Fran Harris made a notable entrance on Shark Tank during season 12, episode 9, which premiered on January 8, 2021. She sought to raise $350,000 in exchange for 20% equity in her innovative venture, Electra Beverages, a brand focused on healthy sports drinks. As a former WNBA champion, Harris aimed to make waves in the competitive $23 billion hydration market, where established brands reign supreme.
“Introducing Electra, a better-for-you functional beverage hydration company that’s going to change the sports drink game forever,”she declared during her pitch. “Consumers are not going to settle for a sports drink that over-promises and under-delivers.”
While the Sharks were intrigued by her product, they expressed concerns about the formidable challenges of entering the beverage industry, particularly with no sales to date. Nevertheless, Harris clinched a deal with Barbara Corcoran, securing $100,000 alongside a $250,000 line of credit for a substantial 30% equity stake, contingent upon Harris forming a partnership with a prominent athlete.
Fast forward to 2025, and according to her LinkedIn profile, Fran Harris remains at the helm as CEO of Electra Beverages. The brand has undergone a rebranding process with new flavors; however, their official website mentions a planned relaunch for summer 2024, without any current purchasing options available.
Overview of Electra Beverages’ Shark Tank Pitch
Fran Harris entered the Shark Tank seeking a significant investment of $350,000 for 20% of her business. She passionately introduced her product, spotlighting its use of natural ingredients and functional hydration. During her presentation, she showcased three appealing flavors:
- Litty Lemonade
- Passion Punch
- Oh Yeah! Orange
The Sharks were eager to sample the drinks, with Daymond John complimenting the Passion Punch. They inquired about the brand’s best-selling flavor, to which Harris explained that these were her initial launch flavors, noting she had just started sales ten days prior to her pitch.
Kevin O’Leary pressed her on how she intended to contend with giant competitors, dubbing them “bone-crushing monsters” and questioning her distribution strategy. Harris confidently responded:
“I’m not afraid of competitors. I’ve competed all my life.”
She articulated her dual strategy of selling both directly to consumers online and in retail outlets. However, Kevin and Mark Cuban raised concerns about the costs of shipping a bulky product. “Shipping a 12-pound box?” Kevin asked, while Mark noted, “That’s going to be expensive.” Harris acknowledged these hurdles, believing that the combination of retail presence and online sales was crucial.
Mark also questioned Harris on her choice to offer a bottled drink instead of a powdered mix. She explained her rationale:
“Once you are hustling and you’re active, you want to walk into a store and grab something then, right?”
Mark countered by pointing out the challenge of securing refrigerator space in retail environments. He praised the product’s formulation and its favorable potassium-to-calorie ratio, but ultimately couldn’t engage due to existing commitments with his NBA team, the Dallas Mavericks.
Insights on Production Challenges and Funding Offers
As the discussion continued, Barbara Corcoran inquired about the drink’s manufacturing location, to which Harris confirmed it was produced in Coppell, Texas. Barbara then shifted to the funding aspect of the operation, stressing that Harris required investment to facilitate large-scale production.
Harris projected her initial production run would require between $20,000 and $30,000, with an additional $25,000 earmarked for R&D, plus hiring staff in logistics, sales, and marketing. Barbara probed further:
“You can’t take that product in until you get the money from us, right?”
To which Harris affirmed, stating, “That’s right. Good job, Barbara.” Meanwhile, Lori Greiner complimented Harris’s poise but opted out, explaining her personal preference:
“The drinks themselves aren’t really my cup of tea. For those reasons, I’m out.”
With Mark having declined due to prior commitments and Daymond also holding back without making an offer, the hopes seemed dim for Harris. However, at a critical moment, she surprised the Sharks with the news of two superstar athletes expressing interest in collaborating with Electra.
Following this revelation, Corcoran masterfully guided the discussion toward a deal proposition: $100,000 upfront plus a $250,000 line of credit for a 30% equity stake, contingent upon Harris successfully partnering with one of the athletes. Accepting this offer marked a significant milestone for her venture.
Catch Shark Tank every Friday at 8 PM ET on ABC to see more entrepreneurial journeys and business innovations.