Leaux Racing Trikes Shark Tank Update

Highlights

Tyler Hadzicki pitched Leaux Racing Trikes, seeking $120,000 for 20% equity.
Despite an impressive demonstration and engaging the Sharks in a test ride, Tyler did not secure a deal.
The company went out of business in 2016, shortly after the episode aired.

Overview

Category	Details
Name	Leaux Racing Trikes
Founder	Tyler Hadzicki
Industry	Recreation/Outdoor Products
Product	Racing trikes designed for power slides and spins
Funding	No deal secured on Shark Tank
Investment Ask	$120,000
Equity Offered	20%
Valuation	$600,000

Tyler Hadzicki got the inspiration for Leaux Racing Trikes from watching his dad invent products. Tyler hopes the Sharks get the right spin when he pitches the product on Shark Tank episode 714. Like many recent Shark Tank entrepreneurs, Tyler got his business started with a successful Kickstarter campaign: he raised over $46K to get the first production run off the ground.

Leaux Racing Trikes evoke the classic Big Wheel: they’re low to the ground and you can do power slides and spins with them. In addition to the front handlebars, there’s a rear steering handle that controls the rear wheels (and helps do cool spins and tricks). If you just want to ride without spinning, the rear wheels lock.

Tyler has several patents on the trikes, which sell for $350 and up. Currently, they’re only available online, but with the help of a Shark, we could see them in stores before too long. Tyler likely needs cash for another production run and help with distribution.

Will a Shark invest and take a ride with Leaux Racing Trikes?

Leaux Racing Trikes Shark Tank Recap

Tyler rides in seeking $120K for 20% of his business. He says the Leaux racing trike is like a race car and a tricycle had a love child. He spins around on stage and flips around on a ramp. Robert says he wants to try it; Mark and Mr. Wonderful join him. Robert wipes out in the hallway and the test ride quickly degenerates into a demolition derby!

Tyler explains the idea started as a sixth grade science project. His teacher didn’t like the idea, but Tyler won his science fair! He has a picture of the first trike which was essentially pieces of different bikes chopped up and welded together.

When he did his Kickstarter project, he sold 130 trikes. They cost $180 to make and sell for $350. He tests every bike at his Mexican factory. He wants Shark money to rent a larger facility and hire an inspector, but he still wants to test every bike he makes. Mark says if he’s personally testing each bike, he needs to charge more.

Barbara likes Tyler and likes his product, but its too early; she’s out. Mr. Wonderful doesn’t see how he can turn it into a business; he’s out. Lori doesn’t like that he wants to inspect every bike; she thinks he’s too far away, she’s out. Robert thinks it’s too cheap; he thinks Tyler needs to find niche: is it a toy or a hardcore racing trike? He’s out. Mark wants to know what’s next because this won’t sell 2 million units. He thinks it’s brilliant, but needs to see the vision to make it bigger company; he’s out. Tyler is bummed they didn’t listen to him about the market and calls the Sharks rude.

RESULT: NO DEAL