A student irrespective of their age should not feel constrained within themselves while learning. Apart from that, behavioral education is also required for children from a young age. To make this possible, Kim Macrae was introduced to a program.
Walk through the article to know more about the product and whether it was acceptable enough to convince the Sharks.
Quick Facts
| Founders name: | Kim Macrae |
| Business details: | A learning program that engages children through music and movement |
| Founded in: | 2003 |
| Location : | Dubbo, New South Wales |
| Asking of Company: | $250,000 for 10% equity |
| Accepted Deals: | No Deal |
| Shark on board (Investors): | None |
| Shark Tank Episode: | Season 03 Episode 05 |
| Net Worth | $500,000 |
| Business Status: | Active |
| Last Updated: | Feb 23, 2024 |
About the Founder
Australian martial arts instructor, singer, and teacher Kim Macrae also teaches fitness. He is passionate about educating youngsters and exposing them to the physical aspects. For more than 14 years, he has managed the IkiFit program and has dedicated the majority of his life’s savings to it.
Macrae focuses on wellbeing and emphasizes more on his accomplishments during the IkiFit process than what he has lost.
Founding IkiFit
IkiFit is a fitness program that encourages children to move safely and responsibly. The IKifit team has developed a top-notch system for fitness, education, and social development in collaboration with seasoned teachers from both the public and autonomous school systems.
Kim, the director and founder of iKiFit, presented his concept for a Wiggles-style educational program. Young toddlers of 18 months old and teenagers as old as 18 years are eligible for the program, which includes song and dance, and he aims to implement it in classrooms across the country.
Shark Tank Appearance
Four young children and their parents entered the platform full of sharks on Tuesday night to participate for the entrepreneur Kim Macrae, who pitched for a learning program on June 2017.
The youngsters gathered together quickly in their positions on the floor and began reciting a song and doing dance moves developed as part of Macrae’s IkiFit program. The eager students eventually exited the venue, allowing Macrae to discuss matters of business and statistics with the sharks, the judges gave them a few adorable good-byes. After that, for a 10% ownership, he requested a $250 000 contribution.
One of the Sharks Dr. Glen Richards expressed serious unease and doubted Macrae’s credentials. The other entrepreneurs expressed their displeasure with how constricting and artificial the experiment seemed. Macrae appeared agitated when asked about the money. When prodded, he admitted that just 16 early childhood facilities had signed up for $2,000 per year. Despite earning only $50,000 in the previous year, he put $800,000 into IkiFit.
The Sharks abandoned IkiFit because there was no proper financial analysis or in-depth data on the reasons why the program benefits kids.
After Shark Tank
Negative phrases like “subtly uncomfortable,” “awkward,” “bizarre” and “disturbed” are referred to children’s physical education. But this shouldn’t be the case; positive expressions should have been conveyed. Kim Macrae did not have the desired impact on the investors of Shark Tank Australia.
He stayed committed to IkiFit, and their videos can be found on their YouTube channel. Kim Macrae, the creator of iKiFit, has an estimated wealth of $3.1 million as of 2022.