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December 1, 2015
Alumnus John Anthony Radosta, pitched his company on ABC’s “Shark Tank” on Friday, November 20.
Radosta graduated from Northeastern in 2009 with a major in music industry. Despite his music-focused education, Radosta found himself drawn to the world of business. Radosta’s drive to appear on the show is a reflection of his dedication to his work, according to Leon Janikian, associate professor and director of Northeastern’s music industry program. “John Radosta is one of the most focused students I have ever dealt with,” Janikian said. “He was always driven by one basic principle – be all that you can be. In that quest, he was eminently successful.”
Excerpted from The Huntington News, written by Christian Stafford.
Shark Tank Recap
John Anthony enters the Tank seeking $160K for 10% equity in Advanced Sports Concepts corporation, the holding company for the National Association of Bubble Soccer. Almost immediately, four players in bubbles and a referee come out and begin playing a “game” of bubble soccer. Daymond, Mark, and Robert all get into bubbles and start bumping into each other. Mark Cuban DECKS Daymond and Robert!
Mr. Wonderful asks John Anthony to walk them through the business. The National Association of Bubble Soccer wants to be a one stop shop for bubble soccer entrepreneurs. They provide equipment, lead generation, and support. Owners have revenue from leagues and events – it’s about a 50-50 split.
Robert claims he’s rented similar stuff and he wants a straight answer about how many teams there are. John Anthony got into the business after seeing leagues in Europe and noticing a high search volume online for the term “bubble soccer.” He’s done $305K so far this year and is projecting $430K; profits will be $80K. Next year, he’s projecting $630K. NABS makes money by selling bubble packages for $4K – $16K and by offering protection for the equipment. He also sells league owners leads. He says a typical birthday party type event costs $300-$500.
Kevin thinks the business model is unclear and John Anthony did a poor job explaining it – he’s out. Lori doesn’t see the vision for leagues – she’s out. Robert thinks he has too many business models – he’s out.
Daymond thinks he’s scaled well in 13 months, but he’s out. Mark says NABS is in the business opportunity business; he wanted to hear how much affiliates make. Mark thinks John Anthony is too convoluted – he’s out
John Anthony says he’s surprised.
RESULT: NO DEAL
Excerpted from Shark Tank
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