As kids, we all want to be the next big thing in the world. Thomas Fields started Grind after his injuries ended his dream of becoming a professional NBA player.
The main idea behind Grind was to give people an affordable option to the more expensive basketball shooting machines that are already on the market. The company went on Shark Tank and caught the attention of Barbara Corcoran and Mark Cuban with a unique business plan that helped them make a deal.
We will learn more about the company and its rise to the top in this article.
Quick Facts
| Business details: | Basketball Shooting Machine |
| Founders name: | Thomas Fields |
| Founded in: | 2017 |
| Location (Country): | Houston, Texas, US |
| Investment Asked by Company | $250,000 for 5% equity |
| Sharks on board (Investors) | Mark Cuban, Barbara Corcoran |
| Accepted Deals: | $250,000 for 25% equity |
| Shark Tank Episode: | Season 12 Episode 23 |
| Net Worth | $2 million |
| Business Status: | Active |
Founder’s Bio
Thomas Field, who is from Houston, Texas, started Grind by himself. Thomas played basketball on the basketball team at Heights High School and wanted to make it to the NBA one day.
He did, however, pull his ACL and hurt himself right before graduation, which ruined his plans to become a professional basketball player in the future.
After that, Thomas went to the University of Houston’s CT Bauer College of Business and quickly became a speaker for Redlands, a start-up incubator. Thomas then worked for many companies, including TXRX Labs and the MIT Media Lab, where he put all of what he had learned about business and business models to use.
Beginning Grind
Thomas had the idea for Grind while he was recovering from an injury at school. When he was really into basketball, he didn’t want to have to depend on his teachers to help him train. He wanted to be able to train however he wanted.
Grind Basketball Net Worth: Your Ultimate Guide to Understanding the Figures pic.twitter.com/dU4iGLqrei
— Shark Tank Success (@SharkTankWins) November 14, 2023
There, he made Grind, a movable basketball machine that helps players work out on their own. Thomas worked on this after school, but Grind didn’t start until REDLabs and a few other backers backed his idea in 2017.
Once it was up and running, Thomas’s new business made about $215,000 just from pre-orders.
Grind on Shark Tank
Thomas chose to go on Shark Tank to keep up with the orders and give out work. He asked for $250,000 for 5% of the business during his pitch.
At first, Mark Cuban and Alex Rodriguez were pretty pleased, but they were wary of Grind’s profit margin. Barb Corcoran, on the other hand, wanted to make the product look better.
Finally, Barbara and Mark worked together to meet Thomas’s offer, which was $250,000 for 25%.
After Shark Tank, Grind
There were rumors on sharktankblog.com that Mark and Barbara’s deal wasn’t finished, which was bad for the business. Even though there were problems, Thomas’s company was able to ship the first pre-order.
The business could make about $1 million in 2021. At this point, Grind’s main goal is to complete both old and new orders made on its website. The business also took part in the Techstars Sports Accelerator program and raised about $1.6 million there.
What Is The Grind Net Worth In 2024?
As of 2024, Grind has an estimated net worth of $2 million.
Some Important Links
Grind Basketball Pros & Cons
When it comes to tools and gear for shooting, Grind Basketball stands out because it is so cheap. There are, however, some things the company could do better, especially with the appearance of the product. Here is a quick list of Grind Basketball’s pros and cons:
Pros:
- It facilitates efficient basketball play.
- It eliminates the hassle of retrieving the ball or relying on a friend to do so.
- You can take it wherever you go due to its portability.
- It saves considerable practice time daily.
Cons:
- It requires a power outlet nearby due to being wired.
- Although it is functional, the design might not complement your backyard aesthetics.
FAQs
How did Grind Net Worth become popular?
Grind Net Worth gained popularity through his entertaining gaming content, including walkthroughs, Let’s Plays and challenges. He also leverages his social media presence to engage with his fans and share aspects of his personal life.
How does Grind Net Worth make money?
Grind Net Worth generates income through various streams, including:
- Ad revenue from his YouTube channel
- Sponsorships and partnerships with gaming companies and brands
- Merchandise sales (t-shirts, hats, etc.)
- Affiliate marketing
- Personal appearances and live events
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