Many products make it into Shark Tank, and PrepWell Academy is no different. It involves a preparation program for high school students to get into prestigious educational institutions. Phil Black is the mastermind behind the PrepWell Academy, and it’s not his first time pitching to the Sharks.
The thing that makes this product stand out is Phil’s expertise. He’s a big proponent of mental fitness. He’s also a Yale Grad and has even attended Harvard Business School. In addition, Phil has also been a navy seal, so he likely knows all about mental acuity and preparation. He’s also someone who has his systems all on the go.
So, it only makes sense that he would introduce a product that would get you into the best kind of college. He got the idea to create this online academy when he was preparing his two sons for their college admissions, which adds to how tried and tested his methods would have been.
Prep is a way for high-potential students to have a chance at college admissions. Phil says that the whole design of the PrepWell Academy is to make their college dreams a reality that they could be a part of.
Now that we know about the PrepWell Academy, we can look at how their pitch went in front of the sharks.
Phil enters, seeking $100,000 for 20% of his business. The Sharks seem to remember him and the last pitches that he made. They also remember him for his impressive resume. Phil begins with his pitch on his company. He talked about how he had switched from physical to mental fitness this time. He discusses how learning and preparation are skills to be mastered and wants to help kids impart these skills into the college admissions. He spoke about how it was an online academy that didn’t require a lot of resources. The online academy is supposed to teach the kids what to do when to do it and how to get through their entire high school experience in a way that would set them up perfectly to get into the college that they want.
Phil says that he was aware that teenagers could be quite dismissive of their future, which is why he wanted to create a platform that helps them set themselves up for a better future. Phil said he wanted to position himself as a mentor so that the teenagers in the PrepWell Academy don’t have to worry about their future along with the massive amount of school work they already have. With the PrepWell Academy, Phil wanted to create an outline that teenagers could have an easy time responding to and follow for their growth. The coursework he included is not only restricted to getting into the best kind of college but also prepares the students with skills in planning and preparation.
The primary use of the PrepWell Academy is that it can help you get into the Ivy League school of your dreams. It can also help you get into any military academy since Phil has been a part of this. He also talks about how he can help his students get athletic scholarships.
The PrepWell Academy charges $14.95 per month, and it introduces students and their parents to all the content. There are all types of content, including advice, life skills, deadline reminders, etc. There are projects that teenagers can engage in which enables them to have the perfect college resume that would get them into the college of their dreams.
When Phil manages to tell them all of this about the company, the Sharks don’t seem too happy about it. There are questions all across the board on how he is supposed to fund this academy. They also think that in its current model, it wouldn’t be able to be a profitable business. The business is also not quite as big, which means that it isn’t something that they think they can currently invest in.
All the Sharks aren’t interested, and Phil walks out, having no deal in his hands. Kevin, who knows Phil has felt these feelings of rejection before, states that he should come again when he has a solid plan that he knows they would fund.
The company is still active, and Phil has managed a significant social media following that allows him to help students who need it.
Our Review of PrepWell Academy
There are many pros and cons to all of the ideas that walk through the tank. Read on as we mention them.
Pros of PrepWell Academy
- It is thorough. Phil Black has pretty much thought of all of the obstacles you would go through when trying to prepare for your college admissions. You don’t have to worry much once you have signed up for the PrepWell Academy.
- It is convenient. The students don’t have to go into a physical space when they want to receive an education. They can access all the resources online from the comfort of their home, making it much easier for them.
- It is affordable. You’re not paying much money to get the expertise from Phil, and it’s a monthly subscription for 15 dollars which isn’t a lot.
Cons of PrepWell Academy
- You could quickly go for many alternatives with a much higher clearance and acceptance rate.
Who is PrepWell Academy For?
PrepWell Academy is for all who want to get into the college of their dreams. It’s for all those people who want to ensure they have a bright future ahead of them so they can have the best life possible and continue to grow.
Are there any alternatives?
There are alternatives to PrepWell Academy in the sense that there are many SAT prep and college preparation apps on different platforms. However, the PrepWell Academy is one online platform you can access to have all of these necessary tools.
Our Final Thoughts
The PrepWell Academy is a valuable tool for students, which is why we can see why people would want to invest in it. However, from a business perspective, it needs more to turn into a profitable business.