Wi Spots from Shark Tank

Wi Spots shark tank
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Wi Spots can be defined as a company that offers Wi-Fi and advertisement-related services. The service provides fast WIFI services to patients in busy areas such as check-in, waiting, and examination rooms.

 

Patients can conveniently check into the office, complete questionnaires, and participate in clinical trials through Wi Spots. The service is intended to be used with a wireless device that also serves as a display.

 

When patients are not using the pad, they can still see promotions, pharmaceutical goods, and other marketing content through the display, which can help pharmaceutical companies and healthcare facilities generate revenue. Wi Spots is a unique service as it allows patients to kill time while waiting in busy areas such as waiting rooms.

 

Unfortunately, Wi Spots ceased operations in 2012 after ten years of struggling to operate. The founder of Wi Spots now serves as the CEO and president of AivenGroup.

 

Kevin Flannery appeared on Shark Tank in Season 1, Episode 1, and asked for $1.2 million for 10% of his company. The sharks were shocked to hear that Kevin was penniless because he had invested around $550,000 of his funds on Wi Spots since 2002.

 

The first shark to turn down the offer was Mr. Wonderful, who told Flannery that all his troops were losing their lives rather than returning with compensation. Kevin Harrington also chose not to invest in Wi Spots because he believed it only provided access to commercial-filled stuff and email, which was just not enough.

 

Barbara Corcoran acknowledged Flannery’s dedication before she advised him to have the guts to give up. Daymond John also advised Kevin to give up and said that if he continued with the business, he would lose everything. Robert Herjavec also pulls out by indirectly warning Kevin that he would be a fool if he continued to believe that his company still had a chance.

 

As Kevin left the show, Mr. Wonderful referred to his situation as the dark side, and Herjavec emphasized that false encouragement is to blame for such cases. Even though Kevin left without a deal, he refused to take the shark’s advice and continued promoting his company.

 

Our Review of Wi Spots

Kevin Flannery’s Company Wi Spots was featured in the Shark Tank series premiere. Before he asked the Sharks for funding, Kevin leveraged his own and his family’s assets. Even though all of his effort and investment were fruitless, and he ultimately had to close his firm, Kevin still considered his hopefulness a sign of dedication.

 

Even though Kevin had a lot of hopes and dreams for his company, his financial situation prevented him from implementing them all. To cover the cost, he sold his house and used his children’s college fees to invest in his business.

 

After all his efforts went in vain, he decided to feature his company on shark tank, hoping it would help him get further investment and recognition for his company. Even though Kevin had come up with a unique concept, we believe Wi Spots lacked the “X factor” and the vital services to draw in investors and users.

 

Most patients use their phones to access the internet and check their email. Many would feel reluctant to log in with personal email information on a device accessible to the public out of fear of getting hacked or scammed.

 

When Wi Spots was introduced in 2002, it might have seemed like a good concept, but the business did not last much longer as technology developed. Anyone who enjoys technology and gadgets probably already has all they require on their cell phone, and most individuals would not be interested in using a tablet in a waiting area.

 

Therefore, even after receiving public attention from Shark Tank, Kevin’s firm collapsed because investors realized that his service had little to offer.

 

Even though Kevin ultimately decided to close down Wi Spot in 2012, he should have abandoned the company much earlier, considering how rapidly technology was evolving, which resulted in his services becoming outdated.

 

Pros of Wi Spots

Here are a few benefits of Wi Spots:

  • Allows patients to kill time by browsing the internet or checking emails in hospital settings where patients are not permitted to carry their phones
  • Allows pharmaceutical companies to advertise their products

 

Cons of Wi Spots

  • The entire concept is ineffective because most patients can surf the internet and check their emails through their phones; no one would pick up the device to check advertisements

 

Who Is Wi Spots For?

Wi Spots is for large-scale medical facilities or clinics that want to provide entertainment for their patients while also generating advertising commissions if patients purchase the advertised pharmaceutical items or services through the Wi Spots.

 

The company can also benefit pharmaceutical companies by allowing them to promote and advertise their products and possibly generate cash.

 

Are There Any Alternatives?

Below are a few alternatives of Wi Spots:

  • PatientPoint
  • Cisco Wireless
  • Aruba Instant
  • ZocDoc
  • Vitals
  • JoyTunes
  • Phreesia

 

PatientPoint is top on our list of alternatives for Wi Spots as it offers similar services and additional benefits such as integrated communication systems for healthcare practitioners and patients, digital screens for crowded medical facilities, engaging touchscreens for one-on-one engagement, and appealing print materials.

 

Our Final Thoughts

Wi Spots stands out because it is a modern device that enables patients to kill time by browsing the internet or checking emails in hospital settings where patients are not allowed to carry their phones. However, most healthcare facilities allow patients to bring their phones, and not many people would pick up a gadget solely to look through advertisements; therefore, the service is not very practical.

 

When things don’t work out, you have to give up sometimes. Kevin Flannery would have saved a lot of money if he had followed the sharks’ advice and given up on the business. Kevin’s story is an excellent example for business owners as it suggests that sometimes giving up and starting again is the best thing you can do for yourself.