4.4 Million currently as it is approximately 4.5 times more as they get into the show at the valuation of $1.25 Million. Shaan: I love that. I thought I was in a dream. Kevin said that Kaplan and Princeton Review spend a lot of their marketing budget on customer acquisition costs. Back in the 1980s, the motel was acquired by Patels parents after moving from India to Las Vegas so that they would have a place to stay and an additional source of income. . Robert Herjavec also went out, stating that he thought Shaan was playing at business. One, who was super disconcerting which was wrote something like I didnt find your persona or writing particularly engaging. A new business concept is discussed in the section. It was like June, July, August, your summer. Contact us: [emailprotected]. . But first, Shaan, you talked about numbers. But now we have a third-party firm. WebWeve identified six states where the typical salary for an Expert Witness job is above the national average. I definitely stayed away from a lot of that because of the alcoholism and the drug abuse that I saw growing up. Lori stated that the electronic content would be a way to scale the business, even if only a certain percentage stick with it. Yeah, yeah. Do you use that service? Shaan thanked her and said that it was A6 week course. . I mean, we talk about how expensive college is. And so thats what the investment was for. Lori asked Shaan if he wanted to be a doctor. Through effort, they opened a motel and paved the way for Shaans success. It has grown to $1.2 million in revenue over four years, with revenue that doubles every year. Ariel enjoys traveling, hiking, unnecessary impulse purchases, and making things with her hands. Its over? Bombas Shark Tank Update 2022, What Happened To LifeBelt After Shark Tank? They now provide a wide range of options for students to choose from, including on-demand video courses, live online classes, individual coaching, and more. He said that the customer wasnt that high school student, but rather the High School parent. Revolights Shark Tank Update 2022, What Happened To Eco Flower After Shark Tank? Lori Greiner worried about Shaans dedication to the business considering the degrees he was seeking, and Kevin agreed that he didnt seem to be enthusiastic about the business. I think a lot of us want to develop but we dont want to learn code or just arent good at it at this point. There have been $1.2 million in sales in the last four years, and he generated 60,000 of sales volumes in the pitching year. Its like ClickWebinar and ClickMeeting. I had a lot of fun chatting today. He said that it was important for him to succeed because his parents have invested so much in him, and he wants to make them proud. After that, he launched his initial kickstart class with 18 students. Let me talk about my second sponsor and then well get back into the story. He says, I scored a perfect score on the SAT and the ACT. So at the point that I was on Shark Tank, I was really kind of maxed out in Las Vegas, like, there was about 600,000 in revenue coming in from that one location or we had two locations at that point in Vegas in person. He said that starting his own business was his most important goal. Daymond said that he didnt think that the business was scaleable. But first, Ill tell everyone my second sponsor is a company called Toptal if youre looking to hire developers. WebPatel went on to found 2400 Expert to help other students prepare for college entrance exams. He accepted an offer from Mark Cuban of $250,000 for 20% thus valuing it at $1.25 million. I know you went very quickly to a couple of million dollars after being off the show, right? Until about six months ago its been in an in-person, classroom-style class in Las Vegas. . You know what? Like you were saying at the beginning, I had a nice little small business coming up and that was really this in-person business that I was building in Vegas originally. If you work with Prep Expert SATs top-notch faculty, you may improve your SAT score and raise your chances of acceptance to some of the nations best colleges. Like, theyre saying, No, you dont have to code. Sure, man. But you know what? Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below. Right? I hadnt really launched online yet. Andrew: I get that. What did you have to do to get a perfect score? Shaan stated that about 40% of the business was online, considering he just started six months ago. Lori went out, indicating that Shaan didnt know which direction he wanted to take as far as being a doctor or being an entrepreneur. . Youll also get to see different apps that are being built and have been built already on Bubble. And no one does this in the test preparation space, but everyone does it in digital marketing. And obviously, every business ownership should do that. . He followed that up by saying that he would like to work twice a week as a dermatologist. Kartik Keshari is a Master's and Bachelors's graduate from Mahatma Gandhi Kashi Vidyapeeth, Varanasi. Right? . So I had . In fact, Im going to let you try it and give you a nice big offer to get going with it. Shaan: Yeah, absolutely. And now you do so many things. casinomir, 2400 (Prep) Net worth Update (Before & After Shark Tank), IcyBreeze Net worth Update (Before & After Shark Tank), Co.ALITION Net worth Update (Before & After Shark Tank), CPAP Machines and Sleep Apnea: The Science Behind the Treatment, 888 Tiger Casino review: a thorough evaluation, What You Need to Know About Seeking Compensation for Wrongful Death, Power Up: The Benefits of Upgrading to A High-Quality Power Cord, Earth Log Net worth Update (Before & After Shark Tank), The Best Shark Tank Products in season 13- Our Youtube poll results reveal the 10 most beloved Shark Tank products, Evan Mendelsohn and Nick Mortons Net Worth: Quick Facts about Tipsy Elvess Owner, Jim Tselikis and Sabin Lomacs Net Worth: Quick Facts about Cousins Maine Lobsters Owner, Jack Barringers Net Worth: Quick Facts about Body Jacs Owner. Whats an Indian cultural event that you went to growing up? And hes a young kid with amazing entrepreneurial skills, a lot of great development skills as well. Andrew: The business has grown. . On his test days, they experience a lack of proper experience, guidelines, mentorship, and study materials, when they researched this topic they found that over 7.5 million students every year give those exams, and only 1,500 students clear them because of a lack of proper resources. He accepted a $250,000 offer from Mark Cuban for a 20% stake, valuing the company at $1.25 million. . Mark said that he might be interested in acqui-hiring Shaan, but he had a few questions. . And I was . Roominate: What Happened after Shark Tank? You also seem to be on anything thats SAT related, like best piece of advice for taking the SAT is shockingly simple. Thats from Business Insider in France, right? But instead of explaining passive versus active in every single version of that, I give students easy, simple to use strategies that made sense to me because I was an average student too. And . So, originally, I mean, I was trying everything. Shaan countered with $250,000 for 15%, but Mark refused. Web2400 Expert/Prep Expert Net Worth Shaan enters wanting $250K in exchange for a 10% stake in his firm. . And it was like . What did you do once you came back? The firm deals with General Practice law and was founded in 1934. And so Id say that the marketing and the investment was just like, the perfect mix of things for us. Why didnt he do what Ive seen him do for others, which is to say, Look. How many people were ahead of you on Shark Tank that day when you applied? I think youll be really happy that you did. Why is he one of the co-authors on your book with Mark Cuban? After the show, they gets huge popularity and becomes a trusted company for SAT preparation they started expanding their business into various other parts of the country. Shaan said that it was exciting because every year theyve doubled their revenue. Shaan: Exactly. You can go check out Bubble. The problem, Shaan argues, is that parents are the ones who purchase products, not investors. And so that was like a blow to my ego and I was just getting knocked down left and right by all those people that are supposed to be experts at what sells in terms of the literary market. Ive seen people on drugs do crazy things. WeWork is such a huge thing now, co-working spaces, but back in 2010, 2011, I was learning about co-working spaces, and it was the perfect setup for teaching because for my tutoring and test prep company, I didnt need an office space with a lease, you know, 24/7 because I would only have students coming in basically for classes a few hours a week. And so, yeah, I mean, I think the power of PR and media is you get to leverage another platforms audience, but on top of that, if they link back to your website, it helps increase your domain authority and help your search engine optimization through backlinks. Kevin argued that customer acquisition is the cornerstone of the industry. The rest I could understand being really painful. Elderly Couple Dies After Unknowingly Buying and Eating Pufferfish, New COVID-19 Booster May be Coming But Public Interest Waning. And thats really where 2400 Expert was born. He came to the Shark Tank seeking $250,000 for 10% equity in his business, 2400 Expert, which helped prepare students for the SAT standardized college tests. Whats his work ethic? What did you have to offer that was so much different. Before Shark Tank, your revenue was from what I understand $600,000. The problem with that is that it often crashed and the internets werent as good four or five years ago as they are today and speed for everyone. . Shaan: The business is called ClearHat Digital Marketing. 2400 (Prep)s founder Shaan Patel has a net worth of 4.4 Million USD as of 2022. . Bubble says, You dont have to code. Will the sharks ace this deal on Shark Tank Season 7? And since then weve done over $20 million in revenue. I was learn . Were going to [inaudible 00:02:25] this company, what happened that allowed him to, first of all, raise money on Shark Tank, and then what happened after he raised money. Super talented guy. Prep Expert has no known competitors. I think they had his place near Wilshire in Santa Monica area. A whopping 2400, literally the perfect score. Find out in our 2400 Expert update. They also tell about the benefits that an average student gets approx. Mark and Shaans partnership has extended to a book for young entrepreneurs, too. . And so, you know, when I was trying to decide what city to start my company and I was like, Well, LA is a bigger city. According to the video, he has generated $20 million in sales. I read the blog post, I see the tweets of people who got rejected. I had a notebook. . Youd have to talk to my marketing team. The reason is, is because it creates passive voice, and passive voice is not preferred compared to active voice. Andrew: Whoa. And you dont need Mark Cuban companies. They do really great work. And I was like, Well, what if I just took what Neil Patel is doing, what all these digital marketers are doing? And I was like, No ones ever seen this in the test prep space. And thats obviously a great way to innovate in a lot of industries, is it takes something from one industry and apply it to the next and weve had great success with that. So, youre nodding, right? Kevin was willing to admit that the product was safe. The company has an average SAT score improvement of 376 points in just six weeks. He got the recipe from his mother and, Kayla Lupean got the idea for Play Maysie Dollhouses on Christmas Day, 2020 when she saw her daughter playing with, By the time Honey Bunchies Bars entrepreneur Kendra Bennett pitches her healthy snack bars in Shark Tank episode 14, Charisse and Vicky Pasche initially created Dapper Boy clothing to express a sense of pride in the LGBTQ lifestyle., BuggyBeds Net Worth 2023 - What Happened After Shark Tank? Guys, the voice you just heard is . I was going to actually have like an HTML-based thing, and then said, Lets just try WordPress. And I did and it worked. Andrew: I like that theyre being a little heretical. I was getting paid to go to college. I intentionally wanted the audience to feel a little bit of discomfort as they were curious about you, but also to draw them in with, like, this whole Mark Cuban experience. Shaan: Yeah. Daymond stated that his entire online operation is teaching live, and Shaan let him know that he would be able to find other teachers to teach the class. Andrew: All right. So there was a place called Blankspaces, I believe. Shaan Patel founded 2400 Expert in 2011. So Blankspaces was the first spot that I had found over . Ive seen a lot . Find out in our 2400 Expert update. Forget about the actual product that Im investing in. The net worth of the company is estimated as $4.4 Million currently as it is approximately 4.5 times more as they get into the show at the valuation of $1.25 Million. They have worked with both Yahoo! ] The video just froze on us. He followed that up by saying that he would like to work twice a week as a dermatologist. And youve done some really interesting key things here that have allowed you to grow. Right? In the year before filming, Shaan made $600,000 in revenue. Net worth is the amount by which assets exceed liabilities. One of the things that you noticed that Mark Cuban was looking for in Shaan was, how good is this guy? I brought in a great team of people. . And so, you know, I knew Ian because he is in the education space, hes in the entrepreneurship space in Vegas, which is a pretty small space in Vegas as you can imagine. . Andrew: Okay. Why Drop Ship Lifestyle? WebNational Merit Scholarship worth $100,000! . if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'bizzbucket_co-leader-2','ezslot_9',137,'0','0'])};__ez_fad_position('div-gpt-ad-bizzbucket_co-leader-2-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'bizzbucket_co-leader-2','ezslot_10',137,'0','1'])};__ez_fad_position('div-gpt-ad-bizzbucket_co-leader-2-0_1');.leader-2-multi-137{border:none!important;display:block!important;float:!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:250px;min-width:250px;padding:0;text-align:center!important}Who founded Prep Expert?Prep Expert is founded and developed by a young Entrepreneur from Las Vegas, Shaan Patel, he was a young success achiever who secured a perfect score of 2,400 on SAT and went to Clark High School for their further studies. I was getting all kinds of parents calling me because they were . Hey, whos Ian McCue? WebBased on the stats for Chris Hogan (finance)'s Youtube channel, the total number of video views is around 6.07 Million, which means Chris Hogan (finance) has roughly made $6,071.00~$12,142.00 US dollars on Youtube already! Certainly, Im sure some percentage of students are doing that, but what we do now is with our online classes, we make sure that were polling every 10, 15 minutes and making sure that students are engaged so that they dont just min [inaudible 00:44:44] our classroom environment and go do what they want to, but they actually stay engaged with the classroom. . Mark informed Shaan that he would be interested in serving as their godparent if he had any other children. Mark still disagrees with the proposal, although Shaan asked for $300,000 to exchange for a 20 percent stake in the company.. Shaan: You know, what was really cool is our accounting book for that was just working my butt off to try to grow the business and revenue. Thats measurable. How much extra revenue? . Prep Expert expanded its business model to grow with the demanding college market, and the company now has $5 million in annual revenue. Its time to pass on his knowledge to the next generation since his company is expanding throughout the country. Actually not most sites. Your parents did what? And so that changed the game. Kevin stated that he didnt believe in Shaan Because he didnt think that he could be a part-time entrepreneur, and Shaan hadnt given him a solution for customer acquisition. I see you got a bunch of links. Right? And it was pretty cool of Mark to be willing to put his name on the book with us and help us for the chapters. All they do thats different from other places is, other places wont make it easy for you to put your ads online or to cull through all the different resumes you get. Who are the Competitors of 2400 Expert/Prep Expert? Shaan: Oh, dude, I am always late to everything. Shaan: Thats been very effective as well. So I brought in some amazing developers, designers, and marketers with the 250 grand. I must have gone through 20 to 30 practice exams and I created strategies. So, I think Mark Cuban is the best sharp partner with because you get really two aspects, one is you get access to the Mark Cuban companies, and then you get access to Mark Cuban himself. Prep expert (earlier as, 2400 expert.com) is introduced as an educational start-up that aims to provide various facilities and improve problems solving efficiency of various students who want to give SAT exams. And thats exactly what happened. . Andrew: Just walking around putting flyers on peoples cars outside of events? . I know the founder from online. Prep Expert is founded and developed by a young Entrepreneur from Las Vegas, Shaan Patel, he was a young success achiever who secured a perfect score of 2,400 on SAT and went to Clark High School for their further studies. What happened to Prep Expert after Shark Tank? And what I did is I basically launched a automated webinar that I teach at Prep Expert for parents. You were still in school at the time. Andrew: And I guess it makes sense then to have a really young entrepreneur in with you guys here writing the book for really young entrepreneurs. Shaan: Yeah. In addition, to assist students in succeeding on the SATs, he established the 2400 Expert as a result of his own experiences. WebThe Measuring Shovel entered the Shark Tank and made a deal with Lori Greiner, Mr. There are like a small Indian community in Vegas that they would like try to make sure that we were a part of, so we didnt get drawn into sort of the community we were actually around. "acceptedAnswer": { And as you mentioned, I was in school, so I couldnt teach all the courses anymore. { Just to give the listeners an idea of like how popular Shark Tank is. Six hundred thousand. Robert wanted to know how much the course cost for the average consumer. And so while they all loved the business, that the numbers were good, its profitable, its growing, they all hated that I wasnt 100% entrepreneur. Everyone wants to go after the bigger market first. And so of course, I was late to the audition. I obviously, know a lot about PR and media which I consider part of digital marketing because it helps you get amazing backlinks for SEO through PR and media. Andrew: And still you did. Shaan has published Kindle test prep guides, and his guide to SAT essay writing has made the Amazon bestseller list. And more satisfying, McGraw-Hill, one of the education publishing giants, saw the momentum 2400 Expert was gaining and offered Patel a book deal. Prepexpert.com. 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