In the world of entrepreneurship, the hit TV show Shark Tank has been a platform for many innovative products and businesses. One such product that caught the attention of the sharks in season 5 was Cerebral Success, a brain supplement created by Trevor Hiltbrand. In this blog post, we’ll take a closer look at Hiltbrand’s journey on Shark Tank and the ultimate fate of his company.
The Cerebral Success Pitch and Deal at Shark Tank
Trevor Hiltbrand, a young entrepreneur, stepped into the Shark Tank with a unique product – a brain supplement he called Cerebral Success. Hiltbrand formulated the supplement based on his own struggles with balancing his social life, sleep, and schoolwork. He initially asked the sharks for $75,000 in exchange for 20% equity in his company.
During the pitch, Hiltbrand revealed that the cost of producing one bottle of Cerebral Success was $10, and he sold each bottle for around $70. At the time of his appearance on the show, his company had already made about $60,000 in sales. Despite these numbers, most of the sharks were skeptical about the product and its credibility.
However, Barbara Corcoran saw potential in Cerebral Success and made an offer. She agreed to invest the requested $75,000 but for a 40% stake in the company. Corcoran’s offer was contingent on Hiltbrand obtaining liability coverage for the product. After some negotiation, Hiltbrand accepted the deal.
Cerebral Success Is Gone Out of Business
After his appearance on Shark Tank, Trevor Hiltbrand took the necessary steps to move his business forward. He conducted the required testing and obtained liability coverage for Cerebral Success, as per Corcoran’s condition. The product was rebranded as Smart X and made its way into over a thousand GNC stores nationwide.
Despite this initial success, the journey of Cerebral Success was challenging. The product faced criticism from several sharks during the pitch, with some questioning its ethics and credibility. One shark even went as far as to label it “dirty money.”
In an effort to prove the effectiveness of Smart X, Hiltbrand conducted a small study. The results were promising, showing that the supplement positively impacted focus and productivity. However, this was not enough to sustain the business in the long run.
In 2019, after several years of operation, Cerebral Success officially closed its doors. The exact reasons for the company’s closure are not known, but the challenges faced in the competitive supplement market likely played a role.
What Was Cerebral’s Net Worth?
At the time of Trevor Hiltbrand’s pitch on Shark Tank, Cerebral Success was valued at $375,000 based on the deal he made with Barbara Corcoran. However, the company’s net worth at the time of its closure is not publicly known.
Business Overview
Founded by Trevor Hiltbrand, Cerebral Success was a brain supplement designed to help students and professionals improve their focus and productivity. The product was formulated using a combination of natural ingredients that Hiltbrand had researched and tested himself.
The company initially showed promise, with decent sales numbers and a successful pitch on Shark Tank. However, despite rebranding and expanding into retail stores, Cerebral Success ultimately failed to maintain long-term success in the highly competitive supplement market.
Conclusion
The story of Cerebral Success is a reminder of the challenges and uncertainties that come with entrepreneurship. While Trevor Hiltbrand’s product showed potential and gained the support of a Shark Tank investor, it was not enough to ensure long-term success.
Despite the company’s closure, Hiltbrand’s journey on Shark Tank remains a testament to his entrepreneurial spirit and the power of innovative ideas. While not every business will succeed, the lessons learned from both the triumphs and the failures are invaluable for any aspiring entrepreneur.